Jeffrey Rubin
About Jeffrey Rubin
Jeffrey Rubin (57) has served on the BRT Board since 2004 and has been the Independent Lead Director since 2023. He is President and CEO of The JR Group (since 2009), CEO of Excel Payments (since 2023), CEO of Summit Processing Group LLC (since 2008), and Partner at Finance ERC LLC (since 2023). Previously, he was President and CEO of Premier Payments (2012–2015) and President and director of Newtek Business Services, Inc. (1999–2008). His background in public company leadership and financial services underpins his role as Compensation Committee Chair and Lead Independent Director .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Newtek Business Services, Inc. | President and Director | 1999–2008 | Public company leadership experience cited for governance capability |
| Premier Payments | President & CEO | 2012–2015 | Led to company sale; payments industry operating experience |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| The JR Group | President & CEO | Since 2009 | Consulting services to electronic payment processing industry |
| Excel Payments | CEO | Since 2023 | Credit card processing services to merchants |
| Summit Processing Group LLC | CEO | Since 2008 | Financial products to businesses |
| Finance ERC LLC | Partner | Since 2023 | Financial products to businesses |
Board Governance
- Independence: The Board determined Rubin is independent under NYSE and SEC rules; all members of the audit, compensation, and nominating committees are independent .
- Role: Independent Lead Director since 2023; presides over executive sessions of independent directors, sets topics, participates in all committees, and serves as point of contact for stockholders .
- Committee assignments (2024): Compensation Committee Chair; not a member of Audit or Nominating. Committee meetings held: Audit (4), Compensation (5), Nominating (3) .
- Attendance: In 2024, the Board held 4 meetings; each director attended at least 75% of board and committee meetings; 73% of directors attended the 2024 annual meeting .
Fixed Compensation
| Component (2024) | Amount | Notes |
|---|---|---|
| Board annual cash retainer | $23,000 | Standard for non‑management directors |
| Compensation Committee Chair annual retainer | $14,500 | Committee chair receives both committee retainer and chair retainer |
| Independent Lead Director annual retainer | $10,000 | Additional retainer for lead independent duties |
| Per‑meeting fee (in‑person) | $1,450 | Applies to Board and committees as shown |
| Per‑meeting fee (telephone) | $875 | Applies to Board and committees as shown |
| Fees Earned or Paid in Cash (Rubin) | $56,400 | Total cash compensation received in 2024 |
Performance Compensation
| Equity Component | Grant/Balance | Vesting / Value | Notes |
|---|---|---|---|
| Restricted stock grant (2024) | 4,100 shares | 5‑year vesting; entitled to votes and distributions; accelerated on specified events | |
| Restricted stock grant (2025) | 4,250 shares | 5‑year vesting; same terms as above | |
| Unvested stock awards (as of 12/31/2024) | 20,500 shares | Market value $369,615 at $18.03/sh (NYSE close 12/31/2024) | |
| Scheduled vesting | 2025: 4,200 | Annual tranches for directors (non‑management): 2025–2029 | |
| Scheduled vesting | 2026: 4,000 | ||
| Scheduled vesting | 2027: 4,100 | ||
| Scheduled vesting | 2028: 4,100 | ||
| Scheduled vesting | 2029: 4,100 |
Director equity is restricted stock (no options/PSUs for non‑management directors); RSUs with performance conditions apply to executives and the Chairman, not to Rubin .
Other Directorships & Interlocks
| Company | Current/Prior | Role | Potential Interlock |
|---|---|---|---|
| Newtek Business Services, Inc. | Prior (1999–2008) | President and Director | No current interlock disclosed with BRT or affiliates |
- No disclosed current public company directorships beyond BRT; biography lists private companies in payments/financial services .
- Board independence affirmed; no Rubin‑specific related party transactions disclosed in “Certain Relationships and Related Transactions” sections reviewed; audit committee approves related party transactions generally .
Expertise & Qualifications
- Public company leadership and governance experience (Newtek Business Services, Inc.) .
- Extensive financial services and payments sector operating experience (JR Group, Excel Payments, Summit Processing Group, Finance ERC LLC) .
- Serves as Compensation Committee Chair and Lead Independent Director, indicating trust in oversight of pay and governance processes .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Class | Notes |
|---|---|---|---|
| Jeffrey Rubin | 73,410 | <1% | As of March 18, 2025; 18,929,682 shares outstanding |
| Shares pledged | 34,410 | n/a | Pledged as collateral for a line of credit; no amounts outstanding |
Governance Assessment
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Strengths:
- Independent Lead Director role established in 2023 responsive to shareholder governance feedback; presides over executive sessions and strengthens board independence .
- Compensation Committee fully independent; Rubin as Chair with clear remit over director fees and executive pay grants; committee met five times in 2024 .
- Documented stock ownership guidelines; company reports non‑management directors meet guidelines .
- Attendance thresholds met (≥75% for all directors); structured committee cadence .
-
Alignment and Incentives:
- Balanced director pay structure: modest cash retainers/meeting fees plus multi‑year restricted stock; Rubin received $56,400 cash and $76,055 equity in 2024 (total $132,455), supporting long‑term alignment through vesting .
- Unvested restricted stock (20,500 shares; $369,615 value) with scheduled vesting through 2029 aligns ongoing service and retention .
-
RED FLAGS / Risk Indicators:
- Pledging: Rubin has 34,410 shares pledged as collateral for a line of credit, albeit with no outstanding balance—pledging can weaken alignment and raise counterparty risk if borrowing increases .
- No Rubin‑specific related party transactions disclosed; continue monitoring given audit committee’s role in approving such transactions and the presence of significant affiliate relationships elsewhere on the board .
-
Overall view:
- Rubin’s profile supports board effectiveness in pay oversight and independent leadership. The pledging disclosure is a notable governance risk to watch; otherwise, compensation mix and committee independence are consistent with REIT governance norms .