David Reiner
About David Reiner
David Reiner is Chief Accounting Officer (CAO) of CreditRiskMonitor.com, Inc. (CRMZ). He joined CRMZ in May 2013 as Controller, became Vice President, Corporate Controller in 2020, and was appointed CAO on May 23, 2024; he is age 55 with an MBA in Accounting from Pace University and a BS in Business Administration and Finance from Bryant University . Company performance context during his tenure shows TSR of $130 for a hypothetical $100 initial investment in 2024 versus $97 in 2023 and $142 in 2022, with net income of $1.675M in 2024, $1.695M in 2023, and $1.360M in 2022 . Revenues rose through FY2022–FY2024 while EBITDA softened in FY2024; see table below for details (S&P Global data where noted). Overall, Reiner’s remit covers day-to-day accounting, audits, HR, and facilities management, aligning with internal control reliability and financial reporting quality .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| CreditRiskMonitor.com, Inc. | Controller | 2013–2020 | Led day-to-day accounting and year-end/SOX audits; also HR and facilities management |
| CreditRiskMonitor.com, Inc. | Vice President, Corporate Controller | 2020–2024 | Built and managed accounting function; governance over financial reporting |
| CreditRiskMonitor.com, Inc. | Chief Accounting Officer | 2024–present | Senior financial officer overseeing accounting, controls, audits, HR, facilities |
External Roles
Not disclosed in company filings for Reiner (no public-company directorships or external committee roles listed) .
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Base Salary (role-level) | $185,000 | Annual CAO salary established on appointment (effective May 23, 2024) |
| Salary Paid (FY2024) | $172,984 | Actual FY2024 salary reported in SCT |
| Target Bonus % | Not disclosed | Company states eligibility but no target % provided |
| Bonus Paid (FY2024) | $37,000 | Awarded for FY2024, paid subsequent year per policy |
| All Other Compensation | — | No amounts reported |
Performance Compensation
- Cash annual incentive: Eligibility disclosed, but performance metrics, weighting, targets, and payout formula are not disclosed for Reiner; FY2024 cash bonus paid $37,000 .
- Equity awards: Options only; no RSUs/PSUs disclosed for Reiner. Vesting terms governed by plan defaults (see Vesting & Change-in-Control below) .
FY2024 Equity Grants (Reiner)
| Grant Date | Type | Shares/Options (#) | Exercise Price ($/sh) | Grant-Date Fair Value ($) |
|---|---|---|---|---|
| 3/13/2024 | Stock Option | 2,000 | $2.20 | $2,724 |
Outstanding Equity Awards (as of 12/31/2024, Reiner)
| Exercisable (#) | Unexercisable (#) | Exercise Price ($) | Expiration Date |
|---|---|---|---|
| 5,000 | — | $2.90 | 01-05-26 |
| 1,000 | — | $3.00 | 10-26-26 |
| 600 | 400 | $1.45 | 10-24-29 |
| 150 | 350 | $2.19 | 10-29-29 |
| — | 2,000 | $1.85 | 01-28-32 |
| — | 1,500 | $2.70 | 01-25-33 |
| — | 2,000 | $2.20 | 03-13-32 |
Note: Company disclosed Reiner has 6,750 stock options exercisable, each NEO holding less than 1% of class . Closing market price on 12/31/2024: $3.03/sh (useful for in-the-money context) .
Vesting & Change-in-Control Terms
- 2009 LTIP: Options become exercisable in 20% increments beginning on the 4th anniversary of grant .
- 2020 LTIP: Vesting begins in five annual 20% increments starting on the 2nd anniversary of grant .
- Change-in-control: Options vest in full at the time of such change in control per plan/award agreements .
Performance Metrics Table (cash/stock plans)
Not disclosed for NEOs (no metric weighting or target/actual/payout schedule provided) .
Equity Ownership & Alignment
| Item | Value | Notes |
|---|---|---|
| Common shares owned | — | No direct share ownership disclosed for Reiner |
| Options exercisable | 6,750 | Less than 1% of class |
| Options unexercisable | See table | Multiple tranches and expirations (above) |
| Ownership as % of shares outstanding | <1% | Per beneficial ownership table |
| Hedging policy | Hedging/monetization not prohibited | Company does not maintain a policy prohibiting hedging/monetization transactions (potential alignment risk) |
| Pledging | Not disclosed | No pledging prohibition disclosed; no pledges disclosed |
| Stock ownership guidelines | Not disclosed | No executive ownership guideline disclosure |
Employment Terms
| Term | Details |
|---|---|
| Appointment date & role | Appointed CAO effective May 23, 2024 |
| Base salary | $185,000 (CAO) |
| Bonus/equity eligibility | Eligible; specific targets or equity mix not disclosed |
| Severance provisions | Not disclosed in proxy/8-K |
| Change-in-control economics | Equity options accelerate and vest in full upon change-in-control under plan terms |
| Clawback | Not disclosed; Code of Ethics applies to CEO/President/CFO (principal accounting officer), but no clawback policy cited |
| Non-compete / non-solicit | Not disclosed |
| Insider trading policy | Company maintains an insider trading policy; copy filed with 2024 Form 10-K exhibits |
Company Performance Context
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Revenues (USD) | $17,979,317* | $18,931,931 | $19,809,881 |
| EBITDA (USD) | $1,953,821* | $1,875,863* | $1,651,538* |
Financial values marked with * retrieved from S&P Global.
- Pay versus performance: TSR for $100 initial investment and net income shown below (company disclosure) . | Metric | 2022 | 2023 | 2024 | |--------|------|------|------| | TSR ($100 initial) | $142 | $97 | $130 | | Net Income (USD) | $1,360,238 | $1,695,053 | $1,674,902 |
Governance and Shareholder Feedback (context for compensation oversight)
- Compensation Committee members: Brigitte Muehlmann, Lisa Reisman, Joshua M. Flum; authority to engage outside advisors .
- Hedging and pledging: Hedging/monetization not prohibited under insider trading policy .
- 2025 Say-on-Pay results: 6,732,866 For; 127,578 Against; 35,515 Abstain; broker non-votes 1,180,944 (approval passed) .
- Say-on-Pay frequency: “Three years” supported by 6,112,623 votes; Board adopted triennial cadence .
Investment Implications
- Alignment: Reiner’s skin-in-the-game is primarily via options (6,750 exercisable; multiple unexercisable tranches), with no direct share ownership disclosed—this reduces immediate selling pressure but also limits direct economic alignment with common shareholders; permissive hedging policy is a governance red flag for alignment quality .
- Retention risk: 2020 Plan’s vesting starting two years post-grant with 5-year 20% tranches supports retention; however, full acceleration on change-in-control weakens retention in M&A scenarios and could incentivize deal timing over long-run performance .
- Pay-for-performance transparency: Bonus eligibility is disclosed but not the performance metrics, targets, or weighting, reducing visibility into incentive quality; lack of clawback disclosure further lowers governance safeguards versus best practice .
- Trading signals: Limited near-term insider selling pressure from Reiner due to no common shares disclosed; small option positions and expirations in 2026/2029/2032/2033 are unlikely to be material, but monitoring Section 16 filings remains prudent given the permissive hedging stance .
- Shareholder sentiment: Strong 2025 say-on-pay approval and triennial frequency suggest investor acceptance of the current compensation framework, though transparency improvements on metrics and adoption of anti-hedging and clawback policies would strengthen governance and alignment .