John G. DeLuca
About John G. DeLuca
John G. DeLuca, age 48, is Envela Corporation’s Chief Financial Officer (CFO) since March 25, 2024, and also serves as Secretary and Treasurer since May 7, 2024; he joined the company on January 3, 2023 . He is a CPA with a BSBA and MBA from John Carroll University and brings a comprehensive background in accounting, financial reporting, and FP&A, with deep experience in the secondary-metals processing industry . Company performance context during 2022–2024: Net Income was $15.7M in 2022, $7.1M in 2023, and $6.7M in 2024, while TSR moved from 29.24% (2022) to 19.41% (2023) to 76.66% (2024) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Envela Corporation | CFO | Mar 2024–Present | Senior financial leadership overseeing reporting, planning, and capital allocation . |
| Envela Corporation | Secretary & Treasurer | May 2024–Present | Corporate governance and treasury responsibilities . |
| Envela Corporation | Senior finance leader | Jan 2023–Mar 2024 | Led accounting, reporting, and FP&A prior to CFO appointment . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Move It Storage | CFO | Fiscal 2022 | Oversaw finance in storage operations . |
| AIM Recycling, LLC | SVP Accounting & Finance | Fiscal 2021 | Led accounting and finance in metals recycling . |
| Emerald Textiles, LLC | CFO | Fiscal 2020 | Directed finance in textile services . |
| Recycling Management Resources | EVP Finance | May 2018–Jan 2020 | Finance leadership in recycling operations . |
Fixed Compensation
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Base Salary ($) | — | 210,330 | 220,000 |
| Target Bonus (%) | Not disclosed | Not disclosed | Not disclosed |
| Actual Bonus Paid ($) | — | 40,000 | 60,000 |
| Stock Awards (RSUs/PSUs) | Not disclosed | Not disclosed | Not disclosed |
| Option Awards | Not disclosed | Not disclosed | Not disclosed |
Notes:
- Envela discloses a three-component program (base salary, annual cash bonus, and long-term incentives), but does not detail target bonus % for the CFO in the proxy .
- As of FY-end 2024, no outstanding equity awards were reported; historical plans (2004, 2016) were terminated, and no awards remained outstanding .
Performance Compensation
| Incentive Type | Metric | Weighting | Target | Actual | Payout ($) | Vesting |
|---|---|---|---|---|---|---|
| Annual Cash Bonus | Corporate and individual financial/operational goals | Not disclosed | Not disclosed | Not disclosed | 40,000 (FY 2023) | Cash (N/A) |
| Annual Cash Bonus | Corporate and individual financial/operational goals | Not disclosed | Not disclosed | Not disclosed | 60,000 (FY 2024) | Cash (N/A) |
- The compensation program states performance-based incentive cash bonuses reward achievement of specific financial and operational goals at corporate and individual levels; exact metrics, weights, and targets for the CFO are not disclosed .
Equity Ownership & Alignment
| Year | Shares Beneficially Owned | % of Shares Outstanding | Vested vs Unvested Shares | Options (Exercisable/Unexercisable) | Pledged as Collateral |
|---|---|---|---|---|---|
| 2024 (Record Date Apr 30, 2024) | 1,121 | ~0.0043% (1,121 / 26,276,427) | Not disclosed | None outstanding at FY-end | Not disclosed |
| 2025 (Record Date Apr 30, 2025) | 2,271 | ~0.0087% (2,271 / 25,995,201) | Not disclosed | None outstanding at FY-end | Not disclosed |
Additional alignment disclosures:
- Anti-hedging policy: Directors, executive officers, and employees are prohibited from hedging transactions in Envela securities (options, swaps, collars, short sales, etc.) .
- Stock ownership guidelines and pledging policy: Not disclosed in proxies reviewed.
Employment Terms
- Start date and roles: Hired Jan 3, 2023; CFO since Mar 25, 2024; Secretary & Treasurer since May 7, 2024 .
- Employment agreement: No employment agreements as of Dec 31, 2024; executives are beneficiaries of customary indemnification agreements . Similarly, no employment agreements as of Dec 31, 2023 and Dec 31, 2022 .
- Severance and change-of-control: Not disclosed for the CFO in proxies; company adopted/put forward the 2025 Equity Incentive Plan (options-only) with no repricing without shareholder approval, minimum 1-year vesting, and standard adjustments for capitalization changes and mergers but does not describe executive severance economics .
- Clawback/forfeiture: The 2025 Plan allows for forfeiture/recoupment of option-related rights for conduct detrimental to the company; cash bonus clawback policy not specifically disclosed .
Company Performance Context (Financials)
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Revenues ($) | 182,685,854 * | 175,263,826* | 180,376,229 * |
| EBITDA ($) | 15,396,363 * | 10,118,853* | 9,710,655 * |
Values retrieved from S&P Global.
- Asterisk indicates periods where tool returned values without document citations.
Pay vs Performance (Disclosed)
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Net Income ($) | 15,689,133 | 7,147,452 | 6,740,718 |
| TSR (%) | 29.24% | 19.41% | 76.66% |
Compensation Committee, Peer Group, and Say-on-Pay
- Compensation Committee: Comprised of independent directors; chaired by Richard D. Schepp; charter posted; met four times in Fiscal 2024 .
- Consultants: Condon Tobin reviewed comp in 2022; Egan Nelson engaged with findings expected late Q2/early Q3 2025 .
- Peer group composition and target percentile: Not disclosed.
- Say-on-Pay: On ballot in 2025; Board recommends FOR approval . Say-When-on-Pay frequency recommended “Three Years” . Historical vote outcomes not disclosed in reviewed proxies.
Risk Indicators & Red Flags
- Hedging/short sales prohibited via Anti-Hedging Policy; pledging status not disclosed .
- No employment agreements disclosed for executives across 2022–2024, implying at-will employment and lack of formal severance/change-of-control protections in contracts .
- No material related-party transactions in Fiscal 2023–2024 .
- Outstanding equity awards: None as of FY-end 2024; potential dilution governed by the proposed 2025 Plan with a 1.1M share reserve and no repricing without shareholder approval .
Investment Implications
- Pay-for-performance transparency is limited: Cash bonus framework is disclosed but specific metrics/targets and weighting for the CFO are not, reducing clarity on incentive alignment .
- Alignment currently skews cash: CFO had cash salary and bonuses with no outstanding equity at FY-end 2024; equity alignment may increase only if the 2025 options plan leads to grants meeting minimum vesting and at-market exercise price standards .
- Ownership is small: 2,271 shares as of April 30, 2025 (~0.0087% of outstanding), indicating limited direct equity exposure; anti-hedging policy supports alignment by disallowing hedging/short sales .
- Retention risk moderate: Absence of an employment agreement or disclosed severance/change-of-control protections suggests fewer contractual retention levers; upcoming option plan could improve retention and alignment if utilized .