Gabe Carimi
About Gabe Carimi
Gabe Carimi (age 36) is Vice President of Operations at Jones Soda and General Manager of Mary Jones, appointed March 4, 2024 and October 2024, respectively; he holds a B.S. in engineering from the University of Wisconsin–Madison and previously co-founded Stryve Biltong after a professional football career (Falcons, Buccaneers, Bears) . Company performance in 2024: revenue grew 15% to $19.1M, adjusted EBITDA was $(8.7)M, and net loss was $(9.9)M; the pay-versus-performance disclosure indicates a 2024 TSR value of 108 for a fixed $100 investment .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Stryve Biltong | Co‑Founder and Co‑CEO | 2017–2019 | Built healthy snack brand; operating leadership and commercialization experience |
| Atlanta Falcons | Player (NFL) | 2011–2015 | Team-level professional experience |
| Tampa Bay Buccaneers | Player (NFL) | 2011–2015 | Team-level professional experience |
| Chicago Bears | Player (NFL) | 2011–2015 | Team-level professional experience |
External Roles
No public-company board or committee roles are disclosed for Carimi in company filings; his biography lists operational roles and education without external directorships .
Fixed Compensation
| Metric | 2024 |
|---|---|
| Base Salary (contracted) | $200,000 per year (Offer Letter) |
| Salary Paid | $168,525 (pro-rated in 2024) |
| Target Bonus % of Salary | 30% (annual, contingent on Company revenue and adjusted EBITDA targets) |
| Actual Bonus Paid | $0 (2024) |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting/Timing |
|---|---|---|---|---|---|
| Company Revenue (annual) | Not disclosed | Set annually by Compensation Committee | Not disclosed | $0 (2024) | Annual cash bonus if targets met |
| Adjusted EBITDA (annual) | Not disclosed | Set annually by Compensation Committee | Not disclosed | $0 (2024) | Annual cash bonus if targets met |
| Equity Incentive | Grant Date | Type | Quantity | Strike | Expiration | Vesting Schedule |
|---|---|---|---|---|---|---|
| Offer Letter Equity | Pending (not granted as of Record Date) | Non‑qualified Stock Options | 500,000 | Not disclosed | Not disclosed | Equal annual installments over 3 years from grant |
Equity Ownership & Alignment
| Ownership Item | As of Record Date (May 21, 2025) |
|---|---|
| Shares Beneficially Owned | Not listed; below 1% per table (“*”) |
| Ownership % of Shares Outstanding | <1% |
| Options – Exercisable | None disclosed for Carimi |
| Options – Unexercisable | None granted as of Record Date |
| Shares Pledged as Collateral | Prohibited by policy; none pledged by officers as of 12/31/2024 |
| Hedging/Margin Transactions | Prohibited for officers/directors/employees |
| Stock Ownership Guidelines | Compensation Committee develops and reviews guidelines (specific multiples not disclosed) |
Employment Terms
| Term | Detail |
|---|---|
| Employment Start Date | March 4, 2024 (VP Operations); GM Mary Jones since October 2024 |
| Role | Vice President of Operations; General Manager, Mary Jones |
| Base Salary | $200,000 per year |
| Annual Bonus Opportunity | 30% of base salary; contingent on annual revenue and adjusted EBITDA targets set by Compensation Committee |
| Equity | Non‑qualified options to purchase 500,000 shares; vest annually in equal installments over 3 years; not granted as of Record Date |
| Severance | Not disclosed for Carimi in filings reviewed |
| Change‑of‑Control | Not disclosed for Carimi in filings reviewed |
| Non‑compete/Non‑solicit | Not disclosed for Carimi in filings reviewed |
| Clawback Policy | Administered by Compensation and Governance Committee |
| Insider Trading / Anti‑Hedging & Pledging | Hedging, short sales, margin accounts, and pledging are prohibited |
Investment Implications
- Pay‑for‑performance alignment: Carimi’s cash incentive is tied to Company revenue and adjusted EBITDA, with no bonus paid in 2024, consistent with a performance‑conditioned structure . Equity exposure is anticipated via a 500,000‑option grant vesting over three years, but was not granted by the Record Date, which limits near‑term vesting‑driven selling pressure .
- Ownership and selling pressure: Beneficial ownership was below 1% and no pledged shares are permitted under policy, reducing forced‑selling/pledging risk; anti‑hedging rules further align with shareholder interests .
- Retention risk: Absent disclosed severance, non‑compete, or change‑of‑control terms specific to Carimi, retention relies on role scope and future equity grants; monitoring subsequent grants and any disclosed agreements is prudent .
- Company performance context: 2024 revenue growth (+15% to $19.1M) with weaker profitability (adjusted EBITDA $(8.7)M, net loss $(9.9)M) suggests near‑term incentives may emphasize operational execution and cash discipline; TSR metric of 108 in 2024 provides shareholder return context for the year .