Maximiliano Ojeda
About Maximiliano Ojeda
Co-founder of MGO Global; Chairman and Chief Executive Officer since the company’s inception in November 2021. Age 47; born in Argentina; attended UADE Business School. Career background spans business development, contract negotiations, high-touch client engagement, and technology across hospitality, U.S. real estate, land development, and ecommerce. Dual role (CEO and Chairman) confirmed.
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Douglas Elliman Real Estate; The Corcoran Group (NYC) | Real estate brokerage executive | 2011–2017 | Led high-end client engagement and land development; relationships that led to introduction to the Leo Messi organization and MGO’s formation. |
| Luxury hoteliers (Argentina) | VIP client relations and management | Early career (pre-2011) | High-touch hospitality and client service foundation. |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| — | — | — | Has not previously held any directorships in reporting companies. |
Fixed Compensation
| Metric | 2022 | 2023 | 2024 (as amended) |
|---|---|---|---|
| Base salary ($) | 118,750 | 180,000 | 325,000 (Annual Base Salary per March 27, 2024 amendment) |
| Target bonus (% of salary) | — | — | Up to 25% of base salary; discretionary, based on predetermined performance goals set by the Board |
| Actual bonus paid ($) | — | 135,000 | — (not disclosed) |
| Perquisites | Auto lease/insurance: $7,807 | Life insurance premium: $1,307 | Life and disability insurance premiums reimbursed up to $10,000/year; $1,000/month car allowance |
Performance Compensation
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Cash incentives: Annual bonus is discretionary, with target up to 25% of base salary based on predetermined goals set by the Board; actual 2023 bonus paid was $135,000.
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Equity and vesting schedules:
- 2024 RSUs: 100,000 RSUs granted on March 27, 2024; vest and convert into shares in equal installments quarterly over fiscal 2024.
- 2024 Stock options: 100,000 options, five-year term; exercise price set at 110% of the prior-trading-day close; cliff vest on January 1, 2025.
- Legacy awards (2023 year-end outstanding): 10,000 options exercisable and 20,000 unexercisable at $50.00 strike expiring 01/12/2028; all 30,000 canceled on April 23, 2024. RSUs outstanding at 12/31/23 vested into shares on 02/17/2024.
| Incentive | Metric | Weighting | Target | Actual/Payout | Vesting |
|---|---|---|---|---|---|
| Annual bonus (cash) | Discretionary; Board-determined | Not disclosed | Target up to 25% of base salary | 2023 payout $135,000 | Annual |
| RSUs (2024 grant) | Service-based | Not disclosed | 100,000 units | N/A (service vesting) | Equal quarterly installments over FY2024 |
| Options (2024 grant) | Service-based | Not disclosed | 100,000 options; strike = 110% of prior-day close | N/A (service vesting) | 100% vests 01/01/2025; 5-year term |
| Legacy options (2018 plan) | Service-based | — | 30,000 @ $50 | Canceled 04/23/2024 | Prior schedule; canceled |
Equity Ownership & Alignment
| As-of date | Shares beneficially owned | % of outstanding | Notes |
|---|---|---|---|
| Nov 18, 2024 | 497,425 | 17.13% | Includes 39,400 shares held by MGOTEAM LLC over which Ojeda shares control with Virginia Hilfiger. |
| Dec 31, 2024 | 497,425 | 5.4% | Includes same 39,400 via MGOTEAM LLC; lower % reflects higher shares outstanding. |
| Pledging / Hedging | — | — | Insider trading policy prohibits holding in margin accounts, pledging as collateral, and hedging (options, swaps, collars); proxy also states no known arrangements (including pledges) that may result in a change in control. |
| Director fees | — | — | Only independent directors received director compensation; employee-directors (incl. CEO) did not. |
Options and RSUs outstanding/vesting:
- 12/31/2023: 10,000 options exercisable; 20,000 unexercisable @ $50, exp. 01/12/2028; all 30,000 later canceled on 04/23/2024. RSUs outstanding at 12/31/2023 vested on 02/17/2024.
- 2024 grants: 100,000 RSUs (quarterly vesting FY2024); 100,000 options (vest 01/01/2025).
