Phunware Awards CEO 105,820 RSUs Plus 317,460 Performance RSUs and $5 Options
PHUN•Phunware granted new CEO Dmitry Kroshka inducement awards of 105,820 time-vested RSUs, 317,460 performance-vested RSUs and options for 105,820 shares at a $5 exercise price. Performance RSUs vest if shares exceed a $5 VWAP for 20 days and the company hits $4.5M revenue trailing 12 months.
1. Inducement Grant Details
Phunware appointed Dmitry Kroshka as Chief Executive Officer effective May 13, 2026 and approved an inducement grant under its 2026 Inducement Plan, featuring 105,820 time-vested RSUs, 317,460 performance-vested RSUs and a stock option for 105,820 shares at a $5 exercise price.
2. Vesting Schedules and Performance Conditions
Time-vested RSUs vest over a three-year schedule with one-third vesting after one year and equal quarterly installments thereafter; performance RSUs vest upon achieving a $5 VWAP for 20 trading days and at least $4.5 million in trailing twelve-month revenue; options vest quarterly over four years starting May 13, 2026.
3. Potential Impact on Shareholder Equity
If performance thresholds are met and options are exercised, these awards could dilute existing shares but align executive incentives with stock price appreciation and revenue growth, reinforcing management’s focus on long-term value creation.
