F. Porter Stansberry
About F. Porter Stansberry
Founder of MarketWise; currently a Class III director. Age 52; served on the MarketWise board since September 2023. Previously served as Chief Executive Officer and Chairman (Oct 2023–Aug 2024) and earlier as Chairman until 2020. Education: B.A. in Political Science and Government (University of Florida). Founded Porter & Company (investment advisory boutique) and OneBlade, Inc.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| MarketWise, Inc. | Chief Executive Officer & Chairman | Oct 2023 – Aug 9, 2024 | Resigned CEO/Chair due to failed acquisition negotiations of Porter & Co; remained director |
| MarketWise, Inc. | Chairman of the Board | Until 2020 | Founder; prior governance leadership |
| MarketWise, Inc. | Director (Class III) | Since Sept 2023 (rejoined board) | Company did not expect committee service at appointment |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Porter & Company, LLC | Founder/Owner | Apr 2022 – present | Revenue share arrangements with MarketWise operating companies; in 2024 Porter & Co. paid MarketWise approx. $2.6M; deal to sell to MarketWise terminated Aug 2024 |
| Stansberry Asset Management (SAM) | Indirect passive owner | Ongoing | Licensing/solicitation fees accrued to MarketWise brands; 2024 fees approx. $469K |
| OneBlade, Inc. | Founder | Ongoing | Consumer brand; not a MarketWise subsidiary |
Board Governance
- Independence: Not identified as independent by the Board; independent directors are Van Simmons, Matthew Smith, Glenn Tongue, and Matthew Turner .
- Committee assignments: Not listed on Audit, Compensation, or Nominating & Governance committees; current members exclude Stansberry .
- Attendance: In 2024 there were 8 Board meetings; each director attended at least 75% of Board and committee meetings; 7 directors attended the 2024 annual meeting. In 2023 there were 12 Board meetings; each director attended at least 75%; 9 directors attended the 2023 annual meeting .
- Leadership: Board currently separates CEO and Chairman roles; Lead Independent Director is Glenn Tongue .
Fixed Compensation
| Metric | 2023 | 2024 |
|---|---|---|
| Cash director fees (earned) | $6,522 | $23,478 |
| Annual director fee (program level at time) | $60,000 (amended Aug 2, 2023) | $60,000 (current program) |
| Committee chair/membership fee schedule (program) | Audit Chair $20K; Comp Chair $15K; N&G Chair $9K; Audit member $9K; Comp member $6K; N&G member $5K | Audit Chair $20K; Comp Chair $15K; N&G Chair $12K; Audit member $9K; Comp member $6K; N&G member $5K |
| Chairman/Lead Independent fee (program) | Chairman $90K; Lead $10K (later amended to Chairman $30K; Lead $15K) | Chairman $30K; Lead $15K |
Performance Compensation
| Equity Component | 2023 | 2024 | 2025 Program Terms |
|---|---|---|---|
| Annual RSU grant value (non-employee directors) | $125,000–$135,000 program target; Stansberry awarded $101,030 in 2023 (prorated) | Stansberry: $0 stock awards; program continues | Annual RSU grant value $125,000 (Chair/Lead $135,000); vests in full by earlier of next annual meeting or first anniversary |
| Unvested RSUs outstanding at FYE | 73,209 (vest schedule: full vest on earlier of next annual meeting or first anniversary) | — (not listed) | Future grants per program; number of shares depends on grant-date price |
No performance-based equity metrics disclosed for directors; RSUs are time-based. Anti-hedging policy applies to directors and prohibits hedging/monetization transactions .
Other Directorships & Interlocks
| Entity | Relationship Type | Economic Flows (most recent disclosed) |
|---|---|---|
| Stansberry Asset Management (SAM) | Licensing/solicitation fees to MarketWise subsidiaries; Stansberry an indirect, passive owner | $469K accrued fees in 2024 |
| Monument & Cathedral Holdings affiliates | Leases and marketing/copywriting services involving related parties | ~$1.7M lease payments; ~$0.9M marketing/copywriting in 2024 |
| Porter & Company | Revenue-share arrangements with MarketWise operating companies | Porter & Co paid MarketWise ~$2.6M in 2024; earlier 2022–mid-2023 flows disclosed |
Expertise & Qualifications
- Founder/operator with 25+ years in financial publishing; prior CEO/Chair experience at MarketWise .
- Entrepreneurial track record (Porter & Co.; OneBlade) .
- Governance familiarity with MarketWise’s multi-brand structure and direct-response marketing. Not designated as audit/financial expert; not on committees .
Equity Ownership
| Metric | Apr 12, 2024 | Apr 17, 2025 |
|---|---|---|
| Class A shares owned (number; % of Class A) | 3,991,467; 9.2% | 203,233; 7.7% (post reverse split) |
| Class B shares owned (number; % of Class B) | 56,753,188; 19.7% | 2,837,659; 20.8% |
| Combined voting power (%) | 18.4% | 18.7% |
| Unvested RSUs (director) at FYE prior period | 73,209 (Dec 31, 2023) | — |
Structural alignment: Significant voting stake via Class B shares. No disclosure of shares pledged; anti-hedging policy in place .
Governance Assessment
- Independence and conflicts: Not independent per Board; multiple related-party exposures (SAM ownership, Porter & Co. revenue shares). Attempted sale of Porter & Co. to MarketWise, later terminated, culminated in his CEO/Chair resignation while retaining board seat. These are material conflict-of-interest indicators requiring robust recusal and oversight by independent directors. RED FLAGS: Not independent; related-party revenue-sharing; aborted self-affiliated acquisition .
- Board effectiveness: Not on Audit/Comp/N&G committees, which mitigates day-to-day influence over financial oversight and pay decisions; independent committees are in place and met regularly (Audit: 4 meetings in 2024; Compensation: 7; N&G: 4) .
- Attendance/engagement: Met Board policy thresholds; annual meeting attendance strong; supports baseline engagement .
- Pay-for-performance: Director pay primarily cash retainer plus time-based RSUs; no disclosed performance metrics for directors. As CEO (2023), salary was $1, with eligibility for discretionary bonus and severance protections; resignation (Aug 2024) ended executive status .
- Ownership alignment: High voting control confers influence; alignment via long-term stake but necessitates strict related-party governance due to dual roles as founder and external business owner (Porter & Co., SAM). TRA structure also directs 85% of realized tax benefits to MarketWise Members (including significant holders), a cash flow consideration for minority shareholders .
Implications: Investors should monitor independent committee control over related-party dealings (marketing revenue shares, leases, SAM arrangements), enforcement of recusal, and any future proposals involving Porter-affiliated entities. Strong disclosure exists; the Board’s independence framework and lead independent director role are positives, but conflict mitigation remains critical .