Erik Mickels
About Erik Mickels
Erik Mickels is Chief Operating and Financial Officer (COFO) of MarketWise, appointed COO on July 31, 2025 while retaining the CFO role he has held since August 2023; he is 49 years old . He previously spent 9 years at Trilogy International Partners (Group CFO/SVP 2016–2023; VP Finance & CAO 2015–2016; VP & Corporate Controller 2014–2015) and 14 years at KPMG; he holds a B.S. in Accounting from Hillsdale College, completed Harvard Business School’s Advanced Management Program, and is a CPA . Recent company communications position him as a transformation-oriented operator with experience leading acquisitions and the sale of a billion‑dollar international subsidiary, emphasizing cost discipline and value creation . No company TSR, revenue growth, or EBITDA growth metrics specific to his tenure are disclosed in the filings reviewed.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Trilogy International Partners | Group Chief Financial Officer & SVP | 2016–2023 | Led finance through strategic transformations; experience includes guiding acquisitions and a sale of a billion‑dollar international subsidiary; delivered cost discipline and value for shareholders |
| Trilogy International Partners | VP Finance & Chief Accounting Officer | 2015–2016 | Senior finance leadership |
| Trilogy International Partners | VP & Corporate Controller | 2014–2015 | Corporate controllership and reporting |
| KPMG LLP | Senior positions | 2000–2014 | Audit and advisory leadership experience |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| None disclosed in MarketWise proxy officer biographies | — | — | No public company directorships noted in executive officer section reviewed |
Fixed Compensation
Multi‑year summary (USD):
| Metric | 2023 | 2024 |
|---|---|---|
| Base Salary | $171,154 | $1,000,000 (base increased from $500,000 to $1,000,000 effective retro to Jan 1, 2024) |
| Target Bonus % of Salary | n/a (letter guaranteed min $500k for 2023) | 100% target; 50% threshold; 200% max of base salary |
| Actual Bonus Paid (Cash) | $500,000 | $500,000 (plus longevity $265) |
| Stock Awards (Grant‑date FV) | $690,000 | $1,466,250 |
| All Other Compensation | $159,472 (incl. relocation $99,452; temp housing $60,020) | $233,121 (incl. relocation $200,548; temp housing $32,573) |
| Total Compensation | $1,520,626 | $3,199,636 |
Notes:
- 2024 base salary moved to $1,000,000 as of Jan 1, 2024; 2024 bonus paid $500,000 .
- 2024 bonus eligibility existed alongside a relocation bonus and nominal longevity award .
Performance Compensation
Annual bonus structure and payout:
| Metric/Program | Weighting | Target | Actual/Payout | Vesting/Payment |
|---|---|---|---|---|
| Annual bonus (company KPIs; specific metrics not disclosed) | Not disclosed | 100% of base salary at target; 50% at threshold; 200% at superior performance | 2024: $500,000 cash; 2023: $500,000 cash (per letter minimum) | May be paid in cash and/or RSUs under the 2021 Plan |
Equity awards (as of FY‑end 12/31/2024):
| Grant Date | Type | Shares Unvested (#) | Market Value at 12/31/2024 | Vesting Schedule |
|---|---|---|---|---|
| 7/1/2024 | RSUs | 32,894 | $373,676 (based on $11.36 close) | 25% annually on each anniversary of 7/1/2024, subject to continued service |
| 3/15/2024 | RSUs | 18,750 | $213,000 | 25% annually on each anniversary of 3/15/2024, subject to continued service |
| 9/8/2023 (initial grant) | RSUs | 12,500 | $142,000 | 50% vested upon relocation to Baltimore area by 12/31/2023; remaining vests 3/15/2025 and 3/15/2026 |
Additional letter‑based incentives (terms summary):
- 2023 minimum cash bonus: $500,000; 2024 minimum cash bonus: $600,000 if net income >$90m; otherwise $500,000; plus target annual equity award of $750,000 (superseded by revised bonus structure in 2024) .
- Share price milestone award: additional 100,000 RSUs if Class A stock ≥$120 for 20 consecutive trading days within 4 years of effective date; would vest quarterly over 4 years; the later annual bonus structure supplants future eligibility for this award .
