Richard P. Stovsky
ENCORE CAPITAL GROUPAbout Richard P. Stovsky
Richard P. Stovsky, age 67, has served as an independent director of Encore Capital Group (ECPG) since August 2018 and is the Audit Committee Chairman; he is designated by the Board as an “audit committee financial expert.” A retired Vice Chairman of PricewaterhouseCoopers LLP, he is a Certified Public Accountant and licensed to practice law in Ohio; he also serves on ECPG’s Risk Committee .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| PricewaterhouseCoopers LLP (PwC) | Vice Chairman; prior roles of increasing responsibility | 1983–2018 | CPA; extensive tax and business advisory experience across industries |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Olympic Steel, Inc. | Director | Since May 2020 | Member, Audit & Compliance Committee; Member, Compensation Committee |
| The Cleveland Orchestra | Trustee/Director | Not disclosed | Civic leadership |
| The 50 Club of Cleveland | Member/Director | Not disclosed | Civic leadership |
| The Cleveland Museum of Art | Trustee/Director | Not disclosed | Civic leadership |
| Bluecoats of Cuyahoga County | Trustee/Director | Not disclosed | Civic leadership |
| The Cleveland Foundation | Trustee/Director | Not disclosed | Civic leadership |
| University School | Trustee/Director | Not disclosed | Civic leadership |
Board Governance
- Committee assignments and roles: Audit (Chair), Risk (Member); Board met 6 times in 2024; Audit 9; Risk 4 .
- Independence: The Board determined all directors other than the CEO (Ashish Masih) are independent; Stovsky is independent and qualifies as an audit committee financial expert per SEC rules and Nasdaq standards .
- Attendance and engagement: Each incumbent director attended at least 75% of Board and applicable committee meetings in 2024; all current directors attended the 2024 annual meeting; independent directors meet in executive session following regularly scheduled Board meetings .
- Audit Committee scope includes appointment/oversight of auditors, internal audit oversight, financial reporting/internal controls, and review/approval of related person transactions .
| Committee | Role | 2024 Meetings |
|---|---|---|
| Audit | Chair | 9 |
| Risk | Member | 4 |
| Board | Director | 6 |
Fixed Compensation
| Component | 2024 Amount | Details |
|---|---|---|
| Fees Earned or Paid in Cash | $112,000 | Board/committee cash compensation earned in 2024 |
| Stock Awards | $154,998 | Annual director equity retainer; granted as DSUs (3,829 units) for 2024 |
| Total | $266,998 | Sum of cash fees and stock awards |
Director compensation program structure (reference): Board annual cash retainer $75,000; Committee Chair $25,000 (per committee); Committee service $10,000 (per committee); additional committee service fee $1,000 per meeting starting with the seventh meeting; Non‑Executive Chairman $120,000; Annual equity grant $155,000 (fully vested on grant, issued the fifth business day after the annual meeting) .
Performance Compensation
| Performance-linked component | Design | Metric(s) | 2024 Detail |
|---|---|---|---|
| None disclosed for non-employee directors | Annual common stock/DSU grant fully vested at grant (no performance conditions) | N/A | 3,829 DSUs for 2024 annual grant; grant-date value $155,000 |
ECPG emphasizes equity over cash for directors and does not provide material perquisites; director equity awards are fully vested on grant (i.e., not performance-based) .
Other Directorships & Interlocks
| Company | Role | Committee Roles | Interlocks/Conflicts Noted |
|---|---|---|---|
| Olympic Steel, Inc. | Director | Audit & Compliance; Compensation | No ECPG compensation committee interlock (ECPG comp committee members are Gupta, Olle, Knight, Goings) |
No related person transactions were disclosed beyond standard indemnification agreements; the Audit Committee oversees and approves any related person transactions under a written policy .
Expertise & Qualifications
- CPA; licensed attorney in Ohio; retired PwC Vice Chairman with extensive tax and business advisory experience .
- Audit Committee Financial Expert designation; meets Nasdaq financial sophistication requirements .
- Risk oversight experience via membership on ECPG’s Risk Committee .
Equity Ownership
| Metric | As of | Value |
|---|---|---|
| Shares Beneficially Owned | April 11, 2025 | 23,352 (includes fully vested deferred issuance RSUs/DSUs) |
| Ownership as % of shares outstanding | April 11, 2025 | Less than 1% of 23,448,221 shares outstanding |
| RSU/DSU units outstanding (prior year) | December 31, 2023 | 19,523 |
| DSU grant (2024) | June 7, 2024 cycle | 3,829 DSUs (annual equity retainer) |
- Director stock ownership guideline: 5x annual Board cash retainer; all directors have met the guideline .
- Hedging and pledging of Company stock prohibited under Insider Trading Policy; directors are subject to the restrictions .
Governance Assessment
- Strengths: Independent Audit Chair with audit financial expert credentials; structured committee charter oversight of financial reporting, internal controls, and related party transactions; robust director ownership guideline; hedging/pledging prohibited; high say‑on‑pay support (98% approval in 2024), signaling shareholder confidence in compensation governance .
- Engagement: At least 75% attendance threshold met; participation in executive sessions; attendance at the annual meeting .
- Conflicts/Red Flags: No related person transactions involving Stovsky disclosed; no compensation committee interlocks at ECPG; director equity fully vested but not performance-conditioned is standard practice for directors, not an alignment concern given ownership guidelines and DSU deferrals .