Michael Lacapria
About Michael Lacapria
Senior Vice President and Chief Financial Officer of Esquire Financial Holdings, Inc. since December 2018; age 47 as of April 1, 2025; previously CFO of Deutsche Bank Trust Corporation and finance leader at Cantor Fitzgerald, with earlier tenure at KPMG’s financial services audit practice . Company performance under current executive team shows rising net income and strong TSR: Net Income rose to $43.7M in 2024 and TSR measured $257 (indexed to $100) versus $227 in 2022 . He signs SOX 302/906 certifications, indicating direct accountability for disclosure controls and fair presentation of financials .
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Total Shareholder Return (Indexed $100) | $227 | $264 | $257 |
| Net Income ($USD) | $28,518,378 | $41,010,649 | $43,657,527 |
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Deutsche Bank Trust Corporation | Chief Financial Officer; Regional finance director for U.S. operations | Oct 2016–Dec 2018 | Managed U.S. legal entity external financial reporting and led ~70-person finance team |
| Cantor Fitzgerald (real estate lending and investment management) | Director; head of accounting and finance for Cantor Commercial Real Estate | 2014–2016 | Led accounting/finance function for CRE platforms |
| KPMG LLP (NY Financial Services Audit) | Audit manager/member focused on investment and commercial banking | 2000–2014 | Senior manager on several global audits for multinational public investment banking clients |
External Roles
- No public company board directorships disclosed; Lacapria is not a director at ESQ .
Fixed Compensation
- CFO-specific base salary, target bonus %, and actual bonus are not itemized in the NEO Summary Compensation Tables for 2023–2024 (NEOs listed are CEO Sagliocca, COO Bader, EVP Kornhaber) . ESQ’s Annual Incentive Plan (AIP) applies to executive officers, including NEOs, and is based on a scorecard of financial and strategic metrics, with payouts from 0–150% of target .
Performance Compensation
- AIP scorecard (company-level metrics and achievement for 2024):
| Metric | Weight | Threshold | Target | Maximum | Actual | Metric Achievement | Weighted Achievement |
|---|---|---|---|---|---|---|---|
| Return on Avg Assets (ROAA) | 18.75% | 2.21% | 2.45% | 2.70% | 2.57% | 124.5% | 23% |
| Diluted EPS | 18.75% | $4.70 | $4.95 | $5.20 | $5.14 | 138.4% | 26% |
| Non-Performing Assets / Total Assets | 18.75% | 0.90% | 0.75% | 0.60% | 0.58% | 150.0% | 28% |
| Supervisory Rating | 18.75% | 3 | 2 | 1 | 2 | 100.0% | 19% |
| Strategic Goals | 25.00% | — | — | — | 100.0% | 100.0% | 25% |
| Total | 100% | — | — | — | — | — | 121% overall AIP achievement |
- LTIP design (adopted for 2024 grants awarded in Jan 2025): balanced RSAs (50%) and PSUs (50%); RSAs vest over five years (one-third in years 3–5); PSUs measured on two equally weighted metrics—ROAA and Diluted EPS growth—over a two-year performance period, cliff vest at the three-year anniversary; payout range 0–150% upon certification .
| Award type | Metric | Weighting | Performance period | Vesting | Payout range |
|---|---|---|---|---|---|
| PSU | ROAA | 50% | 2 years | Cliff at 3-year anniversary | 0–150% |
| PSU | Diluted EPS growth | 50% | 2 years | Cliff at 3-year anniversary | 0–150% |
| RSA | Time-based | — | — | One-third at years 3–5 | N/A |
Equity Ownership & Alignment
| Ownership element | Detail |
|---|---|
| Total beneficial ownership | 29,411 shares; “less than 1%” of outstanding |
| Ownership as % of shares outstanding | ~0.35% (29,411 / 8,431,774) derived from disclosed counts |
| Unvested restricted stock | 11,246 shares |
| Options exercisable | 8,999 shares |
| Shares pledged as collateral | None—company states no pledging by directors/executive officers |
| Anti-hedging policy | Hedging transactions prohibited for directors, officers, employees |
| Clawback policy | Dodd-Frank compliant; recoup erroneously awarded incentive comp for 3 prior fiscal years if a restatement is required |
| Equity plan change-of-control provisions | Accelerated vesting upon involuntary termination following change in control; options fully exercisable; RS awards fully vest; plan-level change-in-control acceleration applies broadly |
Note: Company-level share-based activity shows significant option exercises YTD 2025 (201,569 options exercised; cash received $875K; excess tax benefit $2.635M), indicating aggregate insider exercise supply, not CFO-specific .
Employment Terms
- No CFO-specific employment agreement terms disclosed; employment agreements and severance/change-of-control economics are detailed only for CEO Sagliocca, COO Bader, and EVP Kornhaber (e.g., base salaries, severance formula, and change-of-control multiples including tax gross-ups) .
- Equity plan treatment on termination/change-in-control applies to participants generally and would govern the vesting/exercise of Lacapria’s awards (see change-of-control and termination provisions above) .
- Insider Trading Policy, anti-hedging, Code of Ethics, and SOX certifications underscore compliance and governance expectations for CFO role .
Investment Implications
- Alignment: Lacapria holds a modest but meaningful equity stake with 11,246 unvested RS and 8,999 exercisable options; no pledging, anti-hedging, and an adopted clawback reduce misalignment risk .
- Incentive design: Company AIP and PSU metrics focus on ROAA, EPS, asset quality, and supervisory ratings with disciplined thresholds and capped payouts (0–150%); RSAs’ delayed vesting fosters retention and long-term focus .
- Retention/change-in-control: While CFO-specific cash severance economics aren’t disclosed, plan-level accelerated vesting on change-in-control mitigates flight risk around transactions; tax gross-up language applies to other named executives, but no CFO-specific disclosure is made—monitor future proxies for any updates .
- Trading signals: Company-wide option exercise activity in 2025 indicates broader insider monetization; track Lacapria’s Form 4 filings for timing and size of exercises/sales to gauge individual selling pressure and window disciplines .
- Execution and controls: Recurring SOX certifications by Lacapria emphasize accountability for internal controls and fair financial presentation—supportive for governance-sensitive investors .