Robert Stubblefield
LTRYAbout Robert Stubblefield
Robert J. Stubblefield is Chief Financial Officer and Principal Accounting Officer of Lottery.com Inc. (LTRY), serving since July 2023. He is 60, holds a BS in Business Administration (Accounting) from California State University East Bay (1987), and has been a licensed CPA in California since the late 1980s . He signed SOX 302 and 906 certifications for the FY2024 Form 10-K, affirming disclosure controls and fair presentation of financials . Prior roles include CFO positions at DeMeta/Demeta, Regnum, Wookey Project Corp and Wookey Search Technologies, and contract CFO roles at Sherpa Digital Media; he also has 17 years of finance, accounting, and operations experience in public companies . Company-level metrics tied to his tenure (TSR, revenue growth, EBITDA growth) are not specified in these filings.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| DeMeta, Inc. / Demeta, Inc. | Chief Financial Officer | Jan 2022 – Jul 2023 | Senior finance leadership (public company experience) |
| Regnum Corp. | Chief Financial Officer | Mar 2020 – Jul 2023 | Senior finance leadership (public company experience) |
| Wookey Project Corp & Wookey Search Technologies Corp. | Chief Financial Officer | Mar 2020 – Dec 2021 | Senior finance leadership |
| Sherpa Digital Media, Inc. | Contract CFO | Feb 2019 – Dec 2021 | Senior finance leadership |
| Various SF Bay Area start-ups/growth companies | Consulting CFO | Oct 2017 – Dec 2019 | Senior finance, accounting, operations roles (17 years public company experience noted) |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| State of California | Licensed CPA | Since late 1980s | Professional credential underpinning financial reporting |
Fixed Compensation
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Base Salary ($) | 127,678 | 302,500 |
| Bonus ($) | 31,995 | 75,625 |
| Stock Awards ($) | 72,750 | 133,000 |
| Option Awards ($) | — | 146,250 |
| Total ($) | 232,423 | 657,375 |
Notes:
- Annual bonuses are discretionary, subject to Compensation Committee approval .
- As a smaller reporting company, LTRY discloses compensation for the CEO and two other most highly compensated officers (NEOs) .
Performance Compensation
| Incentive Type | Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| Annual Bonus (Discretionary) | Not specified | Not specified | Not specified | Not specified | Determined by Compensation Committee | Not specified |
| RSUs (FY2024 Grant) | Not specified | Not specified | Not specified | Not specified | Grant of 75,000 RSUs (aggregate stock award fair value disclosed) | Vesting terms not specified |
| Stock Options (FY2024 Grant) | Not specified | Not specified | Not specified | Not specified | Grant of 75,000 options (aggregate option award fair value disclosed) | Term ≤ 10 years; exercise price ≥ FMV at grant; vesting set by Committee |
Governance and process:
- Compensation Committee (independent) reviews goals, evaluates executive performance, and approves cash/equity compensation, employment and severance/change-in-control agreements .
Equity Ownership & Alignment
| Metric | Record Date (Dec 31, 2024) |
|---|---|
| Shares Outstanding | 12,089,919 |
| Beneficial Ownership – Shares | 285,000 |
| Beneficial Ownership – % of Outstanding | 2.36% |
| Vested vs Unvested | Not disclosed |
| RSUs Granted (2024) | 75,000 units |
| Options Granted (2024) | 75,000 options |
| S‑8 Common Stock Granted (2023) | 25,000 shares |
| S‑8 Common Stock Granted (2024) | 20,000 shares |
| Shares Pledged as Collateral | Prohibited by Insider Trading Policy (hedging, margin, pledging banned) |
Additional alignment signal:
- CFO provided a zero‑interest loan to the company for operating expenses; balance $67,941 at year‑end 2024 (no repayments as of report date), indicating personal capital support .
Employment Terms
| Provision | Status |
|---|---|
| Severance Provisions | None in effect for NEOs |
| Change‑of‑Control Provisions | None in effect for NEOs |
| Clawback | Not specified in cited filings |
| Non‑Compete / Non‑Solicit | Not specified in cited filings |
| Insider Trading Policy | Prohibits hedging, monetization transactions, margin accounts, and pledging company securities |
| Option Plan Capacity | 2023 Employees’, Directors’ and Consultants’ Stock Issuance and Option Plan authorizes issuance/options up to 500,000 shares |
| Option Plan Key Terms | Exercise price ≥ 100% FMV at grant; term ≤ 10 years; vesting/exercisability set by Committee; post‑termination exercise windows defined |
| Transferability of Options | Nonstatutory options transferable only by bona fide gift to limited family Permitted Transferees; no pledging/hypothecation; Incentive Options non‑transferable (except by will/descent) |
Compensation Structure Analysis
- Shift toward equity in 2024: RSUs (75,000) and options (75,000) layered on top of S‑8 stock grants (20,000), increasing at‑risk equity versus 2023 .
- Bonuses discretionary: No disclosed quantitative performance metrics (revenue, EBITDA, TSR), limiting pay‑for‑performance transparency .
- No severance or change‑of‑control: Lower guaranteed cash outcomes; retention relies on equity value and role continuity .
- Governance: Independent Compensation Committee oversees and approves executive compensation and related agreements .
Equity Award Detail
| Award Type | FY 2023 | FY 2024 |
|---|---|---|
| S‑8 Common Stock – Shares | 25,000 | 20,000 |
| RSUs – Units | — | 75,000 |
| Stock Options – Units | — | 75,000 |
| Option Exercise Price | — | ≥ Fair Market Value at grant (per plan) |
| Option Term | — | ≤ 10 years (per plan) |
Board/Committee Governance (context)
- Compensation Committee members are independent and responsible for goals, performance evaluation, cash/equity awards, and employment/severance/change‑in‑control agreements .
Investment Implications
- Alignment: Personal zero‑interest loan and ownership of ~2.36% (285k shares) suggest skin‑in‑the‑game; hedging/pledging prohibited, reducing misalignment risk .
- Supply overhang: 2024 grants (75k RSUs, 75k options, plus 20k S‑8 shares) may create future selling pressure upon vesting/exercise; specific schedules not disclosed, complicating timing analysis .
- Retention risk: Absence of severance/change‑of‑control protections implies limited guaranteed downside protection; retention likely driven by equity value and strategic role continuity .
- Pay‑for‑performance transparency: Discretionary bonuses with no disclosed performance metrics (revenue/EBITDA/TSR) reduce predictability of incentive outcomes and complicate quantitative alignment assessment .
- Governance: Independent Compensation Committee oversight is a positive, but investors should monitor future proxy detail for metric‑based awards and any adoption of clawback provisions .