Lucie Harwood
About Lucie Harwood
Lucie Harwood, 49, is Chief Financial Officer of Houston American Energy Corp. (HUSA) since July 1, 2025. She is a UK Chartered Accountant (FCA) with a BA (Hons) in Politics and History from the University of Newcastle-upon-Tyne, and has deep experience across investor relations, risk management, tax and treasury, including roles at Aer Lingus and CFO of Abundia Impact Group prior to joining HUSA . Company context and performance prior to her appointment: HUSA’s FY 2022–FY 2024 revenues declined, and TSR eroded materially through 2024; these trends frame the pay-for-performance backdrop and turnaround mandate for the new leadership team .
| Company Performance Metrics | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Revenues ($USD) | $1,638,841 | $794,027 | $560,180 |
| Net Income (Loss) ($USD millions) | -$0.74 | -$3.21 | -$8.22 |
| Value of $100 Investment (TSR Index) | $140.56 | $25.17 | $9.79 |
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Abundia Impact Group | Chief Financial Officer | 2022–2025 | Led finance through growth/transaction period; specialties in IR, risk, tax, treasury . |
| Aer Lingus | Interim CFO | 2020–2021 | Finance leadership during transition; previously led Insurance, Tax & Treasury (2018–2020) . |
| Aer Lingus | Director of Insurance, Tax & Treasury | 2018–2020 | Built treasury/risk frameworks; managed tax/insurance functions . |
Fixed Compensation
| Component | Terms | Source |
|---|---|---|
| Base Salary | $30,000 per month (effective on appointment) | 8-K Item 5.02 (July 1, 2025) |
| Bonus Opportunity | Eligible for annual bonus when made available by the Board; target/metrics not disclosed | 8-K Item 5.02 (July 1, 2025) |
Performance Compensation
| Incentive Type | Metric(s) | Weighting | Target | Actual/Payout | Vesting | Source |
|---|---|---|---|---|---|---|
| Annual Cash Bonus | Not disclosed | — | — | — | — | 8-K Item 5.02 (July 1, 2025) |
| Equity Awards (RSU/Options) | None disclosed for Harwood to date | — | — | — | — | DEF 14A (no NEO disclosure for 2025 appointments; 2024 NEO table excludes Harwood) |
Notes:
- The 2024 Summary Compensation Table covers prior NEOs only; Ms. Harwood joined in 2025 and had no equity grant disclosed in the appointment 8-K .
Equity Ownership & Alignment
| Item | Detail | Source |
|---|---|---|
| Beneficial Ownership (Harwood) | Not listed with shares in the beneficial ownership table as of Nov 13, 2025 | DEF 14A; table shows dashes for Harwood |
| Shares Outstanding (reference) | 34,632,566 (reflects 1-for-10 reverse split on June 6, 2025) | DEF 14A |
| Hedging/Pledging | Anti-hedging policy prohibits directors/executive officers from hedging (puts, calls, shorts). No explicit pledging policy disclosed | DEF 14A (Anti-Hedging Policy) |
| Stock Ownership Guidelines | Not disclosed | DEF 14A (no guidelines section) |
Implication for selling pressure:
- No vested/unvested awards or grant schedules for Harwood are disclosed to date; thus no scheduled vest-driven Form 4 selling pressure is visible in filings at this time .
Employment Terms
| Term | Detail | Source |
|---|---|---|
| Appointment Effective Date | July 1, 2025 (CFO) | 8-K Item 5.02 |
| Employment Agreement | Not disclosed (no specific contract terms for Harwood) | 8-K Item 5.02; DEF 14A employment arrangements section references other executives; none for Harwood |
| Severance / Change-in-Control | Not disclosed for Harwood | 8-K Item 5.02; DEF 14A (no Harwood-specific severance/CoC) |
| Clawback | Board-adopted Clawback Policy covering performance-based cash/equity upon financial restatement | DEF 14A |
| Incentive Plans | 2008, 2017, 2021, 2025 Equity Incentive Plans exist; 480k, 400k, 500k, and 750k shares reserved, respectively | DEF 14A |
Related Governance & Control Environment (Context)
- Majority ownership: As of Nov 13, 2025, Abundia Financial LLC beneficially owned 80.9% and Bower Family Holdings LLC 9.5% of HUSA common stock, reflecting the July 1, 2025 share exchange and change of control .
