Laura Coffey
About Laura Coffey
Laura Coffey, 58, has served as Chief Financial Officer of Solo Brands (DTC) since February 5, 2024, bringing 25+ years of retail and finance leadership across The Vitamin Shoppe and Pier 1 Imports, and currently chairs the audit committee of Community National Bank & Trust of Texas . 2024 was a reset year: the company missed annual bonus targets (no bonuses paid) and reported material weaknesses in internal control (2023 and 2024), while also receiving an NYSE notice for minimum bid price non‑compliance—factors elevating execution risk during her early tenure . Her incentive mix is heavily equity‑linked with RSUs and PSUs tied to stock price hurdles, aligning upside to shareholder outcomes through 2027 .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| The Vitamin Shoppe, Inc. | EVP & Chief Financial Officer | 2020–2023 | Led finance during portfolio and margin initiatives at a national specialty retailer . |
| Pier 1 Imports, Inc. | EVP E‑commerce & Business Development; EVP Planning & Allocations; Interim CFO; various senior finance roles | 23 years | Drove omnichannel, e‑commerce, and financial stewardship across cycles . |
| KPMG | Early career | n/a | Foundational public accounting experience . |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Community National Bank & Trust of Texas | Director; Executive Committee; Audit Committee Chair | Current | Governance and audit leadership in regulated financial services . |
Fixed Compensation
| Item | 2024 | Policy/Target |
|---|---|---|
| Base salary | $442,308 (partial year) | $500,000 annual base salary |
| Target annual bonus | $0 paid (targets not achieved) | 60% of base salary target; up to 90% max per employment agreement |
Performance Compensation
Long-term equity awards and vesting
| Award type | Grant date | Granted | Vesting/Performance | Status/Notes |
|---|---|---|---|---|
| RSUs | Feb 5, 2024 | 166,666 | Time‑based; one‑third each on 1st, 2nd, 3rd anniversaries; Ms. Coffey’s RSUs were amended to align with 3‑year schedule | Unvested as of 12/31/2024; reported fair value $189,999 |
| PSUs | Apr 8, 2024 | 249,999 | One‑third vests upon each 30‑day avg VWAP hurdle of $4.00, $5.00, $6.00 achieved on/before Feb 28, 2027; continued employment through 2/28/2027 required | Unvested as of 12/31/2024; reported fair value $284,999 |
Additional context: Her Feb 1, 2024 employment agreement contemplated initial equity grants of 250,000 RSUs and 250,000 PSUs; actual awards delivered were 166,666 RSUs (Feb) and 249,999 PSUs (Apr) after the annual grant cycle and subsequent RSU vesting alignment .
Annual cash incentive (2024)
| Metric framework | Target | Actual payout |
|---|---|---|
| Company financial metrics (undisclosed in proxy); CFO target 60% of base; max 90% with accelerator | 60% target; up to 90% max | $0 (Company did not achieve targeted financial metrics) |
Equity Ownership & Alignment
| Category | Detail |
|---|---|
| Total beneficial ownership | 58,626 shares of Class A common stock; less than 1% of outstanding . |
| Unvested awards outstanding (12/31/2024) | RSUs: 166,666 (fair value $189,999); PSUs: 249,999 (fair value $284,999) . |
| Stock options | None disclosed for Ms. Coffey . |
| Anti‑hedging | Directors, officers, and employees are prohibited from hedging transactions (e.g., prepaid variable forwards, swaps, collars, exchange funds) under the Insider Trading Compliance Policy . |
| Pledging | No explicit pledging prohibition disclosed in proxy; not specified . |
| Ownership guidelines | Not disclosed in the proxy . |
Vesting overhang and potential selling pressure:
- RSUs convert into sellable shares in equal annual tranches over three years from grant, creating periodic supply; PSUs vest only upon sustained stock price milestones by Feb 28, 2027, concentrating potential liquidity events around threshold achievements .
Employment Terms
| Term | Coffey provisions |
|---|---|
| Start date | February 5, 2024 . |
| Term/auto‑renewal | At‑will per employment agreement (continues until terminated) . |
| Severance (without Cause/for Good Reason) | 12 months base salary continuation and company‑paid benefits during the severance period, subject to release; bonus only if previously earned and unpaid . |
| Change‑in‑control | Enhanced double‑trigger multipliers detailed for former CEO; no enhanced CIC multiple disclosed for Ms. Coffey beyond standard severance . |
| Non‑compete / Non‑solicit | Non‑compete and non‑solicitation for one year post‑termination; perpetual confidentiality and non‑disparagement . |
| Indemnification | Expected to enter standard D&O indemnification agreement . |
Investment Implications
- Pay for performance alignment: Her incentive mix is dominated by equity—particularly PSUs tied to stock‑price hurdles by 2027—creating high sensitivity to TSR and sustained price recovery; 2024 annual bonus paid $0 due to missed internal targets, reinforcing discipline but also indicating near‑term operational headwinds .
- Vesting and supply dynamics: Three‑year RSU vesting sets predictable annual supply; PSU vesting can cluster around VWAP thresholds ($4/$5/$6 by Feb 2027), potentially catalyzing insider selling pressure upon milestone attainment .
- Governance and risk: Anti‑hedging policy supports alignment, but no explicit pledging prohibition or ownership guideline disclosure in the proxy—monitor upcoming filings for any clawback and ownership policy disclosures (mandatory under listing standards, often filed via 10‑K exhibits) .
- Execution risk flags: Reported material weaknesses in internal control (2023 and 2024) and NYSE minimum bid deficiency notice elevate near‑term execution and listing risks; successful remediation and stock stabilization are key markers for incentive realization and retention .
Education and credentials: BBA in Business Administration and Accounting, University of Texas at Arlington .
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