Gregory Cannella
About Gregory Cannella
Gregory J. Cannella, 50, is Chief Financial Officer, Secretary, and Treasurer of Princeton Capital Corporation (PIAC) and has served since March 13, 2015. His responsibilities include financial reporting, investor communications, financial modeling, and due diligence on acquisitions and dispositions; he holds a B.B.A. in Management (Stephen F. Austin State University), an M.B.A. with honors in Accounting and Finance (University of Houston), and is a CPA in Texas . PIAC’s proxies do not disclose company-level pay-for-performance metrics tied to Cannella’s compensation; executive officers are compensated by the external advisor (House Hanover) rather than directly by PIAC .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Capital Point Partners | Chief Financial Officer | Prior to 2015 (exact years not disclosed) | Led financial reporting, investor communications, modeling, and acquisition/disposition diligence |
| First Commonwealth Holdings Corp. | Asset Manager | Prior to 2015 (exact years not disclosed) | Managed commercial and multi‑family real estate investment funds; oversaw accounting functions and reporting |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Not disclosed in PIAC’s latest proxy for Cannella | — | — | — |
Fixed Compensation
- Executive officers do not receive direct compensation from PIAC; they are paid by House Hanover, with PIAC reimbursing its allocable portion under the Investment Advisory Agreement .
Advisor fee context (company-level; indicative of the pool funding executive compensation):
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| House Hanover Management Fees Accrued ($) | $317,546 | $257,384 |
| House Hanover Administration Expenses Accrued ($) | $259,500 | $259,500 |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed; PIAC indicates no direct executive compensation from the Company and provides no company PSUs/RSUs/options framework for executive officers | — | — | — | — | — |
Equity Ownership & Alignment
| As-of Date | Shares Owned | Ownership % | Dollar Range of Beneficial Ownership | Notes |
|---|---|---|---|---|
| Nov 12, 2024 | 0 | <1% (“*”) | None | Proxy references closing price $0.135 for dollar range determination |
| Nov 11, 2025 | 0 | <1% (“*”) | None | Proxy references closing price $0.06 for dollar range determination |
Additional alignment observations:
- PIAC’s Code of Ethics covers conflicts and insider trading; no executive stock ownership guideline is disclosed for Cannella in the proxy .
- No pledging or hedging disclosures for Cannella appear in the proxy; Section 16(a) filings were timely for FY2024 per PIAC .
Employment Terms
| Term | Details |
|---|---|
| Start date | March 13, 2015 |
| Current titles | Chief Financial Officer, Secretary, and Treasurer |
| Compensation mechanism | Paid by House Hanover; PIAC reimburses its allocable portion of advisor compensation and administration expenses under the Investment Advisory Agreement |
| Advisor relationship | Investment Advisory Agreement approved by stockholders; House Hanover controlled by Mark S. DiSalvo |
Performance & Track Record
- Role execution: As CFO since 2015, Cannella leads financial reporting, investor communications, modeling, and acquisition/disposition due diligence .
- Stock snapshots disclosed in proxies: $0.135 closing price on Nov 12, 2024 ; $0.06 closing price on Nov 11, 2025 .
Risk Indicators & Red Flags
- Related-party advisor economics: House Hanover (controlled by Mark S. DiSalvo) receives management and administration fees; executive officers (including Cannella) are paid by House Hanover, not PIAC directly—this structure can dilute pay-for-performance alignment at the public company level .
- Ownership concentration: Capital Point Partners LP and II LP collectively own ~96% of outstanding shares as of the 2025 record date, concentrating governance influence and potentially limiting minority shareholder input .
- Alignment gap: Cannella reported owning no PIAC shares, suggesting limited “skin in the game” from company equity, reducing direct alignment with public shareholders .
- Compliance: PIAC reported timely Section 16(a) compliance for FY2024, reducing regulatory risk signals .
Compensation Committee Analysis
- PIAC has no compensation committee for executives; executive officers receive no direct compensation from PIAC. The Audit Committee (comprised of independent directors) reviews compensation paid to the external advisor (House Hanover), with DiSalvo recusing himself .
Investment Implications
- Pay-for-performance alignment: Cannella’s compensation is routed through House Hanover rather than PIAC, and he holds no PIAC shares, weakening conventional incentives tied to PIAC’s TSR, revenue growth, or EBITDA performance .
- Trading signals: With zero reported ownership, insider selling pressure from Cannella is negligible, but lack of ownership offers no positive insider signal; concentrated control (~96%) by CPP/CPP II can overshadow minority governance and reduce catalysts from say‑on‑pay or shareholder proposals .
- Retention risk: Cannella’s compensation depends on the advisor relationship; stability of House Hanover’s engagement and economics (fees and administration reimbursements) is more relevant to his retention than PIAC-level pay structures .
- Governance/related-party risk: The advisor’s control by DiSalvo and the ownership concentration raise potential conflict and governance risks; however, PIAC’s Audit Committee oversight and timely Section 16 compliance mitigate some concerns .