Unusual Machines, Inc. (NYSE: UMAC) announced that its Compensation Committee approved a grant of warrants to purchase 5,000,000 shares of common stock to Chief Executive Officer Dr. Allan Evans, according to a press release statement.

In exchange for the warrant grant, Dr. Evans agreed to waive all cash compensation from the company after Dec. 31, 2026. The grant is subject to shareholder approval.

The warrants carry an exercise price of $25.00 per share and expire on July 24, 2031. They will vest in five equal tranches of 1,000,000 shares each, tied to the company's stock reaching price targets of $25.00, $40.00, $60.00, $80.00, and $100.00 per share, respectively. Each target is considered met when the average closing price over any 20-consecutive trading day period equals or exceeds the applicable threshold.

The Compensation Committee also approved five-year stock option grants to three other executives on the same date. President Andrew Camden received options to purchase 525,000 shares, while Chief Financial Officer Brian Hoff and Chief Revenue Officer Stacy Wright each received options to purchase 375,000 shares. All options are exercisable at $19.36 per share and vest in 12 equal quarterly installments over three years, subject to continued employment.