William A. Houlihan
About William A. Houlihan
William A. Houlihan (age 69) has served as an independent director of Lument Finance Trust since March 2013; he is the Lead Independent Director, Chair of the Audit Committee, and a member of the Nominating & Corporate Governance Committee. He is recognized by the board as an “audit committee financial expert,” with more than 40 years in finance; he holds an MBA in Finance from NYU and a BS in Accounting from Manhattan College, and is a CPA (inactive) . The board affirmatively determined he is independent under NYSE rules and chairs executive sessions of independent directors .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Thunder Bridge Acquisition Ltd. | Chief Financial Officer | Jun 2018 – Jul 2019 | SPAC CFO responsibilities; finance leadership |
| Thunder Bridge Acquisition II, Ltd. | Chief Financial Officer | Aug 2019 – Jun 2021 | SPAC CFO responsibilities; finance leadership |
| Thunder Bridge Capital Partners III Inc. | Chief Financial Officer | Feb 2021 – Dec 2023 | SPAC CFO responsibilities |
| Thunder Bridge Capital Partners IV Inc. | Chief Financial Officer | Jul 2021 – Dec 2024 | SPAC CFO responsibilities |
| MAXEX, LLC | Director; Audit Committee Chair | Nov 2012 – Jun 2023 | Audit oversight; private mortgage trading platform governance |
| Avem Health Partners (FPCG) | Director; Audit Committee Chair; Non-Executive Chair (Apr 2013–Sep 2014) | 2009 – present (public until Jan 2015 go-private) | Audit financial expert; governance leadership |
| Tiptree, Inc. (NASDAQ: TIPT) | Lead Independent Director; Audit Committee Chair | Jul 2013 – Jun 2015 | Public co. audit oversight; governance |
| Care Investment Trust | Lead Independent Director; Audit Committee Chair | Aug 2010 – Jul 2013 | Public REIT audit oversight; merged with Tiptree in Jul 2013 |
| SNL Financial | Director | 2003 – 2010 | Governance of financial information company |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Webull Corporation (NASDAQ: BULL) | Director; Audit Committee Chair; Member, Compensation & Nominating/Gov | Since Apr 2025 | Public brokerage; multi-committee workload |
| Angel Pond Holdings Corporation (NYSE: POND) | Director | May 2021 – Dec 2022 | SPAC board service |
Board Governance
- Independence: Board affirmed Houlihan is independent under NYSE rules; no direct or indirect material relationship with LFT or subsidiaries .
- Roles: Lead Independent Director; Audit Committee Chair; member of Nominating & Corporate Governance Committee .
- Executive sessions: Chairs executive sessions of independent directors .
- Meetings/attendance:
- Board met 4 times in 2024; no director attended fewer than 75% of aggregate board and committee meetings .
- Audit Committee met 5 times in 2024 .
- Board met 6 times in 2023; Audit Committee met 4 times in 2023 .
| Governance Metric | 2023 | 2024 |
|---|---|---|
| Board meetings held | 6 | 4 |
| Audit Committee meetings held | 4 | 5 |
| Attendance threshold met (≥75%) | Yes | Yes |
Fixed Compensation
- Structure (Independent Directors):
- 2023: $50,000 annual cash retainer; Audit Chair +$15,000; Comp/Nom-Gov Chairs +$10,000; no lead independent retainer .
- 2024: $100,000 annual cash retainer; Lead Independent +$10,000; Audit Chair +$15,000; other chair fees unchanged .
- Houlihan actual fees:
- 2023 total: $65,000 (retainer + audit chair fee) .
- 2024 total: $125,000 (retainer + lead independent + audit chair) .
| Component | 2023 ($) | 2024 ($) |
|---|---|---|
| Base annual retainer | 50,000 | 100,000 |
| Lead Independent Director retainer | — | 10,000 |
| Audit Committee Chair retainer | 15,000 | 15,000 |
| Total fees (Houlihan) | 65,000 | 125,000 |
Performance Compensation
- No performance bonus, option awards, or performance stock reported for Houlihan in 2023 or 2024; director compensation disclosed as fees with optional stock election in lieu of cash .
| Performance Component | 2023 | 2024 |
|---|---|---|
| Cash bonus | None disclosed | None disclosed |
| Stock awards (PSUs/RSUs) | None disclosed | None disclosed |
| Option awards | None disclosed | None disclosed |
| Performance metrics tied to pay | None disclosed | None disclosed |
Note: Independent Directors Stock-for-Fees Program allows equity in lieu of cash; in 2024, Cummins, Keenan, and Hunt elected stock, while Houlihan is not listed among electing directors, implying cash-only compensation in 2024 .
Other Directorships & Interlocks
| Entity | Type | Relationship |
|---|---|---|
| Lument Investment Holdings, LLC | 27.4% shareholder (as of Apr 16, 2024) with director designation rights for two nominees | Affiliates designated Flynn and Reynolds; no indication Houlihan is a designee; board maintains independence determinations |
| Hunt Companies Equity Holdings, LLC | 11.1% shareholder | James C. Hunt (LFT director) holds 635,039 shares (1.2%); interlock via another director, not Houlihan |
Expertise & Qualifications
- Financial expertise: Audit committee financial expert designation; >40 years diversified financial/business experience .
- Education/credentials: MBA (NYU), BS Accounting (Manhattan College), CPA (inactive) .
- Teaching: Adjunct professor, Montclair State University (2017–2021) .
Equity Ownership
| Holder | Shares Beneficially Owned | % Outstanding | As-of Date |
|---|---|---|---|
| William A. Houlihan | 217,732 | <1% | Apr 15, 2025 |
- None of the directors’ or executive officers’ shares beneficially owned were pledged as security .
Governance Assessment
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Strengths:
- Lead Independent Director and Audit Chair with formal “financial expert” status; active oversight of financial reporting, auditor independence, and cybersecurity risk; audit committee met 5 times in 2024 .
- Independence affirmed; chairs executive sessions; attendance thresholds met .
- Clear fee structure; 2024 retainer increase and lead independent stipend reflect expanded responsibilities; personal share ownership present .
-
Alignment considerations:
- Did not elect stock under Stock-for-Fees Program in 2024, while peers did—suggests cash-heavy mix relative to other independents, though directors committed to either receive stock or purchase on market .
-
Potential conflicts/overboarding risk indicators:
- Multiple audit chair roles externally (including public and private companies); LFT’s board concluded this does not impair his effectiveness as Audit Chair and financial expert at LFT .
- Manager/affiliate transactions (Lument IH designation rights; servicing arrangements) exist at company level, but board affirmed Houlihan has no material relationship with LFT or subsidiaries (independence maintained) .
-
RED FLAGS:
- SEC administrative proceeding settled in 2015 for late Schedule 13D and Section 16(a) filings at FPCG; cease-and-desist and $15,000 civil penalty—historical disclosure compliance issue to monitor .
- Cash-only director fee mix in 2024 (no stock election) may be viewed as weaker ongoing alignment versus peers who took stock-for-fees .