Bradly W. Spoor
About Bradly W. Spoor
Bradly W. Spoor, age 46, has served on BayFirst’s Board since 2016. He is CEO of Spoor Street Investments, LLC (since 2015), Principal at Pelican Bay Capital, LLC (since 2010), and previously Managing Partner/operator at P&B Capital Group, LLC (2002–2013) and owner of SKW Capital, LLC (2006–2011). He holds industry certifications from Receivables Mgmt Association International, Credit & Collections Professionals, and ACA International LLC, with a background in financial services and loan recovery operations .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Spoor Street Investments, LLC | Chief Executive Officer | 2015–present | Strategic vision, operations, multi-industry investments |
| Pelican Bay Capital, LLC | Principal | 2010–present | Investment strategy, business management, oversight |
| P&B Capital Group, LLC | Managing Partner & operator | 2002–2013 | Customer service and loan recovery leadership |
| SKW Capital, LLC | Owner (Distressed Receivables) | 2006–2011 | Built and operated distressed receivables business |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Spoor Street Investments, LLC | CEO | 2015–present | Private investment firm |
| Pelican Bay Capital, LLC | Principal | 2010–present | Private investment entity |
| P&B Capital Group, LLC | Managing Partner | 2002–2013 | Private loan recovery firm |
| SKW Capital, LLC | Owner | 2006–2011 | Private distressed receivables business |
Board Governance
| Attribute | Details |
|---|---|
| Committee memberships | Audit and Risk Management Committee – Member ; Executive Committee – Member |
| Committee chair roles | None (not listed as chair in committee matrix) |
| Independence | Board determined all Audit and Risk Management Committee members (including Spoor) are independent under Nasdaq and SEC audit committee rules . Majority of the Board is independent; specific non-independent directors disclosed (Zernick, Oliver, Leo, Politis) . |
| Attendance | All directors attended at least 75% of Board and committee meetings in 2024; Board held 9 meetings . |
| Audit Committee report | Audit & Risk Management Committee report lists Spoor as a signatory member . |
Fixed Compensation
| Year | Cash Fees Earned ($) | Stock Awards ($) | Total ($) |
|---|---|---|---|
| 2024 | 43,000 | 10,823 | 53,823 |
| Fee Component | Amount |
|---|---|
| Board meeting fee (Company) | $1,500 per meeting |
| Bank Board meeting fee | $1,500 per meeting |
| Committee meeting fees | $500 per meeting (Credit & Loan, Audit & Risk, Compensation, CSR, Asset Liability, Bank Compliance) |
| Chair retainers | Board & Bank Board Chair: $22,500; Audit & Risk Chair: $10,000; Nominating Chair: $7,500; Bank Asset Liability Chair: $7,500; Compensation Chair: $7,500; CSR Chair: $5,000 |
Performance Compensation
| Component | Detail |
|---|---|
| Director equity awards | Stock awards reported at grant-date fair value; Spoor’s 2024 stock awards: $10,823 . |
| Plan framework | Equity Incentive Plan (EIP) allows stock options, restricted stock, RSUs and other equity awards; share reserve up to 15% of outstanding (max 1,500,000 shares). Board developing an Equity Grant Timing Policy requiring grants in open trading windows and not when in possession of MNPI; grants in Feb 2024 occurred four days post year-end earnings release, consistent with prior-year timing . |
| Performance metrics | Proxy’s director compensation section does not disclose performance metrics for director equity awards; awards shown as “Stock Awards” dollar values . |
Other Directorships & Interlocks
| Company | Role | Market | Notes |
|---|---|---|---|
| None disclosed | — | — | Proxy biography lists private company leadership roles; no public company directorships indicated for Spoor . |
Expertise & Qualifications
- Financial services, distressed receivables, and loan recovery operations; CEO/Principal experience in investment and business management .
- Industry certifications: Receivables Mgmt Association International, Credit & Collections Professionals, ACA International LLC .
Equity Ownership
| Attribute | Value |
|---|---|
| Shares owned | 24,519.87 |
| Right to acquire within 60 days | 16,950 (options/warrants) |
| Percent of beneficial ownership | 1.00% (based on 4,129,027 shares outstanding) |
| As-of date | March 24, 2025 |
| Hedging policy | Directors prohibited from short selling and trading puts/calls on company securities . |
| Section 16(a) compliance | Company reports no delinquent filings for directors in 2024 except one late Form 4 by Anthony Leo; no exceptions noted for Spoor . |
Governance Assessment
- Alignment: Spoor holds common stock and near-term exercisable rights to acquire shares; equity participation plus anti-hedging rules support alignment with shareholders .
- Independence and oversight: As an Audit and Risk Management Committee member, the Board affirms independence under Nasdaq and SEC rules; participation in Audit committee enhances financial reporting oversight .
- Engagement: Met attendance expectations (≥75%) with 9 board meetings held in 2024; audit committee report signatory indicates active committee engagement .
- Compensation mix: Director pay is modest and predominantly cash with supplemental equity; no director-specific performance metrics disclosed, typical for community bank boards; equity awards administered under the EIP with emerging grant timing policy to mitigate “spring-loading” concerns .
- Conflicts and related-party exposure: Proxy discloses related-party transactions for certain directors (facility lease linked to Politis family; insurance services with Berset family entities) and $9.26M in loans to insiders as of year-end (0.87% of loan portfolio) subject to disinterested approval; no Spoor-specific related-party transactions disclosed .
- RED FLAGS: None specifically disclosed for Spoor. Structural watchpoints include Executive Committee membership alongside management, which can dilute independent counterbalance if not carefully governed, though Spoor remains independent per audit committee standards .