Alvin Yip
About Alvin Yip
Alvin Yip, age 59, serves as Interim Chief Financial Officer of Banzai International (BNZI) since June 14, 2024, after joining the company as Corporate Controller in December 2022; he is a certified public accountant with over 25 years of accounting experience, including senior finance roles at technology and consulting firms . Under his financial leadership, FY 2024 pro forma revenue reached $16.7M versus $4.6M in 2023, gross margin expanded to 81% from 68%, and ARR was $6.8M (+46% year over year), indicating stronger commercial scale while maintaining high gross profitability . He signed SOX Section 302 certifications for BNZI’s Q3 2024 10‑Q and FY 2024 10‑K, evidencing executive responsibility for disclosure controls and internal control over financial reporting .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Banzai International (Legacy Banzai) | Corporate Controller | 2022–2024 | Prepared systems and controls ahead of promotion to Interim CFO; principal accounting officer responsibilities . |
| Pax Labs Inc | Director of Accounting | 2021–2022 | Led accounting for a consumer technology company, strengthening operational finance discipline . |
| RGP | Chief Financial Consultant | 2018–2021 | Delivered CFO-level consulting on controls and reporting for varied clients . |
| 24/7.ai | Corporate Controller | 2010–2018 | Drove finance operations and scaling in AI-enabled customer engagement software . |
External Roles
None disclosed for public company boards or committee roles .
Fixed Compensation
| Metric | 2023 | 2024 | 2025 (Approved) |
|---|---|---|---|
| Base Salary ($) | $71,250 | $220,833 | $241,500 effective Jan 1, 2025 |
| Target Bonus (%) | Not disclosed; NEOs eligible for annual performance-based bonuses | Not disclosed; NEOs eligible for annual performance-based bonuses | Not disclosed |
| Actual Bonus Paid ($) | $0 | $0 | Not disclosed |
Notes:
- Company contributions to 401(k) are included in “All Other Compensation” footnotes in filings .
Performance Compensation
| Incentive Type | Year | Grant Date | Shares/Units | Fair Value ($) | Strike Price ($) | Vesting | Expiration |
|---|---|---|---|---|---|---|---|
| RSU (Compensation Bonus) | 2024 | December 2024 | 32,895 | $50,000 | N/A | Not specified | N/A |
| Stock awards (unvested) | 2024 | As of 12/31/2024 | 600 | $8,790 | N/A | Not specified | 5/14/2034 entry in table context |
| Options | 2023 | 12/03/2023 | 77 exercisable / 169 unexercisable | — | $419.00 | 25% at 1-year, then 1/48th monthly over 36 months | 12/02/2033 |
| Options | 2024 | 05/14/2024 | 27 exercisable / 159 unexercisable | — | $14.65 | 25% at 1-year, then 1/48th monthly over 36 months | 05/14/2034 |
Additional compensation context:
- No annual performance-based cash bonuses were paid to NEOs for 2023 or 2024 .
- Company option awards to certain executives were repriced in December 2023 (Musburger, Baumer, Levesque), indicating governance sensitivity to underwater equity; Yip’s 2023 option award fair value was disclosed but repricing notes list other executives, not Yip .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial ownership (as of Oct 22, 2024) | Options to purchase 77 shares of Class A common stock exercisable within 60 days; <1% of voting power . |
| Shares Outstanding (context) | 2,379,309 Class A and 2,311,134 Class B outstanding; Class B has 10 votes per share . |
| Outstanding options (12/31/2024) | 76 exercisable / 180 unexercisable at $419.00, expiring 12/02/2033; 27 exercisable / 159 unexercisable at $14.65, expiring 05/14/2034 . |
| RSUs (12/31/2024) | 600 unvested units ($8,790 market value) and 32,895 unearned units ($48,356 payout value) as categorized in stock awards table . |
| Vesting policy (options) | 25% cliff at one year, then 1/48th monthly for remaining 36 months, subject to continued service . |
| Pledging/Hedging | No pledging footnote indicated for Yip in the beneficial ownership table . |
| Ownership guidelines | Not disclosed . |
Employment Terms
- Appointment: Interim CFO effective June 14, 2024; previously Corporate Controller since December 2022 .
- 2025 Compensation Update: Board approved increasing his annual base salary to $241,500 effective January 1, 2025 .
- Severance and Change-in-Control: Company transaction disclosures for late-2024 acquisitions state the deals did not trigger severance pay or golden parachute obligations for employees under benefit plans, indicating no automatic severance acceleration from those transactions; Yip-specific severance terms are not disclosed .
- Clawback/Non-compete/Ownership guidelines: Not disclosed for Yip .
- SOX Certifications: Yip signed SOX 302 certifications for Q3 2024 and FY 2024, affirming responsibilities for controls and disclosures as principal financial and accounting officer .
- CFO Transition: BNZI offered the CFO role to Dean Ditto in July 2025 (at‑will employment, $275,000 base, $100,000 annual incentive target, and $100,000 RSUs), signaling an impending transition from the interim CFO role; Yip’s post-transition role not disclosed .
Performance & Track Record
| Metric | 2023 | 2024 |
|---|---|---|
| Pro forma revenue ($USD) | $4.6M | $16.7M |
| Gross margin (%) | 68% | 81% |
| ARR ($USD) | — | $6.8M (+46% YoY) |
Narrative:
- Yip presented FY 2024 financials demonstrating scale-up in pro forma revenue, sustained high gross margin, and ARR growth, alongside cost reductions improving adjusted EBITDA sequentially; he also reported cash and equivalents at $1.1M at year-end 2024 .
Investment Implications
- Pay-for-performance alignment: Equity-heavy incentives in FY 2024 via RSUs ($50,000) and options with standard time-based vesting align Yip's economics with long-term shareholder value; absence of cash bonus payouts for 2023–2024 reduces near-term cash comp risk and ties rewards to equity outcomes .
- Insider selling pressure: Option awards vest monthly following a one-year cliff and RSUs include unvested and unearned units; while the beneficial ownership is de minimis (<1%), upcoming vesting could create modest supply, though size is small compared to overall float .
- Retention and transition: Board-approved base salary increase effective 1/1/2025 supports retention for the interim period; the July 2025 CFO offer to a new hire indicates near-term leadership transition risk and potential redefinition of Yip’s role, warranting monitoring for continuity of controls and execution .
- Governance signals: Company-level option repricings in 2023 (not specifically for Yip) highlight compensation flexibility in distressed equity scenarios; no severance or golden parachute acceleration triggered by late‑2024 acquisitions reduces event‑driven payout risk .