Anton Feingold
About Anton Feingold
Anton S. Feingold is General Counsel (since April 2019) and Vice President & Secretary (since April 2014) of Ares Commercial Real Estate Corporation (ACRE) (age 44 as of April 3, 2025) . He is a Partner and Associate General Counsel in the Ares Legal Group, Assistant Secretary of Ares Management Corporation, Vice President and Assistant Secretary of CION Ares Diversified Credit Fund, and serves as a director of Postal Realty Trust, Inc. (NYSE: PSTL) . He earned an LL.B (Hons) from the University of Birmingham and a Postgraduate Diploma in Legal Practice from BPP University in London . ACRE is externally managed; executive officers are employees of Ares affiliates, do not receive cash compensation directly from ACRE, and ACRE reimburses the Manager for an allocable share of certain personnel costs; the Company does not determine their compensation levels .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Clifford Chance | Senior Associate | 2004–2014 | — |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Postal Realty Trust, Inc. (NYSE: PSTL) | Director | — | Current outside public board |
| Ares Management Corporation | Assistant Secretary | — | Affiliate role |
| CION Ares Diversified Credit Fund | Vice President and Assistant Secretary | — | Affiliate role |
Fixed Compensation
Note: ACRE is externally managed; amounts below are ACRE’s reimbursed allocable share to the Manager for Mr. Feingold’s compensation (he does not receive cash directly from ACRE) .
| Year | Salary ($) | Bonus ($) | Source |
|---|---|---|---|
| 2024 | 128,846 | 92,033 | 2025 DEF 14A |
| 2023 | 90,373 | 81,901 | 2025 DEF 14A |
| 2022 | 117,083 | 101,899 | 2025 DEF 14A |
Performance Compensation
| Year | Stock Awards ($) (Grant Date Fair Value) | Notes |
|---|---|---|
| 2024 | 108,630 | Time-based RSUs; no fixed formula metrics applied |
| 2023 | 226,800 | Time-based RSUs; no fixed formula metrics applied |
| 2022 | 209,040 | Time-based RSUs |
RSU Grants and Vesting Schedule (Detail)
| Grant Date | Type | Shares Granted | Vesting Terms | Status/Footnotes |
|---|---|---|---|---|
| Dec 20, 2024 | RSU | 17,000 | 1/3 annually on Jan 1, 2026, 2027, 2028 | Grant Date FV $108,630 |
| Dec 20, 2023 | RSU | 21,000 | 1/3 annually on Jan 1, 2025, 2026, 2027 | Time-based |
| Dec 20, 2022 | RSU | 13,000 | 1/2 on Jan 1, 2025; 1/2 on Jan 1, 2026 | Time-based |
| Dec 21, 2021 | RSU | 4,500 | Vested Jan 1, 2025 | Time-based |
Performance Metrics and Payout Determination (Narrative)
- Equity awards (2023–2024) were time-based RSUs; the compensation committee did not apply fixed metrics, instead considering stock performance, return on equity, investment activity, financing management, operations/policies, and individual performance; RSUs receive dividend equivalents and vest as scheduled subject to service .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial Ownership (as of Mar 26, 2025) | 78,360 shares; less than 1% of outstanding, based on 54,856,977 shares |
| Unvested RSUs at FY2024 End | 55,500 units; market value $326,895 at $5.89 close (12/31/2024) |
| Prior-Year Unvested (FY2023 End) | 53,000 units; market value $549,080 at $10.36 close (12/31/2023) |
| Options | No stock options granted to date |
| Hedging/Pledging | Prohibited for insiders without prior compliance approval; short sales and speculative derivatives restricted |
| Ownership Guidelines | Formal quantitative guidelines apply to CEO (100,000 shares) and CFO (32,000 shares); directors x3 annual cash fees; all directors/executive officers have met or are on track, subject to grace periods; no explicit GC requirement disclosed |
Employment Terms
| Term | Provision |
|---|---|
| Employment/Comp Structure | Externally managed; executive officers employed by Ares affiliates; no direct cash from ACRE; ACRE reimburses allocable share; ACRE does not determine their compensation |
| RSU Forfeiture | Unvested RSUs generally forfeit upon termination, except as noted below |
| RSU Acceleration – Death/Disability | Full vesting |
| RSU Acceleration – Change in Manager Event | Full vesting |
| RSU Acceleration – Termination by Ares Operations LLC Without Cause | Portion that would have vested in 12 months vests |
| Change in Control (Company) | Committee may make adjustments if no substantial adverse economic impact to participants; not an automatic double-trigger |
| Clawback | Clawback policy adopted in compliance with NYSE/Exchange Act Section 10D |
| Anti-Hedging/Pledging | Prohibitions in insider trading policy; prior approval required for any pledging; shorting/derivatives restricted |
Potential Acceleration Values (Illustrative, as of 12/31/2023)
| Scenario | Anton Feingold – Acceleration Value ($) | Pricing Assumption |
|---|---|---|
| Termination w/o Cause (12 months of scheduled vesting) | 150,220 | Based on $10.36 close (12/31/2023) |
| Death or Disability | 549,080 | Based on $10.36 close (12/31/2023) |
| Change in Manager Event | 549,080 | Based on $10.36 close (12/31/2023) |
| Termination in connection with Change in Control | — (no automatic payment disclosed) | — |
Governance and Shareholder Feedback
- Compensation Committee members: James E. Skinner (Chair), Rand S. April, William L. Browning; committee oversees equity plan and Manager performance/fees; CD&A reviewed and recommended by committee .
- Compensation consultant: Ferguson Partners Consulting (FPC) engaged in 2024; independence reviewed; no conflicts per SEC/NYSE rules .
- Say-on-Pay (2025 Annual Meeting, May 27, 2025): Votes For 19,652,363; Against 1,929,540; Abstain 346,235; broker non-votes 17,620,714; frequency vote favored annual; company will include annual Say-on-Pay .
Investment Implications
- Pay-for-performance alignment: Mr. Feingold’s cash is modest and reimbursed, while equity is predominantly time-vested RSUs without explicit performance conditions; the committee uses discretion across stock/ROE/operational factors, which provides flexibility but less formulaic linkage to objective KPIs .
- Vesting and potential selling pressure: Upcoming RSU tranches vest 1/1/2026–1/1/2028 from 2024 grants and 1/1/2026–1/1/2027 from 2023/2022 grants, creating periodic windows for Form 4 activity and potential supply; monitor trading windows around these dates .
- Alignment and risk controls: Beneficial ownership of 78,360 shares and 55,500 unvested RSUs support alignment; no options outstanding reduces leverage risk; anti-hedging/pledging policies curb misalignment, and a compliant clawback is in place .
- Retention/transition dynamics: Full acceleration on a Change in Manager Event and death/disability, and 12‑month vesting on without-cause termination by Ares, mitigate downside for the executive in transitions; committee discretion (not automatic double-trigger) on corporate change-in-control may moderate windfall risk .
- Shareholder sentiment: Strong Say‑on‑Pay support in 2025 suggests investors broadly accept the externally managed, equity-heavy construct for NEOs, including the GC .