Christina Favilla
About Christina Favilla
Independent director at OppFi since July 20, 2021; age 57. Former COO of Sterling National Bank (2017–2018), COO of GE Capital’s lending and leasing business (2012–2017), and President of Discover Bank for six years prior to 2012. Holds an MBA in Information Systems from Fordham Gabelli School of Business. Core credentials cited by OppFi: people leadership, risk management, P&L ownership, and IT governance .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Sterling National Bank | Chief Operating Officer | Jul 2017 – Dec 2018 | Led bank-wide operations during regulatory change; risk and IT governance focus |
| GE Capital (Lending & Leasing) | Chief Operating Officer | Feb 2012 – Jun 2017 | Scaled platforms in volatile regulatory environments |
| Discover Bank | President | ~2006 – 2012 | Consumer banking leadership; P&L accountability |
External Roles
| Entity | Type | Role | Status/Notes |
|---|---|---|---|
| Priority Technology Holdings (Nasdaq: PRTH) | Public company | Board member | Payments/merchant acquiring; current |
| Ocrolus | Private company | Board member | Document AI for financial services; current |
| Citizens State Bank of Ouray Colorado | Bank | Board member | Community bank; current |
| Mount Rainier Acquisition Corp. (Nasdaq: RENR) | SPAC | Board member | Served until its business combination in Feb 2023 |
Board Governance
- Board independence and status: OppFi is a “controlled company” under NYSE rules; SCG Holders beneficially own ~71.5% voting power, enabling exemptions from majority-independent board and fully independent Compensation and Nominating committees .
- Independence: Board determined Favilla is NYSE Independent, Audit Committee Independent, and Compensation Committee Independent .
- Committee assignments: Member, Audit Committee; member, Compensation Committee. Audit Committee chaired by Greg Zeeman; Compensation Committee chaired by David Vennettilli .
- Board/committee activity and attendance context: Board met 6 times in 2024; Audit 5; Compensation 4; Nominating & Corporate Governance 1. All board members attended the 2024 annual meeting of stockholders (no individual attendance issues disclosed) .
- Executive sessions: Non-management and independent director sessions held regularly; at least one independent-only session annually; Lead Director presides (Lead Director is Jocelyn Moore) .
Fixed Compensation
Director cash retainers and equity awards.
| Component | 2023 | 2024 |
|---|---|---|
| Cash retainers (Board + committees) | $68,000 (Board $50,000; Audit $10,000; Compensation $8,000) | $68,000 (Board $50,000; Audit $10,000; Compensation $8,000) |
| Equity retainer (RSUs, grant-date fair value) | $150,000 (time-vested) | $150,000 (time-vested) |
| Total | $218,000 | $218,000 |
Notes:
- Director equity vests at the earlier of the one-year anniversary of grant or the next annual meeting, subject to service .
- Mix (2024): Equity ~68.8%, Cash ~31.2% (derived from amounts) .
Performance Compensation
Directors do not receive performance-conditioned pay at OppFi; annual director equity grants are time-vested RSUs.
| Metric | 2023 | 2024 |
|---|---|---|
| Performance-based equity (PSUs/options) | None disclosed for directors | None disclosed for directors |
| Pay tied to financial/ESG metrics | Not applicable for directors | Not applicable for directors |
Other Directorships & Interlocks
| Category | Details |
|---|---|
| Current public boards | Priority Technology Holdings (PRTH) |
| Prior public/SPAC board | Mount Rainier Acquisition Corp. (RENR) until Feb 2023 |
| Interlocks/conflicts | OppFi discloses no compensation committee interlocks; no related-party transactions involving Favilla reported |
Expertise & Qualifications
- Financial services operating executive with COO and bank president experience (GE Capital, Discover, Sterling) .
- Skills cited by the company: risk management, P&L, IT governance, people leadership .
- Serves on Audit and Compensation Committees; Audit Committee’s “financial expert” designation is held by Greg Zeeman (not Favilla) .
Equity Ownership
Beneficial ownership and alignment (as of record dates).
| Metric | 2024 (Apr 9, 2024) | 2025 (Apr 14, 2025) |
|---|---|---|
| Total beneficial ownership (shares) | 137,409 (less than 1%) | 186,737 (less than 1%) |
| Class A shares owned | 65,213 | 137,409 |
| RSUs vesting within 60 days | 72,196 | 49,328 |
| Ownership as % of outstanding | <1% (company denotes “* less than one percent”) | <1% (company denotes “* less than one percent”) |
| Pledged shares | No pledging disclosed in proxy (company maintains anti-hedging policy) |
Insider trading and Section 16 compliance:
| Filing/Disclosure | Reported timing | Note |
|---|---|---|
| Form 4 filing (late) | 2023 filing reporting a 2022 transaction | One late transaction disclosed for Favilla for 2022 |
| Form 4 filing (late) | November 2024 filing reporting a June 2024 transaction | One late transaction disclosed for Favilla for 2024 |
Governance Assessment
-
Positives
- Independent director with deep banking/fintech operating background; sits on both Audit and Compensation—key oversight levers .
- Board confirms NYSE/Audit/Comp independence for Favilla; presence of independent Lead Director and regular executive sessions support independent oversight .
- Director compensation is modest and equity-heavy (~69% in 2024), aligning incentives with shareholders; structure unchanged YoY, which curbs pay inflation risk .
- All directors attended the 2024 annual meeting; no attendance issues disclosed .
-
Watch items / RED FLAGS (contextual)
- Controlled company status (SCG Holders ~71.5% voting power) allows exemptions from some independence requirements; Nominating & Corporate Governance Committee is chaired by the CEO, which concentrates influence in the control group .
- Procedural lapses: late Section 16 filings were disclosed for Favilla in 2023 (for a 2022 trade) and in Nov 2024 (for a June 2024 trade); not uncommon but worth monitoring for compliance rigor .
- No director stock ownership guideline disclosures; absence of explicit minimums reduces formal alignment signaling (not disclosed in proxy) .
-
Related-party/Conflict check
- OppFi’s related-party section lists no transactions involving Favilla; only notable related-party disclosure involved an executive’s family member and firm-level agreements (TRA/Investor Rights) unrelated to Favilla personally .
Overall, Favilla brings material operating and risk expertise to critical board committees with independent status, but investors should evaluate her influence within a controlled-company framework and monitor Section 16 timeliness going forward .