David Arndt
About David Arndt
David Arndt (age 40) serves as President of HKHC’s Consumer Products Division. He previously was President and Principal Executive Officer of Scott’s Liquid Gold-Inc. (Dec 2023–Aug 2024) and earlier held CFO, PAO, Treasurer, and Corporate Secretary roles (Oct 2021–Aug 2024). He earned a B.S. in Accounting and a Master of Accountancy from the University of Kansas and is a CPA . Company performance during 2024 included 18% revenue growth, AUM rising ~$3.3B to $9.8B, and cumulative TSR of 169.86 from Aug 1–Dec 31, 2024; net income was ~$92.5M .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Scott’s Liquid Gold-Inc. | President & Principal Executive Officer | Dec 2023–Aug 2024 | Led transition ahead of merger with Horizon Kinetics . |
| Scott’s Liquid Gold-Inc. | CFO, PAO, Treasurer, Corporate Secretary | Oct 2021–Aug 2024 | Finance leadership, public-company CFO responsibilities . |
| Scott’s Liquid Gold-Inc. | VP Finance | Apr 2021–Oct 2021 | Oversaw finance during restructuring phase . |
| Scott’s Liquid Gold-Inc. | Director FP&A & Treasury; Controller; Director Financial Reporting | 2017–Apr 2021 | Built FP&A, reporting, and treasury capabilities . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| EKS&H LLLP (now Plante & Moran, PLLC) | Audit Manager | ~7 years (pre-2017) | Audited manufacturing and consumer-products clients; established technical accounting credentials . |
Fixed Compensation
| Metric | 2021 | 2023 | 2024 |
|---|---|---|---|
| Base Salary ($) | $205,000 | $205,000 (employment agreement effective Mar 31, 2023) | $205,000 expected if remaining in President/PEO & CFO roles post-Mar 31, 2024 . |
| Target Bonus ($) | $15,000 (based on FY2021 performance) | Not disclosed | Not disclosed |
| Contract Term & Renewal | 1-year initial term; auto-renew 120-day periods; 90 days’ non-renewal notice | 12-month term (effective Mar 31, 2023) | “Expected” comp continuity noted by Board (not a formal renewal) |
HKHC’s 2024 proxy states the Company does not currently intend to pay executive officers in equity; bonuses are discretionary and tied to an overall pool (not specific to Arndt, who was not an HKHC NEO in 2024) .
Performance Compensation
| Award Type | Grant Date | Quantity | Strike/Grant Value | Vesting | Change-of-Control Treatment | Expiration |
|---|---|---|---|---|---|---|
| Stock Options (SLGD) | May 9, 2017 | 7,536 (exercisable) | $1.80 | Vested 1/48 per month; fully vested by May 9, 2021 | If terminated without cause or for good reason within 18 months post-CoC, options fully vest/immediately exercisable | Jun 9, 2027 |
| RSUs (SLGD) | Nov 9, 2021 | 5,833 unvested at 12/31/2023 | Not disclosed | Vest one-third annually on grant-date anniversaries | If terminated without cause or for good reason within 18 months post-CoC, RSUs fully vest | N/A |
| Stock Options (HKHC post-merger balance) | Prior SLGD grant (converted) | 377 options included in beneficial ownership | Not disclosed | Prior SLGD vesting schedule (historical) | Not disclosed in HKHC proxy | May 8, 2027 |
Notes: HKHC’s proxy footnote shows 377 legacy options remaining for Arndt post-merger with expiry May 8, 2027 , while SLGD’s 2023 10-K reported 7,536 options at $1.80 expiring Jun 9, 2027 and 5,833 RSUs unvested at 12/31/2023 . Differences reflect merger-related conversions.
Equity Ownership & Alignment
| Metric | As of/Date | Value |
|---|---|---|
| HKHC Shares Outstanding | Apr 21, 2025 | 18,635,321 . |
| Arndt Beneficial Ownership (HKHC common) | Apr 21, 2025 | 1,479 shares; less than 1% . |
| Options included in beneficial ownership | Apr 21, 2025 | 377 legacy options from SLGD, expire May 8, 2027 . |
| Form 4 holdings (confirmation) | Oct 15, 2025 | 1,479 shares directly owned per filing . |
| RSUs outstanding (SLGD historical) | Dec 31, 2023 | 5,833 unvested RSUs . |
| Pledging/Hedging | 2025 DEF 14A | Not disclosed in HKHC proxy; ownership table does not note pledges . |
| Ownership Guidelines (Executive) | 2025 DEF 14A | Not disclosed for executives; HKHC indicates cash-focused comp and no current equity awards . |
Employment Terms
- Employment Agreement (SLGD): Initial 1-year term; auto-renew for 120-day periods; either party may provide 90 days’ notice of non-renewal .
- Severance: Following the initial term, if terminated after a change of control, 3 months of severance (CFO agreement) .
- Change-of-Control Equity Treatment: If terminated without cause or for good reason within 18 months post-CoC, legacy options and RSUs fully vest (SLGD plans) .
- HKHC Clawback Policy: Company maintains clawback policy for incentives upon financial restatements due to misconduct or fraud (Compensation Committee risk-mitigation) .
- Section 16 Status Change: On Oct 15, 2025, Arndt filed an “Exit Form 4” indicating he is no longer subject to Section 16 reporting .
Investment Implications
- Alignment: Arndt’s HKHC equity stake is de minimis (1,479 shares; <1%), with legacy options expiring in 2027—pay outcomes are largely cash-based, which reduces equity alignment unless future equity grants are introduced .
- Retention Risk: Severance tied to post-CoC termination is modest (3 months), and his Oct 15, 2025 Exit Form 4 suggests a role/status transition—investors should monitor leadership continuity in Consumer Products and any backfill/organizational changes .
- Selling Pressure: No recent insider sales disclosed for Arndt; Form 4 reflected holdings rather than disposals, tempering near-term selling pressure concerns .
- Execution Track Record: He led finance and later the CEO role at Scott’s through HKHC’s Aug 1, 2024 merger; HKHC’s 2024 performance was strong (18% revenue growth; AUM +51% to $9.8B; TSR +69.86 on $100 basis), but those metrics are enterprise-wide rather than directly tied to his divisional KPIs—investors should seek divisional performance scorecards before tying compensation to value creation .
Additional context: HKHC’s Compensation Committee reported discretionary cash bonuses and no current equity awards or employment agreements for HKHC NEOs, indicating a broader cash-oriented incentive philosophy at the consolidated company .