Ann Marie Blair
About Ann Marie Blair
Ann Marie Blair is Treasurer and Controller (Principal Financial Officer) of The InterGroup Corporation (INTG), appointed July 6, 2023; she is 37 years old and holds a B.S. in Accounting and an MBA from Cumberland University, with prior experience as a CFO in the advertising technology industry . During her tenure, INTG’s hospitality KPIs improved in FY2025 with hotel occupancy rising to 92% (from 82% in FY2024) and RevPAR to $200 (from $177), while consolidated net loss narrowed to $7.547M from $12.556M in FY2024 . Pay-versus-performance disclosures show company TSR (value of an initial $100 investment) of $0.17 in FY2023 and $0.40 in FY2024, and net losses of $6,719K and $9,797K respectively .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Advertising technology industry (company not specified) | Chief Financial Officer | Prior to July 6, 2023 (not disclosed) | Led finance and controls in a growth/technology setting; brings CFO-level operating and reporting experience to INTG’s PFO role |
Fixed Compensation
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Base Salary ($) | — | 175,000 |
| Cash Bonus ($) | — | 3,000 |
| Other Compensation ($) | — | 0 |
| Total ($) | — | 178,000 |
- Notes: Salary was allocated approximately 50% to INTG and 50% to subsidiary Portsmouth in FY2024 . The proxy discloses no employment contracts with executive officers .
Performance Compensation
| Incentive | Performance metric(s) | Weighting | Target | Actual/Payout | Vesting/Timing |
|---|---|---|---|---|---|
| Annual cash bonus | Not disclosed (discretionary, no non-equity incentive plan reported) | N/A | Not disclosed | $3,000 (FY2024) | Cash (paid for FY period) |
| Equity awards (RSUs/PSUs/Options) | N/A (no awards disclosed for Blair) | N/A | N/A | None | N/A |
Equity Ownership & Alignment
- Outstanding equity: Blair is not listed with any outstanding options or stock awards; the outstanding equity awards table enumerates only other executives (Winfield, Gonzalez) .
- Beneficial ownership: The beneficial ownership table lists named holders (Winfield, Nance, Gonzalez, Love, Murphy); Blair is not itemized, and no >1% or individual line is shown for her in the 2025 proxy table .
- Equity plan capacity: As of June 30, 2024, there were 269,195 options outstanding; the equity plan had no remaining shares available for future issuance, limiting near-term equity grant capacity .
Employment Terms
| Term | Disclosure |
|---|---|
| Start date | July 6, 2023 |
| Current title | Treasurer and Controller (Principal Financial Officer) |
| Employment contract | None disclosed; the company states there are no employment contracts with executive officers |
| Severance | None disclosed (no contracts) |
| Change-of-control | Under the 2010 Incentive Plan, stock options immediately vest upon change in control; Blair has no disclosed equity awards |
| Clawback | Nasdaq-compliant clawback effective Dec 1, 2023; 3-year lookback following an Accounting Restatement; applies to executive officers (including PFO) |
Company Performance Context (during Blair’s tenure)
| Metric | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|
| Net Income (Loss) ($000s) | (6,719) | (9,797) | (7,547) |
| TSR – value of $100 initial investment | $0.17 | $0.40 | — |
Hotel operating KPIs
| Metric | FY 2024 | FY 2025 |
|---|---|---|
| Hotel Revenues ($) | 41,886,000 | 46,363,000 |
| Average Daily Rate ($) | 217 | 218 |
| Average Occupancy (%) | 82% | 92% |
| RevPAR ($) | 177 | 200 |
| Net loss from Hotel operations ($) | (7,154,000) | (4,166,000) |
Additional governance/compensation context
- Compensation Committee: Independent; chaired by William J. Nance; held two meetings in FY2024; did not engage compensation consultants .
- Equity plan terms: 2010 Plan provides for acceleration upon change in control; currently no remaining shares available for issuance (limits fresh equity awards) .
- Say-on-Pay: Advisory vote approved at the May 20, 2024 annual meeting; the Board recommends triennial frequency .
- Section 16(a): Company reports no untimely Form 4 filings for the most recent fiscal year .
- Listing status: INTG regained compliance with Nasdaq MVLS requirement as of Sept 17, 2025 (11 consecutive business days >$35M MVLS) .
Compensation Structure Analysis (alignment signals)
- Pay mix: Blair’s disclosed compensation is predominantly fixed cash (base salary) with a small discretionary cash bonus and no disclosed equity, indicating low direct pay-for-performance linkage in FY2024 .
- Incentive metrics: The proxy discloses no specific operating/financial metrics or targets for Blair’s bonus (no non-equity incentive plan compensation reported) .
- Change-in-control/severance: No individual employment or severance agreement disclosed; plan-level option acceleration exists but Blair has no disclosed equity, limiting CoC windfall exposure .
- Clawback: A robust, exchange-compliant clawback policy applies to executive officers, mitigating incentive risk tied to financial reporting .
Vesting Schedules and Insider Selling Pressure
- Scheduled vesting supply: None apparent for Blair given no disclosed stock or option awards; outstanding equity awards table does not list her .
- Insider filings timeliness: Company reports timely Section 16(a) filings; no additional detail on Blair’s transactions in the proxy .
Risk Indicators & Red Flags (individual-specific)
- Legal/disciplinary: No involvement in legal proceedings requiring disclosure; no family relationships disclosed .
- Pledging/hedging: No specific pledging disclosure for Blair in the proxy (not itemized in ownership table) .
- Related-party transactions: None disclosed relating to Blair; related-party items primarily involve investment management and financing arrangements led by the CEO and Portsmouth .
Investment Implications
- Alignment and dilution: Absence of equity awards for Blair reduces direct alignment with long-term TSR but also implies limited near-term share supply from vesting/sales tied to her compensation; plan capacity constraints (no remaining shares) further limit equity grant-driven dilution near term .
- Retention risk: No employment contract, no severance economics, and limited long-term incentives for a key financial officer (PFO) can elevate retention risk versus peers that use multi-year equity and severance protections .
- Execution/controls: Blair serves as PFO and signed SOX 302/906 certifications on the FY2025 10-K, underscoring her centrality to financial reporting and internal controls; turnover in this role could be operationally disruptive .
- Company backdrop: Improved hotel KPIs and narrowing consolidated losses in FY2025, completed hotel debt refinancing with DSCR/lockbox structures, and regained Nasdaq compliance reduce acute risk but highlight ongoing capital structure and San Francisco market sensitivities that remain key drivers of equity value .