Monica Weakley
eXp World HoldingsAbout Monica Weakley
Monica Weakley (age 56) has served on eXp World Holdings’ Board since June 2022 as the agent-designated director, bringing more than 20 years in residential real estate, coaching, and agent enablement. She joined eXp Realty as an independent contractor agent in July 2017; founded GhostPostr, a real estate referral service, in 2019; and served on eXp’s Agent Advisory Council starting in 2021. She holds a B.S. in Speech/Communications from Denison University (1990) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| eXp Realty, LLC | Independent contractor real estate agent | Jul 2017–present | Agent-centric insights to Board via agent director seat |
| GhostPostr | Founder (real estate referral service) | 2019–present | Agent enablement/marketing perspective |
| eXp Agent Advisory Council | Member | 2021–present | Direct liaison of agent needs/ideas to Board/leadership |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| GhostPostr | Founder | 2019–present | Private company; no public-company directorships disclosed |
Board Governance
- Independence: Not independent under Nasdaq rules; Board determined all except Glenn Sanford and Monica Weakley are independent .
- Committee assignment: Member, Sustainability Committee (4 meetings in 2024) .
- Years of service: Director since June 2022 .
- Attendance: All incumbent directors attended at least 75% of Board and committee meetings; Board met 4 times in 2024 .
- Agent-designated seat: Board reserves one position for a current agent; Weakley re-appointed to this dedicated role in 2024 .
| Committee | 2024 Meetings | Role | Key Responsibilities (excerpt) |
|---|---|---|---|
| Sustainability Committee | 4 | Member | Oversight of strategies, goals, policies related to sustainability, charitable, environmental and social matters |
Fixed Compensation
| Metric | 2024 Amount/Detail | Notes |
|---|---|---|
| Annual cash retainer (agent-director policy) | $50,000 | Increased from $25,000 in June 2024 to reflect role demands; paid monthly |
| Cash fees actually paid (2024) | $39,583 | Reflects mid-year increase and service period |
| Stock option award (grant-date fair value) | $24,961 | Granted June 19, 2024; monthly vest over one year, subject to continued service |
| Expense reimbursement | Standard | Reimbursement for director service-related expenses |
Performance Compensation
- No formulaic performance metrics (e.g., revenue, EBITDA, TSR) tied to Weakley’s director compensation. Agent-director equity grants vest time-based; no performance hurdles were disclosed for director awards .
| Performance Metric | Applies to Director Awards? | Detail |
|---|---|---|
| Revenue growth / EBITDA / TSR hurdles | No | Non-employee/agent-director awards vest time-based; no disclosed performance criteria |
Other Directorships & Interlocks
| Company | Type | Role | Committee Roles | Notes |
|---|---|---|---|---|
| None disclosed | — | — | — | Proxy biography lists no current or prior public-company board service for Weakley |
Expertise & Qualifications
- Real estate operations, agent coaching/training (since 2007), agent enablement; founder/operator experience (GhostPostr) .
- Education: B.S. in Speech/Communications, Denison University (1990) .
- Agent-centric perspective: Dedicated seat ensures agent needs and field insights are reflected in Board deliberations .
Equity Ownership
| Metric | Dec 31, 2024 | Jan 31, 2025 |
|---|---|---|
| Total beneficial ownership (shares) | — | 16,719 |
| Common shares owned directly | — | 7,964 |
| Options exercisable within 60 days | — | 8,755 |
| Unvested stock awards (units) | 1,239 | — |
| Outstanding stock options (total) | 9,814 | — |
| Ownership % of outstanding | — | Less than 1% |
| Hedging/pledging | Prohibited by insider trading policy | Applies to directors; anti-hedging/anti-pledging |
Notes: Beneficial ownership table reflects exercisable options within 60 days of Jan 31, 2025 and direct holdings; Dec 31, 2024 table provides outstanding awards snapshot .
Governance Assessment
-
Strengths
- Field expertise: As agent-director, Weakley supplies practitioner insight into agent retention, productivity, and compensation structures—valuable to eXp’s agent-centric model .