- Board/committee oversight: Compensation Committee comprises independent directors Matthew Henninger and Robert Bailey; held one meeting in FY 2024; responsible for executive pay design and approvals .
- Anti-hedging in effect; no retirement plans and no pension/SERP benefits disclosed for executives .
Performance & Track Record
- Executive background: Over 20 years in finance leadership; CFO, Abundia Impact Group (2022–), interim CFO of Aer Lingus (2020–2021), and Director of Insurance, Tax & Treasury at Aer Lingus (2018–2020). FCA; BA (Hons) Newcastle .
- Strategic transaction exposure: Participated in pre-transaction discussions between HUSA and AGIG (as AGIG CFO) on Nov 19, 2024, outlining AGIG’s business, market potential and internal valuation assessments presented to HUSA leadership ahead of the 2025 share exchange .
- Company financial/TSR trend prior to appointment: Continued net losses and significant TSR deterioration through FY 2024 (see performance table above) .
Compensation Structure Analysis
- Mix tilt and guarantees: Current disclosure shows fixed monthly cash plus discretionary bonus eligibility; no equity for Harwood disclosed to date. This implies a near-term shift toward cash-based compensation rather than equity-tied incentives for the CFO role as of appointment .
- Performance metric transparency: No quantitative annual bonus metrics, targets, or weightings disclosed for Harwood; the company’s say-on-pay narrative emphasizes alignment but lacks specific KPI schedules for the CFO at this time .
- Equity plan capacity exists (including 2025 Plan) but new officer equity grants (if any) have not been filed in the proxy for 2025 appointments .
Risk Indicators & Red Flags
- Legal proceedings: The company states no current directors or executive officers (including CFO) have relevant adverse legal proceedings histories in the past ten years (as defined) .
- Hedging: Prohibited under Insider Trading Policy, which reduces misalignment risk from derivatives/shorts .
- Change of control and related party context: Consolidation of control (Abundia Financial) and subsequent debt restructuring with affiliates raises governance concentration considerations; not a direct Harwood compensation term, but a factor in incentive alignment and oversight .
Investment Implications
- Alignment and selling pressure: Harwood has no disclosed beneficial ownership or equity grants to date, minimizing near-term vest-driven selling pressure but also limiting direct equity alignment until equity awards (if any) are granted .
- Pay-for-performance visibility: With monthly cash and board-determined bonus eligibility but no disclosed CFO-specific metrics or targets, investors have limited transparency into performance pay linkages at this stage of the transition .
- Governance concentration: The post-exchange ownership structure (Abundia Financial at ~80.9%) centralizes control; compensation outcomes may primarily reflect majority-holder priorities, with say-on-pay influence from minority shareholders correspondingly reduced .
- Turnaround execution risk: The company’s pre-appointment financial/TSR trajectory underscores the need for rigorous capital allocation and financial oversight; Harwood’s treasury, tax, and risk expertise fits the mandate, but investors should monitor forthcoming filings for bonus metrics, any equity grants, and 2026 proxy disclosures to assess compensation-performance alignment as the renewable strategy scales .
References:
- DEF 14A (Nov 14, 2025): executive officers, ownership table, governance, comp committee, anti-hedging, clawback, equity plans, pay vs performance .
- 8-K (July 1, 2025): CFO appointment and initial compensation terms .
- DEF 14A (Apr 11, 2025): HUSA–AGIG transaction background meeting attendance (Harwood) .
- 10-Ks cited for revenues via S&P Global tool: FY2024 , FY2023 , FY2022 .