Stephen Snyder
About Stephen Snyder
Stephen A. Snyder, age 48, is Co-Chief Executive Officer of CareCloud effective January 1, 2025; he rejoined the company as President in May 2024 after previously serving in roles including General Counsel (first joining in August 2005), COO, Chief Strategy Officer, President, and CEO through June 2022. He holds a BA, magna cum laude, from Montclair State University and a J.D. from Rutgers University, and is licensed to practice law in New Jersey and New York; his experience spans healthcare IT, acquisitions, and healthcare law . Under current leadership, CareCloud raised 2025 revenue guidance to $117–$119m and delivered six consecutive quarters of positive GAAP net income; Q3 2025 revenue grew 9% YoY and adjusted EBITDA grew 13% YoY, reflecting operational discipline and acquisitive growth, with Snyder providing management commentary on strategy execution . Company TSR over 2022–2024, per the proxy’s pay-versus-performance disclosure, shows a fixed $100 investment valued at $44 (2022), $24 (2023), and $58 (2024), alongside net income of $5.4m (2022), $(48.7)m (2023), and $7.9m (2024) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| CareCloud, Inc. | General Counsel | 2005 onward (first joined Aug 2005) | Foundational legal and compliance leadership |
| CareCloud, Inc. | COO; Chief Strategy Officer; President; CEO | Through June 2022 | Led operations and strategy; executive leadership through prior CEO tenure |
| CareCloud, Inc. | Consultant | Jun 2022 – Apr 2024 | Advisory support; consulting arrangement disclosed (Series B preferred RSUs) |
| CareCloud, Inc. | President | May 2024 – Dec 2024 | Returned to executive leadership; set up 2025 leadership realignment |
| CareCloud, Inc. | Co-Chief Executive Officer | Jan 1, 2025 – Present | Co-led AI, acquisitions and growth strategy; raised guidance; sustained profitability |
Fixed Compensation
| Year | Base Salary ($) | Bonus ($) | Stock Awards ($) | All Other Compensation ($) | Total ($) |
|---|---|---|---|---|---|
| 2024 | 188,077 | 219,600 | – | 8,942 | 416,619 |
Notes:
- The 2024 “Bonus” reflects equity-based bonuses tied to specified operating results that vested in December 2024, valued at fair value on vesting .
Performance Compensation
| Plan/Grant | Metric | Weighting | Target | Actual | Payout ($) | Vesting |
|---|---|---|---|---|---|---|
| 2024 Executive Bonus (Equity) | Specified operating results (not formally disclosed) | Not disclosed | Not disclosed | Achieved (per Committee award and vesting) | 219,600 | Vested Dec 2024 |
Additional program features:
- Company historically grants RSUs with vesting contingent on annual performance goals; grants typically occur early each year and vest upon year-end performance determination .
- No outstanding equity awards for named officers at FY-end 2024 (reducing near-term vest-driven selling pressure) .
Equity Ownership & Alignment
| As-of Date | Security | Shares Beneficially Owned | Percent of Class | Vested vs Unvested | Options (Exercisable/Unexercisable) | Hedging/Pledging Policy |
|---|---|---|---|---|---|---|
| Mar 31, 2025 | Common Stock | 229,495 | 0.5% | No outstanding executive equity awards at FY-end 2024 | Company has not historically granted options to executives; none granted in 2024 | Hedging, short sales, and pledging prohibited; limited pledge exceptions require prior approval and independent repayment capacity |
| Mar 31, 2025 | Series B Preferred | 30,790 | 2.0% | N/A | N/A | See policy above |
Historical reference:
- As of Dec 3, 2024: Snyder held 229,495 Common (1.4%) and 22,990 Series B Preferred (1.6%) .
Employment Terms
| Term | Provision |
|---|---|
| Role | Co-CEO effective Jan 1, 2025 |
| Agreement Term | Initial term Jan 1, 2025 – Dec 31, 2026; auto-renews for 1-year periods unless 90-day non-renewal notice |
| Base Salary | $300,000 per year |
| Target Bonus | 100% of base salary; Committee discretion and objectives per bonus plan |
| Severance (without cause or material demotion) | Salary continuation for remainder of contractual term, but not less than 24 months; COBRA premiums during severance if eligible |
| Non-renewal | Severance equal to most recent annual salary for 24 months (treated as termination without cause) |
| Change of Control | Salary continuation for remainder of term, but not less than 24 months, equal to most recent annual salary plus target bonus; COBRA premiums during period |
| Non-Compete & Non-Solicit | 1-year non-compete and non-solicit post-termination; injunctive relief available |
| Other | Permitted external activities (boards, speaking, teaching) if they don’t materially interfere with duties; outside business Hill City Advisors referenced with conflict restrictions |
Company Performance Context
| Metric | Q3 2024 | Q3 2025 | 9M 2024 | 9M 2025 |
|---|---|---|---|---|
| Revenue ($m) | 28.5 | 31.1 | 82.6 | 86.1 |
| GAAP Net Income ($m) | 3.1 | 3.1 | 4.6 | 7.9 |
| Adjusted EBITDA ($m) | 6.8 | 7.7 | 16.9 | 19.9 |
| Guidance (FY 2025 Revenue) | — | $117–$119 | — | — |
Pay versus performance reference:
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Value of $100 Investment (TSR) | $44 | $24 | $58 |
| Net Income ($000s) | 5,432 | (48,674) | 7,851 |
Governance and Compensation Committee
- Compensation Committee members: John N. Daly (Chair), Cameron P. Munter; both independent and non-employees in 2024 .
- Audit Committee: Anne M. Busquet (Chair; audit committee financial expert), Lawrence S. Sharnak, John N. Daly .
- Annual Say-on-Pay proposal presented in 2025 proxy; next Say-on-Pay frequency vote expected in 2029 .
Related Party and Historical Arrangements
- Prior consulting agreement with entity owned/controlled by Snyder (as a former non-independent director), under which he received Series B Preferred RSUs in 2022–2024; agreement terminated April 30, 2024 prior to Snyder’s return as President (May 1, 2024) and Co-CEO (Jan 1, 2025) .
- Broader related party transactions primarily involve the Executive Chairman (leases and physician services), not Snyder .
Investment Implications
- Alignment and retention: Snyder’s pay mix includes at-risk bonuses tied to operating results and RSU vesting cadence at year-end; 2024 vesting completed and no outstanding executive awards at FY-end, which can reduce near-term forced selling from vest events .
- Strong retention economics: Severance provides 24 months of salary (and 24 months plus target bonus on change-of-control) with COBRA, supporting stability but adding potential exit costs; non-compete and non-solicit provisions enhance retention and protect IP/customer relationships .
- Ownership and policy controls: Snyder holds 229,495 common shares (0.5%) and 30,790 Series B preferred shares (2.0%); company policy bans hedging and pledging with only narrow, pre-approved exceptions, supporting alignment and limiting risky behaviors .
- Execution track record: Under current leadership, CareCloud raised FY2025 revenue guidance and delivered sustained GAAP profitability with acquisitive expansion (e.g., Medsphere), indicating momentum in Snyder’s focus areas (growth, integration, AI) .
- Governance oversight: Independent Compensation Committee and explicit insider trading and award-timing controls reduce MNPI-related risk; prior Snyder consulting arrangement was disclosed and concluded before his executive reappointment, mitigating ongoing conflict concerns .