Marci Slagle
About Marci Slagle
Marci L. Slagle (age 55 as of December 31, 2024) serves as President of BankFinancial’s Equipment Finance Division, a role she has held since February 2020; she manages the corporate, governmental and middle market equipment finance and leasing departments and is a Certified Lease & Finance Professional (CLFP) with 25+ years of industry experience . Company-level performance during her tenure shows Total Shareholder Return (TSR) rising from 126 (value of $100 at 12/31/2020) in 2021 to 170 in 2024, while net income moved from $7,410k (2021) to $4,073k (2024) and EPS from $0.53 to $0.33 over the same period .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| BankFinancial, NA | President, Equipment Finance Division | Feb 2020–present | Leads corporate, governmental and middle market equipment finance and leasing; responsible for divisional business plan execution |
External Roles
| Organization | Role | Years | Notes / Strategic impact |
|---|---|---|---|
| CLFP Foundation | President; Executive Committee Member | Not disclosed | Industry credential leadership; enhances network, talent pipeline and standards in equipment finance |
| Equipment Leasing and Finance Association (ELFA) | Member; formerly Steering Committee – Middle Market Leasing | Not disclosed | Ongoing industry engagement and policy/market insights |
| National Equipment Finance Association (NEFA) | Member | Not disclosed | Industry connectivity and best-practice sharing |
Fixed Compensation
Multi-year compensation actually paid (SCT components for Slagle as a Named Executive Officer in 2021–2022).
| Metric (USD) | 2021 | 2022 |
|---|---|---|
| Salary | $253,105 | $257,966 |
| Non-Equity Incentive Plan Compensation | $75,000 | $130,222 |
| All Other Compensation | $22,836 | $24,101 |
| Total Compensation | $350,941 | $412,289 |
2022 “All Other Compensation” detail:
| Component | 2022 Amount (USD) |
|---|---|
| Perquisites (auto/allowance) | $8,400 |
| Insurance premiums reimbursed | $2,262 |
| Tax reimbursements on insurance | $988 |
| 401(k) match | $3,723 |
| Other (PTO payout policy transition) | $8,728 |
| Total “All Other Compensation” | $24,101 |
Base salary set for 2023:
| Year | Base Salary (USD) |
|---|---|
| 2023 | $267,115 |
Notes:
- Company currently has no securities authorized for issuance under equity compensation plans (no RSUs/options programs for executives) .
- Prohibited transactions policy restricts pledging/margin and hedging of company stock without prior committee approval .
Performance Compensation
Plan structure and recent payouts:
| Item | Details |
|---|---|
| Plan eligibility | Equipment Finance President Incentive Compensation Plan |
| Metric framework | Aligned to Division Business Plan objectives (strategic, financial, management factors); divisional plans approved annually by the Bank’s Human Resources Committee |
| Weighting / targets | Not disclosed |
| Maximum | “Maximum payout is not limited if certain business plan objectives were achieved during 2022” |
| Payout form | Cash; no equity grants outstanding for NEOs in the period |
| 2021 actual (cash incentive) | $75,000 |
| 2022 actual (cash incentive) | $130,222 |
Equity Ownership & Alignment
| Data point | Status |
|---|---|
| Beneficial ownership | As of March 31, 2023, Slagle showed “—” in the named table (no shares disclosed) |
| Ownership as % of outstanding | Not disclosed (entry shown as “—”) |
| Vested vs unvested shares | Not applicable; no equity plan/awards outstanding |
| Options (exercisable/unexercisable) | None disclosed; no equity plan |
| Shares pledged as collateral | Prohibited by Insider Trading Policy (also prohibits margin) |
| Hedging | Prohibited without prior committee consent |
| Executive stock ownership guidelines | Not disclosed |
Implication: minimal insider-selling pressure from vesting given no equity awards outstanding .
Employment Terms
Key provisions from Slagle’s Employment Agreement (effective Feb 17, 2023):
| Clause | Terms |
|---|---|
| Effective date / term | Effective Feb 17, 2023; term ends Feb 17, 2025; auto-extends each anniversary to maintain a 24-month term absent certain termination events |
| Position | President, Equipment Finance Division |
| Severance – Without Cause / Good Reason | Lump sum equal to 2x “average annual compensation” plus continued coverage under certain insurance plans for 24 months; requires a release |
| Double-trigger on Change in Control | Good Reason includes material diminution in duties following a change in control; payment requires “Double Trigger” |
| Good Reason definition (highlights) | Relocation >15 miles; reduction in base salary/material reduction in benefits; material uncured breach; material diminution in duties post-Change in Control |
| Non-solicitation | Required as a condition to severance; non-solicit restrictions apply |
| Non-compete | Not disclosed in Slagle’s agreement (non-compete expansions disclosed for certain other executives tied to merger amendments; not referenced for Slagle) |
| Disability/Death | Agreement provides disability and death benefits in line with executive program; defines Short-/Long-Term Disability determinations and related procedures |
General company-wide construct (context): employment agreements require a Double Trigger for change-in-control payments; continuation of health coverage tied to involuntary terminations (death, disability, without cause, or Good Reason) per policy framework .
Performance & Track Record (Company-level context)
| Metric | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Net Income (USD thousands) | $7,410 | $10,494 | $9,393 | $4,073 |
| EPS (USD) | $0.53 | $0.80 | $0.74 | $0.33 |
| TSR – value of $100 (12/31/2020 base) | 126 | 130 | 132 | 170 |
Note: The Human Resources Committee states no equity compensation was granted to/ outstanding for PEO and NEOs in the period used in Pay-vs-Performance disclosures .
Investment Implications
- Pay mix and alignment: Compensation is predominantly cash (salary plus divisional cash incentives); the company has no equity compensation plan and reported no equity awards for NEOs in the covered periods, limiting direct pay-for-TSR alignment but also eliminating dilution and vesting-driven sell pressure .
- Incentive quality: Divisional cash incentives are tied to business plan objectives and approved by the Bank’s HR Committee; however, metric weights and hurdle rigor are not disclosed, which reduces visibility into pay-for-performance calibration at the divisional level .
- Retention/CoC protection: Slagle’s agreement is evergreen (24-month term) with a Double Trigger and a 2x average annual compensation cash severance plus 24 months of benefits, a competitive construct that supports retention through strategic transitions without single-trigger windfalls .
- Governance risk mitigants: Pledging/margining company stock is prohibited and hedging requires prior approval; these policies align insider and shareholder interests and reduce governance risk from hedging/pledging practices .
- Ownership signal: Slagle showed no disclosed common stock ownership as of March 31, 2023, which, combined with an all-cash incentive design, offers limited equity “skin in the game,” though divisional P&L accountability still ties cash outcomes to execution .