Ryan Duran
LM FUNDING AMERICAAbout Ryan Duran
Ryan Duran, age 39 in 2024 (38 in 2023; 37 in 2021), is Vice President of Operations at LM Funding America (LMFA); he joined LMFA in March 2015 and holds a bachelor’s degree in real estate and finance from Florida State University . As of the 2025 proxy, his role is described as Vice-President of Operations and President of US Digital Mining and Hosting Co within LMFA . Company performance over 2021–2023 shows Total Shareholder Return (TSR) of a $100 initial investment at $145.07 (2021), $16.47 (2022), and $18.41 (2023), alongside net income of $4,759k (2021), $(29,240)k (2022), and $(15,944)k (2023) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| LM Funding America, Inc. | Vice President of Operations | 2015–present | Operational leadership across core businesses |
| LM Funding America, Inc. | President, US Digital Mining and Hosting Co (also VP Ops) | 2025–present | Oversight of digital mining/hosting subsidiary operations |
| Business Law Group | Operations Manager | 2008–2015 | Managed operational processes prior to joining LMFA |
External Roles
- No public company directorships or external board roles disclosed for Mr. Duran .
Fixed Compensation
| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Salary ($) | $132,500 | $146,923 | $155,769 | $154,808 | $175,000 | $192,500 |
| Target Bonus (%) | — | — | — | — | — | — |
| Actual Bonus Paid ($) | — | — | $20,000 | $25,000 | $75,000 | — |
| All Other Compensation ($) | $19,718 | $22,657 | $26,618 | $29,298 | $32,559 | $40,217 |
| Total ($) | $160,988 | $169,580 | $202,387 | $1,057,025 | $282,559 | $443,929 |
Employment Agreement: Initial base salary $175,000; discretionary annual bonus eligibility; participation in equity plans; benefits parity with other officers. Initial term through September 30, 2023 with automatic annual renewal unless either party gives 30 days’ notice prior to renewal .
Performance Compensation
| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Stock Awards ($) | — | — | — | — | — | $122,086 |
| Option Awards ($) | — | — | — | $847,919 | — | $89,126 |
- Equity awards detail (as of fiscal year-end tables):
| Instrument | Exercisable (#) | Unexercisable (#) | Exercise Price ($) | Expiration Date |
|---|---|---|---|---|
| Stock Units (Unvested) at 12/31/2023 | — | 9,028 | — | — |
| Market value of unvested stock units ($) at 12/31/2023 | — | — | 33,394 | — |
| Stock Options | 21,065 | 8,120 | 35.70 | 10/28/2031 |
| Stock Options | 20,833 | 20,833 | 4.51 | 4/20/2033 |
| Stock Options/Warrants | 14 | — | 3,000 | 1/04/2026 |
| Stock Options/Warrants | 28 | — | 300 | 5/29/2028 |
| Stock Options (updated 2024/2025 table) | 29,167 | — | 35.70 | 10/28/2031 |
| Stock Options (updated 2024/2025 table) | 20,833 | 20,833 | 4.51 | 4/20/2033 |
| Stock Options/Warrants (updated 2024/2025 table) | 14 | — | 3,000 | 1/04/2026 |
| Stock Options/Warrants (updated 2024/2025 table) | 83 | — | 300 | 5/29/2028 |
Performance metrics, weightings, targets, and payouts for incentive plans are not disclosed for Mr. Duran; bonuses are at Board discretion under his agreement .
Equity Ownership & Alignment
| Metric | 2018 | 2020 | 2024 | 2025 |
|---|---|---|---|---|
| Beneficial Ownership (shares) | 4,333 | 2,080 | 66,415 | 83,749 |
| Ownership (% of outstanding) | <1% | <1% | 2.32% | <1% |
| Shares Outstanding Basis | 6,253,189 | 3,234,163 | 2,806,857 | 15,198,388 |
| Vested vs Unvested Stock Units (12/31/2023) | — | — | Unvested: 9,028 units; $33,394 MV | — |
| Options – Exercisable vs Unexercisable | See Performance Compensation table above | See Performance Compensation table above | See Performance Compensation table above | See Performance Compensation table above |
- Anti-hedging policy: LMFA prohibits directors, officers, and designated employees from hedging transactions, short sales, and publicly traded options involving LMFA securities .
- Pledging: No pledging by Mr. Duran is disclosed in the beneficial ownership tables/footnotes; pledging references in filings relate to other parties (e.g., Craven House) and not Mr. Duran .
Employment Terms
- Role and start: Joined LMFA in March 2015; serves as Vice President of Operations (and as of 2025, President of US Digital Mining and Hosting Co) .
- Agreement term: Initial term through September 30, 2023; automatic annual renewal unless either party provides notice at least 30 days prior to renewal date .
- Compensation terms: Initial base salary $175,000; eligibility for discretionary annual bonuses; participation in equity incentive plans and standard officer benefits .
- Severance and vesting: Lump-sum severance of 3× base salary if terminated without cause (including company non-renewal) or upon “good reason”; payment of accrued bonus; accelerated vesting of unvested options and other equity awards .
- Covenants: Non-competition and confidentiality provisions included .
- Indemnification: LMFA provides indemnification to executive officers to the fullest extent permitted under Delaware law via indemnification agreements .
Performance & Track Record
| Metric | 2021 | 2022 | 2023 |
|---|---|---|---|
| Value of $100 Initial Investment (TSR) | $145.07 | $16.47 | $18.41 |
| Net Income (Loss) ($ thousands) | $4,759 | $(29,240) | $(15,944) |
- Company pay-versus-performance disclosures identify Mr. Duran among Non-PEO NEOs used for average “compensation actually paid” calculations (with PEO Bruce Rodgers) .
Compensation Structure Analysis
- Shift toward equity in 2021: Large option award ($847,919) in 2021 vs no stock/option awards in 2020; reflects increased equity-linked pay that year .
- Return to cash + moderate equity in 2023: Stock awards ($122,086) and option awards ($89,126) complemented base salary increase to $192,500; no bonus paid in 2023 .
- Discretionary bonuses: Bonus design remains discretionary without disclosed performance metrics/targets; bonus paid in 2022 ($75,000) and prior years (2020–2021) .
Say-on-Pay & Governance Signals
- Advisory vote language to approve NEO compensation policies disclosed; outcome percentages not provided in available excerpts .
- Insider trading policy restricts hedging and derivative transactions, lowering misalignment risk from hedging strategies .
Investment Implications
- Alignment: Mr. Duran’s meaningful option holdings (including long-dated 2031 and 2033 expirations) and unvested stock units support equity alignment; anti-hedging policies reinforce alignment by disallowing hedging/monetization .
- Retention risk: Contract auto-renewal and 3× base salary severance upon without-cause or good-reason termination, plus accelerated vesting, reduce near-term attrition risk but raise cost of separation in downside scenarios; incentives may favor continuity .
- Selling pressure: The presence of unvested stock units and multiple option tranches implies potential periodic liquidity events upon vesting/exercisability; specific vesting dates beyond FY-end holdings are not disclosed .
- Performance sensitivity: Company TSR and profitability were volatile over 2021–2023; the compensation framework lacks disclosed performance metrics/weightings for bonuses/equity, reducing visibility into pay-for-performance rigor for Mr. Duran .