On Dec. 3 and Dec. 4, 2025, Director George Raymond Zage III acquired a total of 155,000 shares of Grindr (GRND 1.40%) through multiple open-market purchases, with an aggregate value of approximately $2.1 million, according to the SEC Form 4 filing.
Transaction summary
| Metric | Value |
|---|---|
| Shares traded | 155,000 |
| Transaction value | $2.1 million |
| Post-transaction shares (direct) | 8,063,283 |
| Post-transaction value (direct ownership) | ~$109 million |
Transaction value based on SEC Form 4 weighted average purchase price ($13.49); post-transaction value based on Dec. 4, 2025 market close ($13.49).
Key questions
- What is the proportional impact on the insider's overall and direct holdings?
The purchase raised direct post-transaction holdings to 8,063,283 shares, with indirect holdings via Big Timber Holdings, LLC at 1,385,507 shares. - Does this transaction alter the insider's capacity for future trades?
With a post-transaction direct holding of 8,063,283 shares and a holdings remaining ratio of 92.2%, the insider retains substantial capacity for additional activity, consistent with a net-buy trend over the past year. - How does the purchase price compare to recent market pricing and performance?
The shares were acquired at around $13.49 per share; as of Dec. 4, 2025, the stock is down 11.5% over the prior year, indicating these purchases were made near prevailing market levels.
Company overview
| Metric | Value |
|---|---|
| Market capitalization | $2.55 billion |
| Revenue (TTM) | $411.55 million |
| Net income (TTM) | -$49.36 million |
| 1-year price change | -11.50% |
Note: 1-year price change calculated as of Dec. 4, 2025.
Company snapshot
- Operates a leading social networking platform for the LGBTQ community, offering both free, ad-supported and premium subscription services.
- Generates revenue primarily through advertising and paid subscription fees for enhanced features and experiences.
- Targets gay, bi, trans, and queer individuals seeking community engagement, connection, and self-expression.
Grindr is a technology company specializing in social networking solutions for the LGBTQ community.
The company leverages a dual revenue model -- advertising and subscriptions -- to drive growth and monetize its engaged user base.
NYSE: GRND
Key Data Points
What this transaction means for investors
Zage and his business partner James Lu owned a combined 64% of the company as of Nov. 26, according to Forbes. The controlling shareholders withdrew a $3.5 billion bid to take the dating app company private earlier this year, pledging instead to buy additional shares of the company and keep it on the public markets.
Zage holds more than 8 million shares of Grindr directly, as well as 1,385,507 shares through his LLC Big Timber, and a whopping 86 million shares through Tiga Eighty-Eight Pte Ltd., which is 100% indirectly owned by Zage, according to the SEC report.
Grindr released its latest earnings report on Nov. 7, sending the stock soaring 11% on an explosive performance and declaring 2025 was easily the best year in the company's history from a financial perspective.
Zage has a net worth north of $1 billion, a bulk of which comes from his investment in Grindr, according to Forbes. Given his financial situation, smaller retail investors probably won't benefit from copying his investment moves. But they could benefit from management boosting shareholder returns by increasing share buybacks or paying dividends, something Zage has argued for in the past.
Glossary
Insider activity: Transactions in a company’s stock by its executives, directors, or major shareholders.
Open-market purchase: Buying shares directly on a public exchange, rather than through private transactions or company programs.
SEC Form 4: A required filing that discloses insider trades of company stock to the public.
Aggregate value: The total dollar amount of all shares bought or sold in a transaction.
Direct ownership: Shares held personally by an individual, not through intermediaries or entities.
Indirect holdings: Shares owned through another entity, such as a trust or investment company, rather than personally.
Net accumulation: A trend where an insider increases their holdings over time, buying more shares than they sell.
Disposition: The act of selling or otherwise transferring ownership of shares.
Holdings remaining ratio: The percentage of shares still owned after a transaction, relative to prior holdings.
Weighted average purchase price: The average price paid per share, adjusted for the number of shares bought at each price.
Subscription services: Paid offerings that provide users with premium features or experiences, billed on a recurring basis.
TTM: The 12-month period ending with the most recent quarterly report.
