Nicholas Radesca
About Nicholas Radesca
Nicholas Radesca, age 59, is a Class I independent director at American Strategic Investment Co. (NYC), appointed December 28, 2023, elected by stockholders May 29, 2024, with a term through the 2027 annual meeting . He is a licensed CPA in New York and Virginia, designated by the Board as an “audit committee financial expert,” and holds a B.S. in accounting from New York Institute of Technology and an MBA from California State University, East Bay .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| American Strategic Investment Co. (NYC) | Interim CFO & Treasurer | Jun 2015 – Nov 2017 | Oversaw finance during external advisory structure |
| AR Global Investments, LLC | Chief Financial Officer | Jan 2014 – Nov 2017 | Parent to NYC’s Advisor and Property Manager; finance leader |
| Global Net Lease, Inc. (GNL) | Chief Financial Officer | Jan 2017 – Oct 2017 | Public REIT CFO experience |
| American Finance Trust, Inc. (AFIN) | CFO, Treasurer & Secretary | Nov 2015 – Nov 2017 | Executive officer roles; REIT finance |
| Solar Capital Ltd. and Solar Senior Capital Ltd. | CFO & Corporate Secretary | Mar 2008 – May 2012 | Public BDCs; SEC reporting oversight |
| iStar Financial Inc. | Chief Accounting Officer | 2006 – Feb 2008 | Oversaw accounting, tax and SEC reporting |
| Fannie Mae; Del Monte Foods; Providian Financial; Bank of America | Senior accounting/financial reporting roles | Various | Financial reporting and accounting experience |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| G&P Acquisition Corp. | Independent Director | Jan 2021 – Dec 2022 | SPAC board experience |
Board Governance
- Independence: Board affirmed Radesca is “independent” under NYSE and SEC rules .
- Committees: Audit (member), Compensation (Chair), Nominating & Corporate Governance (member); designated “audit committee financial expert” .
- Attendance and engagement (FY 2024):
- Board: 8 meetings; all directors attended all Board and committee meetings; all attended 2024 annual meeting .
- Audit Committee: 4 meetings; all members attended all .
- Compensation Committee: 1 meeting; all members attended .
- Nominating & Corporate Governance Committee: 1 meeting; all members attended .
- Hedging policy: Directors/officers prohibited from hedging, short sales, and trading publicly traded options on NYC securities .
| Committee | Role | 2024 Meetings | Attendance |
|---|---|---|---|
| Audit | Member | 4 | 100% |
| Compensation | Chair | 1 | 100% |
| Nominating & Corporate Governance | Member | 1 | 100% |
Fixed Compensation
- Director fee schedule:
- Annual retainer: $30,000 (Lead Independent Director additional $55,000) .
- Per meeting (in-person): $2,000 Board/committee; Audit Chair $2,500 for audit meetings; telephone $1,500; daily cap $2,500 ($3,000 for Audit Chair day) .
- External seminars: $2,500/day (≤4 hours) or $5,000/day (>4 hours), plus expenses (no double-payment across boards) .
- Cash-in-lieu-of-stock election permitted; shares issued in lieu of cash are not subject to vesting .
| Name | Fees Paid in Cash ($) | Stock Awards ($) | Option Awards ($) | Non-Equity Incentive ($) | All Other ($) | Total ($) |
|---|---|---|---|---|---|---|
| Nicholas Radesca | 38,250 | 63,719 | — | — | — | 101,969 |
Performance Compensation
- Equity awards: Each independent director receives restricted shares valued at $65,000 after each annual meeting; vesting 20% annually over five years .
- Grant valuation methodology: Grant date fair value under FASB ASC Topic 718 (see 2024 10-K Note 12) .
- Performance linkage: No performance metrics disclosed for director equity; awards are time-vested restricted shares .
| Element | Detail |
|---|---|
| Award type | Restricted shares (not RSUs/options) |
| Annual grant value | $65,000 at issuance after annual meeting |
| Vesting | 20% per year over five years |
| Performance metrics | None disclosed for director equity |
| 2024 stock award value (Radesca) | $63,719 grant-date fair value |
Other Directorships & Interlocks
- Current/Prior public boards: G&P Acquisition Corp., Independent Director (Jan 2021–Dec 2022) .
- Compensation committee interlocks: None during 2024; no relationships requiring related-party disclosure among compensation committee members .
Expertise & Qualifications
- Designated audit committee financial expert; deep SEC reporting, REIT/BDC finance, and CFO experience across multiple public companies .
- CPA (NY & VA) with 25 years of financial reporting/accounting experience; BS (NYIT) and MBA (Cal State East Bay) .
Equity Ownership
| Holder | Shares Beneficially Owned | Percent of Class | Notes |
|---|---|---|---|
| Nicholas Radesca | 7,072 | Less than 1% | Includes unvested restricted shares; as of Dec 31, 2024, unvested restricted shares held: 7,072 |
- Ownership guidelines: Not disclosed for directors in the proxy; company prohibits hedging by directors .
- Pledging: No pledging disclosed for Radesca; not mentioned in stock-ownership section .
Governance Assessment
- Strengths
- Independence affirmed by Board; serves as Compensation Committee Chair and on Audit and Nominating & Corporate Governance committees; designated audit committee financial expert .
- Full attendance at Board and committee meetings in 2024; demonstrates strong engagement .
- Balanced director pay structure combining cash retainer/meeting fees with time-vested equity; no options or non-equity incentives, and hedging prohibited—supporting alignment and risk control .
- Watch items / potential conflict signals
- Historical executive roles at AR Global (parent of Advisor) and prior interim CFO of NYC; while the Board determined independence, prior affiliations may warrant continued monitoring given the Company’s external advisory structure and AR Global/Bellevue Capital relationships .
- Highly concentrated ownership: Bellevue Capital and affiliates beneficially own 56.5% (with irrevocable proxy on votes above 34.9%), which can influence governance dynamics and related-party oversight processes; Nominating & Corporate Governance committee explicitly oversees related-party transactions .
- Committee effectiveness
- Compensation Committee met and all members attended; charter covers executive succession, equity plan oversight, and non-executive director remuneration—Radesca chairs and co-authored Compensation Committee report .
- Audit Committee active (four meetings, full attendance); Radesca contributes as financial expert, reinforcing financial oversight .
- Nominating & Corporate Governance committee’s remit includes related-party transaction review and Board evaluations—Radesca participates alongside the Lead Independent Director .