James Silk
About James Silk
James G. Silk is Interim Chief Executive Officer of Beneficient (BENF) since July 20, 2025; he previously served as Executive Vice President and Chief Legal Officer and as a Director from January 2020 to May 10, 2024, overseeing operations, underwriting, risk, and legal groups . He is 56 years old, holds a BS in Finance from the University of Virginia and a JD, Summa Cum Laude, from St. John’s University School of Law . The filings reviewed do not disclose individual TSR/revenue/EBITDA performance metrics tied to Mr. Silk’s compensation; his historical equity awards were time-based vesting units under legacy plans .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Beneficient | Interim Chief Executive Officer | 2025–present | Executive transition leadership; separation of Chair/CEO roles to “regain momentum and drive shareholder value” |
| Beneficient | EVP & Chief Legal Officer; Director | 2020–2024 | Oversaw operations, underwriting, risk, and legal; Board service until resignation effective May 10, 2024 |
| Willkie Farr & Gallagher LLP | Partner, Asset Management Group | 13+ years (prior to 2020) | Advised leading asset managers on product development and M&A across alternatives |
| A&O Shearman LLP | Attorney | Not disclosed | Early legal career at international firm |
External Roles
- No external public-company board memberships are identified in the filings reviewed; the Interim CEO agreement permits service on a public-company board with prior Board consent, and notes Mr. Silk affirmed disclosure of all current board memberships .
Fixed Compensation
Summary Compensation (EVP/CLO)
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Salary ($) | 750,000 | 750,000 |
| Bonus ($) | 937,500 | — |
| Stock Awards ($) | 225,000 | 473,308 |
| All Other Compensation ($) | 26,111 | 26,122 |
| Total ($) | 1,938,611 | 1,249,430 |
- From his original employment agreement (effective January 1, 2020), Mr. Silk was entitled to minimum base salary of $750,000 and a minimum bonus of $1,250,000 for calendar years 2020–2022; compensation after 2022 was at Ben’s discretion .
- After resigning in 2024, he agreed to consult for Ben at an annual fee of $50,000, paid in Class A common stock .
Interim CEO Fixed Compensation (effective July 20, 2025)
| Component | As of Jul 20, 2025 |
|---|---|
| Base Salary (annualized) | $750,000 |
| Bonus | Not specified in Interim CEO agreement |
| Equity Eligibility | Eligible under 2023 LTIP and certain predecessor plans |
| Benefits | Medical, dental, vision, life; 401(k) eligibility; 20 paid leave days/year; business expense reimbursement |
| Indemnification & D&O insurance | On terms no less favorable than other senior executives |
Performance Compensation
- No performance-weighted PSU metrics are disclosed for Mr. Silk; historical awards are time-based vesting units under legacy plans .
| Incentive type | Grant date | Quantity | Vesting | Performance metric | Fair value (if disclosed) |
|---|---|---|---|---|---|
| Restricted Equity Units (2018 Equity Incentive Plan) | Jan 1, 2020 | 704 units | 20% on grant; 20% on each of first three anniversaries of Jan 1, 2020, subject to continued employment | Time-based (no metric disclosed) | Not disclosed |
| One-time Class A Units (BMP Equity Incentive Plan) | Jan 1, 2020 | 56,250 units | 20% on Jan 1, 2020; 20% on each anniversary of Jan 1, 2020, subject to continued employment | Time-based (no metric disclosed) | Not disclosed |
| One-time Class B Units (BMP Equity Incentive Plan) | Jan 1, 2020 | 56,250 units | 20% on Jan 1, 2020; 20% on each anniversary of Jan 1, 2020, subject to continued employment | Time-based (no metric disclosed) | Not disclosed |
| RSU grant value (EVP/CLO) | FY 2023 | — | — | — | $225,000 aggregate grant-date fair value |
| RSU grant value (EVP/CLO) | FY 2024 | — | — | — | $473,308 aggregate grant-date fair value |
No option awards for Mr. Silk appear in the FY2023–FY2024 Summary Compensation Table .
