Jeff Ransdell
About Jeff Ransdell
Jeff Ransdell is Chief Executive Officer of Maquia Capital Acquisition Corporation (MAQC) and has served in this role since February 2021; MAQC’s filings report his age as 55 in the FY 2023 10‑K and describe his background as a venture capitalist and former senior executive at Bank of America Merrill Lynch, with a bachelor’s degree from the University of North Dakota . He is repeatedly identified and signs company proxy materials and corporate certificates as Chief Executive Officer, underscoring his continuing role and authority . MAQC operates as a SPAC; filings focus on extension proposals and business combination process rather than operating performance metrics (TSR, revenue, EBITDA), which are not disclosed for the CEO’s tenure .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Bank of America Merrill Lynch | Managing Director and Market Executive | — | Managed >$130B of global private client assets; $2B P&L; >2,000 employees |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Fuel Venture Capital | Founder; Venture Capitalist | Founded 2016 | Manages ~$200M fund; portfolio includes Bolt, AdMobilize, Taxfyle, Eyrus |
Fixed Compensation
- None of MAQC’s officers (including the CEO) have received any cash compensation for services rendered prior to the consummation of the initial business combination; officers are only reimbursed for out-of-pocket expenses, and no termination benefits agreements exist .
Performance Compensation
- Prior to the initial business combination, MAQC discloses no incentive compensation (RSUs/PSUs/options) paid to officers; any future compensation post-combination would be determined by the combined company’s governance processes and disclosed at that time .
Equity Ownership & Alignment
- Beneficial ownership tables consistently show no personally beneficially owned MAQC shares reported for Jeff Ransdell at the record dates disclosed (entries for his name are “—”) .
- MAQC’s Sponsor (Maquia Investments North America, LLC), controlled for reporting purposes by director/stockholder Guillermo Cruz, holds the majority of MAQC’s equity, with the exact share counts and high percentage control disclosed across filings; this underscores alignment primarily through sponsor economics rather than direct CEO ownership .
| Metric | 2023 Record Date | 2024 Record Date | 2025 Record Date |
|---|---|---|---|
| Jeff Ransdell – Beneficially Owned Shares | — | — | — |
| Jeff Ransdell – Ownership % of Common | — | — | — |
Pledging/Hedging: No pledging or hedging of company stock by Jeff Ransdell is disclosed in the cited filings .
Employment Terms
- Role and tenure: Chief Executive Officer since February 2021 .
- Severance/Change-of-control: MAQC reports it is not party to agreements providing benefits upon termination for officers and directors prior to the business combination; no severance or change‑of‑control payouts are disclosed at this stage .
- Clawback: MAQC adopted a Compensation Recovery Policy compliant with Nasdaq Rule 5608, enabling recovery of erroneously awarded incentive-based compensation after an accounting restatement and referencing SOX 304 recovery for CEO/CFO compensation; policy is filed as Exhibit 97.1 to the FY 2023 10‑K .
- Post-combination pay: Any consulting/management fees post-business combination for executives would be determined by independent directors/compensation committee and disclosed in transaction materials; no pre-combination limits are set, consistent with SPAC structure .
Related Party and Financing Context (Alignment/Risk Signals)
- Sponsor financing and incentives: The Sponsor holds large common equity positions and promissory notes, including up to $1.5M convertible into units identical to private placement units upon closing a business combination, and other outstanding notes, which would expire or be at risk if no business combination occurs; these sponsor-linked economics can create incentives around timing and deal execution .
- Extensions and trust protections: Proxies detail extensions to consummate a business combination and protections around trust account redemptions; CEO signs extension-related documents and proxies, reflecting procedural leadership rather than pay-linked metrics .
Board Governance and Compensation Committee
- MAQC maintains a compensation committee of independent directors, chaired by Luis Antonio Marquez‑Heine, with Luis Armando Alvarez as a member; the charter covers CEO compensation review, administration of equity/incentive plans, and advisor independence, while noting no compensation is paid to officers prior to a business combination .
- Code of Ethics and committee charters are filed in public documents, with governance and independence protocols described .
Investment Implications
- Pay-for-performance alignment is minimal pre-combination: No salary/bonus/equity awards reported for the CEO at MAQC prior to closing a deal, and no personal share ownership reported, so alignment hinges on sponsor economics and the CEO’s external track record rather than direct MAQC equity .
- Low near-term insider selling pressure: With no reported personal beneficial ownership for Jeff Ransdell, there is limited evidence of near-term selling pressure from his holdings; pledging/hedging are not disclosed .
- Governance safeguards exist via clawback: The adopted compensation recovery policy strengthens future pay governance post‑combination, enabling recovery of incentive pay after restatements and referencing SOX 304 for CEO/CFO .
- Execution risk is SPAC‑specific: Sponsor convertible notes and large sponsor ownership create strong incentives to complete a business combination; diligence should focus on target quality and deal terms rather than CEO compensation levers, given the pre‑combination structure .