Christy Albeck
About Christy Albeck
Christy Albeck is the Chief Financial Officer (Principal Financial and Accounting Officer) of IB Acquisition Corp. (IBAC), appointed on January 22, 2024; she is 70 years old and holds a B.S. in Accounting from the University of Houston . She has 30+ years of experience as an outsourced CFO, founded Albeck Financial Services (1987–2022), and is currently a Partner at Calabrese Consulting (since March 2022), with deep expertise in SEC reporting and financial due diligence for over 125 SPACs . IBAC is a SPAC still seeking a business combination (business combination not considered probable as of June 30, 2025 and extension proposal to March 28, 2026), so traditional operating performance metrics (TSR, revenue growth, EBITDA growth) are not applicable prior to de‑SPAC .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Albeck Financial Services, Inc. | Founder & CEO | Nov 1987 – Mar 2022 | Led pre‑audit work and SEC reporting for international/domestic public companies; provided consulting/advisory services for over 125 SPACs . |
| Calabrese Consulting | Partner | Mar 2022 – Present | Financial accounting and advisory services; continuation of outsourced CFO and SEC reporting expertise . |
External Roles
| Organization | Position | Years | Notes |
|---|---|---|---|
| Albeck Financial Services, Inc. | Founder & CEO | Nov 1987 – Mar 2022 | Pre‑existing fiduciary obligations referenced in IBAC filings . |
| Calabrese Consulting | Partner | Mar 2022 – Present | Pre‑existing fiduciary obligations referenced in IBAC filings . |
Fixed Compensation
IBAC compensates the CFO via an Administrative Services Agreement at a fixed monthly fee; no base salary or cash bonus is disclosed. The fee commences at IPO closing and ceases upon completion of a business combination or liquidation .
| Item | Terms | Start | End Conditions |
|---|---|---|---|
| Administrative Services Agreement (CFO) | $5,000 per month | Commences at IPO closing (March 28, 2024) | Ceases upon business combination or liquidation |
Administrative services fee expense incurred:
| Metric (USD) | 3M Ended Jun 30, 2024 | 9M Ended Jun 30, 2024 | 3M Ended Jun 30, 2025 | 9M Ended Jun 30, 2025 |
|---|---|---|---|---|
| CFO Administrative Services Fees | $15,000 | $30,000 | $15,000 | $45,000 |
Notes:
- As of June 30, 2025, $15,000 recorded as accrued expenses .
- Prior CFO resigned on January 22, 2024; new CFO appointed same date; agreement dated January 24, 2024 .
Performance Compensation
No annual cash bonus, RSUs/PSUs, or option awards are disclosed for the CFO. Equity incentives are tied to sponsor founder shares subject to a performance condition (consummation of a business combination); stock‑based compensation related to founder shares is recognized only when a business combination is considered probable (i.e., upon consummation) .
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Founder Share‑linked equity (via sponsor interest) | Not disclosed | Business Combination | Not achieved as of 6/30/25 (not probable) | Not applicable pre‑combination | Vests/recognized upon consummation of business combination |
Additional founder share valuation context (directors/director nominees, not necessarily CFO):
- 425,000 shares granted through March 28, 2024, fair value ≈ $1,734,000 ($4.08/share); additional 50,000 shares granted Sept 11, 2024, fair value ≈ $499,000 ($9.98/share); all subject to performance condition .
Equity Ownership & Alignment
As of the record date for the 2025 special meeting, the proxy reports no direct beneficial ownership for the CFO; however, officers and directors are members of the sponsor and indirectly hold interests entitling them to founder shares subject to performance conditions .
| Holder | Shares Beneficially Owned | % of Outstanding | Notes |
|---|---|---|---|
| Christy Albeck (CFO) | — | — | Indirect sponsor interest of 2.31% representing the right to receive 75,000 founder shares; officers/directors disclaim beneficial ownership except to pecuniary interest . |
Context:
- Shares outstanding: 15,749,090 .
- Founder shares vest/are recognized only upon business combination; no stock‑based compensation recognized as of June 30, 2025 .
Employment Terms
| Term | Detail |
|---|---|
| Employment Start Date | January 22, 2024 (new CFO appointed) . |
| Agreement | Administrative Services Agreement dated January 24, 2024 . |
| Compensation | $5,000 per month; begins at IPO closing (March 28, 2024) . |
| Cessation Triggers | Ceases upon completion of a business combination or liquidation . |
| Role | Chief Financial Officer; Principal Financial and Accounting Officer; executed SOX 302/906 certifications in Q1–Q3 2025 . |
| Other Obligations | Pre‑existing fiduciary/contractual obligations to Albeck Financial Services and Calabrese Consulting . |
Investment Implications
- Pay structure is lean and transaction‑focused: CFO cash compensation is a fixed $5,000/month administrative fee with no disclosed salary or bonus; compensation ceases on business combination or liquidation, reinforcing cost discipline but limiting retention incentives if the SPAC timeline extends .
- Equity alignment exists via sponsor founder share rights: Albeck’s 2.31% sponsor interest (right to 75,000 founder shares) ties upside to successful de‑SPAC; vesting/recognition occurs upon business combination (performance condition), implying potential future supply considerations when founder shares become effective post‑closing .
- Timeline risk remains elevated: IBAC sought an extension of its business combination deadline to March 28, 2026, and determined a combination was not probable as of June 30, 2025; sustained delays could impact executive engagement and increase liquidation risk, terminating monthly fees and equity incentive realization .
- Governance and conflicts: No direct beneficial ownership reported for the CFO reduces immediate pledging/hedging concerns; pre‑existing fiduciary obligations to outside entities may necessitate careful conflict management in sourcing and evaluating targets .
- Monitoring signals: Watch for 8‑K announcements of a definitive merger agreement and any lock‑up/vesting terms referenced in sponsor/insider letter agreements; founder share‑linked expense recognition upon “probable” status is a key milestone indicating deal confidence .