Francisco Rivas-Vasquez
About Francisco Rivas-Vasquez
Francisco Rivas‑Vásquez is Chief Financial Officer of MSP Recovery, Inc. (MSPR). He was appointed CFO on November 1, 2023 following an offer letter dated August 31, 2023, and is age 46 as of April 2025 . He holds an M.S. in Accountancy from the University of Notre Dame and a B.B.A. from the University of Miami, with prior leadership roles in transaction advisory and deal advisory at BDO and KPMG and earlier audit experience at EY . The company has not disclosed CFO-specific pay-for-performance metrics (TSR, revenue growth, EBITDA growth) tied to his compensation in public filings; his bonus eligibility is capped at 20% of base salary without defined metric weightings in the offer disclosure .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| BDO USA LLP | Transaction Advisory Services Managing Director | 2022–2023 | Led financial diligence and advisory, relevant to MSPR’s complex financings and restructuring initiatives . |
| KPMG LLP | Deal Advisory Director; Manager/Senior Associate | 2005–2022 | Directed M&A advisory and deal support, strengthening finance leadership and controls at MSPR . |
| Ernst & Young LLP | Audit Senior/Staff Accountant | 2002–2005 | Built audit and reporting rigor foundational to public company CFO responsibilities . |
External Roles
No current external board or public company roles disclosed for Rivas‑Vásquez .
Fixed Compensation
| Component | 2023 Setup | 2024 Status | Notes |
|---|---|---|---|
| Base Salary | $400,000 (annual) | Not separately disclosed | Offer letter set salary upon CFO appointment; subsequent annual paid amounts for CFO not itemized in 2024 proxy table . |
| Signing Bonus | $25,000 (one-time) | N/A | Paid per offer letter . |
| Target Bonus % | Up to 20% of base salary | Not separately disclosed | Eligibility set; payout metrics not specified . |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Annual bonus | Not disclosed | Not disclosed | Not disclosed | Up to 20% of base salary eligibility | Cash; no vesting terms disclosed . |
- Company filings do not specify CFO bonus performance metrics (e.g., revenue, EBITDA, TSR) or payouts to date .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial Ownership (Class A) | “—” listed; less than 1% per footnote; no shares reported for Rivas‑Vásquez in 2025 beneficial ownership tables . |
| Beneficial Ownership (Class V) | “—”; Class V are non‑economic voting shares; none reported for Rivas‑Vásquez . |
| Vested vs. Unvested | Not disclosed; no CFO-specific equity awards disclosed . |
| Options (Exercisable/Unexercisable) | None disclosed for CFO . |
| Shares Pledged | Company prohibits pledging and hedging for directors and officers under its governance and trading policies . |
| Ownership Guidelines | No executive stock ownership guidelines disclosed in filings; corporate highlights emphasize anti‑hedging/pledging rather than ownership multiples . |
Employment Terms
| Term | Detail |
|---|---|
| Appointment Date | November 1, 2023 (CFO and principal financial officer) . |
| Offer Letter | August 31, 2023; $400,000 base, $25,000 sign‑on, bonus eligibility up to 20% . |
| Severance | Not disclosed for CFO; CEO/CLO severance terms disclosed separately, but not applicable to CFO . |
| Change‑of‑Control | Not disclosed for CFO . |
| Clawback | Company references insider trading and governance policies; specific compensation clawback provisions not detailed in cited filings . |
| Non‑Compete/Non‑Solicit | Not disclosed for CFO . |
| Certifications | CFO signed SOX 302/906 certifications for annual and quarterly reports (Q1 2025 and FY 2024), evidencing control responsibility . |
Compensation Committee Analysis
- Committee composition: Arrigo (Chair) and Assapimonwait; fully independent .
- Consultant: Pearl Meyer engaged since December 2022; independence assessed and determined with no conflicts .
- Scope: Oversees executive pay philosophy, goals, equity plans, risk assessment of pay practices; authority to hire advisers and administer plans .
Performance & Track Record
- CFO tenure and filings: Rivas‑Vásquez has served as CFO since November 2023 and has signed MSPR’s NT 10‑K (March 31, 2025), 10‑K (April 15, 2025), NT 10‑Q (November 14, 2025), and Q1 2025 10‑Q certifications, indicating accountability for disclosure controls and financial reporting .
- Company operational narrative emphasizes building data/analytics platforms (Chase to Pay; Palantir clearinghouse; EHR) but does not tie CFO compensation to specific operational KPIs in disclosed documents .
Risk Indicators & Red Flags (Executive‑Relevant)
- Hedging/pledging prohibitions lower misalignment and liquidity risk from margin pledges .
- Beneficial ownership indicates limited personal equity exposure for CFO (no reported shares), which may reduce alignment with equity holders .
- Related‑party complexities and financing arrangements (e.g., Virage warrants, founder loans, law firm arrangements) increase governance scrutiny; however, no CFO‑specific related‑party interests are disclosed .
Equity‑Linked Overhang Context (Company Level)
- Virage warrants and potential dilution mechanics are significant at the company level, but are not tied to CFO compensation; they can affect investor sentiment and capital structure during CFO tenure .
Investment Implications
- Pay‑for‑performance: CFO compensation is primarily cash with a modest variable component (20% bonus cap) and no disclosed equity grants, limiting direct alignment with stock price or TSR; absence of disclosed performance metrics reduces transparency on incentive calibration .
- Insider selling pressure: No reported CFO share ownership and prohibitions on pledging/hedging suggest low near‑term selling pressure from the CFO personally .
- Retention risk: A market‑competitive base with a small signing bonus but no disclosed severance or CoC protection could raise retention risk if external opportunities arise; lack of equity awards may reduce long‑term retention hooks .
- Governance: Active Compensation Committee with independent consultant is a positive; however, broader related‑party and capital structure complexities may demand strong CFO controls and disclosure rigor, reflected in SOX certifications .