Ernesto Perez
About Ernesto Perez
Ernesto Perez, age 58, is an independent director of FrontView REIT, Inc. (FVR) since 2024 and serves as Chair of the Audit Committee; he is designated an “audit committee financial expert” and is financially literate under NYSE standards . He is Global Practice Leader of Alvarez & Marsal’s Tax Practice since 2015, advising on tax and financial impacts in corporate finance, M&A structuring, due diligence, and financing across multiple industries; he holds a BBA from the University of Georgia and a JD from Georgia State University . Perez attended 100% of Board and relevant committee meetings in 2024, aligning with the Board’s full attendance and executive session practices for non-employee directors .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Alvarez & Marsal (Tax Practice) | Global Practice Leader | 2015–present | Leads global tax advisory; deep expertise in tax structuring and financial impacts across M&A and corporate finance |
External Roles
- No other public company directorships disclosed for Perez in the proxy .
Board Governance
- Committee assignments: Audit (Chair), Compensation (Member); not on Nominating or Real Estate Investment Committees .
- Independence: Board affirmatively determined Perez is independent under NYSE standards .
- Financial expertise: Audit Committee members, including Perez, are “audit committee financial experts” .
- Attendance: Board held 2 meetings in 2024; committees held 1 each; each director attended 100% of Board and their committee meetings .
- Non-employee director executive sessions are held regularly .
- Risk oversight: Audit Committee oversees major financial risk exposures, legal/regulatory compliance, and internal audit; Compensation Committee monitors risk in compensation policies; Nominating oversees governance risks .
Fixed Compensation
| Component | Amount | Detail |
|---|---|---|
| Annual cash retainer | $50,000 | For non-employee directors |
| Audit Chair fee | $15,000 | Additional annual cash for chair role |
| Compensation Chair fee | $10,000 | Not applicable to Perez (member, not chair) |
| Nominating Chair fee | $10,000 | Not applicable to Perez |
| 2024 cash fees paid | $16,250 | Prorated after IPO close |
- Reimbursement of reasonable out-of-pocket expenses for meeting attendance .
Performance Compensation
| Equity Award | Grant Value | Grant Date/Formula | Vesting | Change-in-Control Treatment |
|---|---|---|---|---|
| Initial RSU (IPO-related) | $90,000 for Perez | Granted effective Oct 4, 2024; shares = grant value ÷ $19.00 IPO price | Vests in full the day before first annual stockholders’ meeting (May 26, 2025) | Unvested director awards automatically vest upon Change in Control, subject to continuous service |
| Annual RSU | $90,000 | Granted on annual meeting date; shares = grant value ÷ closing price on grant date | Vests on earlier of 1-year from grant or day before next annual meeting held ≥50 weeks after prior meeting | Same as above |
- Performance metrics tied to director compensation: none disclosed; director equity is time-based (no TSR, EBITDA, or other performance metrics) .
Other Directorships & Interlocks
| Company | Role | Committee Roles | Notes |
|---|---|---|---|
| — | — | — | No other public company boards disclosed |
- Interlocks: None disclosed involving Perez; Real Estate Investment Committee includes non-independent directors but Perez is not a member .
Expertise & Qualifications
- Education: BBA, University of Georgia; JD, Georgia State University .
- Designations: Audit committee financial expert; financially literate .
- Technical domain: Tax structuring, corporate finance, M&A due diligence, financing structures across consumer, telecom, financial services, real estate, industrials, leisure, services, distribution .
- Governance suitability: Independence, audit chairmanship, and financial expertise strengthen oversight of financial reporting and controls .
Equity Ownership
| Metric | Amount | As-of | Notes |
|---|---|---|---|
| Total beneficial ownership (Common + exchangeable) | 19,539 shares | April 3, 2025 | Includes OP Units redeemable one-for-one into Common Stock |
| Ownership % of Common Stock | <1% | April 3, 2025 | Based on 17,519,863 shares outstanding |
| OP Units included | 14,802 units | April 3, 2025 | Redeemable one-for-one into Common Stock |
| RSUs outstanding (director awards) | 4,737 units | Dec 31, 2024 | Initial grant post-IPO |
| Pledged shares | None | April 3, 2025 | No director/officer pledging disclosed |
Director Compensation (2024)
| Component | Amount ($) |
|---|---|
| Fees Earned or Paid in Cash | 16,250 |
| Stock Awards (Grant-date fair value) | 90,003 |
| Total | 106,253 |
- RSUs outstanding at year-end: 4,737 .
- Initial RSU grant value exception: Perez received $90,000 initial grant vs $45,000 for other independent directors , implying higher equity alignment at onboarding.
Related Party and Compliance Notes
- Section 16(a) compliance: One transaction for Perez was not timely reported on Form 4 for 2024 (company believes all requirements were otherwise timely met) .
- REIT Internalization and OP Units: Proxy table of issuances shows no OP Units allocated to Perez in the Internalization; however, beneficial ownership table includes 14,802 OP Units for Perez as of April 3, 2025 (likely acquired via contribution or affiliate interests) .
- Outsourcing agreement with affiliate (NAAM) for property accounting and HR support; no specific linkage to Perez disclosed .
- Related party transaction oversight: Audit Committee reviews/approves related party transactions per policy .
Governance Assessment
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Strengths:
- Independent director with audit chair role and formal “financial expert” designation enhances financial reporting oversight and investor confidence .
- 100% attendance at Board and committee meetings; full Board attendance supports engagement and effectiveness .
- Equity-based director compensation and meaningful OP Unit exposure suggest alignment with shareholder outcomes; no pledging disclosed .
- Robust governance practices: annual director elections; independent committees; clawback policy for executives; regular executive sessions of non-employee directors .
-
Watch items / potential red flags:
- Section 16(a) Form 4 timeliness issue (one late transaction for Perez) warrants monitoring of insider reporting controls, though immaterial in scope .
- Dual membership on two key committees (Audit Chair and Compensation member) concentrates workload; ensure continued capacity and independence in compensation oversight where pay-risk is monitored .
- OP Unit holdings by an independent director could be scrutinized for potential perceptions of legacy affiliation; no specific conflict disclosed, and independence affirmed by the Board .
-
Compensation structure signals:
- Higher initial RSU grant for Perez ($90k vs $45k for peers) likely reflects onboarding calibration or committee chair responsibilities, increasing long-term equity alignment; director awards are time-based, without performance hurdles .
Overall: Perez’s audit leadership, independence, financial expertise, and attendance underpin board effectiveness; the minor reporting timeliness issue and workload concentration merit routine oversight but do not materially undermine governance quality at present .