Randy Befumo
About Randy Befumo
Randy Befumo is Interim Chief Financial Officer of Bolt Projects Holdings, Inc. (BSLK) and serves as the company’s principal financial officer and principal accounting officer, signing SOX 302 and 906 certifications for the FY 2024 10-K and Q1–Q3 2025 10-Qs . He is 54 years old and holds a B.A. in Interdisciplinary Study from the College of William & Mary . He has served as Interim CFO of Bolt Threads since April 2023 and as Interim CFO of BSLK since the closing of the business combination; previously, he was Bolt Threads’ CFO from April 2020 to April 2023 . Performance metrics such as TSR, revenue growth, and EBITDA growth tied to his compensation were not disclosed specific to Mr. Befumo in the company’s proxy filings .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Bolt Threads | Chief Financial Officer | Apr 2020–Apr 2023 | Led finance during pre‑combination period; prepared company for public‑company readiness |
| Eventbrite | Chief Financial Officer; then Chief Strategy Officer | CFO: Nov 2016–Sep 2019; CSO: Sep 2019–Dec 2019 | Finance leadership then enterprise strategy at a global ticketing platform |
| Legg Mason Capital Management | Director of Research, Analyst, Portfolio Manager | 15 years | Long‑tenured public markets investing and research experience |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Protecht, Inc. | Interim CFO | May 2023–present | Finance leadership for online checkout software company |
| Various private software and pharmaceutical companies | Advisor | Current | Advisory roles providing finance/strategy expertise |
Fixed Compensation
- The 2025 proxy’s “2024 Summary Compensation Table” identifies NEOs as CEO (Widmaier), CTO (Breslauer), and President (Nardi); Mr. Befumo is not listed as a 2024 NEO, and his base salary, target bonus, and actual bonus for 2024 were not disclosed in that table .
- No perquisites or tax gross‑ups were provided to NEOs in 2024; the proxy states the company does not make tax gross‑up payments to executives generally .
Performance Compensation
Long-Term Equity Awards (recent activity)
| Grant Date | Award Type | Shares/Units | Vesting | Notes |
|---|---|---|---|---|
| Nov 12, 2025 | RSUs | 17,672 | Fully vested at grant | Reported on Form 4; following the award, reporting person beneficially owns 72,976 shares directly |
- Company practices and policies: anti‑hedging policy prohibits hedging transactions (e.g., collars, swaps); clawback policy adopted effective Aug 13, 2024 for recovery of erroneously awarded incentive‑based compensation upon restatements; equity grant practices avoid timing around MNPI and use annual awards in the first quarter when feasible .
Annual/Short-Term Incentives
- Performance metric weightings, targets, and payouts specific to Mr. Befumo were not disclosed in the proxy .
Equity Ownership & Alignment
| Ownership Metric | Value |
|---|---|
| Direct beneficial ownership after 11/12/2025 award | 72,976 shares |
| Shares outstanding reference point | 3,940,170 (as of Oct 10, 2025) |
| Approx. ownership % of outstanding | ~1.9% (72,976 ÷ 3,940,170) |
| Hedging / Pledging | Hedging prohibited by policy; pledging not disclosed |
| Stock ownership guidelines | Not disclosed in proxy for executives |
- Additional insider activity: Mr. Befumo filed multiple Form 4s in 2024–2025, including 2024‑11‑27 and 2025‑09‑03, evidencing active equity transactions and grants; details are on EDGAR .
Employment Terms
| Term | Detail |
|---|---|
| Current title | Interim Chief Financial Officer; principal financial officer and principal accounting officer (signed 10‑K FY2024, 10‑Q Q1–Q3 2025 certifications and report signatures) |
| Start of interim CFO role | At Bolt Threads since Apr 2023; at BSLK since the business combination closing |
| Employment agreement | Not disclosed for Mr. Befumo in 2024 proxy |
| Severance / Change-in-control | Company’s Severance Policy (covering selected employees, not specifically Mr. Befumo) expired Jun 9, 2024; provided salary continuation (6 months; 12 months for CEO), healthcare continuation, and accelerated vesting (100% or 50%) upon qualifying termination within 12 months of a change in control (double-trigger), subject to release and best‑pay‑cap for excise tax optimization |
| Clawback policy | Adopted per SEC/Nasdaq rules effective Aug 13, 2024 |
| Anti‑hedging | Prohibits hedging transactions |
| Tax gross‑ups | Company states it does not provide tax gross‑ups to executives |
| Non‑compete / Non‑solicit | Not disclosed in proxy for Mr. Befumo |
Investment Implications
- Alignment: Befumo’s direct beneficial stake (~1.9% by Oct 2025 share count reference) improves alignment vs. a typical interim CFO; fully vested RSU grant on 11/12/2025 increases near‑term liquidity and could translate to potential selling pressure absent ownership guidelines or holding requirements .
- Governance and risk controls: Anti‑hedging and Dodd‑Frank‑compliant clawback policies mitigate hedging and restatement risk related incentives .
- Retention: Lack of a disclosed individual employment/severance agreement for Befumo and expiration of the severance policy in 2024 point to limited formal retention economics, potentially elevating transition risk for the finance function in a volatile capital environment .
- Execution profile: Befumo’s pedigree across Eventbrite (CFO/CSO), Bolt Threads (CFO), Protecht (Interim CFO), and 15 years at Legg Mason suggests strong capital markets and operating finance acumen—valuable for BSLK’s ongoing restructuring and capital needs; however, no disclosed performance‑linked incentives specific to him limit visibility into pay‑for‑performance alignment .