Michael Wiesinger
About Michael Wiesinger
Michael Wiesinger is Chief Operating Officer (COO) of Kodiak (post–business combination with AACT), age 39 as of November 6, 2025. He has served as COO since April 2025 after holding various commercialization roles at Legacy Kodiak since 2019; prior to that he was a Project Leader at Boston Consulting Group from 2014 to 2019. He holds an M.S. in Management from Vienna University of Economics and Business and B.S./M.S. in Industrial Engineering from Vienna University of Technology . Executive compensation disclosures identify him as a Named Executive Officer (NEO), with 2024 pay comprising base salary, a discretionary annual bonus tied to company and individual performance, and stock options under the 2018 equity plan .
Past Roles
| Organization | Role | Years | Notes / Strategic Focus |
|---|---|---|---|
| Kodiak (Legacy Kodiak) | Chief Operating Officer | Apr 2025 – Present | Promoted from commercialization leadership prior to business combination . |
| Kodiak (Legacy Kodiak) | VP of Commercialization and other roles | Oct 2019 – Apr 2025 | Led commercialization-related responsibilities; foundational roles prior to COO . |
| Boston Consulting Group | Various positions, most recently Project Leader | Feb 2014 – Sep 2019 | Management consulting experience prior to joining Kodiak . |
Fixed Compensation
Current compensation terms (post–business combination):
| Item | Current Level |
|---|---|
| Base Salary | $400,000 . |
| Annual Target Bonus | 65% of base salary . |
2024 realized compensation:
| Year | Salary ($) | Non-Equity Incentive Plan Compensation ($) | Option Awards ($) | Total ($) |
|---|---|---|---|---|
| 2024 | 294,365 | 73,530 | 486,797 | 854,692 |
Notes:
- For 2024, annual bonus targets were 20% of base for Wiesinger; based on achievement he earned 25% of base salary ($73,530). Bonuses were paid at the discretion of the board based on company and individual performance .
Performance Compensation
Annual bonus mechanics (2024):
| Metric/Plan | Weighting | Target | Actual | Payout | Comments |
|---|---|---|---|---|---|
| Incentive Bonus Plan (annual) | Not disclosed | 20% of base salary | 25% of base salary | $73,530 | Board-discretionary bonus based on company and individual performance . |
Equity awards (grants and vesting terms):
| Award Type | Grant Date | Shares/Options | Exercise Price | Vesting Schedule | Expiration |
|---|---|---|---|---|---|
| Stock Options (2018 Plan) | 06/2025 | 647,089 options | FMV at grant | 12.5% at 6 months; then 1/48 monthly, service-based . | Not disclosed in this section. |
| Stock Options (2018 Plan) | 08/21/2024 | 1,570,313 options total outstanding as of 12/31/2024 (294,433 exercisable; 1,275,880 unexercisable) | $0.31 | 1/8 on 03/01/2024; 1/48 monthly thereafter . | 08/20/2034 . |
Vesting reference dates across Wiesinger’s option history (footnotes):
- 12/23/2021 grant: 1/8 on 12/15/2021, then 1/48 monthly .
- 06/02/2022 grant: 1/8 on 06/15/2022, then 1/48 monthly .
- 12/18/2022 grant: 1/8 on 12/15/2022, then 1/48 monthly .
- 08/30/2023 grant: 1/8 on 06/15/2023, then 1/48 monthly .
- 08/21/2024 grant: 1/8 on 03/01/2024, then 1/48 monthly .
Equity Ownership & Alignment
Beneficial ownership:
| As-of Date | Shares Beneficially Owned | % of Common Stock Outstanding |
|---|---|---|
| Sept 24, 2025 (immediately post-closing) | 1,435,665 | <1% |
| Nov 6, 2025 | 1,553,343 | <1% |
Outstanding option holdings (as of Dec 31, 2024):
| Grant Date | Exercisable (#) | Unexercisable (#) | Exercise Price ($) | Expiration |
|---|---|---|---|---|
| 12/23/2021 | 463,494 | 154,498 | 0.45 | 12/22/2031 |
| 06/02/2022 | 83,322 | 49,994 | 0.45 | 06/01/2032 |
| 12/18/2022 | 276,646 | 276,646 | 0.45 | 12/17/2032 |
| 08/30/2023 | 74,990 | 124,984 | 0.45 | 08/29/2033 |
| 08/21/2024 | 294,433 | 1,275,880 | 0.31 | 08/20/2034 |
Additional equity detail:
- 2018 Plan repricing: Certain legacy awards (including Wiesinger’s grants dated November 2022) were repriced to $0.45 per share in November 2022 .
Implications for selling pressure:
- The 06/2025 grant (647,089 options) and large unvested tranches from 2024 grant imply ongoing monthly vesting and a visible supply of potentially exercisable shares as service continues, creating periodic windows where option exercises/sales could occur under 10b5-1 or open windows .
Employment Terms
- Employment status: Entered the company’s standard at-will offer letter; confirmatory employment letter has no specific term (at-will) .
- Current compensation terms: Base salary $400,000; annual target bonus 65% of base salary .
- Benefits/perquisites: Benefits consistent with all employees; no executive-specific perquisite programs disclosed; participation in 401(k) plan .
- Change in control / severance economics:
- Double-trigger equity acceleration: If terminated without cause or resigns for good reason within 12 months of a change in control (as defined in the 2018 Plan), “certain” Legacy Kodiak options accelerate and become exercisable (subject to execution and non-revocation of a release) .
- No fixed cash severance multiples disclosed in the cited sections for Wiesinger; prior to the business combination, no formal severance plan existed, though letters/equity awards could provide benefits .
Compensation Structure Analysis
- 2024 pay mix heavily equity-oriented: Option grant fair value ($486,797) exceeded cash bonus ($73,530), aligning upside with long-term equity value .
- Step-up in 2025 target bonus: Target increased from 20% (2024) to 65% of base salary upon entering confirmatory employment as COO, raising at-risk cash tied to annual performance .
- Ongoing monthly vesting cadence and a large 2024/2025 option overhang support retention but create recurring windows for potential insider supply as tranches vest and become exercisable .
Investment Implications
- Alignment and leverage: Ownership is <1%, but option-heavy compensation with low legacy exercise prices ($0.31–$0.45) provides significant leverage to equity value creation; incentives emphasize scaling operations and commercialization to drive valuation .
- Retention risk moderate: At-will employment is partially offset by substantial unvested options and double-trigger acceleration on change in control, which both incentivize continuity and reduce downside risk around transactions .
- Near-term selling pressure watch points: Monthly vesting from large 2024/2025 grants can periodically increase potential sellable inventory; monitor post-vesting trading windows and any 10b5-1 plan disclosures for flow signals .
- Pay-for-performance tilt: The increase to a 65% target bonus and heavy option exposure indicate a high at-risk pay mix; lack of disclosed quantitative bonus metrics limits external visibility on hurdle rigor, but board-discretion language suggests flexibility to recognize operational milestones during commercialization .
Sources: S-1/A (filed Nov 13, 2025), S-1 (filed Oct 10, 2025), AACT S-4/A (Aug 15 and Aug 25, 2025), and AACT 8-K (Sept 30, 2025) .