Jarrett Boon
About Jarrett Boon
Jarrett Boon is Chief Executive Officer (CEO) and Director of Safety Shot, Inc. (now Bonk, Inc.) and has served as CEO since February 28, 2024, after joining as COO in August 2023 and becoming a director in October 2023 . As disclosed in the 2024 proxy, his age was listed as 54, and his background includes co-founding GBB Drink Lab (developer of Safety Shot) and being an early investor/executive commercial leader at LifeLock through its $2.3B sale to Symantec; he also founded SW Promotions (400 employees) . During his tenure, the company pivoted to a digital-asset treasury strategy centered on BONK, rebranded to Bonk, Inc. (ticker “BNKK” effective Oct 10, 2025), and refreshed its board, steps Boon led alongside expanding equity plan capacity; the company also received and resolved a Nasdaq compliance letter tied to 2025 financing mechanics .
Recent operating performance (revenues/EBITDA) is summarized below.
| Metric | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 |
|---|---|---|---|---|---|---|---|
| Revenues ($) | 132,702* | 170,732* | 710,240* | 110,213* | 182,174* | 42,101* | 44,948* |
| EBITDA ($) | -5,228,759* | -15,064,604* | -8,308,405* | -11,531,473* | -6,994,084* | -5,304,623* | -4,203,704* |
| Note: Values retrieved from S&P Global. Some periods may not be fully footnoted in company materials.* |
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Safety Shot, Inc. | Chief Operating Officer; Director | COO Aug 2023; Director Oct 2023 | Led launch/growth of Safety Shot functional drink |
| GBB Drink Lab | Co-Founder & CEO | Pre-acquisition → 2023 | Developed Safety Shot beverage; business acquired by Safety Shot |
| LifeLock | Early investor/exec business development | Prior to 2012 IPO and 2016 sale | Helped scale to ~$500M revenue; IPO (2012), $2.3B sale to Symantec (2016) |
| SW Promotions | Founder | Prior to acquisition | Built 400-person marketing/advertising firm; sold to public partner |
External Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| LifeLock | Thought leader/investor; commercial exec | Pre-2016 | Growth to $500M revenue; supported scale ahead of strategic exit |
Fixed Compensation
| Component | Terms |
|---|---|
| Base salary (CEO) | $300,000 per year, paid at least bi-monthly |
| Other benefits | “Customary employee benefits” |
| Prior COO agreement (Aug 18, 2023) | Base salary $150,000; 5% annual increases at renewal |
Performance Compensation
| Type | Metric & Weighting | Target/Trigger | Actual/Status | Payout & Vesting |
|---|---|---|---|---|
| Cash bonus (CEO) | Revenue; 1H FY2025 | If combined revenue for Q1+Q2 2025 ≥ $500,000 | Actual combined Q1+Q2 2025 revenue ≈ $87,049* | $100,000 cash + 500,000 restricted shares if achieved (not met based on reported revenues) |
| Stock bonus (CEO) | Revenue; 1H FY2025 | Same as above | Same as above | 500,000 restricted shares if achieved |
| Cash bonus (CEO) | Revenue; 2H FY2025 | If combined revenue for Q3+Q4 2025 ≥ $1,000,000 | Not yet measured in filings reviewed | $100,000 cash + 500,000 restricted shares if achieved |
| Stock grant (CEO) | Time-based | 1,000,000 restricted shares | Granted | Fully vested as of grant date |
| Options (COO agreement) | Service-based | 100,000 options at market price | Vest quarterly over 3 years | Vesting quarterly over 3 years (grant under COO agreement) |
Notes: Revenue actuals from S&P Global (table above). Values retrieved from S&P Global.*
Equity Ownership & Alignment
| Date | Direct/Indirect Shares | Options | Total Beneficial Ownership | % of Outstanding | Notes |
|---|---|---|---|---|---|
| Sep 25, 2025 (Record Date) | 4,467,000 | 3,250,000 | 7,717,000 | 4.3% | Per DEF 14A special meeting; includes options exercisable within 60 days |
| Jun 7, 2024 (Record Date) | 4,917,000 | 2,000,000 | 6,917,000 | 8.21% | As COO/Director in 2024 proxy |
Additional alignment/dilution context:
- Equity plan capacity increases: 2024 Equity Incentive Plan initially 15,000,000 shares (approved July 31, 2024) ; shareholder-approved amendment on June 12, 2025 to increase the plan by up to 22,000,000 additional shares .
