Peter J. Biere
IZEA WorldwideAbout Peter J. Biere
Peter J. Biere (age 69) has served as IZEA’s Chief Financial Officer since April 1, 2021, overseeing finance, accounting, and broader fiscal strategy; he holds B.S. and M.S. degrees in Accounting from the University of Iowa and is a CPA (TX, inactive) . Prior roles include CFO positions at BSQUARE (2017–2019), DreamBox Learning (2012–2016), Lumera (2004–2009), and Zones.com (1993–1999), where he co-led the IPO and helped grow revenue from $70 million to $500 million . Company pay-versus-performance data shows cumulative TSR of $51 in 2024 (from a $100 fixed investment) and net losses of $(18.9)M in 2024, $(7.3)M in 2023, and $(4.5)M in 2022, contextualizing incentive outcomes during his tenure .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| BSQUARE (NASDAQ: BSQR) | Chief Financial Officer | 2017–2019 | Led finance for public tech provider of intelligent devices/software |
| DreamBox Learning | Chief Financial Officer | 2012–2016 | CFO for venture-backed EdTech SaaS provider |
| Lumera | Chief Financial Officer | 2004–2009 | CFO for public R&D-stage nanotech developer of electro-optic modulators |
| Zones.com | Chief Financial Officer | 1993–1999 | Co-led IPO; revenue grew from $70M to $500M |
| NextLevel | Principal (executive advisory) | 2020–2021 | Interim/project advisory services prior to IZEA appointment |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Not disclosed | — | — | No public company directorships disclosed for Biere |
Fixed Compensation
Multi-year compensation reported for Biere:
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Base Salary ($) | 250,000 | 317,308 | 320,000 |
| Stock Awards ($) | 78,597 | 157,125 | 236,800 |
| Non-Equity Incentive Plan Compensation ($) | 39,135 | 55,081 | 108,143 |
| Total ($) | 367,732 | 529,514 | 664,943 |
Comp plan parameters (current agreement effective Sept 1, 2023):
- Base salary: $320,000; annual bonus up to 60% of base salary, paid in five installments and contingent on specified performance goals .
- Long-term incentive: $236,800 in RSUs via four awards, each vesting over three years (one-third at 12 months, then quarterly) .
Performance Compensation
Short-term incentive (STIP) design and outcomes:
| Metric | Weighting | Target | Actual (Cash) | Payout Range | Notes |
|---|---|---|---|---|---|
| Revenue | 50% | 60% of salary (2024 target bonus basis) | $108,143 (total cash bonuses paid in 2024) | 50%–150% of target (threshold to max) | STIP metrics set annually; payout tied to performance bands |
| Adjusted EBITDA | 50% | 60% of salary (2024 target bonus basis) | Included in above cash outcome | 50%–150% of target (threshold to max) | Equal weighting with Revenue |
Long-term incentive (RSUs) – grant detail and vesting:
| Grant Date | Units | Initial Fair Value ($) | Vesting Schedule |
|---|---|---|---|
| Jan 31, 2024 | 29,453 | 59,200 | 1/3 cliff at 12 months; then quarterly over 24 months |
| Apr 30, 2024 | 21,295 | 59,200 | 1/3 cliff at 12 months; then quarterly over 24 months |
| Jul 31, 2024 | 25,739 | 59,200 | 1/3 cliff at 12 months; then quarterly over 24 months |
| Oct 31, 2024 | 20,845 | 59,200 | 1/3 cliff at 12 months; then quarterly over 24 months |
Additional outstanding (earlier awards) and vesting:
- 2023 RSUs: 5,620; 26,909; 27,407 units; initial values $13,726; $59,200; $59,200; vest 1/3 at one year then quarterly over 24 months .
- 2023 annual RSU: 9,602 units; initial value $25,000; 25% at one year then quarterly over 36 months .
- 2022 RSUs: multiple quarterly grants (3,619; 1,845; 3,236; 3,287 units) with quarterly vesting over 36 months; 2022 annual RSU 3,788 units with 25% cliff at one year then quarterly over 36 months .