Equity Ownership & Alignment
| Ownership component | Amount | Notes |
|---|---|---|
| Class A common stock (direct) | 366 shares | Beneficially owned |
| Vested RSUs (settlement into Class A) | 1,719 shares issuable upon settlement | Vested units pending settlement |
| Pledging/Hedging | Not disclosed | No explicit disclosures found in reviewed filings |
| Stock ownership guidelines | Not disclosed | No explicit disclosures found for individual guideline compliance |
Employment Terms
| Term | EVP/CLO Employment Agreement (effective Jan 1, 2020) | Interim CEO Agreement (effective Jul 20, 2025) |
|---|---|---|
| Employment status | Standard executive employment with defined severance | At-will employment |
| Severance (without cause / good reason) | If termination on/before Jan 1, 2022 anniversary: $2,000,000 paid monthly over 12 months | Not specified in Interim CEO letter; agreement is at-will |
| Severance (between 2nd–3rd anniversary) | $750,000 + $1,250,000 prorated; paid monthly over 12 months | — |
| COBRA | Up to 12 months reimbursements if termination on/before third anniversary, as permitted | — |
| Severance (after third anniversary) | Annualized base salary for 12 months | — |
| Minimum Bonus catch-up | If unpaid Minimum Bonus for preceding year, pay at time bonuses generally paid | — |
| Equity treatment | Awards governed by plan terms; time-based vesting schedules | Eligible under 2023 LTIP and prior plans |
| Confidentiality / IP | Confidentiality and IP assignment provisions | Confidentiality; IP assignment; permitted whistleblower disclosures |
| Non-solicitation | Customer and employee non-solicit during service | Customer/investor/employee non-solicit during service |
| Non-compete | Not disclosed | Not disclosed |
| Non-disparagement | Mutual non-disparagement provisions | Mutual non-disparagement |
| Indemnification / D&O | Standard indemnification | Indemnification and D&O coverage no less favorable than peers |
| Dispute resolution | Not disclosed | Arbitration under AAA Employment Rules; Dallas County venue |
Performance & Track Record
- Executive transition: Appointed Interim CEO on July 20, 2025 after the separation of former CEO/Chairman; Board elevated Thomas O. Hicks to Chairman concurrently .
- Prior leadership scope: Oversaw operations, underwriting, risk, and legal; extensive alternatives-industry advisory experience with Goldman Sachs, Deutsche Bank, Credit Suisse, KKR, Brookfield, Bank of America, Merrill Lynch, and Morgan Stanley while at Willkie .
Compensation Structure Analysis
- Shift to time-vested equity: 2018 and BMP plan awards (704 REUs; 56,250 Class A; 56,250 Class B) vest solely on service anniversaries, indicating lower performance-contingent risk in historical equity awards .
- Guaranteed bonus history: Minimum $1.25M annual bonus was contractually guaranteed in 2020–2022; discretionary thereafter, and no FY2024 bonus was paid .
- Interim CEO terms: Current letter specifies base salary and equity eligibility but no explicit annual bonus target or severance, aligning pay more with at-will service during transition .
Say-on-Pay & Peer Benchmarking
- Not disclosed for Mr. Silk specifically in the filings reviewed; broader compensation policy and related-party arrangements are addressed elsewhere in the proxy but are not specific to Silk’s current interim role .
Equity Ownership & Alignment Risks
- Small disclosed beneficial stake and vested-but-unsettled RSUs suggest limited near-term alignment via ownership; pledging/hedging policies for Mr. Silk were not located in the reviewed filings .
Employment & Contract Provisions Implications
- At-will Interim CEO structure with confidentiality, non-solicit, indemnification, and arbitration indicates flexibility for Board during transition without locked-in severance; prior EVP/CLO agreement contained robust severance protections tied to tenure anniversaries .
Investment Implications
- Alignment: Historical time-vested equity and relatively small disclosed ownership may limit direct pay-for-performance alignment; current interim agreement lacks an explicit performance bonus framework .
- Retention risk: Interim, at-will status without specified severance and bonus could indicate higher retention risk compared to prior EVP/CLO terms that contained substantial severance; however, indemnification and D&O coverage support role stability during transition .
- Trading signals: Absence of disclosed option grants and limited equity ownership reduces the probability of outsized insider selling pressure; Form 4 activity for Mr. Silk was not available in the reviewed filings and should be monitored for vesting-related sales once any interim CEO equity grants are issued .
- Execution: Prior operational oversight and deep alternatives-industry advisory background may aid stabilization; leadership transition messaging targets shareholder value recovery, but no specific operating or financial targets tied to Mr. Silk’s compensation are disclosed .