Ricardo Rivera
About Ricardo Rivera
Ricardo Rivera, age 53, is Chief Operating Officer at MSP Recovery and previously served as Chief of Staff (Sep 2019–Jul 2021) and Interim CFO (Jun 29, 2023–Nov 1, 2023). He holds a Master’s in Professional Accounting and a BBA in Accounting from the University of Miami, and prior roles include COO & CFO at Transatlantic Power Fund Management, LLC (a subsidiary of Transatlantic Power Holdings LLC) . Company performance context: in Q2 2025 MSP Recovery’s total revenue was $0.54M vs $0.34M in Q2 2024 (+59%), operating loss narrowed 8% YoY while net loss increased 14% (reflecting higher interest expense and lower change in fair value of liabilities) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| MSP Recovery, Inc. | Chief of Staff | Sep 2019–Jul 2021 | Built operational cadence pre‑public listing; supported litigation/data operations |
| MSP Recovery, Inc. | Interim Chief Financial Officer | Jun 29, 2023–Nov 1, 2023 | Oversaw SEC reporting and controls during transition period |
| Transatlantic Power Fund Management, LLC | COO & CFO | Not disclosed | Operational and financial leadership for energy investment subsidiary |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Not disclosed in MSPR filings | — | — | — |
Fixed Compensation
| Metric | 2023 | 2024 |
|---|---|---|
| Base Salary ($) | $600,000 | $600,000 |
| Bonus ($) | $75,000 | — |
| Stock Awards ($) | — | — |
| Option Awards ($) | — | — |
| Non‑Equity Incentive ($) | — | — |
| All Other Compensation ($) | $7,665 (benefits/insurance) | $7,835 (benefits/insurance) |
| Total Compensation ($) | $682,665 | $607,835 |
Performance Compensation
- No equity awards or non‑equity incentive plan payouts were disclosed for Rivera in 2023–2024; one cash performance bonus was paid in 2023 without disclosed metric targets .
| Incentive Type | Metric | Weighting | Target | Actual/Payout | Vesting |
|---|---|---|---|---|---|
| Cash Performance Bonus (2023) | Not disclosed | N/A | Not disclosed | $75,000 | N/A |
Equity Ownership & Alignment
| Metric | As of Jun 13, 2025 | As of Jul 9, 2025 |
|---|---|---|
| Class A Shares Owned | 75 (<1%) | 75 (<1%) |
| New Warrants (underlying) | 16 shares underlying New Warrants | 16 shares underlying New Warrants |
| Vested vs Unvested | Not disclosed | Not disclosed |
| Stock Ownership Guidelines | Committee reviews executive ownership; specific guideline not disclosed | |
| Hedging/Pledging | Company policy prohibits hedging, pledging, short sales, and margin accounts | Company policy prohibits hedging, pledging, short sales, and margin accounts |
New Warrants are a dividend instrument exercisable only in lots of 625 to purchase whole shares (each warrant for 1/625 of a share) .
Employment Terms
- Current Role/Start: Joined MSP Recovery in Sep 2019; Chief of Staff until Jul 2021; serves as COO and was Interim CFO Jun 29, 2023–Nov 1, 2023 .
- Contract, Severance, Change‑of‑Control: No specific employment agreement, severance multiples, or change‑of‑control terms for Rivera are disclosed; employment agreements disclosed only for CEO and Chief Legal Officer .
- Clawbacks/Ownership Compliance: No clawback policy disclosure for executives; ownership guideline specifics not disclosed; trading policy includes blackout and pre‑clearance for insiders .
Additional Context (Company Capital & Liquidity)
- Liquidity strain: MSP disclosed unpaid director cash retainers due June 30, 2025 totaling $80,750, to be paid when liquidity allows .
- Reverse Stock Split authorization (1:2 to 1:7) to address Nasdaq $1.00 bid price compliance and capital markets access .
- VRM Warrants and potential dilution scenarios outlined; not insider‑specific to Rivera, but relevant to equity supply and voting dynamics .
Investment Implications
- Pay‑for‑performance alignment appears limited: Rivera’s compensation is cash‑heavy with no equity awards in 2023–2024 and minimal personal share ownership (<1%), reducing direct alignment with shareholder returns and decreasing vest‑related selling pressure .
- Retention risk and incentives: Absence of disclosed long‑term equity/PSU metrics and vesting schedules suggests fewer retention hooks; bonus metrics are undisclosed, limiting transparency on performance levers .
- Trading signals: Company‑wide prohibitions on hedging/pledging mitigate alignment risk, but macro equity overhang (reverse split and VRM warrant dynamics) may dominate stock flow, independent of Rivera’s negligible holdings .
- Execution track record: Rivera’s operational tenure spans COO, Chief of Staff, and Interim CFO roles through complex restructurings and heavy reporting periods—useful for continuity, though company financials remain challenged (Q2 2025 net loss and high claims amortization/interest expense) .