Elliot Humble
About Elliot Humble
Elliot Humble is a founder of ECD Automotive Design and its Chief Technology Officer, age 34 as of the 2025 proxy, with 20 years of experience across automotive customization, technology, and maintenance; he holds a degree in Sports and Exercise Science from Leeds Metropolitan University and has led procurement, production planning, QC, product development, logistics, and client relations since ECD’s inception in 2013 . He is described as overseeing sales and build processes, including product options, development, design, implementation, production, QC, and customer service . Performance metrics such as TSR, revenue growth, and EBITDA growth tied to his tenure are not disclosed in company filings.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Halfords Auto Retailers (UK) | Early career roles | Not disclosed | Experience in quality control, design, capital forecasting, and vendor relations |
| Hawk-Eye (sports technology) | Not disclosed | Not disclosed | Technology and operations experience in sports tech |
| FR Systems (sports technology) | Not disclosed | Not disclosed | Technology and operations experience in sports tech |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Overland Auto Transport d/b/a Luxury Automotive Transport | Director and co-owner | 2019–present | Logistics and transport oversight complementing ECD’s build and delivery operations |
Fixed Compensation
- ECD is an emerging growth company; NEO pay is primarily base salary and benefits, with discretionary bonuses determined by the Board; equity awards were not broadly utilized in 2024 .
- Standard NEO benefits include an automobile allowance of $2,000/month, full premiums for healthcare/dental/vision (including spouse), PTO of 20 days, and participation in a 401(k) with matching (100% of first 3% and 50% of next 2%) .
Multi-year compensation
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Base Salary ($) | $99,999 | $100,000 pre-BC / $320,000 post-BC | $320,000 |
| Bonus ($) | $21,852 | — (Board discretionary; may be based on revenue/profitability) | — (Board discretionary; may be based on revenue/profitability) |
| Other Compensation ($) | $6,000 | $4,000 (includes 401(k) match/bonus paid) | $24,000 |
Benefits & Perquisites
| Benefit | Terms |
|---|---|
| Automobile allowance | $2,000 per month |
| Healthcare/vision/dental premiums | Company pays full premiums for employee and spouse |
| PTO | 20 days per calendar year (prorated) |
| 401(k) match | 100% of first 3% contributed; 50% of the next 2% |
| Section 280G (parachute tax) | Company will not pay any benefit that would create an excise tax under 280G |
Performance Compensation
- Discretionary bonuses are set at the Board’s sole discretion and “may be based upon the Company’s total revenue, profitability, and any other factors” (no disclosed targets, weightings, or payouts for Elliot) .
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Discretionary annual bonus (potential) | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Cash; no vesting terms disclosed |
| KPI-linked monthly dividends (footnote reference) | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Not disclosed |
Note: Filings explicitly state bonuses are discretionary and do not include monthly dividends paid upon achievement of certain KPIs in the table; specific KPI definitions, targets, and outcomes are not disclosed .
Equity Ownership & Alignment
- Elliot Humble’s beneficial ownership increased in absolute terms to 1,200,000 shares but his percentage decreased due to a higher share count after the business combination and subsequent issuances. No pledging or hedging disclosures specific to Elliot appear in the cited filings.
Beneficial ownership snapshots
| As-of Date | Shares | % of Outstanding |
|---|---|---|
| Nov 27, 2024 | 1,200,000 | 3.8% (36,199,662 shares outstanding) |
| Jul 2, 2025 | 1,200,000 | 2.5% (47,582,259 shares outstanding) |
Equity awards and options
| Item | Status |
|---|---|
| RSUs/PSUs outstanding | None disclosed for Elliot |
| Options outstanding | None disclosed for Elliot; CFO received 100,000 fully vested options in Jan 2025 |
| Shares pledged as collateral | No pledging disclosure for Elliot found in filings |
| Stock ownership guidelines | Not disclosed |
Context: The 2023 Equity Incentive Plan increased authorization from 400,000 to 2,500,000 shares; the 2025 proxy states none had been issued as of Dec 31, 2024, implying limited equity grants through 2024 .
Employment Terms
- Elliot’s employment agreement is referenced (Exhibit 10.21 to the 2024 10-K); the proxy outlines a standardized two-year term with automatic one-year renewals, base salary, discretionary bonuses, auto allowance, healthcare coverage, and 401(k) participation; it also states the company will not provide benefits triggering 280G excise taxes .
- Company employment agreements for executives (as evidenced in separation agreements for other NEOs) contain restrictive covenants, including non-compete, non-interference, non-disparagement, confidentiality, and IP assignment; Elliot’s agreement is referenced but the specific restrictive covenant terms are not reproduced in the proxy excerpts .
| Term | Detail |
|---|---|
| Contract term | Two (2) years with automatic one-year renewals |
| Compensation elements | Base salary (see table), discretionary annual or quarterly bonus |
| Perquisites | $2,000/month auto allowance; full premiums for healthcare/vision/dental for employee/spouse |
| Retirement | 401(k) participation with matching (100% of first 3%; 50% of next 2%) |
| PTO | 20 days annually (prorated) |
| Change-of-control | No specific severance multiple or accelerated vesting terms disclosed for Elliot |
| Clawback | Not disclosed |
| Restrictive covenants | Company executive employment agreements include non-compete/non-solicit/confidentiality/IP assignment; Elliot’s agreement referenced, specific terms not reproduced |
Reference practice for other executives: Recent separation agreements for Emily and Thomas Humble provide 6 months’ cash severance (base salary + auto allowance), 6 monthly equity issuances (May–Oct 2026, $32,000 value each, priced at the highest closing within prior 10 days), and 6 months of COBRA premiums; this may indicate precedent, but Elliot’s severance terms are not disclosed .
Investment Implications
- Pay-for-performance alignment: Elliot’s cash-heavy mix and absence of disclosed equity grants through 2024 suggest alignment is driven more by founder share ownership (1.2M shares) than by new at-risk equity awards; bonus determinations are discretionary without disclosed performance targets, limiting external visibility into incentive alignment .
- Insider selling pressure/vesting: No disclosed RSU/option vesting schedule for Elliot; new plan capacity (2.5M shares) could introduce future grant overhang if utilized, but none issued as of year-end 2024; recent separation equity issuances to other execs create supply risk in 2026 but are not related to Elliot .
- Retention risk: Auto-renewing employment terms and comprehensive benefits reduce near-term retention risk; standard restrictive covenants (non-compete, non-solicit, confidentiality) in executive agreements further mitigate knowledge leakage risk, though Elliot-specific restrictive terms aren’t reproduced in the proxy .
- Governance/related party and conflicts: Elliot’s external role at Overland Auto Transport is disclosed; no specific related-party transaction disclosures or pledging/hedging flags for Elliot appear in the cited excerpts .
- Monitoring: With bonuses discretionary and targets undisclosed, track Board commentary and filings for any evolution toward formal performance metrics (revenue, EBITDA, TSR) and any future equity awards under the expanded plan, which would improve transparency and alignment signals .