- Authorized common shares increased from 100,000,000 to 250,000,000 (July 31, 2024 record date proxy) , and later to 1,000,000,000 via October 31, 2025 special meeting proposal .
Pledging/hedging: No pledging or hedging disclosures for Boon were identified in reviewed filings. If not disclosed, assume not permitted or not undertaken.
Vested vs. unvested detail: The 1,000,000 restricted shares were fully vested on grant . Remaining granular vesting by tranche for options was not disclosed beyond the COO grant vesting cadence .
Employment Terms
| Item | Boon (CEO) |
|---|---|
| Appointment | CEO effective February 28, 2024 |
| CEO employment agreement (Dec 16, 2024) | Base salary $300,000; fully vested RS grant (1,000,000 shares); two revenue-conditioned incentives each comprising $100,000 cash + 500,000 restricted shares for 1H25 and 2H25 revenue targets; customary benefits |
| Severance/Change-of-control (employment) | Not specified in summarized Item 5.02 disclosure for Boon’s 12/16/2024 agreement; no severance or CoC multiples disclosed in the excerpt |
| Equity plan CoC mechanics (plan-level) | Compensation Committee may accelerate vesting of options and restricted stock upon a Change in Control, at its discretion and as reaffirmed in the filed 2024 Plan |
| Prior COO agreement (Aug 18, 2023) | Base salary $150,000 (5% annual increase), 100,000 options vesting quarterly over 3 years; discretionary annual cash bonus 33%-50% of base based on achievements |
| Related party | Company disclosed no Item 404(a) related party transactions involving Boon at the time of his CEO agreement |
Performance & Track Record (qualitative)
- Strategic pivot and rebranding: Company rebranded to Bonk, Inc. and changed ticker to “BNKK” effective Oct 10, 2025; strategy centers on BONK ecosystem, revenue-share interests, and building a BONK token treasury .
- BONK treasury exposure and risk: Company holds a very large BONK position (~2,236,741,655,211.26 BONK tokens as of Sep 25, 2025) and outlines material risks, liquidity constraints, volatility, governance/legal uncertainties, and potential hedging plans; describes goal to accumulate 5% of BONK supply and to monetize holdings via custodians/asset managers .
- Governance/board refresh: Appointments of DeFi and digital-asset-experienced directors (Connor Klein, Stacey Duffy, Jamie McAvity) and resignation of Schur and Pascucci; designed to align board with BONK strategy .
- Nasdaq compliance event resolved: Nasdaq identified violations in August 2025 transactions (notifications, shareholder approval, voting rights), but the company amended terms and disclosures and regained compliance; matter closed .
- Management actions: Newly appointed CFO (July 31, 2025) under Boon’s tenure .
Compensation Committee & Peer Framework
- Compensation Committee members (2024): Melton, Pascucci, Long; Long as chair, all independent under Nasdaq standards .
- Equity plan governance: 2024 Plan allows committee discretion on vesting and CoC acceleration; stockholder approvals captured in 8-K filings .
Investment Implications
- Pay-for-performance alignment: CEO incentives are explicitly tied to near-term revenue production with cash-and-stock payouts for 1H/2H 2025 thresholds; based on reported S&P Global data, 1H25 revenue (~$87k*) appears below the $500k target, implying the 1H payout is unlikely to have been earned, which supports alignment but also signals execution risk on organic revenue scaling . Values retrieved from S&P Global.*
- Supply/dilution and selling pressure: Fully vested 1,000,000-share grant, large option holdings (3.25M options as of Sep 25, 2025), major equity plan expansions (+15M then +22M shares) and authorized share increases (to 250M in 2024; to 1B proposed in 2025) create potential overhang that could pressure the stock if used for financing or grants .
- Alignment via ownership: Boon’s beneficial ownership stood at 4.3% of outstanding shares as of Sep 25, 2025 (7.717M including options), a meaningful stake indicating skin-in-the-game, though dilution reduced his percentage from 8.21% in mid-2024 to 4.3% in late 2025 .
- Strategy and risk profile: The BONK-focused treasury strategy and large token exposure introduce significant volatility and regulatory/operational risk; governance is evolving to match this strategy but macro/market conditions for digital assets will be a key driver of realized value .
References:
- CEO appointment and bio:
- CEO employment terms (Dec 16, 2024):
- Ownership tables (2025 and 2024):
- Equity plan approvals and increases:
- Authorized shares increases:
- Rebrand and strategy shift:
- Nasdaq compliance letter resolved:
- CFO appointment under Boon:
Note on financials: Quarterly revenues/EBITDA values marked with asterisks are retrieved from S&P Global.*