AJ Balance
About AJ Balance
Austin “AJ” Balance is Chief Product Officer at Grindr, age 38 as of the 2025 proxy, with an MBA and bachelor’s degree from Stanford University. He has served as CPO since November 2022 (Legacy Grindr CPO since December 2021), after prior roles at Uber, Dispatcher, Gigwalk, and Disney corporate strategy . Company performance during his tenure includes reported FY2024 revenue growth of 33% and 2025 intra-year growth cadence of +25% in Q1 and +30% in Q3, supporting a growth-driven compensation framework [20] [18] [15].
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Uber Technologies, Inc. | Lead Product Manager, Driving Team | 2016–2019 | Led product for driver experience/features at scale |
| Dispatcher, Inc. | Co‑Founder & CEO | 2013–2016 | Built logistics tech platform for long‑haul trucking and shippers |
| Gigwalk | Product Manager | 2011–2013 | Product management for software solutions |
| The Walt Disney Company | Analyst, Corporate Strategy & Business Development | 2009–2011 | Strategy and BD for media conglomerate |
External Roles
- No external public company board roles for AJ Balance disclosed in company filings .
Fixed Compensation
| Year | Base Salary ($) | Target Bonus % | Actual Cash Bonus Paid ($) | Non‑Equity Incentive Plan Compensation ($) | Total Reported Compensation ($) |
|---|---|---|---|---|---|
| 2024 | 410,000 | 55% | 260,325 | 338,250 | 6,265,998 |
| 2023 | 377,917 | 55% | 300,000 | 270,210 | 5,389,000 |
Notes: Target bonus equals 55% of base salary, with proration in years with base salary changes . Grindr adopted an Incentive Compensation Recoupment (clawback) policy in Nov 2023 designed to comply with Rule 10D‑1 and NYSE listing standards .
Performance Compensation
Equity Awards and Performance Structures
| Award / Arrangement | Grant date | Structure | Metric & Targets | Vesting | Status / Payout |
|---|---|---|---|---|---|
| RSU award (time‑based) | 11/29/2023 | 333,417 RSUs | Time‑based retention | 10% on 12/1/2024; remaining in equal annual installments over 4 years | Ongoing; unvested shares counted in 12/31/2024 table |
| RSU award (time‑based) | 10/09/2024 | 200,000 RSUs | Time‑based retention | Vests in full on 11/11/2028 | Unvested as of 12/31/2024 |
| KPI RSU arrangement | Approved 11/29/2023 | Fully vested RSUs if KPIs met | FY2024: $125k–$165k; FY2025+: $350k–$465k (value converted to RSUs at 90‑day Avg VWAP) | Fully vested on grant date upon certification; continuous service required | KPIs certified for 2024 on 3/7/2025; granted 9,688 fully vested RSUs to Balance |
| Market Cap Performance RSU arrangement | Approved 11/29/2023 | Fully vested RSUs at market cap hurdles | CPO thresholds: $2.1B → $1,366,666 RSU value; $2.8B → $1,366,667; $3.5B → $1,366,667; values divided by 90‑day Avg VWAP | Fully vested on grant upon threshold achievement; change‑in‑control catch‑up if consideration exceeds thresholds and service/time conditions met | Not disclosed as achieved as of filings cited |
Change‑in‑control terms: Time‑based RSU awards for Balance fully accelerate if terminated without cause or resigns for good reason within 12 months post‑change‑in‑control .
Equity Ownership & Alignment
Beneficial Ownership
| As‑of date | Shares beneficially owned | % of shares outstanding |
|---|---|---|
| 06/24/2024 | 263,051 | * (less than 1%) |
| 04/25/2023 | 157,831 | * (less than 1%) |
No pledging of AJ Balance’s shares disclosed; certain other holders reported pledging arrangements separate from executives .
Outstanding Equity Awards (as of 12/31/2024)
| Instrument | Quantity | Exercise/Conversion | Expiration | Status / Notes |
|---|---|---|---|---|
| Stock options (unexercisable) | 78,915 | $4.20 strike | 12/07/2028 | Legacy award converted at business combination; vesting per original schedule |
| RSUs (time‑based, 11/29/2023 grant) | 300,075 unvested | N/A | N/A | 10% vested 12/1/2024; remainder annually over 4 years |
| RSUs (time‑based, 10/09/2024 grant) | 200,000 unvested | N/A | 11/11/2028 | Single‑date vesting at 2028 |
| Performance RSUs (market cap) | 152,633 unearned | N/A | N/A | Reflects potential payout value pending threshold achievement |
| KPI RSUs (FY2024) | 9,688 granted (fully vested) | N/A | 03/07/2025 grant | Certified achievement for FY2024 |
Trading Arrangements (Rule 10b5‑1)
| Action | Date | Shares subject to plan | Expiration | Notes |
|---|---|---|---|---|
| Plan termination (modification) | 08/11/2025 | 202,786 | 03/07/2026 | Modification of plan adopted 09/17/2024 and modified 03/13/2025 |
| New plan adoption | 08/11/2025 | 169,643 (incl. up to 75,019 RSUs vesting by 12/01/2025) | 12/31/2026 | Actual shares sold net of tax‑withheld shares on vesting |
Ownership guidelines: Not disclosed for AJ Balance; Clawback policy in place for incentive‑based compensation tied to financial reporting measures .
Employment Terms
| Term | Details |
|---|---|
| Employment status | At‑will; Balance Offer Letter dated 11/22/2021, supplemented 12/21/2023 and 10/29/2024 |
| Base salary | Initial $375,000; increased to $410,000 effective 12/01/2023 |
| Target bonus | 55% of base salary; prorated if base salary changes in the year |
| Equity eligibility | Options and RSUs under company equity plans; market cap RSU and KPI RSU arrangements |
| Change‑in‑control | RSUs fully accelerate upon termination without cause or resignation for good reason within 12 months after change‑in‑control |
| Severance cash | Not specifically disclosed for Balance in cited filings (company‑wide severance not detailed for CPO) |
| Non‑compete / non‑solicit | Not disclosed for Balance in cited filings |
Investment Implications
- Pay‑for‑performance alignment: Equity is heavily weighted via multi‑year time‑based RSUs and KPI/market‑cap performance RSUs, tying realized pay to sustained service, KPI attainment, and market value creation .
- Retention and execution risk: Significant unvested RSUs (300,075 + 200,000) and long‑dated vesting through 2028, plus performance RSU potential, suggest strong retention incentives aligned to product execution horizon .
- Insider selling pressure: AJ adopted a new 10b5‑1 plan on 08/11/2025 for up to 169,643 shares (including potential 75,019 RSUs vesting by 12/01/2025), indicating near‑term scheduled sales that could create incremental supply; prior plan was modified/terminated on the same date for 202,786 shares .
- Change‑of‑control economics: RSU acceleration within 12 months post‑CoC increases realized pay in a deal scenario; the board formed a Special Committee to evaluate an unsolicited take‑private proposal at $18.00/share in Oct 2025, heightening CoC optionality for award acceleration if a transaction proceeds .
- Performance backdrop: Reported revenue growth of 33% in FY2024 and continued strong growth in 2025 (Q1 +25%, Q3 +30%) provide a constructive backdrop for KPI awards and value‑linked RSUs, while clawback policy mitigates restatement risk on incentive pay [20] [18] [15] .