Crimson Wine grants CEO 500k performance-vested options, raises base salary to $375k

Crimson Wine Group, Ltd

CEO Jennifer L. Locke granted options to purchase 500,000 shares at $7.50, expiring March 11, 2032.
Options vest in four tranches (50k/100k/150k/200k) tied to Adjusted EBITDA targets for fiscal 2022-2025.
Base salary increased to $375,000; target annual cash bonus set at 50% of base salary effective Jan 1, 2022.
Options also have time-based vesting: 25% vests immediately upon performance goal satisfaction, remainder over 3 years.

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