John North
About John North
John F. North, 48, was appointed Chief Financial Officer of Grindr Inc. effective October 1, 2025; he holds a B.S. in Finance from Santa Clara University (1998) and is both a CPA and CFA charterholder . His role includes leading accounting, treasury, tax, FP&A, and IR; compensation is highly performance-weighted via KPI RSUs and market-cap PSUs, aligning incentives with shareholder value creation . Tenure began Q4 2025; company-level TSR/revenue/EBITDA performance under his tenure is not yet disclosed.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Lazydays Holdings (GORV) | Chief Executive Officer & Director | Sep 2022 – Sep 2024 | Led nationwide RV retailer; CEO experience in public company operations |
| Copart (CPRT) | Chief Financial Officer | Oct 2020 – Sep 2022 | CFO of leading online auctions/vehicle remarketing platform |
| Avis Budget Group (CAR) | Chief Financial Officer | Mar 2019 – Aug 2020 | CFO of global rental/car sharing leader |
| Lithia & Driveway (LAD) | CFO; Chief Accounting Officer; other leadership roles | CFO Jan 2017 – Mar 2019; CAO Jan 2016 – Dec 2016; 17 years total | Progression across finance leadership in global auto retail |
External Roles
| Organization | Role | Years |
|---|---|---|
| XPEL Inc. (XPEL) | Director; Chair of Compensation Committee; Audit Committee member | Since Aug 2023 |
Fixed Compensation
| Component | Value |
|---|---|
| Base salary | $175,000 per year |
| Target annual bonus | 100% of base salary (prorated for 2025) |
| Relocation payment | $150,000 (taxable; clawback in full if voluntary termination before 6 months) |
| Employment status | At-will |
| Work arrangement | Finance hub in SF Bay Area; in-person Tue/Thu |
Performance Compensation
KPI RSUs (Annual)
| Metric Framework | Value Range | Payout Mechanism | Vesting | Notes |
|---|---|---|---|---|
| Board-approved KPIs (unspecified) | $500,000 – $700,000 per fiscal year | Fully vested RSUs; number determined by 90-trading-day Average VWAP before grant | Fully vested on grant | 2025 prorated based on Oct 1 Start Date |
Market Capitalization Performance RSUs (PSUs)
| Threshold | Earliest Eligibility Window | RSU Grant Value | Grant Mechanics | Vesting |
|---|---|---|---|---|
| $5B average market cap | On/after Apr 1, 2026 | $300,000 (if met before Jul 1, 2026); $600,000 (if met on/after Jul 1, 2026) | RSUs granted = value / Average VWAP over prior 90 trading days (rounded down) | Fully vested on grant |
| $7.5B average market cap | On/after Jul 1, 2027 | $7,500,000 | Same as above | Fully vested on grant |
| $10B average market cap | On/after Jul 1, 2027 | $11,000,000 | Same as above | Fully vested on grant |
| Change-in-control treatment | Contingent upon CoC | Grants for each exceeded threshold (not previously granted) immediately before closing; RSUs = threshold value / per-share consideration (rounded down); timeframe eligibility must be satisfied | Fully vested on grant | Continuous service required through immediately prior to consummation |
Equity Ownership & Alignment
New-Hire RSU Award (Time-Based)
| Vesting Date (Anniversary of Start) | Shares Vesting |
|---|---|
| 1st anniversary | 110,000 |
| 2nd anniversary | 110,000 |
| 3rd anniversary | 150,000 |
| 4th anniversary | 180,000 |
| 5th anniversary | 180,000 |
| Acceleration | Full acceleration if terminated without Cause or resigns for Good Reason within 12 months following a change in control |
- Beneficial ownership at appointment and ownership as % of shares outstanding were not disclosed; RSU awards above constitute unvested equity grants at start .
- Pledging/hedging: No pledging disclosures specific to John North; company maintains insider trading and hedging policy generally per proxy index, but executive-specific compliance details not disclosed .
Employment Terms
| Provision | Economics / Terms |
|---|---|
| Severance (Involuntary Termination: without Cause or for Good Reason) | Lump-sum cash equal to the greater of 12 months base salary or company-wide severance policy; pro-rata annual bonus for year of termination; payment of up to 9 months COBRA premiums (or tax-neutral cash in lieu if direct payment would cause penalties) |
| Separation agreement | Severance conditioned on execution and non-revocation of separation and general release by day 60 post-separation |
| Change-in-control | Time-based RSU Award accelerates fully if terminated without Cause or resigns for Good Reason within 12 months post-CoC (double trigger); market-cap PSUs include single-trigger grant upon CoC if consideration exceeds thresholds and timeframe eligibility is satisfied |
| Cause (high-level) | Includes conviction or plea to crimes of dishonesty, gross negligence, material fiduciary breach, material breach of agreement, knowing/material violation of material policies; cure rights for curable conduct |
| Good Reason (high-level) | Material salary reduction (with limited exceptions), material diminution of duties/title, relocation outside SF Bay Area, material breach of agreement, failure to grant incentive awards; notice/cure/resignation timing required |
| Indemnification | Company to enter standard indemnification agreement previously approved and filed |
- Non-compete/non-solicit: Not disclosed; the offer letter includes representations about not violating prior obligations and confidentiality norms, but no specific non-compete/non-solicit terms were specified .
Investment Implications
- Alignment and upside leverage: Very low fixed pay with substantial performance equity creates high sensitivity to value creation; KPI RSUs ($500k–$700k/year, fully vested on grant) and market-cap PSUs ($300k/$600k at $5B; $7.5M at $7.5B; $11M at $10B) tightly link pay to sustained market value thresholds and Board-determined KPIs .
- Change-in-control dynamics: Double-trigger acceleration for time-based RSUs mitigates windfalls; however, PSUs include single-trigger grants upon CoC if thresholds are met, potentially creating sizable dilution at higher consideration levels—an important consideration for M&A scenarios and insider selling pressure timing .
- Vesting cadence and supply overhang: The 730,000 RSU award’s multi-year schedule (through year 5) staggers unlocks, which can create periodic supply windows; KPI RSUs are fully vested upon grant, potentially adding episodic liquidity if granted at larger values .
- Retention features: Severance (≥12 months base + pro-rata bonus + up to 9 months COBRA) and change-in-control protections support retention; relocation bonus clawback for <6 months adds near-term stickiness .