William McCamey
Atlanticus HoldingsAbout William McCamey
Chief Financial Officer of Atlanticus since January 2014; previously Treasurer from 2004 to 2015, with over 31 years’ experience in capital markets and finance. Age 55 as of the 2025 proxy record date . Pay-versus-performance disclosures show company TSR index values of 36.74 (2022), 54.22 (2023), 78.21 (2024) on a $100 base invested 12/31/2021, alongside net income of $134.6m (2022), $102.0m (2023), and $110.1m (2024) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Atlanticus Holdings Corporation | Chief Financial Officer | 2014–present | Senior finance leader; 31+ years capital markets/finance experience |
| Atlanticus Holdings Corporation | Treasurer | 2004–2015 | Long-tenured treasury leadership preceding CFO role |
External Roles
- Not disclosed in 2025/2024 proxy officer bios .
Fixed Compensation
| Metric (USD) | 2022 | 2023 | 2024 |
|---|---|---|---|
| Base Salary | $750,000 | $750,000 | $750,000 |
| Annual Bonus (Cash) | $332,000 | $332,000 | $332,000 |
| Stock Awards (Grant-Date Fair Value) | $460,039 | $500,020 | $333,023 |
| Option Awards | — | — | — |
| All Other Compensation (401k match) | $4,575 | $9,900 | $10,350 |
| Total Reported Compensation | $1,546,614 | $1,591,920 | $1,425,373 |
| Current Contracted Base Salary | $750,000 (via employment agreement; originally $450,000, adjusted to current) |
Performance Compensation
Annual Incentive (Cash)
- Target bonus percentage and specific performance metric weightings/thresholds were not disclosed in the proxy; actual bonuses paid shown above .
Equity Awards and Vesting Schedules (Outstanding at 12/31/2024)
| Grant Type | Grant Date | Shares Unvested at 12/31/24 | Market Value at 12/31/24 | Vesting Schedule |
|---|---|---|---|---|
| Stock Option | 11/11/2020 | — (1,000 options were fully vested) | — | Vested 1/3 each on 11/11/2021, 11/11/2022, 11/11/2023; Exercise price $15.30; Exp. 11/11/2025 |
| Restricted Stock | 3/14/2022 | 220 | $12,272 | Vests 3/14/2027 |
| Restricted Stock | 3/14/2022 | 3,291 | $183,572 | Vested on 3/14/2025 (was unvested at 12/31/2024) |
| Restricted Stock | 3/13/2023 | 13,291 | $741,372 | Vests in two substantially equal installments on 3/13/2025 and 3/13/2026 |
| Restricted Stock | 3/08/2024 | 10,830 | $604,097 | Vests in three equal installments on 3/08/2025, 3/08/2026, 3/08/2027 |
Notes:
- Company policy: annual equity awards typically approved mid‑March following 10‑K filing; no options granted to NEOs during blackout-adjacent periods in 2024 .
Equity Ownership & Alignment
| Ownership Detail | Amount |
|---|---|
| Total Beneficial Ownership (Common) | 732,612 shares; 4.8% of class |
| Components/Footnotes | Includes options exercisable within 60 days (1,000), restricted stock with voting/no investment power (14,086), 18,000 shares held by spouse, and 585,016 shares held by an LLC controlled by the reporting person |
| Options Outstanding (exercisable) | 1,000 options at $15.30, expiring 11/11/2025 |
| Unvested RS (as of 12/31/24) | See table above; multiple tranches vest 2025–2027 |
| Pledging/Hedging | No pledging indicated in McCamey’s footnote; pledging disclosures in table relate to Hanna affiliates, not McCamey |
| Stock Ownership Guidelines | Not disclosed in the proxy sections reviewed |
Vesting-driven selling pressure watchlist:
- Key dates: 3/13/2025, 3/08/2025, 3/13/2026, 3/08/2026, 3/08/2027; multiple time-based RS tranches vesting on each date (see award schedules) .
Employment Terms
| Term | Economics/Terms |
|---|---|
| Agreement | Employment agreement dated March 28, 2014; CFO; eligible for bonus and equity as determined by Comp Committee |
| Base Salary | Originally $450,000; currently adjusted to $750,000 |
| Termination (Notice) | Either party may terminate on 30 days’ notice; Company can terminate for “cause”; termination upon “complete disability”; immediate vesting of outstanding equity upon death/disability or by Atlanticus other than for “cause” |
| Severance | No severance or other benefits upon termination (beyond notice period) |
| Change in Control | No specific CIC cash multiple disclosed; see 2022 year-end modeled values below |
| Non-Compete | If Atlanticus elects to pay salary for one year after termination, a non-compete covenant applies (per 2023 proxy disclosure) |
| Clawback | Executive clawback policy effective Oct 2, 2023; Dodd-Frank compliant; recovers incentive-based comp tied to financial reporting for 3 fiscal years preceding any restatement |
Modeled termination/CIC values (as of 12/31/2022 from 2023 proxy):
| Scenario (12/31/2022) | Salary | Bonus | Equity Acceleration | Health/Welfare Benefits | Total |
|---|---|---|---|---|---|
| Disability or Death | $62,500 | — | $268,066 | $1,897 | $332,463 |
| Without Cause or With Good Reason | $62,500 | — | $268,066 | $1,897 | $332,463 |
| With Cause or Without Good Reason | — | — | — | — | — |
| Change of Control (not term-related) | — (no separate cash benefit disclosed) | — | — (see note) | — | — |
Note: For McCamey, immediate vesting is tied to death/disability or termination by Atlanticus other than for cause (per employment agreement) rather than a standalone CIC cash multiple .
Compensation Committee Analysis
- 2024 Compensation Committee members: Joann G. Jones (Chair), Deal W. Hudson, Mack F. Mattingly; met four times in 2024 .
- Interlocks: None; no relationships requiring disclosure under related party transactions .
- Risk and Clawback: Company asserts comp programs do not encourage excessive risk; clawback policy effective Oct 2, 2023, aligned to Dodd‑Frank .
Say-on-Pay & Frequency
- 2025 meeting includes advisory say‑on‑pay and a vote on frequency; Board recommends “Every Three Years” for future say‑on‑pay frequency .
Investment Implications
- Alignment vs. retention: High direct/indirect ownership (4.8%) and time‑based RS vesting through 2027 support alignment and retention; no severance multiple and simple 30‑day notice reduce entrenchment risk .
- Potential selling pressure windows: Multiple RS tranches vest on 3/08/2025, 3/13/2025, 3/13/2026, 3/08/2026, 3/08/2027; monitor Form 4s around these dates for liquidity events .
- Pay structure and risk: Bonus has been steady ($332k each of 2022–2024) with equity moving from $500k (2023) to $333k (2024), indicating moderated equity grant value; no options granted in 2022–2024 and limited outstanding options reduce option-related dilution risk .
- Governance safeguards: Dodd‑Frank‑compliant clawback in place, and no disclosed pledging by McCamey (pledging footnotes pertain to Hanna affiliates), mitigating alignment red flags .
- Performance context: Net income remained strong in 2024 ($110.1m) with improving TSR index 2022→2024; continued performance should support equity realization for time-based awards .