Daniel Ragsdale
About Daniel Ragsdale
Daniel H. Ragsdale, age 56, is Senior Vice President, Contract Administration and Compliance at The GEO Group, effective January 1, 2025, after joining GEO in July 2017 as Executive Vice President for Contract Compliance; he previously served at U.S. Immigration and Customs Enforcement (ICE) from 1996–2017, including Deputy Director (COO) overseeing ~20,000 employees (2012–2017) and Executive Associate Director for Management and Administration (2010–2012). He holds a BA in English from Franklin & Marshall College and a JD from Fordham University School of Law . Company performance context: in 2024, GEO’s total shareholder return (TSR) reached 168 (value of a $100 investment), peer group TSR was 102, net income attributable to GEO was $31.966 million and adjusted net income was $100.974 million .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| The GEO Group, Inc. | Senior Vice President, Contract Administration and Compliance | 2025–present | Leads contract administration and compliance; supports ICE Processing Centers operations |
| The GEO Group, Inc. | Executive Vice President, Contract Compliance | 2017–2024 | Oversight of contract compliance; alignment with ICE standards and facility operations |
| U.S. Immigration and Customs Enforcement (ICE) | Deputy Director (Chief Operating Officer) | 2012–2017 | Led ~20,000 employees, including ~7,000 criminal investigators and ~6,000 ERO officers; day-to-day operational leadership |
| U.S. Immigration and Customs Enforcement (ICE) | Executive Associate Director, Management & Administration | 2010–2012 | Chief management officer; responsible for business operations and annual operating budget |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| U.S. Attorney’s Office, District of Arizona | Special Assistant U.S. Attorney (Criminal Division) | Not disclosed | Prosecutorial experience; legal and compliance expertise applied to enforcement operations |
Fixed Compensation
| Element | Parameter | Notes |
|---|---|---|
| Target Annual Cash Incentive (Senior Vice Presidents) | 75% of base salary | Under GEO’s Senior Management Performance Award Plan; multiplier based on corporate revenue and Adjusted EBITDA |
Performance Compensation
Annual Cash Incentive Structure (Corporate)
| Metric | Weighting | FY 2024 Target ($MM) | FY 2024 Actual ($MM) | Actual as % of Target | Payout as % of Target |
|---|---|---|---|---|---|
| Adjusted EBITDA | 65% | 483.9 | 463.5 | 95.8% | 91.6% |
| Adjusted Revenue | 35% | 2,425.0 | 2,426.3 | 100.1% | 100.3% |
| Weighted Corporate Payout Factor | — | — | — | — | 94.7% |
- Plan mechanics: Senior Management Performance Award Plan sets annual targets for budgeted revenue and Adjusted EBITDA; Adjusted EBITDA is weighted 65%, revenue 35%, and the same corporate multiplier applies across plan participants; Adjusted EBITDA definition aligned to GEO reporting adjustments .
Long-Term Equity Incentives
| LTIP Component | Vesting | Metrics | Weighting | Max Payout |
|---|---|---|---|---|
| 2024 NEO awards (policy baseline) | 3-year performance period, vest by Mar 15, 2027 | Relative TSR, ROCE | 100% performance-based for NEOs (Dr. Zoley excepted) | 200% (pre-2025 policy) |
| 2025 senior management LTIP (modified) | 50% time-based RS (3-year vest); 50% performance-based RS | 50% TSR, 50% ROCE (performance component) | 50% time-based / 50% performance | 180% cap (reduced from 200%) |
Known Vesting Events (Daniel Ragsdale)
| Date | Award Type | Shares | Notes |
|---|---|---|---|
| Mar 3, 2025 | Restricted Stock | 12,604 | Form 4 indicates adjustment reflecting vesting on Mar 3, 2025 |
Equity Ownership & Alignment
- Executive stock ownership guidelines: CEO 6x base salary; other executive officers (including Senior Vice Presidents) 3x base salary; clawback and anti-hedging policies in place; double-trigger change-in-control arrangements; no single-trigger equity acceleration; no excise tax gross-ups; no option repricing without shareholder approval .
- Section 16 filings: Ragsdale filed Form 3 (initial statement of beneficial ownership) dated Jan 1, 2025 and filed Jan 13, 2025; subsequent Form 4 filed Mar 5, 2025 reflects vesting of 12,604 restricted shares on Mar 3, 2025 .
- Pledging and hedging: Company policy prohibits hedging; pledging not indicated for executives; no pledging disclosures for Ragsdale found in proxy .
Employment Terms
- Individual contract: No executive employment agreement specific to Daniel Ragsdale is disclosed in the latest proxy; GEO describes agreements for other executives (e.g., CEO, CFO, EVP) featuring severance and non-compete provisions .
- Change-in-control economics: Current employment agreements for named executive officers do not provide CiC payments; double-trigger applies—payments only if terminated without cause or for good reason in connection with a CiC .
- Non-compete scope: Agreements for other executives include non-competes ranging from two years (e.g., EVP Finance/Treasurer) to three years (e.g., CEO) post-termination, with confidentiality and work product provisions .
Performance & Track Record
- Operational leadership: Ragsdale oversees contract administration and compliance supporting ICE Processing Centers; company materials highlight GEO’s support services (security, maintenance, food, healthcare) and transportation (GTI) with 700 licensed officers, 675 vehicles, and ~2,300 flight missions in 2024 .
- Company outcomes: In 2024, GEO’s pay-for-performance multiplier was 94.7% based on corporate metrics; TSR outperformed peers (168 vs 102), with net income of $31.966 million and adjusted net income of $100.974 million .
Compensation Peer Group & Governance
- Compensation consultant: Pay Governance LLC serves as independent consultant; services include peer group analysis, TSR performance calculations, accounting fair value estimates, and trend reviews; compensation practices include ownership requirements, double-trigger CiC, clawbacks, anti-hedging, and no repricing .
- Peer group framing: GEO benchmarks against security and alarm services, commercial services and supplies, and healthcare facilities with similar revenues and market cap .
Investment Implications
- Alignment: Senior Vice President target bonus of 75% of salary and corporate multiplier tied to revenue and Adjusted EBITDA strengthen pay-performance linkage at Ragsdale’s level .
- Vesting cadence and potential flow: A vesting event on Mar 3, 2025 (12,604 RS) is a watchpoint for potential liquidity around window openings; continued performance-based vesting extends to Mar 15, 2027 under prior-cycle grants .
- Retention and risk: No individual employment agreement disclosed for Ragsdale; company-wide guardrails—ownership requirements, clawbacks, anti-hedging, double-trigger CiC—limit misalignment and windfall risk while providing standardized governance for senior management .
- Execution context: Ragsdale’s portfolio spans contract administration and compliance for ICE centers; corporate strategy includes expanded ICE services and reorganization initiatives (Dec 2024), suggesting continued operational emphasis where his remit is central .