Erick Soto
authIDAbout Erick Soto
Erick Soto is Chief Product Officer at authID, appointed in late September 2024, with over 15 years of identity/product leadership experience and prior roles at Oxygen Health (CPO), BBVA (Chief Product Officer – New Digital Initiatives), and Socure (VP of Product, where he and authID CEO Rhon Daguro helped build Socure to a $4.5B valuation) . His authID employment commenced September 23, 2024, with an annual base salary of $325,000 and a target bonus equal to 20% of base; his 2024 pro-rated bonus was $17,760 . Age and formal education are not disclosed in company sources. The company states no executive has been subject to significant legal or regulatory sanctions in the last ten years .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Oxygen Health (neobank/health benefits) | Chief Product Officer | Not disclosed | Led product; experience in fintech identity and benefits |
| BBVA | Chief Product Officer – New Digital Initiatives | Not disclosed | Drove new digital identity initiatives at global bank |
| Socure | VP of Product | Not disclosed | Partnered with current authID CEO to scale Socure to $4.5B valuation |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Identity verification providers, fintechs, neobanks | Adviser | Not disclosed | Advisory work across identity/fraud businesses |
Fixed Compensation
| Year | Base Salary ($) | Target Bonus (% of base) | Actual Bonus Paid ($) | All Other Compensation ($) |
|---|---|---|---|---|
| 2024 | 88,750 | 20% | 17,760 | 1,625 (primarily 401(k) match) |
| Employment terms | 325,000 annual base (as of hire) | 20% | Pro-rated for 2024 (17,760) | — |
Notes:
- Hired September 23, 2024 as Chief Product Officer .
- 2024 Summary Compensation Table totals: $679,458, including $571,323 option award fair value .
Performance Compensation
| Metric | Weighting | Target | Actual/Payout | Vesting/Timing |
|---|---|---|---|---|
| Annual performance bonus (milestones not specified) | Not disclosed | 20% of base | 2024 paid $17,760 (pro-rated) | Annual cash bonus; specific milestones not disclosed |
Equity Award Grant Practices: Company grants equity only in “open” trading windows and at least 3 business days after earnings/8-K disclosures; executive grants restricted around SEC filings to mitigate MNPI risk .
Equity Ownership & Alignment
| As of | Total Beneficial Ownership (shares) | Ownership % of outstanding | Components and Vesting Status |
|---|---|---|---|
| May 5, 2025 | 25,001 | <1% (“*”) | Includes 1 share of common stock and options; 25,000 options deemed beneficial as vesting within 60 days per SEC rules |
| Dec 31, 2024 | Options exercisable: 8,333; unexercisable: 91,667 | — | Option exercise price $6.94; expiration Nov 29, 2034 |
| July 5, 2025 | 25,000 options vested by this date | — | Continues 36-month monthly vesting |
Policy signals:
- Clawback: Nasdaq Rule 5608-compliant policy adopted Oct 6, 2023 for recovery of erroneously awarded incentive compensation after restatements .
- Hedging/pledging: No explicit disclosure for executives found in the proxy; ownership guidelines not disclosed.
Performance Compensation – Equity Awards
| Grant Date | Instrument | Shares | Strike/Grant Price | Term/Expiration | Vesting Schedule | Grant-Date Fair Value |
|---|---|---|---|---|---|---|
| Nov 12, 2024 | Non-ISO Stock Options | 100,000 | $6.94 | 10 years; expires Nov 29, 2034 | 36 equal monthly installments over 3 years, subject to continued employment | $571,323 |
Option exercise/vesting activity:
- No option exercises or restricted stock vesting for named executives in 2024 .
Employment Terms
- Start date/role: Hired September 23, 2024 as Chief Product Officer .
- Executive Retention Agreement: Upon termination “upon a change of control” or an “involuntary termination” (as defined), entitled to severance equal to 100% of base salary (no additional terms disclosed for bonus or COBRA for Mr. Soto) .
- Clawback Policy: Company policy (Nasdaq Rule 5608) to recover erroneously awarded incentive-based compensation after an accounting restatement .
- Other standard benefits: Company provides 401(k) match referenced in compensation footnotes; broader benefits are not detailed for Mr. Soto .
Investment Implications
- Pay-for-performance alignment: Cash bonus is modest (20% of base, pro-rated $17,760 for 2024) with majority of 2024 compensation driven by options ($571,323 grant-date fair value), vesting monthly over 36 months—aligns retention and long-term value creation but could create incremental monthly selling capacity as tranches vest .
- Insider selling pressure: As of year-end 2024, 8,333 options were exercisable and none exercised; 25,000 options were vested by July 5, 2025. Monitor Form 4s for sell-to-cover patterns given monthly vesting cadence .
- Severance/CIC economics: Single summary term disclosed—100% of base salary on termination upon change-of-control or involuntary termination—modest relative to market, with limited disclosure of bonus/CIC accelerations for Mr. Soto (CEO/CTO have broader COBRA and bonus terms; Soto’s agreement appears narrower) .
- Governance and award timing controls: Equity grant policy mitigates MNPI risk by timing awards in open windows and spacing after disclosures, reducing backdating/repricing risk; clawback policy is a positive governance feature .
- Execution track record: Background spans leading identity platforms (Socure unicorn build, BBVA digital initiatives), supportive of product-led growth; precise revenue/EBITDA metrics not disclosed for Soto’s tenure at authID, so focus near-term on bookings and ARR disclosures in company filings for correlation to bonus metrics .