- Company effected 1‑for‑20 reverse split on April 2, 2025; the Outstanding Equity Awards table reflects 25,000 initial RSUs post‑split, aligning actual grants with adjusted share counts .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial Ownership (4/17/2025) | 15,852 Class A shares; less than 1% of outstanding |
| Unvested RSUs at 12/31/2024 | 64,144 unvested (32,894 + 18,750 + 12,500) |
| RSUs outstanding under plan (4/17/2025) | 53,206 RSUs (plan summary) |
| Options/SARs | None reported for Mickels; outstanding awards are RSUs |
| Hedging/Pledging | Insider Trading Policy prohibits hedging/monetization transactions; no pledging disclosure identified |
| Ownership Guidelines | Not disclosed in the reviewed materials |
Vesting cadence and potential supply overhang:
- Annual vest dates tied to March 15 and July 1 grants may create incremental unlocks around those anniversaries each year, subject to continued service .
Employment Terms
- Appointment and role: CFO since August 2023; appointed COO effective July 31, 2025 (retained CFO role); no compensation changes with COO appointment; no related‑party transactions disclosed .
- Base salary: Initially $500,000 under 2023 letter; increased to $1,000,000 effective retroactive to January 1, 2024 .
- Bonus program: From 2024 onward, annual bonus targeted at 100% of salary (50% threshold; 200% max), payable in cash and/or RSUs; if threshold metrics not achieved, no bonus; this structure replaces prior guaranteed bonuses and certain future equity awards .
- Equity and relocation: Initial RSU grant with relocation‑based vesting; relocation bonus $300,000 earned over 12 months; temporary housing up to $10,000/month; actual relocation payments disclosed in 2023–2024 compensation .
- Severance (Executive Severance Plan): If terminated without Cause or resigns for Good Reason outside CIC window: lump‑sum 1.25× base salary; pro‑rated target bonus; healthcare for 18 months; continued vesting of time‑based equity (subject to release and covenants) . During CIC protection period (from 3 months prior to CIC through 24 months after): 1.5× base salary; 1.5× target bonus; healthcare for 18 months; accelerated vesting of time‑based equity (subject to release and covenants) .
- Restrictive covenants: 18‑month post‑termination non‑compete and non‑solicitation; perpetual confidentiality required for benefits .
- Clawback: Awards subject to company clawback policy .
- Tax gross‑ups: Company states it does not provide tax gross‑ups to NEOs .
- Anti‑hedging: Hedging and monetization transactions prohibited .
Performance & Track Record
- Strategic execution themes: Company communications emphasize Mickels’ role in operational rigor, cost discipline, M&A execution, and a successful sale of a billion‑dollar international subsidiary in prior roles .
- Investor engagement: As CFO/COFO, he regularly interfaces with investors and conferences (e.g., UBS Fintech One‑on‑One, UBS SMID‑Cap) .
Compensation Committee Context
- Compensation Committee members: Van Simmons (Chair), Matthew Smith, Glenn Tongue .
- 2021 Incentive Award Plan: Provides for RSUs, options, SARs; includes broad performance criteria the committee may apply; shareholder‑approved amendment in 2025 increased share reserve; awards subject to clawback and standard plan governance .
Investment Implications
- Pay‑for‑performance alignment: 2024 structure ties bonus to company KPIs with a 0–200% payout curve, but specific metrics and weightings are undisclosed; 2024 cash bonus was $500,000 vs. a $1,000,000 base, indicating a 50% of‑salary payout and a significant time‑vested equity component ($1.47M), tilting mix toward fixed and time‑based compensation .
- Retention risk: Non‑compete/non‑solicit (18 months) and severance economics (1.25× base + pro‑rated bonus; CIC double‑trigger with 1.5× multiples and equity acceleration) provide meaningful retention and downside protection, reducing near‑term flight risk .
- Vesting‑driven supply: Annual March 15 and July 1 vesting cycles from 2023–2024 grants may introduce periodic incremental float; monitor Form 4 filings around these dates for potential selling pressure indicators .
- Ownership alignment: Direct ownership is modest (<1% voting power); alignment relies on unvested RSUs and bonus‑linked RSU optionality, with hedging prohibited (no pledging disclosure identified) .
- Governance safeguards: Clawback policy in place; no tax gross‑ups; no related‑party transactions disclosed for Mickels—favorable for shareholder alignment .
Sources: MarketWise 2025 DEF 14A (executive bios, compensation tables, plan terms, severance, governance) and 8‑K/press releases regarding appointment and background .