Cecil D. Magpuri
About Cecil D. Magpuri
Cecil D. Magpuri, 60, is Chief Executive Officer and a director of Falcon’s Beyond Global, Inc., serving as CEO since the closing of the Business Combination in October 2023; he is co‑founder of Falcon’s Beyond Global, LLC and previously served as President and Chief Creative Officer of Falcon’s Treehouse, later rebranded as Falcon’s Creative Group and expanded to include Falcon’s Digital Media and Falcon’s Licensing . He holds a BA in Applied Arts and Sciences with an emphasis in Environmental Design from San Diego State University and has been recognized as a Blooloop 50 Theme Park Influencer (2018–2020) and received the Asian Heritage Award for Innovation and Technology (2010). He is a Class III director with a term expiring at the 2026 Annual Meeting .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Falcon’s Beyond Global, LLC | Chief Executive Officer; Board of Managers member | Apr 2021 – Oct 2023 | Led the company through public readiness and creation of Falcon’s Beyond Global, Inc. culminating in the Business Combination closing in Oct 2023 . |
| Falcon’s Treehouse / Falcon’s Creative Group | President & Chief Creative Officer | 2000 – pre‑2021 | Co‑founded the business; rebranded and expanded the platform to include digital media and licensing . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Blooloop | Theme Park Influencers Honoree | 2018 – 2020 | Industry recognition among top theme park influencers . |
| Asian Heritage Awards | Awardee (Innovation & Technology) | 2010 | Recognition for innovation and technology contributions . |
Fixed Compensation
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Base Salary ($) | $511,538 | $475,014 | $475,000 |
| Bonus ($) | — | — | — |
| Stock Awards ($) | — | — | — |
| All Other Compensation ($) | $15,234 | $50,776 | $29,860 |
| Total ($) | $526,772 | $525,790 | $504,860 |
Notes: As disclosed for emerging growth/smaller reporting company NEOs; no CEO equity grants or option awards are reported for 2022–2024 in the summary tables .
Performance Compensation
- No CEO annual bonus was paid for 2024; the company historically paid discretionary bonuses to executives other than Messrs. Demerau and Magpuri .
- Outstanding equity awards table shows no RSUs, PSUs, or options outstanding for Mr. Magpuri as of December 31, 2024 .
- The 2023 Equity Incentive Plan provides RSUs to executives with time‑based vesting over five years; this schedule applied to other NEOs, not to Mr. Magpuri as of year‑end 2024 .
| 2023 Plan RSU Vesting Schedule | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 |
|---|---|---|---|---|---|
| % of Grant Vesting (time‑based) | 15% | 17.5% | 20% | 22.5% | 25% |
Equity Ownership & Alignment
| Record Date | Class A Shares | % Class A | Class B Shares | % Class B | % Total Voting Power |
|---|---|---|---|---|---|
| Apr 16, 2024 | — | 0.0% | 33,393,415 | 26.6% | 24.3% |
| Jun 16, 2025 | — | — | 29,066,097 | 34.7% | 24.0% |
- Beneficial ownership is held via CilMar Ventures, LLC Series A, managed by Kaiao Kollective, LLC with Cecil and Marty Magpuri as managers; includes 13,000,000 earnout shares (Falcon’s Opco units and equal Class B shares) held in escrow that vest or are forfeited based on the Class A VWAP over Oct 6, 2024–Oct 6, 2029; CilMar must vote escrowed earnout shares pro‑rata with the broader shareholder vote per Stockholder’s Agreement .
- Company Insider Trading Policy prohibits hedging, holding shares in margin accounts, or pledging company securities as collateral; no pledging is disclosed for Mr. Magpuri .
Employment Terms
| Term | Detail |
|---|---|
| Role start date | CEO since closing of the Business Combination in Oct 2023 . |
| Board term | Class III director; term expires at the 2026 Annual Meeting . |
| Severance / Change‑in‑Control | None of the named executive officers have rights upon termination or change‑in‑control . |
| Clawback | Company maintains a clawback policy compliant with SEC/Nasdaq; recovery of excess incentive comp for the three completed fiscal years preceding a required restatement . |
| Hedging/Pledging | Prohibited for all directors/officers under Insider Trading Policy . |
Board Governance
- Committee membership: Mr. Magpuri is not a member of the Audit, Compensation, or Nominating & Corporate Governance Committees; these are composed solely of independent directors (Beall, Bostwick, Lucadamo) .
- Structure and independence: Executive Chairman (Demerau); CEO (Magpuri) and President (Philips) also serve as directors; the Board regularly meets in executive session without management present; committees also meet in executive session .
- Meetings/attendance: In FY 2024, Board held 7 meetings; Audit 7; Compensation 4; Nominating 2; no director attended fewer than 75% of applicable meetings .
- Director pay: Non‑employee director program effective 2025—$50k cash retainer, $75k annual RSUs, plus chair RSUs ($25k Audit; $15k Compensation; $10k Nominating); executive directors do not receive additional pay for Board service .
Related Party Transactions
| Counterparty | Nature | Key Terms | Status |
|---|---|---|---|
| Penut Productions, LLC (indirectly owned by C.D. Magpuri) | Office leases with Falcon’s Treehouse (subsidiary) | Aggregate payments ~$238,883 per annum; $796,276 paid Jan 1, 2021–Sep 30, 2024; Treehouse responsible for taxes/insurance/maintenance; 2040 lease terminated Mar 19, 2024 . | Active leases expiring 2027 and 2036; one lease terminated 2024; improvement reimbursement promissory notes repaid in full Aug 30, 2022 . |
Compensation Structure Analysis
- Cash‑heavy CEO pay: 2024 CEO compensation comprised entirely of base salary and benefits; no reported stock awards, options, or bonus, indicating limited formal pay‑for‑performance linkage in cash/equity for the CEO; alignment likely driven by significant beneficial ownership via Class B .
- Equity program design for broader executives: RSUs vest over five years on a time‑based schedule; no disclosed performance metrics (e.g., EBITDA/TSR) tied to NEO pay in filings .
- Governance checks: Independent Compensation Committee engages Mercer (US) Inc. for peer benchmarking; committees comprised of independent directors .
Investment Implications
- Alignment and control: Magpuri’s large Class B beneficial ownership (24%–24.3% voting power across 2024–2025) aligns incentives with long‑term enterprise value and provides meaningful governance influence; earnout escrow shares tied to five‑year Class A VWAP conditions could be a catalyst around price thresholds and vesting events through Oct 2029 .
- Low near‑term selling pressure: No outstanding CEO RSUs/options as of Dec 31, 2024 reduces calendar‑driven vest‑sell overhang; monitor any future equity grants and conversion dynamics of Class B interests .
- Governance risk watchlist: Related‑party leases with a Magpuri‑owned entity are modest in dollar terms but remain a potential conflict‑of‑interest flag; mitigants include independent committees and disclosed termination of one lease in 2024; hedging/pledging prohibitions reduce misalignment risks .
- Retention economics: Absence of severance/change‑in‑control protections for NEOs reduces golden‑parachute risk; founder‑level ownership suggests strong retention incentives tied to equity value rather than cash guarantees .