Lisa Meyer
About Lisa Meyer
Lisa Meyer, 60, serves as Chief Financial Officer, Treasurer and Secretary of NewLake Capital Partners (NLCP) and joined the company in June 2022; she is a CPA (NY) with 30 years’ experience across public and private REITs, real estate finance, and Big Four audit, including senior roles at Western Asset Mortgage Capital (President/CFO/Treasurer), FTI Consulting (Managing Director), NorthStar Realty Finance (CAO/CFO), and Ernst & Young (Senior Manager) . NLCP emphasizes pay-for-performance alignment through RSUs and PSUs with three‑year performance periods tied to relative total shareholder return (TSR) versus a peer group and absolute compounded stock price growth, with payouts from 0% to 200% . Company performance context in her tenure includes a conservative balance sheet (<0.2x Debt/EBITDA), 82% AFFO payout ratio as of 9/30/2025, and cumulative dividend growth of 79% since the IPO, supporting stable cash returns while maintaining low leverage .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Western Asset Mortgage Capital Corporation (NYSE: WMC) | President, CFO & Treasurer (President/CFO role since Oct 2021; CFO & Treasurer since Jun 2016; Interim CFO starting Nov 2015) | 2015–2021+ | Led public mortgage REIT finance and reporting as President/CFO/Treasurer . |
| FTI Consulting (NYSE: FCN) – Real Estate Solutions | Managing Director | 2011–2015 | Advised REITs and real estate firms on GAAP/SEC matters, financial reporting, and technical accounting . |
| NorthStar Realty Finance (NYSE: NRF) | Chief Accounting Officer; Interim CFO (2011) | 2005–2011 | Directed accounting; served as interim CFO; CFO/CAO of two public non‑traded REITs (2011) . |
| Ernst & Young LLP – Global Real Estate Group | Assurance Senior Manager | 1994–2005 | Managed complex audit/accounting issues for public and private real estate/finance clients . |
External Roles
No external public company board or committee roles are disclosed for Lisa Meyer in NLCP’s filings .
Fixed Compensation
| Metric | 2023 | 2024 |
|---|---|---|
| Base Salary ($) | $350,000 | $350,000 |
| Target Bonus (%) | — | 71% of salary |
| Target Bonus ($) | — | $250,000 |
| Actual Bonus Paid ($) | $236,000 | $239,596 |
| Stock Awards ($) | $108,656 | $263,045 |
| Total Compensation ($) | $694,656 | $852,641 |
Performance Compensation
Incentive Framework (PSUs)
| Metric | Definition | Weighting | Target | Actual | Payout Range | Performance Period |
|---|---|---|---|---|---|---|
| Relative TSR vs peer group | Earnout based on NLCP TSR relative to a defined peer set | — | — | — | 0%–200% | 3 years |
| Absolute stock price CAGR | Earnout based on compounded annual stock price growth | — | — | — | 0%–200% | 3 years |
NLCP states C‑suite incentive pay includes performance‑based stock under the 2021 Equity Incentive Plan, furthering alignment with shareholders .
Service-based RSUs – Scheduled Vesting
| RSU Tranche (shares) | Vesting schedule |
|---|---|
| 915 | Ratable vesting on March 10, 2026 |
| 3,106 | Ratable vesting on February 28, 2026 and 2027 |
| 4,507 | Ratable vesting on February 15, 2026, 2027 and 2028 |
Award Grants Referenced (disclosed counts)
| Year | RSUs Granted (count) | PSUs Granted (count) |
|---|---|---|
| 2023 | 2,745 | 6,405 |
Equity Ownership & Alignment
| Item | Value |
|---|---|
| Shares beneficially owned | 4,211; less than 1% of outstanding |
| Unvested RSUs (as of 12/31/2024) | 6,488 units; $113,540 market value at $17.50/share |
| Unearned PSUs (as of 12/31/2024) | 17,275 units; $302,313 market/payout value at $17.50/share |
| Shares pledged as collateral | None for any executive officer or director |
| Hedging/pledging policy | Hedging and pledging prohibited for directors, officers, employees |
| Ownership guidelines | Specific numeric executive ownership guidelines not disclosed |
Employment Terms
| Provision | Key terms |
|---|---|
| Role & start | CFO, Treasurer & Secretary; joined NLCP in June 2022 |
| Term & auto-renewal | One‑year term extended beginning June 13, 2025; auto‑renewal each anniversary unless 90‑day notice given |
| Base salary | $350,000 annually; subject to committee review |
| Target annual bonus | $250,000; payable based on Company and individual goals |
| Target annual equity grant | $250,000 under NLCP’s 2021 Equity Incentive Plan |
| Severance (without cause / good reason) | One times (base salary + target bonus); pro‑rated target bonus for year of termination; 18 months COBRA; treatment of outstanding equity per grant instruments |
| Non‑renewal (post change‑in‑control) | COBRA for 18 months; additional payment equal to one times (base + target bonus) multiplied by fraction: (12 minus months from CoC to end of term) / 12 |
| Good reason definition | Material diminution of position/authority/duties or reduction in salary/bonus opportunity; company cure right after notice |
| Restrictive covenants | Non‑compete and non‑solicit during employment and for one year post‑termination; confidentiality survives termination |
| Clawback | Company clawback policy compliant with Rule 10D‑1; recovery of incentive comp if restatement required, regardless of misconduct |
| Insider trading policy | Prohibits short‑term/speculative transactions, derivatives, margin, etc.; Rule 10b5‑1 plans permitted per policy |
| Section 280G | Company and executive will cooperate to mitigate 280G excise/deduction impacts if parachute payments exceed safe harbor |
Investment Implications
- Compensation alignment: PSUs tied to relative TSR and absolute stock price CAGR with a 0%–200% payout range and three‑year horizons align incentives with long‑term shareholder value creation; service‑based RSUs provide retention ballast .
- Retention risk and change‑in‑control economics: Auto‑renewing one‑year term reduces abrupt expiry risk; severance equals 1x salary+target bonus with 18 months COBRA on qualifying separation, and an additional formulaic payment on non‑renewal post‑CoC—economics are meaningful but not excessive versus typical REIT norms .
- Insider selling pressure: Multiple RSU tranches vest across 2026–2028; combined with anti‑hedging/anti‑pledging policies, near‑term mechanical selling pressure appears limited absent separate Rule 10b5‑1 plans or Form 4 activity not referenced in proxy materials .
- Ownership alignment: Direct holdings are modest (<1%), but sizable unvested RSUs/PSUs and a formal clawback policy strengthen alignment and downside accountability .
- Governance context: Independent compensation committee using an external consultant (Lyons, Benenson & Company) and EGC status (no say‑on‑pay votes required) suggest structured oversight with reduced shareholder advisory signals; committee leadership transitions effective June 5, 2025 put the CFO under refreshed oversight .
Lisa Meyer’s package is a balanced mix of fixed cash and at‑risk equity, with clearly defined severance and restrictive covenants and performance‑linked PSUs that should align her incentives with long‑term TSR outcomes for NLCP shareholders .