Stock options outstanding and vesting:
| Options (as of 12/31/24) | Exercisable | Unexercisable | Strike ($) | Expiration |
|---|---|---|---|---|
| Annual/quarterly awards (per agreement) | 4,583 | 417 | 15.40 | 4/1/2031 |
| Bonus-related options | 1,240 | — | 7.56 | 8/17/2031 |
| Bonus-related options | 795 | — | 9.64 | 11/16/2031 |
Equity Ownership & Alignment
Beneficial ownership (record date Oct 15, 2025):
| Holder | Shares Beneficially Owned | % of Outstanding | Breakdown |
|---|---|---|---|
| Peter J. Biere | 92,717 | <1% | 61,352 common; 7,035 options; 24,330 RSUs vesting within 60 days |
Unvested RSUs and market value (as of 12/31/24; closing price $2.75):
| RSU Position | Units | Market Value ($) |
|---|---|---|
| 2022 annual RSU (cliff + quarterly) | 1,267 | 3,484 |
| 2022 quarterly RSUs (May) | 301 | 828 |
| 2022 quarterly RSUs (Aug) | 306 | 842 |
| 2022 quarterly RSUs (Apr) | 807 | 2,219 |
| 2022 quarterly RSUs (Nov) | 1,095 | 3,011 |
| 2023 annual RSU | 5,599 | 15,967 |
| 2023 quarterly RSUs (Apr) | 2,340 | 6,435 |
| 2023 quarterly RSUs (Sept) | 15,697 | 43,167 |
| 2023 quarterly RSUs (Oct) | 18,272 | 50,248 |
| 2024 quarterly RSUs (Jan) | 29,453 | 80,996 |
| 2024 quarterly RSUs (Apr) | 21,295 | 58,561 |
| 2024 quarterly RSUs (Jul) | 25,739 | 70,782 |
| 2024 quarterly RSUs (Oct) | 20,845 | 57,324 |
Policy alignment:
- Anti-hedging and pledging: IZEA prohibits hedging and pledging by directors and employees, including NEOs .
- Ownership guidelines: Not disclosed in proxies; compliance status not provided .
Employment Terms
Current employment agreement (effective Sept 1, 2023; initial term 3 years, auto-renews annually):
- Base salary and bonus: $320,000 base; annual bonus up to 60% of base (five installments), contingent on specified annual performance goals .
- Long-term incentive: $236,800 in RSUs via four awards; each vests 1/3 at 12 months, then quarterly over three years .
- Severance: If terminated without cause or for good reason, nine months’ base salary, up to nine months COBRA, and pro-rated annual bonus based on actual performance; equity vesting governed by plan/award terms .
- Change-of-control: If termination occurs within three months prior to or twelve months following a change of control (other than for cause or resignation without good reason), nine months’ base salary, up to nine months COBRA, and pro-rated annual bonus at target; equity vesting per plan/award terms .
- Termination definitions: “Cause” and “Good Reason” defined (material diminution, salary reduction except across-the-board, or material breach) with cure and notice periods .
Earlier agreement (effective Apr 1, 2021) included:
- One-year non-compete across the U.S. post-employment; non-solicit of employees/customers; confidentiality; and detailed clawback provisions aligned with Dodd-Frank for incentive compensation and fiduciary breaches . Note: The 2023 amended/restated agreement summarized in proxies does not explicitly re-state non-compete/clawback terms in the summary; award/plan documents may govern current clawback requirements .
Start date and tenure:
- Appointed CFO effective April 1, 2021 .
Investment Implications
- Pay-for-performance architecture: Biere’s STIP hinges equally on Revenue and Adjusted EBITDA with payouts variable from 50%–150% of target; LTIs are RSUs with multi-year vesting, aligning incentives to growth and profitability while deferring value realization .
- Vesting cadence and supply dynamics: Quarterly RSU schedules (plus near-term vesting of 24,330 RSUs within 60 days as of the 2025 record date) indicate recurring vest events; typical sell-to-cover/tax-related sales could create periodic float additions, though actual selling is not disclosed .
- Alignment and risk controls: Anti-hedging/pledging policy reduces misalignment risk; change-of-control protection at nine months (vs. larger “golden parachutes”) suggests moderate severance economics and primarily performance-tied equity vesting .
- Skin-in-the-game: Beneficial ownership is <1% (92,717 shares), with a material portion in unvested RSUs—alignment is via unvested equity rather than sizeable common ownership .
- Execution backdrop: Company TSR and net losses deteriorated into 2024, framing heightened execution risk for pay outcomes; STIP metrics directly target improvements in Revenue and Adjusted EBITDA to reverse trends .