James C. Hunt
About James C. Hunt
James C. (“Chris”) Hunt, age 55, has served on Lument Finance Trust’s board since January 2018 and is currently an independent director and member of the Compensation Committee; he previously served as Chairman (Jan 2019–Jan 2020) . He is CEO and President of Hunt Companies, Inc., with 30+ years in real estate, finance, and corporate governance; he holds a B.A. in Economics and an MBA from the University of Texas at Austin . The board has affirmatively determined he is independent under NYSE standards .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Lument Finance Trust, Inc. | Independent Director | Jan 2018–Present | Compensation Committee member; board and committee attendance ≥75% in 2024 (company-wide disclosure) |
| Lument Finance Trust, Inc. | Chairman of the Board | Jan 2019–Jan 2020 | Board leadership during transition to current Chair/CEO structure |
| Hunt Companies, Inc. | CEO & President; Director since 2001 | 2001–Present (director); career at Hunt since 1993 | Leads private-market real estate development/acquisitions; multiple subsidiary boards |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Hunt Companies, Inc. (private) | CEO & President; Director | 2001–Present (director); executive roles since 1993 | Oversees development/acquisitions; establishes partner relationships |
| Various Hunt subsidiaries/affiliates | CEO/Board roles | Ongoing | Operating leadership and governance |
| Public company boards (other than LFT) | — | — | None disclosed in the proxy |
Board Governance
- Independence: The board determined Hunt is independent; only Flynn (CEO/Chair) and Reynolds (affiliate employee) are non-independent .
- Committees: Compensation Committee member; the committee met 2 times in 2024 (Keenan, Chair; members: Cummins, Hunt, Keenan) .
- Attendance and engagement: In 2024, no director attended fewer than 75% of board and assigned committee meetings; board met 4 times . All directors attended the 2024 annual meeting .
- Board leadership and executive sessions: Houlihan is Lead Independent Director and chairs executive sessions of independent directors .
- Audit and Nominating Committees context: Audit (5 meetings in 2024; Houlihan Chair/Financial Expert) and Nominating & Corporate Governance (2 meetings) are comprised solely of independent directors, supporting oversight .
Fixed Compensation
| Component | Structure | 2024 Amount | Notes |
|---|---|---|---|
| Annual retainer (Independent Director) | Paid in arrears; stock-for-fees election available | $100,000 | Program allows receiving all/part in stock or purchasing on the open market |
| Committee chair fees | Audit Chair $15,000; Comp Chair $10,000; NCG Chair $10,000 | n/a (not a chair) | Additional to base retainer |
| Lead Independent Director fee | $10,000 | n/a (not Lead Independent) | — |
| Meeting fees | Not disclosed | — | Company may pay ad hoc committee fees if applicable |
Stock-for-Fees elections (2024):
- Hunt received 21,581 shares at a weighted average price of $2.4326 in lieu of $52,497.94 of cash fees under the Independent Directors Stock‑for‑Fees Program .
Performance Compensation
| Element | Structure | Metrics | 2024 Detail |
|---|---|---|---|
| Performance-based equity/cash for directors | Not disclosed/applicable | — | The director compensation table shows no stock awards; compensation comprised of fees (with stock-for-fees election) |
Note: The Compensation Committee oversees executive compensation (if applicable) and equity plans, but LFT is externally managed and did not engage a compensation consultant in 2024; the Manager pays officers, reducing direct pay decisions at LFT .
Other Directorships & Interlocks
| Counterparty | Relationship | Rights / Agreements | Governance Implication |
|---|---|---|---|
| Hunt Companies Equity Holdings, LLC (HCEH) | ≥5% shareholder affiliated with Hunt Companies, Inc. | Shareholder agreement granting HCEH the right to designate one director; HCEH designated James C. Hunt; registration rights agreement | Significant shareholder board designee; potential alignment/conflict requires monitoring |
| Lument Investment Holdings, LLC (Lument IH) | ~27.4% shareholder; affiliate of Manager (ORIX USA) | Director designation rights (Flynn, Reynolds); registration rights; excepted holder limit 27.4% | External manager/affiliate influence on board composition |
| Excepted holder limits | Mr. Hunt and HCEH | Excepted holder limit of 14.0% aggregate for Hunt and HCEH; overall ownership limits reduced to 8.75% for others | Concentrated ownership structurally permitted; constrain others’ accumulation |
Expertise & Qualifications
- Real estate and finance operator with 30+ years across development, lending, and governance; career progression at Hunt from 1993 to CEO/President; board roles across affiliates .
- Education: B.A. Economics; MBA (University of Texas, Austin) .
- Governance: Prior LFT Chairman; current Compensation Committee member .
- Not designated as Audit Committee Financial Expert (that designation is held by Houlihan) .
Equity Ownership
| Holder | Shares Beneficially Owned | % Outstanding | Notes |
|---|---|---|---|
| James C. Hunt | 635,039 | 1.2% | As of Apr 15, 2025; no shares pledged; Form 4 filed Apr 3, 2025 referenced in footnote |
Policy alignment:
- Insider trading policy prohibits short selling, options, and hedging/monetization transactions in LFT securities by directors/officers .
Insider Trades
| Filing Date | Form | Transaction Type | Shares/Price | Post-Transaction Ownership | Source |
|---|---|---|---|---|---|
| 2025-04-03 | Form 4 | Not disclosed in proxy | Not disclosed in proxy | 635,039 | Proxy footnote references Form 4 (Apr 3, 2025) |
Note: The proxy reports current ownership including reference to a Form 4 but does not detail the specific transactions; no pledging disclosed .
Director Compensation Detail (2024)
| Name | Fees Earned or Paid in Cash | Stock Awards | Total |
|---|---|---|---|
| James C. Hunt | $100,000 | — | $100,000 |
Stock-for-Fees breakdown (election within fees):
- Shares received: 21,581; Weighted average price: $2.4326; Dollar amount in stock: $52,497.94 .
Governance Assessment
-
Positives
- Independence affirmed despite affiliation with a significant shareholder (HCEH); serves on a fully independent Compensation Committee .
- Strong ownership alignment: 635,039 shares (1.2%); elected to take a substantial portion of fees in stock under the Stock-for-Fees Program; no pledging; hedging prohibited .
- Engagement: Met company-wide attendance threshold; board/committee structures and independent executive sessions in place; all directors attended the 2024 annual meeting .
-
Watch items / potential conflicts
- Concentrated ownership and designation rights: HCEH (affiliated with Hunt Companies) has board designation rights and an excepted holder limit up to 14% for Mr. Hunt and HCEH combined; this, together with Lument IH’s 27.4% and designation rights, concentrates influence and could create perceived conflicts (mitigated by independence determinations and full-disclosure) .
- External manager structure: Incentive fee based on core earnings can create risk-taking incentives at the manager level; requires vigilant Compensation and Audit Committee oversight (contextual to LFT governance, not individual director pay) .
Overall, Hunt brings deep sector expertise and meaningful ownership, with independence affirmed by the board. The primary governance risk derives from shareholder designation rights and excepted holder limits, warranting continued monitoring of related-party dynamics and committee rigor around manager incentives .