Ted Goldthorpe
About Ted Goldthorpe
Ted Goldthorpe, 48, joined LOGC’s board in March 2025 and was appointed Board Chairperson the same month. He is a Partner at BC Partners, leading BC Partners Credit (co-founded in 2017), and previously held senior roles at Apollo Investment Corporation and Goldman Sachs. He holds a B.A. in Commerce from Queen’s University (Ontario).
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Apollo Investment Corporation | President; CIO, Apollo Investment Management; Sr. Portfolio Manager, U.S. Opportunistic Credit | Feb 2012 – Aug 2016 | Member, Senior Management Committee; led US Opportunistic Credit platform |
| Goldman Sachs (Special Situations Group) | Managing Director; ran Bank Loan & Distressed Investing Desk | Jul 1999 – Feb 2012 | Led desk and special situations investing |
| Crescent Point Energy | Director (Audit Committee) | 2021 – 2023 | Audit committee service |
| KITS Eyecare | Director (Compensation Committee) | 2021 – 2024 | Compensation committee service |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Mount Logan Capital Inc. | CEO & Director | Current | Executive leadership and board service |
| Portman Ridge Finance Corporation | Director | Current | Independent director at BDC affiliate of BC Partners |
| Logan Ridge Finance Corporation | Director | Current | Independent director at BDC affiliate of BC Partners |
| The BC Partners Credit Platform | Partner; Head | Current | Co-founded platform; leads strategy |
Board Governance
- Status: Independent director under Nasdaq rules; LOGC’s board determined all current non‑employee directors are independent. Independent directors hold regular executive sessions.
- Roles: Board Chairperson (since March 2025); Member, Compensation Committee and Nominating & Corporate Governance Committee. Compensation Committee is chaired by Michael Farlekas; Audit Committee is chaired by Jennifer Chou.
- Committee expertise: Audit Committee members (Chou, Ward, Heinberg) designated “financial experts.”
- Attendance: LOGC reports each director in 2024 attended at least 75% of board and committee meetings; no individual attendance data disclosed for Goldthorpe (joined 2025).
Fixed Compensation (Director Program)
| Component | Amount/Terms | Notes |
|---|---|---|
| Annual cash retainer (Board) | $150,000 | Paid annually; directors may elect RSUs instead, subject to vesting |
| Lead Independent Director retainer | $20,000 | Annual; RSU election option |
| Committee Chair retainers | Audit $20,000; Compensation $15,000; Nominating $10,000 | Annual; RSU election option |
| Committee member retainers | Audit $10,000; Compensation $7,500; Nominating $5,000 | Annual; RSU election option |
| Transaction Committee fee | $35,000 per month (Nov 15, 2024 – Mar 10, 2025) | For those serving on special committee; not disclosed whether Goldthorpe served |
- Vesting for RSU-in-lieu elections: One-year vest, with prorated vesting upon role change or termination; board may accelerate vesting at discretion.
Performance Compensation (Director Equity Program)
| Grant Type | Value Basis | Vesting | Change-in-Control Treatment |
|---|---|---|---|
| Annual RSU grant | $150,000 (value determined at grant) | Vests fully at 1-year anniversary | Full vesting upon a “change in control” per 2020 Plan |
| Initial RSU grant (for new directors) | $440,000 (VWAP over prior 30 trading days) | Vests fully at 1-year anniversary | Full vesting upon a “change in control” per 2020 Plan |
- Directors may elect to receive any cash retainers in RSUs subject to equivalent vesting mechanics.
- No performance (metric-based) conditions are disclosed for director RSUs; vesting is service-based.
Other Directorships & Interlocks
- BC Partners affiliation: LOGC formed ContextLogic Holdings LLC, which issued 75,000 Class A convertible preferred units to an affiliate of BC Partners for $75,000,000 on March 6, 2025; LOGC holds Class B common units. Goldthorpe is a Partner at BC Partners and Board Chair at LOGC.
- Additional ties: Director Mark Ward is a Principal on BC Partners Credit; Director Jennifer Chou serves as an independent director at BDCs affiliated with BC Partners (Portman Ridge, Logan Ridge).
Potential conflict signal: The BC Partners investment into LOGC’s subsidiary combined with BC Partners-affiliated personnel on LOGC’s board (including the Chair) raises related‑party and independence optics, even though LOGC discloses no related‑party transactions above thresholds since January 1, 2024. Audit Committee oversees related‑party reviews.
Expertise & Qualifications
- Domain expertise: 20+ years across private equity, credit, and complex transactions; senior leadership at Apollo and Goldman Sachs special situations.
- Financial oversight: Prior audit and compensation committee experience at public companies.
- Education: B.A. in Commerce, Queen’s University (Ontario).
Equity Ownership
| Holder | Shares Beneficially Owned | % Outstanding | Notes |
|---|---|---|---|
| Ted Goldthorpe (as of April 4, 2025) | — | — | No RSUs vesting within 60 days; no beneficial ownership reported |
| Ted Goldthorpe (as of May 19, 2025) | — | — | DEF 14A table shows “—” |
- Hedging/pledging: LOGC policy prohibits directors from hedging or pledging company stock.
- Ownership guidelines: No mandatory director ownership guidelines; ownership is strongly encouraged.
Governance Assessment
- Board effectiveness: Goldthorpe brings deep credit and transaction expertise and currently chairs the board, with committee roles on Compensation and Nominating; committee chairs (Audit and Compensation) are held by other independent directors, supporting checks-and-balances.
- Independence and oversight: LOGC affirms director independence and robust Audit Committee oversight, with designated financial experts. Executive sessions are regularly held.
- Alignment and incentives: Director compensation leans into equity via annual and initial RSUs, with RSU-in-lieu options for cash retainers; change-in-control acceleration aligns with transactional focus but reduces at‑risk horizon.
- RED FLAGS:
- BC Partners investment interlock while Goldthorpe is Board Chair and BC Partners partner (and other BC Partners ties on the board) may present perceived conflicts; continued Audit Committee-level scrutiny of related‑party transactions is critical.
- No disclosed personal share ownership for Goldthorpe to date, and no mandatory director ownership guidelines, potentially weakening “skin‑in‑the‑game” optics.
- Nasdaq “public shell” listing risk noted in proxy Risk Factors; while not specific to Goldthorpe, it can affect governance priorities and investor confidence.
Committee Assignments (Current)
| Committee | Membership | Chair |
|---|---|---|
| Audit | Chou, Ward, Heinberg | Jennifer Chou |
| Compensation | Farlekas, Goldthorpe, Ward, Chou | Michael Farlekas |
| Nominating & Corporate Governance | Heinberg, Goldthorpe, Ward | Marshall Heinberg |
Policies & Controls Relevant to Governance
- Related-party transactions: Audit Committee primary review/approval; no related‑party transactions above thresholds since Jan 1, 2024.
- Indemnification: LOGC has indemnification agreements with directors.
- Clawback: Executive compensation clawback policy; not stated for directors.
Notes on Disclosures
- Individual meeting attendance for Goldthorpe is not disclosed (he joined in 2025); LOGC reports aggregate 2024 attendance at ≥75% for directors.
- Specific 2025 director compensation amounts for Goldthorpe are not disclosed; tables above reflect LOGC’s standard director compensation program design.