Thomas Geoffroy
About Thomas Geoffroy
Interim Chief Financial Officer of Chicago Atlantic BDC, Inc. (ticker: LIEN) since July 1, 2025; age 50; licensed CPA with 20+ years in accounting and finance, including roles at a NASDAQ-listed mortgage REIT, a credit-focused asset manager, a family office, United Capital Markets (Finance & Operations Principal, General Securities Principal, CCO), Ares Management (Controller), SAC Capital Advisors (VP Fund Administration & Financial Reporting), and Ernst & Young (Senior Manager, hedge fund audit) . Education: BS, University of Missouri–St. Louis, Magna Cum Laude; licensed CPA . He signed company earnings 8-Ks as Interim CFO on Aug 14 and Nov 13, 2025 . Performance context during his interim tenure: revenues and net income rose sequentially through Q3 2025 (see table below) .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| NASDAQ-listed mortgage REIT | Chief Financial Officer | — | Led public REIT finance and reporting |
| Credit-focused asset management firm | Chief Financial Officer | — | Built controls and reporting for public asset manager |
| Family office | Chief Financial Officer | — | Oversaw finance and operations |
| United Capital Markets (broker-dealer) | Finance & Operations Principal (CFO); General Securities Principal; Chief Compliance Officer | — | Structured finance products; regulatory oversight |
| Ares Management | Controller | — | Institutional finance/reporting |
| S.A.C. Capital Advisors | VP Fund Administration & Financial Reporting | — | Fund admin and financial reporting leadership |
| Ernst & Young | Senior Manager (FSO hedge fund audit) | 9 years | Led hedge fund audits and technical accounting |
External Roles
No current public-company directorships or external committee roles disclosed for Geoffroy in company filings .
Fixed Compensation
| Component | Structure/Amount | Source |
|---|---|---|
| Base salary | Not paid directly by Company; Company reimburses Adviser for allocable portion of CFO and staff compensation based on estimated time devoted to Company | |
| Target bonus % | Not disclosed by Company (executives not directly compensated by Company) | |
| Actual bonus paid | Not disclosed by Company (executives not directly compensated by Company) |
Performance Compensation
| Incentive type | Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| Company-paid incentives | None (executives not directly compensated by Company; reimbursement to Adviser only) | — | — | — | — | — |
| Notes | The Compensation Committee reviews/approves reimbursement of CFO/CCO compensation and staff (time-allocation basis). No company equity awards/option grants to executives are disclosed. | — | — | — | — | — |
| Sources | — | — | — | — | — | — |
References: .
Equity Ownership & Alignment
| Item | Value | Source |
|---|---|---|
| Total beneficial ownership (common) | 412.549 shares | |
| Shares outstanding (record date Apr 25, 2025) | 22,820,408 | |
| Ownership as % of shares outstanding | ~0.0018% | |
| Derivative securities (options/RSUs/warrants) | None reported on Form 3 | |
| Vested vs unvested breakdown | Not disclosed | |
| Shares pledged as collateral | Not disclosed; Company has not adopted hedging policies for employees/officers/directors | |
| Stock ownership guidelines (executives) | Not disclosed |
Employment Terms
- Appointment: Interim Chief Financial Officer effective July 1, 2025; serves until successor is elected and qualified, or earlier resignation/removal .
- Current capacity: Executed Q2 and Q3 2025 earnings 8-Ks as Interim CFO .
- Contract/compensation arrangements: Executives are not directly compensated by the Company; Company reimburses Adviser for allocable CFO/CCO compensation and staff time . Administration Agreement provides the Adviser supplies personnel/facilities and is reimbursed for CFO/CCO allocable compensation .
- Severance/change-of-control terms: Not disclosed for CFO/Interim CFO roles in Company filings .
- Indemnification: Company has indemnification agreements with directors and executive officers, providing maximum indemnification permitted under Maryland law and the 1940 Act (including advancement of legal expenses) .
- Insider trading/hedging: Company maintains insider trading policies; no adopted hedging practices/policies for employees, officers, or directors .
- Officer tenure standard: Executive officers hold office until successors are duly elected and qualified, or resignation/removal .
Company Performance Context (during Geoffroy’s interim tenure)
| Metric | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 |
|---|---|---|---|---|
| Revenues (USD) | $945,984* | $643,546 | $1,173,972 | $1,243,929 |
| Net Income (USD) | $7,974,878* | $7,614,357 | $8,584,265 | $8,834,061 |
- Values retrieved from S&P Global.
Investment Implications
- Alignment: Extremely small direct ownership (~0.0018% of shares), no company equity awards/options, and compensation paid by Adviser then reimbursed by Company indicate limited direct pay-for-performance alignment with LIEN equity; monitor for any future equity grants or guideline adoption .
- Governance/controls: Strong technical finance background and CPA credential reduce execution risk in a regulated BDC; indemnification and insider policies are in place, but absence of hedging restrictions and ownership guidelines is a potential red flag for alignment best practices .
- Retention/trading signals: Interim status suggests retention/transition risk until a permanent CFO is appointed; no derivative holdings reported and Form 3 shows only de minimis ownership, lowering immediate insider-selling pressure; continue to monitor Section 16 filings for changes .
- Performance backdrop: Net income increased sequentially through Q3 2025, providing a constructive operating context during Geoffroy’s interim tenure; sustained improvements may support stability, but compensation linkage to these outcomes is indirect via Adviser economics rather than company equity-based incentives .