Employment Terms
| Term | Key details |
|---|---|
| Agreement | Two-year Executive Employment Agreement dated July 19, 2022; amended and restated on Oct 13, 2022; Amendment No.1 effective Mar 27, 2024 (compensation and equity updated). |
| Base salary | $325,000 per annum (effective 2024 amendment). |
| Bonus | Discretionary annual performance bonus, target up to 25% of base salary, based on predetermined goals set by the Board. |
| Benefits/perquisites | Executive benefits; life and disability insurance premiums reimbursed up to $10,000 annually; $1,000/month automobile allowance. |
| Equity | 100,000 RSUs (3/27/2024) vesting quarterly in FY2024; 100,000 stock options (5-year term) vesting 1/1/2025 at 110% of prior-day close. |
| Severance (without cause / good reason) | Accrued amounts; plus 12 months of base salary and COBRA, and a lump-sum payment equal to 100% of base salary. |
| Clawback | Company-wide clawback policy covering current/former executive officers for excess incentive compensation upon an accounting restatement (3-year look-back). |
| Insider trading | Pre-clearance, blackout windows; prohibits short sales, publicly-traded options, hedging, and pledging/margin. |
Board Governance
- Board/committee roles: Director since November 2021; serves as Chairman of the Board; not listed on any board committees (Audit, Compensation, Nominating).
- Independence and structure: Board composed of a majority of independent directors; CEO is not independent and also chairs the board. Audit (Chair: Ping Rawson), Compensation (Chair: Obie McKenzie), and Nominating & Governance (Chair: Jeffrey Lerner) committees are composed of independent directors; Audit chair is a financial expert.
- Meeting attendance: 2023 attendance was 100% for directors in the periods served; Board met five times and acted by unanimous written consent three times in 2023.
- Dual-role implications: CEO + Chairman concentrated authority is partially mitigated by majority independent board and independent committee chairs.
Executive & Director Compensation Summary (multi-year)
| Component | 2022 ($) | 2023 ($) |
|---|---|---|
| Salary | 118,750 | 180,000 |
| Bonus | — | 135,000 |
| Stock awards (RSUs) | — | 45,453 |
| Option awards | — | 292,636 |
| All other comp (perqs) | 7,807 (auto/insurance) | 1,307 (life insurance premium) |
| Total | 126,557 | 654,396 |
Related Party Transactions and Controls
- Loans/settlements: In 2022, the Company borrowed $39,642 from and paid $21,976 to the Chairman and CEO; in 2023, $52,404 was paid to the CEO (no borrowings in 2023). Accounts payable owed to the CEO was $423 as of 12/31/2023.
- Policy controls: Audit Committee pre-approves related-party transactions; Insider Trading Policy and Clawback Policy in place; Board committees are independent.
Risk Indicators & Red Flags
- Dual role (CEO + Chairman) and discretionary bonus structure (no disclosed quantitative performance metrics) increase reliance on board oversight.
- Legacy options granted at high strike ($50) were canceled on 04/23/2024; subsequent 2024 grants reset LTI structure (100k RSUs and 100k options), which may reduce risk but indicates prior awards were likely out-of-the-money.
- Prior related-party loans were cleared but underscore historical reliance on executive financing in 2022.
Investment Implications
- Alignment and potential supply: Ojeda’s beneficial ownership is significant (497,425 shares; 17.13% as of 11/18/2024; 5.4% as of 12/31/2024 due to share count changes), and hedging/pledging is prohibited—supporting alignment. However, 100,000 RSUs vesting across 2024 and 100,000 options vesting on 01/01/2025 could add incremental selling capacity upon vesting.
- Pay-for-performance calibration: 2024 package formalizes target bonus (25% of base) and introduces sizeable RSU and option grants with time-based vesting; lack of disclosed quantitative performance metrics for bonus suggests oversight will rely on board discretion rather than objective targets.
- Governance balance: CEO also serves as Chairman, but majority independent board, fully independent key committees, and an audit chair identified as a financial expert are mitigating governance features.
- Severance economics: Without-cause/good reason terms include 12 months of salary and COBRA plus an additional lump sum equal to 100% of base salary—above a simple 1x multiple—potentially elevating change/transition costs.
- Historical related-party activity has been addressed; ongoing clawback and insider trading policies reduce reputational and compliance risk.