Zakariya Ibrahim
About Zakariya Ibrahim
Zakariya Ibrahim (age 49) serves as Executive Vice President and Chief Financial Officer of Broadway Financial Corporation (BYFC) since May 2024; previously Executive Director, Head of Corporate Finance at Texas Capital Bancshares (Apr 2022–May 2024) and SVP, Director of Finance at TIAA Bank (May 2019–Apr 2022) . Company performance context: net income declined from $5.636M in 2022 to $4.514M in 2023 and $1.926M in 2024, while the value of an initial $100 investment based on TSR measured $44 (2022), $37 (2023), and $37 (2024) . His 2024 compensation, reflecting partial-year tenure, comprised $248,504 base salary, $174,997 restricted stock, $0 non-equity incentive, and $28,092 other compensation (total $451,593) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Texas Capital Bancshares Inc. | Executive Director, Head of Corporate Finance | Apr 2022–May 2024 | Not disclosed |
| TIAA Bank | SVP, Director of Finance | May 2019–Apr 2022 | Not disclosed |
External Roles
No additional public company board roles or external directorships are disclosed in the company’s proxy biographies for executive officers .
Fixed Compensation
| Metric | 2024 |
|---|---|
| Base Salary ($) | $248,504 |
| Target Bonus % (senior execs) | 25% target; 20% min, 31% max of base salary |
| Actual Bonus Paid ($) | $0 |
| All Other Compensation ($) | $28,092 |
| Total Compensation ($) | $451,593 |
Performance Compensation
Annual Incentive Plan structure and payout
| Metric/Term | 2024 |
|---|---|
| Minimum financial threshold | 80% of Board-approved consolidated net earnings must be achieved |
| Performance metrics | Net Earnings; Capital; Compliance; Net Loan Growth; Asset Quality; Core Deposit Growth |
| Senior executive cash incentive opportunity | 20% min; 25% target; 31% max of base salary |
| Committee assessment of 2024 objectives | Achieved at least in part |
| Ibrahim 2024 non-equity incentive payout ($) | $0 |
Equity awards granted and vesting
| Item | 2024 |
|---|---|
| Restricted Stock Award (shares) | 31,645 shares |
| Grant date fair value ($) | $174,997 |
| Vesting schedule | Equal annual installments on April 8, 2025; April 8, 2026; April 8, 2027 |
| Unvested shares at 12/31/2024 (#) | 31,645 |
| Market value of unvested shares at 12/31/2024 ($) | $216,768 |
| Stock options | None granted in 2024 and 2023 |
Equity Ownership & Alignment
| Ownership Detail | As of Mar 31, 2025 |
|---|---|
| Beneficial ownership (Voting Class A shares) | 39,746 |
| Percent of Voting Common Stock | <1% |
| Options (exercisable/unexercisable) | None |
| Unvested restricted shares (#) | 31,645 |
| Market value of unvested restricted shares ($) | $216,768 |
- Anti-hedging: Employees, officers, and directors are prohibited from hedging company securities (e.g., prepaid variable forwards, short sales, options, swaps, collars) .
- Clawback: Adopted October 2023 to comply with Nasdaq Listing Standard 5608; company will seek recovery of excess incentive-based compensation over the prior three fiscal years in the event of a required accounting restatement .
- Insider trading policy governs transaction timing and compliance; transactions under equity arrangements follow plan terms .
Employment Terms
| Term | Disclosure |
|---|---|
| Employment agreement | Company is not party to an employment agreement with Mr. Ibrahim |
| Role start date | Executive Vice President and CFO since May 2024 |
| Signatory authority | Signs SEC filings on behalf of BYFC as EVP & CFO (e.g., 8-K dated Jan 15, 2025; Jun 12, 2025) |
Performance & Pay vs. Performance Context (Company-level)
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Net Income ($) | $5,636,000 | $4,514,000 | $1,926,000 |
| Value of $100 investment based on TSR ($) | $44 | $37 | $37 |
| Avg. SCT Total for non-PEO NEOs ($) | $427,550 | $438,362 | $412,774 |
| Avg. Compensation Actually Paid to non-PEO NEOs ($) | $408,075 | $418,349 | $530,893 |
Investment Implications
- Alignment and retention: Significant time-based restricted stock (31,645 shares) vesting annually through 2027 supports retention and alignment; absence of an employment agreement increases at-will flexibility, but anti-hedging and clawback policies enhance governance .
- Near-term selling pressure: Annual vesting dates (April 8 in 2025–2027) could create periodic liquidity windows; insider trading policy and blackout periods will constrain timing .
- Pay-for-performance sensitivity: The incentive plan ties payouts to net earnings and operational metrics; with 2024 net income down and TSR flat vs. 2023, cash incentive paid to Ibrahim was $0, indicating direct linkage to results during his onboarding year .
- Risk backdrop: As CFO, Ibrahim is signatory to material filings and disclosures; investors should monitor operational updates and filings amid a weaker earnings trend and governance initiatives (e.g., clawback adoption) .