Richard Christensen
About Richard Christensen
Richard B. Christensen, CPA, is Chief Financial Officer (Principal Financial/Accounting Officer) of Golden Matrix Group (GMGI), appointed March 2025 after a 25+ year finance career spanning TrueBlue (SVP/Chief Accounting Officer, Treasurer), Itron, and Deloitte; he holds a Wharton MBA, a BBA from Idaho State, and is a licensed CPA (Idaho) . He is 49 and serves as GMGI’s principal financial officer, with an employment agreement centered on operational growth targets; company-level context shows 2024 net loss of $1.41M and cumulative TSR value of $30.84 (from a $100 baseline), framing the turnaround/growth targets embedded in his 2025 pay design .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| TrueBlue, Inc. | SVP & Chief Accounting Officer; Treasurer; SVP Risk, Treasury & Corp Dev | Dec 2015–Feb 2025; CAO Dec 2020–Aug 2024; Treasurer Feb 2022–Feb 2025; SVP Risk/Treasury/CD Aug 2024–Feb 2025 | Led accounting/SEC reporting; treasury; M&A/automation; oversaw multiple acquisitions . |
| Itron, Inc. | Finance/Accounting/Operations/BD roles | Approximately 10 years | Global finance operations and strategic restructuring/M&A support . |
| Deloitte & Touche LLP | Audit Manager | Approximately 5 years | Assurance and technical accounting foundation . |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| — | — | — | No other public company directorships or external roles disclosed in bio . |
Fixed Compensation
| Metric | 2025 | Notes |
|---|---|---|
| Base salary | $330,000 | Set in Executive Employment Agreement effective Mar 1, 2025 (CFO role effective day after 2024 10-K filing) . |
| Target bonus % | Not disclosed | Discretionary cash/equity bonuses may be awarded by Board/Comp Committee . |
| Actual bonus paid | Not disclosed | No disclosed 2025 payouts yet . |
Performance Compensation
| Component | Metric | Targets | Payout mechanics | Vesting/Measurement |
|---|---|---|---|---|
| Sign-on RSUs (75,000) | Revenue | 2025 Revenue ≥ 1.1× 2024; 1.2× 2024 | 11,250 RSUs at 1.1×; 26,250 RSUs at 1.2× | Determined on filing date of 2025 Form 10-K; unearned tranches forfeit . |
| Sign-on RSUs (75,000) | AEBITDA | 2025 AEBITDA ≥ 1.1× 2024; 1.2× 2024 | 11,250 RSUs at 1.1×; 26,250 RSUs at 1.2× | Determined on filing date of 2025 Form 10-K; unearned tranches forfeit . |
| Contingent cash ($75,000) | Revenue | 2025 Revenue ≥ 1.1× 2024; 1.2× 2024 | $11,250 at 1.1×; $26,250 at 1.2× | Same determination timing as above . |
| Contingent cash ($75,000) | AEBITDA | 2025 AEBITDA ≥ 1.1× 2024; 1.2× 2024 | $11,250 at 1.1×; $26,250 at 1.2× | Same determination timing as above . |
- If only one target (Revenue or AEBITDA) is met at a given threshold, only the corresponding tranche vests; measurement uses audited financials (2025 10-K) .
- Discretionary bonus opportunities (cash/equity) may be granted but are not formulaic .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total beneficial ownership | 95,000 common shares; under 1% of common outstanding; excludes unvested RSUs . |
| Unvested awards | 75,000 RSUs (sign-on), 2025 performance-vested per schedule above . |
| Options (exercisable/unexercisable) | None disclosed for Christensen; company indicated no exec options outstanding at 12/31/2024; his grant is RSUs . |
| Ownership policy | Company has no equity ownership guideline policy . |
| Hedging/pledging | Derivative hedges/shorts prohibited; pledging/margin generally prohibited unless clear repayment capacity; Rule 10b5-1 plans encouraged . |
Employment Terms
| Term | Detail |
|---|---|
| Appointment/effective date | Appointed Mar 5, 2025; CFO role effective the day after filing the 2024 Form 10-K (Mar 25, 2025) . |
| Agreement type/term | Executive Employment Agreement; continues until terminated by either party . |
| Severance (no cause/good reason) | If termination prior to Mar 1, 2026: 3 months’ base salary; if on/after Mar 1, 2026: 6 months’ base salary; in both cases, all unvested equity awards vest upon termination . |
| Termination for cause or resignation w/o good reason | Salary through termination; unvested equity forfeiture per plan/award terms . |
| Change-of-control economics | No separate CoC multiple disclosed for Christensen; agreement includes Section 280G safe harbor cutback mechanism . |
| Non-compete / non-solicit | 12-month non-compete in defined “Restricted Area” and 12-month non-solicitation of employees/customers post-termination . |
| Clawback | Subject to company’s clawback policy adopted Oct 2, 2023 and agreement’s clawback clause . |
| Indemnification & arbitration | Standard indemnification agreement; binding arbitration with required pre-mediation . |
Investment Implications
- Pay-for-performance alignment: 100% of his sign-on equity and cash incentives are tied to 2025 growth in Revenue and AEBITDA versus 2024, with four discrete tranches (15%/35% RSU and cash at 1.1×/1.2× for each metric). This is tightly coupled to operational execution and 2025 audited outcomes, aligning near-term incentives with growth delivery .
- Retention and overhang: Severance is modest (3–6 months) but includes full vesting of unvested equity upon no-cause/good reason termination, which is retention-friendly yet could accelerate share issuance on separation; potential RSU vesting around the 2025 10-K filing could create a modest supply event (~75k shares) versus the float .
- Ownership alignment: Current beneficial ownership is small (<1%) and the company lacks formal ownership guidelines; however, anti-hedging/pledging policies and 10b5-1 plan encouragement support alignment and orderly trading practices .
- Execution risk and track record: His background in large-scale accounting, treasury, M&A, and SEC reporting at TrueBlue/Itron is additive for integration and controls post-MeridianBet acquisition; company performance context (net loss in 2024 and depressed TSR) raises the bar for 2025 growth deliverables embedded in his award design .