Matthew Albence
About Matthew Albence
Matthew T. Albence is Senior Vice President, Client Relations at The GEO Group, Inc., having joined GEO in 2022 after a 26-year federal law enforcement career culminating as Acting Director of U.S. Immigration and Customs Enforcement (ICE). He also served as Deputy Director, Executive Associate Director for Enforcement and Removal Operations, and Assistant Director, ICE, and is a Principal at GrindStone Strategic Consulting, LLC since September 2020. Albence holds a B.S. in Justice from American University and an M.S. in Administration of Justice from Southern Illinois University; his age is disclosed at 55 in GEO’s 2025 proxy executive officer table. Company incentive programs during his tenure include performance-based equity that vests on multi-year Total Shareholder Return (TSR) and Return on Capital Employed (ROCE) metrics, aligning executive pay with shareholder outcomes.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| U.S. Immigration and Customs Enforcement | Acting Director; Deputy Director; Executive Associate Director, Enforcement & Removal Operations; Assistant Director | 2012–2020 | Led ~20,000-professional organization across 400+ offices; oversight of enforcement across hundreds of federal statutes. |
| The GEO Group, Inc. | Senior Vice President, Client Relations | 2022–present | Client relations leadership for GEO’s government partners; senior executive officer of the company. |
| GrindStone Strategic Consulting, LLC | Principal | Sep 2020–present | Boutique consulting focused on national security, law enforcement, business development, management/leadership. |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| GrindStone Strategic Consulting, LLC | Principal | Sep 2020–present | Provided consulting services to GEO prior to Albence joining; no services after joining. |
| Public Company Boards | — | — | No current public company directorships disclosed. |
Fixed Compensation
- Not disclosed for Albence (not a Named Executive Officer in GEO’s Summary Compensation Tables). Executive officer listing confirms his role but individual cash compensation components are not provided in proxy summaries.
Performance Compensation
| Metric | Weighting | Target Definition | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Total Shareholder Return (TSR) vs peer group | Up to 50% of PSU target | 3-year TSR percentile vs defined peer group (Monte Carlo valuation at grant) | Not yet disclosed | Not yet determined (market condition; expense not reversed if unmet) | Performance period Jan 1, 2025–Dec 31, 2027; vests 0–200% of target based on TSR. |
| Return on Capital Employed (ROCE) | Up to 50% of PSU target | 3-year ROCE targets | Not yet disclosed (probable assessment governs recognition) | Not yet determined (subject to Compensation Committee certification) | Performance period Jan 1, 2025–Dec 31, 2027; vests 0–200% of target based on ROCE. |
| Restricted Stock (service-based) | N/A | Service tenure | N/A | N/A | Generally vests ratably over 3–4 years. |
- GEO granted ~1,827,000 restricted shares to employees and executive officers in 2025, including market/performance-based awards; approximately 137,500 PSUs (target) subject to TSR and ROCE performance over 2025–2027.
- Stock options are also used, with Black-Scholes valuation; awards include time- and performance-based options.
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Stock Ownership Guidelines | Executive officers must hold GEO equity equal to at least 3× annual base salary; CEO 6×; directors 3× annual cash retainer. 5-year compliance window from appointment; performance shares count only at threshold until metrics met. |
| Compliance Status | GEO discloses each senior executive has satisfied guidelines or has time remaining; for Albence (appointed 2022), guideline window runs to 2027. |
| Hedging & Pledging | Hedging and short sales prohibited; pledging or margin accounts prohibited unless waiver by CEO or Compensation Chair. Waiver granted to Mr. Evans; no waiver disclosed for Albence. |
| Clawback | NYSE/SEC-compliant clawback adopted Oct 2023 for restatements, covering 3 prior fiscal years of incentive comp for covered executives. |
| Beneficial Ownership | Albence’s individual share count not itemized in 2025 Security Ownership table; NEOs and directors are listed, with an aggregate for officers/directors as a group. |
Employment Terms
- No Albence-specific employment agreement, severance, non-compete, or change-of-control terms are referenced in the 2025 10-Q exhibits, which list other executives’ agreements but not Albence.
- Proxy disclosures do not include Albence-specific severance/change-of-control economics (consistent with non-NEO status).
Company Performance During Albence’s Tenure
Annual performance (oldest → newest):
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Revenues ($USD Millions) | $2,376.7 | $2,413.2 | $2,423.7 |
| EBITDA ($USD Millions) | $516.9* | $478.2* | $438.3* |
Values retrieved from S&P Global.*
Recent quarterly (oldest → newest):
| Metric | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenues ($USD Millions) | $608.3 | $605.7 | $607.2 | $603.1 | $607.7 | $604.6 | $636.2 | $682.3 |
| EBITDA ($USD Millions) | $114.8* | $110.9* | $111.5* | $114.1* | $101.7* | $93.1* | $104.7* | $73.7* |
Values retrieved from S&P Global.*
Context:
- GEO revenue grew modestly from FY 2022 to FY 2024; EBITDA trended lower over the same period, indicating margin pressure through 2024. Quarterly revenue accelerated in 2025, aided by corporate actions including a major facility sale and balance sheet moves; EBITDA volatility reflects one-offs and operating mix.
Additional Signals & Governance
- Related-party transactions: GrindStone Strategic Consulting, LLC received $137,531 for consulting services in 2022 before Albence joined GEO; no services post-joining. Approved by Audit & Finance Committee; Compensation Committee did not review these amounts as they were not paid to executive officers.
- Equity plan capacity: Amended and Restated 2018 Stock Incentive Plan effective May 3, 2024 added a reserve of 12,400,000 shares for awards, supporting ongoing equity-based compensation.
Investment Implications
- Pay-for-performance alignment: Albence’s incentive exposure is via GEO’s broader executive equity programs, with 3-year PSUs tied to TSR vs peer group and ROCE, driving alignment with shareholder returns and capital efficiency; vesting events in late-2027 could create selling pressure windows if awards vest at or above target.
- Ownership/pledging risk: GEO prohibits hedging and pledging absent waivers; no waiver is disclosed for Albence, reducing alignment risk concerns; 3× salary ownership guideline due by 2027 supports skin-in-the-game, though Albence’s exact ownership is not disclosed.
- Retention/contract visibility: Lack of disclosed Albence-specific employment/severance terms limits direct assessment of retention economics; however, multi-year vesting of equity introduces retention hooks typical for GEO executives.
- Company fundamentals: Revenue stability with 2025 acceleration and EBITDA variability suggest macro/contract mix dynamics will influence ROCE/TSR PSU outcomes; investors should monitor Compensation Committee certification of ROCE targets and TSR percentile results across 2025–2027.
Overall, Albence’s role and incentive framework reflect standard GEO executive alignment levers (TSR/ROCE PSUs, ownership guidelines, clawbacks) with limited personal disclosure on cash pay and holdings; trading signals center on PSU vesting timelines (2025–2027), hedging/pledging prohibitions, and evolving company performance trends that will drive PSU outcomes.