- Engagement: Met minimum attendance threshold; active Sustainability Committee member, aligning Board oversight with environmental/social priorities .
-
Potential Conflicts/Red Flags
- Independence: Board classifies Weakley as non-independent; she occupies the agent-designated seat .
- Related economic ties: In 2024 she received agent-side compensation (e.g., commissions and revenue share) separate from director fees: $360,716 real estate commission; $112,785 revenue share; $19,063 stock awards via Agent Growth Incentive Program; $961 Agent Equity Program discount . While the company reports no related-party transactions over $120,000 for directors in 2024, its policy includes pre-approval guidelines and ordinary-course considerations; Audit Committee oversees such matters . This dual-role dynamic warrants ongoing monitoring for perceived conflicts and vote-recusal practices when agent programs are discussed.
- Control environment: CEO Glenn Sanford (27.19%) and Penny Sanford (17.35%) formed a voting agreement; together they can substantially influence director elections and Board actions—a structural governance consideration for minority shareholders .
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Director Compensation Alignment
- Agent-director pay is modest vs independent directors and reflects service plus agent participation in company-wide programs; option grants vest time-based without performance hurdles, offering limited direct pay-for-performance signals for director compensation .
Director Compensation (Detail)
| Component | 2024 Amount | Vesting/Terms |
|---|---|---|
| Director cash fees | $39,583 | Monthly; reflects mid-year policy change to $50,000 annual |
| Stock option (director award) | $24,961 (fair value) | Granted 6/19/2024; monthly vest over 1 year |
| Agent Growth Incentive stock awards | $19,063 (fair value) | Multiple RSU grants; cliff vest over 3 years, subject to continued service and program conditions |
| Revenue Share Plan (agent) | $112,785 | Ordinary-course program for agents; not tied to director role |
| Real estate commissions (agent) | $360,716 | Ordinary-course commissions; not tied to director role |
| Agent Equity Program discount | $961 | Programmatic discount participation; not tied to director role |
Insider Trading Summary
| Item | Disclosure |
|---|---|
| Section 16(a) compliance | Company reported compliance for FY2024 except late Form 4s by Glenn Sanford and Penny Sanford; no late filings mentioned for Weakley |
| Form 4 activity | Not specifically disclosed for Weakley in proxy; beneficial holdings reported in ownership table |
Related-Party Transactions & Policies
- Policy: Audit Committee review/approval required for related-party transactions >$120,000; certain transaction types deemed pre-approved per standing guidelines; Chair may pre-approve under delegated authority .
- Disclosure: Company states no related-party transactions exceeding $120,000 involving directors/executives/5% holders in 2024 and through proxy date .
- Context: Weakley’s agent-side payments are disclosed comprehensively in director compensation tables, and the company affirms ordinary-course participation in agent programs (Revenue Share, Agent Equity, Agent Growth Incentive) separate from Board service .
Say-on-Pay & Shareholder Feedback (Context)
- 2024 Say-on-Pay approval: ~95% support for NEO program; annual Say-on-Pay cadence recommended . Not specific to director pay but informs compensation governance.
Compensation Committee Analysis (Context)
- Committee composition: All members independent; chaired by Dan Cahir; six meetings in 2024 .
- Director pay benchmarking: Reviewed peers (HOUS, COMP, RDFN, RMAX, REAX, FTHM, DOUG) to affirm program competitiveness; agent-director cash retainer increased to $50,000 in June 2024 .
Summary Signals for Investors
- Alignment: Weakley’s agent experience provides practical insights into eXp’s core growth engine; her modest director pay and broad ordinary-course agent program participation are transparent and standardized .
- Conflict optics: Non-independence plus material agent-side payments merit continued oversight—especially in committee deliberations touching agent incentives; company policies and Audit Committee procedures are in place, but investors should monitor disclosures for any changes, recusal practices, and policy application .
- Control risk: Concentrated voting power via Sanford voting agreement can shape Board composition and governance; consider in governance risk assessments .