John Saunders
About John Saunders
John T. Saunders, 43, is ETHZilla’s Senior Vice President and Chief Financial Officer, effective the first business day after the company files its Q3 2025 Form 10-Q; he joined ETHZilla in August 2025 as Vice President of Finance and was appointed CFO on November 12, 2025 . He holds a Master’s in Professional Accountancy from Montana State University and a B.A. in Economics from Bates College, and began his career as a CPA with Rudd & Co. . Recent company context: ETHZ reported Q3 2025 revenue of $4.1 million and Adjusted EBITDA of $8.5 million, reflecting the early stages of its DeFi strategy; no TSR or Saunders-specific performance metrics were disclosed in the filings reviewed .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Bridger Aerospace Group Holdings, Inc. (NASDAQ: BAER) | SVP, Finance, Capital Markets | May 2025 – Jun 2025 | Led strategic financial initiatives during a key growth phase . |
| ElementCompany, LLC (family office) | Chief Financial Officer | Oct 2021 – May 2024 | Oversaw finance across tech and agriculture investments . |
| Ascent Vision Technologies, LLC | Controller; then Chief Financial Officer | Sep 2018 – Jun 2019; Jun 2019 – Sep 2021 | Supported expansion into defense markets; managed sale to CACI (2020) and led integration into CACI . |
| Rudd & Co. | Certified Public Accountant | Early career | Public accounting foundation (CPA) . |
Fixed Compensation
| Effective date | Title | Base salary (USD/year) |
|---|---|---|
| Aug 1, 2025 | Vice President, Finance | $350,000 . |
| Nov 12, 2025 (appointment date) | Chief Financial Officer | $450,000 . |
Saunders’ 8-K indicates no material compensatory arrangements beyond the Offer Letter at the time of appointment .
Performance Compensation
- No target bonus %, payout formula, or performance metric weighting (e.g., revenue growth, EBITDA, TSR) were disclosed for Saunders in the reviewed 8-K/press materials; Item 5.02 states he is not party to any material plan, contract or arrangement except the Offer Letter at appointment .
Equity Awards (as disclosed)
| Award type | Stated grant size | Grant date | Vesting | Notes |
|---|---|---|---|---|
| RSUs | $1,000,000 | Not specified | Two-year vest schedule | To be granted once the Management Incentive Plan is increased and 10b5‑1 windows or net‑vesting schedules are established; subject to Board approval . |
- No option awards, strike prices, or PSU frameworks for Saunders were disclosed in the reviewed filings .
Equity Ownership & Alignment
- Beneficial ownership: ETHZ’s special meeting proxy includes a “Security Ownership of Management and Certain Beneficial Owners” table; Saunders is not among the named individuals listed (directors, named executive officers, and >5% holders) as of the Oct 17, 2025 record date .
- Hedging/pledging: The Offer Letter required confirmation of the company’s Insider Trading Policy and Policy on Control and Disclosure of Confidential Information; no pledging by Saunders is disclosed in the reviewed filings .
- Stock ownership guidelines and compliance: Not disclosed in the reviewed documents .
Employment Terms
- Offer Letter: Dated August 1, 2025, appointing Saunders as VP Finance at $350,000 per year; Board may adjust compensation; indicates initial $1mm RSU intent with a two‑year vest once plan capacity and trading/settlement mechanics are in place .
- Appointment to CFO: Board appointed Saunders CFO and Secretary on November 12, 2025; effectiveness is the business day following the Q3 2025 10-Q filing .
- At‑will/termination: The Offer Letter states Saunders is free to end the relationship at any time and the Board may remove an officer at any time in accordance with law and charter documents (at‑will framework) .
- Indemnification: Company plans to enter into its standard Indemnification Agreement with Saunders (consistent with other officers) .
- Change‑in‑control/termination: Offer Letter notes the company’s option plan outlines change‑in‑control provisions and termination rights related to option grants; specific severance multiples or triggers are not disclosed for Saunders .
- Related parties/family relationships: Item 5.02 states Saunders is not a participant in any related party transaction requiring disclosure under Item 404(a) and has no family relationships with directors or executive officers .
Investment Implications
- Pay structure and retention: Cash base increased to $450k upon CFO appointment; an intended $1mm RSU with two‑year vesting (once plan capacity and trading windows are set) aligns retention with near‑term execution milestones and could create incremental selling supply upon vesting once granted .
- Limited disclosed performance linkage: No disclosed bonus targets, PSU frameworks, or metric weightings yet—limiting visibility into pay‑for‑performance alignment at this stage of tenure .
- Governance/controls: Standard indemnification and insider trading policy compliance are in place; no disclosed related‑party issues or pledging by Saunders in reviewed filings, which reduces governance red flags specific to the executive .
- Execution backdrop: Saunders steps into the CFO role amid significant balance‑sheet activity (large convertible notes, collateral arrangements, and ETH/deployment strategy) that will require rigorous treasury and capital markets execution; these terms introduce dilution and refinancing sensitivities for equity holders independent of Saunders’ compensation .
Note: No Form 4 insider transaction history, stock ownership guidelines, severance multiples, or clawback terms specific to Saunders were disclosed in the reviewed 8‑K, special meeting proxy, or press materials; future annual proxy statements should provide comprehensive compensation, ownership, and policy detail .