Daniel Feehan
Chairman of the Board at FCFS
Board
About Daniel R. Feehan
Daniel R. Feehan, age 74, is Chairman of the Board of FirstCash Holdings, Inc. and has served in this role since the 2016 merger with Cash America International, Inc. He previously served as Cash America’s CEO (2000–2015), Executive Chairman (Nov 1, 2015–2016), and held earlier roles including President, COO, and CFO beginning in 1990. He holds a BBA in Accounting from Texas A&M University and is a Distinguished Alumnus. Feehan is classified as an employee director (not independent) at FirstCash.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| FirstCash Holdings, Inc. | Chairman of the Board | 2016–present | Board leadership; paired with Lead Independent Director structure |
| Cash America International, Inc. | Executive Chairman | Nov 1, 2015–2016 (merger) | Oversight during transition to merger |
| Cash America International, Inc. | Chief Executive Officer | Feb 2000–Nov 2015 | Led operations; significant pawn/consumer finance experience |
| Cash America International, Inc. | President, COO, CFO | Began 1990; specific dates not fully enumerated | Finance and operations leadership; foundational industry experience |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| AZZ Inc. (NYSE: AZZ) | Chairman of the Board | Current | Public company board leadership; Daniel E. Berce (FCFS director) also serves as AZZ director (interlock) |
| Enova International, Inc. (NYSE: ENVA) | Director | Current | Online lending company spun off from Cash America in 2014 |
Board Governance
- Board size: 8 directors; 6 are independent; Feehan and CEO Rick L. Wessel are employee directors.
- Committee memberships: Audit, Compensation, and Nominating committees consist entirely of independent directors; Feehan is not listed as a member.
- Committee chairs: Audit (Daniel E. Berce), Compensation (James H. Graves), Nominating (Randel G. Owen); Lead Independent Director: Mikel D. Faulkner.
- Board meeting cadence and attendance: 4 board meetings in 2024; each director attended at least 75% of board and applicable committee meetings; independent directors hold executive sessions after regularly scheduled meetings.
- Majority Voting Policy: Uncontested nominees receiving more “WITHHOLD” than “FOR” must tender a resignation for consideration.
- Board leadership structure: Chairman (Feehan) separate from CEO (Wessel); Lead Independent Director roles to balance oversight.
2025 Shareholder Vote Results – Director Elections
| Nominee | For | Withhold | Abstain | Broker Non-Votes |
|---|---|---|---|---|
| Daniel R. Feehan | 35,852,353 | 2,995,952 | 1,243,410 | 1,325,273 |
| Paula K. Garrett | 38,085,289 | 1,107,417 | 899,009 | 1,325,273 |
| Marthea Davis | 38,190,269 | 1,544,402 | 357,044 | 1,325,273 |
Observations: Feehan’s withhold votes are meaningfully higher than the other nominees, a common signal of investor caution around non-independent chairs.
Fixed Compensation
| Item | Terms | Amount/Details |
|---|---|---|
| Employment agreement (effective date; term) | 3-year term ending Dec 31, 2026 | Effective Jan 1, 2024 |
| Base salary | Annual cash salary | $450,000 for 2024 |
| Bonus eligibility | None | Not entitled to bonuses under agreement |
| Equity eligibility | None | Not entitled to equity grants or director compensation under agreement |
| Benefits | Participation in company savings, retirement, and welfare plans | Eligible as standard employee |
| Severance (no change-in-control) | Lump sum equals 1x salary; COBRA subsidy for 18 months | One times current salary + COBRA subsidy |
| Severance (within 12 months after change-in-control) | Lump sum equals 2x salary; health/welfare cash lump sum equals 24 months of full coverage cost | Double-trigger; 2x salary + 24 months health lump sum |
| Non-compete | Duration | 24 months post-termination |
Performance Compensation
| Component | Status | Metrics/Notes |
|---|---|---|
| Annual bonus/APIP | Not applicable | Agreement expressly excludes bonus eligibility |
| Long-term incentive (RSUs/PSUs/options) | Not applicable | Agreement excludes equity awards |
| Clawback policy (company) | Adopted; applies to executive officers | Nasdaq Rule 10D-1 compliant; recovery of incentive comp upon restatement (3-year lookback) |
Other Directorships & Interlocks
| Company | Role | Interlock/Notes |
|---|---|---|
| AZZ Inc. | Chairman | Interlock: FCFS director Daniel E. Berce also AZZ director |
| Enova International, Inc. | Director | Prior affiliation via Cash America spin-off |
Expertise & Qualifications
- Deep leadership in pawn and consumer finance; prior CEO of Cash America; extensive finance and accounting background.
- Public company governance experience including roles at AZZ and Enova; board-level strategic oversight.
- Education: BBA in Accounting (Texas A&M); Distinguished Alumnus recognition.
Equity Ownership
| Holder | Shares Owned | Restricted Shares Vesting ≤60 Days | Ownership % | Notes |
|---|---|---|---|---|
| Daniel R. Feehan | 53,338 | — | <1% (asterisked by company) | Outstanding shares: 44,364,566 as of Apr 17, 2025 |
| Pledging/Hedging | Not disclosed for Feehan | — | — | Company policy prohibits hedging and restricts pledging; permitted pledges disclosed for CEO (13% of value) and CFO (3% of value) only |
| Director ownership guidelines | Not applicable to employee directors | — | — | Company notes employee directors would meet non-employee guideline equivalents (5x cash retainer/salary proxy) |
Governance Assessment
- Alignment: Feehan’s compensation is fixed salary with no bonus or equity, limiting pay-for-performance alignment but reducing incentives for undue risk; his long industry and finance background enhances board oversight.
- Independence: As an employee Chairman, Feehan is not independent; governance mitigations include a Lead Independent Director, fully independent key committees, and executive sessions.
- Engagement: Board and committee attendance at ≥75% indicates acceptable participation; the board met 4 times in 2024.
- Investor signals: 2025 election showed elevated withhold votes for Feehan versus other nominees; say-on-pay support remains strong (2024: 97% approval; 2025 advisory vote For 38,065,293).
- Conflicts/Related-party: No Feehan-specific related-party transactions disclosed; notable transactions involved a former director’s affiliated entity (AFF Services, Inc.) at discounts to market.
- Risk controls: Majority Voting Policy, clawback, anti-hedging/limited pledging, and independent committee composition strengthen governance posture.
RED FLAGS
- Non-independent Chair: Feehan’s employee status and higher withhold votes can signal investor concern about independence; robust Lead Independent Director and independent committees partially mitigate.
- Change-in-control severance: Double-trigger 2x salary plus 24 months health cost lump sum for a non-executive employee director; monitor potential entrenchment optics.
Shareholder Feedback
- 2024 say-on-pay approval: 97% in favor.
- 2025 annual meeting votes: Feehan For 35,852,353; Withhold 2,995,952; Ratification of auditor For 40,181,373; Say-on-pay For 38,065,293.