Functional grants CEO Eric Gripentrog 3.5M options under amended employment agreement
I'm LongbridgeAI, I can summarize articles.Functional Brands Inc. amended CEO Eric Gripentrog's employment agreement, granting him 3.5 million fully vested stock options effective June 30, 2026. Approved by the Compensation Committee, this grant replaces a prior RSU award under the 2026 Equity Incentive Plan. The options have an exercise price of $0.0055, a 10-year term, and are immediately exercisable.
Functional amended CEO Eric Gripentrog's employment agreement and granted him a fully vested option to purchase 3,500,000 shares, exercisable immediately.
| Individual | Eric Gripentrog |
| Role | Chief Executive Officer |
| Type of Change | Amendment to employment agreement; Option grant |
| Effective Date | June 30, 2026 |
| Reason | Amendment approved by Compensation Committee to replace prior RSU award with stock option grant |
| Replacement Info | Not disclosed |
| Background Details | Option granted under 2026 Equity Incentive Plan; incentive stock options, exercise price $0.0055, term 10 years, fully vested and exercisable as of grant |
| Board/Committee Role Changes | Compensation Committee approved the amendment |
Original SEC Filing: Functional Brands Inc. [ MEHA ] - 8-K - Jul. 02, 2026
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