Monitor NextBoat's progress toward EBITDA milestones and stock price targets, as these trigger option vesting and management incentive alignment. No immediate trading signal from this initial ownership filing.
Price Chart
Executive Summary
Ross Tannenbaum filed a Form 3 initial statement of beneficial ownership after becoming CEO of NextBoat Inc., reporting inducement stock options for 2.5 million shares at a $1.96 strike price. The options have performance-based and time-based vesting tied to EBITDA targets and stock price milestones, signaling alignment with shareholder value creation but no immediate cash or ownership change.
Key Facts
- Ross Tannenbaum appointed CEO of NextBoat Inc. (formerly Off The Hook YS Inc.)
- Granted inducement non-qualified stock options for 2,500,000 shares at $1.96 per share
- Options vest based on time (48 monthly installments), EBITDA targets ($0, $1.5M, $3M, $5M), and stock price ($5.00 for 60 consecutive trading days)
- 200,000 shares vested immediately on grant date (September 28, 2026)
- Options expire September 28, 2036
- Options granted outside the 2025 Equity Incentive Plan under NYSE American Rule 711(a)
Financial Impact
2.5 million shares of potential dilution at $1.96 strike; no immediate cash impact
Risk Factors
- Options are inducement grants with no cash outlay; dilution risk if all options vest and are exercised
- Performance targets (EBITDA, stock price) may not be achieved, reducing incentive alignment
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 3 Filing (Primary) | 0001493152-26-046338 |
| Document: 0001493152-26-046338-index.html | 0001493152-26-046338 |
| Document: 0001493152-26-046338.txt | 0001493152-26-046338 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 9, 2026 17d ago | 8-K | — | awaiting T+5 | — | — |
Oct 8, 2026 18d ago | 3 | — | awaiting T+5 | — | — |
May 19, 2026 22w ago | 8-K | $2.42 $2.45 | ▲ +1.03% | ▼ −1.21% | — |
May 14, 2026 23w ago | 8-K | $2.63 $2.56 | ▼ −2.48% | ▼ −3.44% | — |
May 14, 2026 23w ago | 8-K | $2.71 $2.56 | ▼ −5.54% | ▼ −4.82% | — |
Apr 9, 2026 28w ago | 8-K | $3.78 $3.03 | ▼ −19.84% | ▼ −23.03% | — |
Apr 6, 2026 29w ago | 8-K | $2.72 $3.05 | ▲ +12.13% | ▲ +8.00% | — |
Apr 2, 2026 29w ago | 8-K | $2.70 $3.24 | ▲ +20.00% | ▲ +16.38% | — |
Apr 1, 2026 29w ago | Press Release | $2.43 $3.78 | ▲ +55.56% | ▲ +51.79% | — |
Mar 23, 2026 31w ago | Press Release | $2.03 $2.00 | ▼ −1.48% | ▲ +2.09% | — |
US Market Status
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