Dusty Wunderlich
About Dusty Wunderlich
Dusty Wunderlich, 44, serves as PSQ Holdings, Inc.’s Chief Strategy Officer and has been a director since March 2024; he holds a bachelor’s degree in finance and economics and an MBA from Missouri State University . He has no other current public company directorships, and PSQH does not disclose executive-specific TSR, revenue growth, or EBITDA growth metrics tied to his role . PSQH is a “controlled company” with combined CEO/Chairman roles and less-than-majority independent board composition, factors relevant to governance and compensation oversight .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Credova Holdings, Inc. | Chief Executive Officer; Director | 2020–2024 | Led BNPL platform focused on outdoor/shooting sports; fintech operating and regulatory exposure |
| Red Rock Armory, LLC | Managing Member | 2021–2024 | Leadership in specialty retail ecosystem aligned with target customer base |
| ALMC, LLC | Managing Member (consulting) | 2017–2020 | Capital markets and advisory experience |
| Bristlecone Holdings | Chief Executive Officer | 2014–2017 | Point-of-sale financing solutions; consumer credit operations |
| DCA Partners | Principal | 2011–2013 | Boutique investment banking; deal advisory |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| – | – | – | No other public company board service disclosed (Other Public Boards: 0) |
Fixed Compensation
- PSQH does not disclose Dusty Wunderlich’s base salary, target bonus %, or cash compensation in the NEO tables (he is not a named executive officer). The proxy states management directors (Seifert and Wunderlich) do not receive board compensation .
Performance Compensation
| Incentive Type | Grant Date | Amount | Vesting | Notes |
|---|---|---|---|---|
| RSUs | 03/27/2024 | Not disclosed | Not disclosed | A Form 4 noting this RSU grant was filed on 01/31/2025 due to a prior delinquency |
- No performance metric weightings (e.g., revenue, EBITDA, TSR) or payout formulas tied specifically to Wunderlich are disclosed .
Equity Ownership & Alignment
| Item | Value | Notes |
|---|---|---|
| Total beneficial ownership (Class A) | 1,123,294 shares | Held by SLDW Holdings, LLC; Wunderlich is a member/manager and disclaims beneficial ownership except to pecuniary interest |
| Ownership as % of Class A outstanding | 2.65% | Based on 42,325,298 Class A shares at record date |
| Director stock ownership guidelines | None for executives | Company has no formal stock ownership guidelines for executive officers |
| Hedging policy | Prohibited | Puts, calls, derivatives, hedging (collars/forward sales) are prohibited |
| 10b5-1 trading plans | None in effect for directors as of record date | Company authorizes plans, but none of the directors had one in effect at record date |
| Pledging/margin | Prohibited (extraordinary exceptions possible) | Margin purchases and pledging Company securities are prohibited except in extraordinary, approved cases |
Employment Terms
- No public disclosure of Wunderlich’s executive employment agreement terms, severance multiples, change-of-control triggers, non-compete/non-solicit, or clawback applicability (NEO agreements disclosed only for Seifert, Searle, Weisbecker) .
Board Governance
| Attribute | Detail |
|---|---|
| Board service | Director since March 2024 (Class II; up for re-election in 2025; term to 2028 if re-elected) |
| Independence status | Non-independent (management director; Chief Strategy Officer) |
| Committee memberships | None (Audit, Compensation, Nominating committees list does not include Wunderlich) |
| Board leadership | CEO also serves as Chairman (combined roles) |
| Controlled company | PSQH qualifies and avails certain NYSE governance exemptions (not majority independent) |
| Executive sessions | Independent directors hold separate, regularly scheduled executive sessions at least twice per year |
| Meeting attendance | Board met 12 times in 2024; all incumbents attended ≥75% of Board and committee meetings during their service period |
| Director compensation | Management directors (Seifert, Wunderlich) receive no board fees; non-employee directors get cash retainers and RSUs per policy |
Related Party/Transactions Context
- Wunderlich’s beneficial holdings are via SLDW Holdings, LLC (address in Bozeman, MT). No separate related party transactions for Wunderlich are disclosed beyond ownership; broader related party items involving other directors (consulting agreements, notes/PIPEs) do not list him as a counterparty .
Performance & Track Record (Company-level context influencing role risk)
- PSQ reported rapid scaling and multi-segment expansion (Marketplace, Brands/EveryLife, Financial Technology—Credova and PSQ Payments), with net losses of $57.7M in 2024 and $53.3M in 2023 on revenues of $23.2M and $5.7M, respectively (company level; not executive-specific) .
- Credova operates in a highly regulated BNPL/consumer finance environment with extensive federal/state compliance risks and potential enforcement exposure (risk context for strategy oversight) .
Investment Implications
- Alignment: Material equity stake (2.65% of Class A via SLDW) suggests economic alignment; no hedging/pledging permitted, and no 10b5-1 plan in effect as of record date, which reduces structured selling signals but may increase ad hoc sale variability if future liquidity needs arise .
- Transparency gap: Executive pay specifics (salary, bonus, RSU amount/vesting) are not disclosed; absence of published performance metrics/payout curves limits pay-for-performance assessment and makes modeling insider selling pressure from vesting schedules difficult .
- Governance: Dual-role (executive + director) in a controlled company with combined CEO/Chairman and non-majority independent board can weaken independent oversight of compensation and strategic risk—particularly across regulated fintech activities (monitor re-election and committee compositions) .
- Regulatory execution risk: Strategy oversight touches Credova/PSQ Payments in complex BNPL and payments regimes; enforcement and legislative changes could pressure economics and capital allocation, elevating retention risk if regulatory outcomes constrain strategic levers .
Key monitoring: future Form 4 filings for RSU vesting/sales, any disclosed employment or severance terms, committee assignments or governance shifts, and regulatory developments impacting Credova/PSQ Payments.