Felipe Garcia

About Felipe Garcia

Felipe Garcia was appointed Senior Vice President of Key Accounts at Quest Resource Holding Corporation (QRHC) on October 21, 2025, reporting to CEO Perry Moss; the appointment filing notes 12+ years of executive leadership in key account management and business development at Republic Services Group and senior roles in the facility maintenance industry, but does not disclose age or education . Company performance context: QRHC reported revenue of $155.7M (2021), $284.0M (2022), $288.4M (2023), and $288.5M (2024) with Adjusted EBITDA of $10.9M, $16.4M, $16.2M, and $14.5M, respectively, and net losses of $(6.0)M, $(7.3)M, and $(15.1)M from 2022–2024; TSR (value of $100 investment) fluctuated to $88 (2022), $106 (2023), and $94 (2024) .

Past Roles

External Roles

None disclosed in company filings for Felipe Garcia as of his appointment 8-K .

Fixed Compensation

• No base salary, target bonus %, or guaranteed cash terms for Felipe Garcia were disclosed in the October 21, 2025 8-K appointment filing .
• Company’s 2025 Bonus Plan for Senior Management is target-based and requires employment through Dec 31; NEO targets disclosed are CEO 100% of base, COO 80%, CFO 65% (specific metrics and Felipe’s target not disclosed) .

Performance Compensation

• Equity award structure and grant timing: the company generally grants annual equity awards; stock-based compensation is delivered under the 2024 Incentive Compensation Plan; options were not granted to directors/NEOs in 2024; committee states it does not time grants around MNPI .
• 2025 Bonus Plan is performance-based with defined metrics for NEOs; Felipe’s performance metrics, weighting, and payout details are not disclosed in filings .

Equity Ownership & Alignment

• Beneficial ownership: No Form 3/4 ownership disclosure for Felipe Garcia was included in the appointment 8-K; the proxy as of Dec 31, 2024 does not list Garcia (pre-appointment) .
• Company policies enhancing alignment:
  • Clawbacks: 2019 Clawback Policy and 2023 Dodd-Frank Clawback Policy enable recovery of incentive compensation after restatements or policy violations .
  • Insider trading and hedging restrictions: explicit policies apply to officers and directors .
  • Indemnification agreements: in place for all directors and executive officers .

Equity plan capacity and instruments (company-level context, Dec 31, 2024):

2024 Plan instrument detail (Dec 31, 2024):

• Options: 10,000; DSUs: 15,371; RSUs: 54,045; PSUs: 130,000 (if performance threshold achieved) .

Employment Terms

• Appointment: Senior Vice President of Key Accounts (Oct 21, 2025), reporting to CEO; no employment agreement, compensation schedule, severance, or change-of-control terms for Garcia disclosed in the 8-K .
• Company-level governance:
  • Indemnification agreements with executive officers; related-party transaction oversight by the Audit Committee .
  • Clawbacks (2019 policy; 2023 Dodd-Frank compliant) and insider trading/hedging policy .
• Known severance structures (contextual, other executives):
  • CEO Moss: change-of-control severance includes 12–18 months base salary, average cash bonus, accelerated vesting of unvested options/RSUs subject to conditions .
  • CFO Johnston: severance equal to 12 months salary and pro-rata bonus under certain termination scenarios .
• Non-compete/non-solicit: CEO contract includes 12-month non-compete and 24-month non-solicit; no non-compete disclosure for Garcia .

Performance & Company Context

Company performance trajectory:

Pay vs Performance TSR proxy context:

Q3 2025 Non-GAAP reconciliation snapshot:

Compensation Structure Analysis (Management confidence signals)

• Shift in equity instrument usage: 2024 proxy states no options granted to directors/NEOs in 2024; equity emphasis via RSUs/PSUs consistent with aligning incentives to multi-year metrics .
• Clawbacks strengthened with 2023 Dodd-Frank compliant policy; insider trading/hedging restrictions in place, supporting pay-for-performance alignment .
• Senior management bonus plan in 2025 requires employment at year-end; NEO targets disclosed but Garcia’s bonus target not disclosed .

Risk Indicators & Red Flags

• Documentation gap: No Garcia-specific compensation, ownership, or contract disclosures in appointment 8-K; monitor for subsequent 8-Ks or Form 3/4 filings indicating equity grants or ownership .
• Company-level losses and margin compression: rising net losses through 2024; Adjusted EBITDA margin declined vs 2021 baseline, though Q3 2025 showed sequential margin improvement .
• Governance protections exist (clawbacks, hedging restrictions, indemnification), reducing certain alignment risks .

Investment Implications

• Near-term: Garcia’s deep key account background should be supportive for customer retention and revenue stabilization in QRHC’s enterprise accounts; however, absence of disclosed compensation/vesting terms limits visibility into his personal selling pressure or alignment triggers—watch for Form 3 ownership baseline and any RSU/PSU grants via Form 4 .
• Monitoring list:
  • Filing cadence: Look for an Item 5.02 8-K or grant-related 8-K, and Form 3/4 to surface salary, bonus target, and initial equity grants (dates, amounts, vesting) .
  • Plan utilization: Track awards under the 2024 Plan (RSUs/PSUs) which drive retention and performance alignment; capacity is ample, enabling meaningful grants to new executives .
  • Trading signals: Insider purchases/sales by Garcia post-grant or tax-withholding transactions can signal confidence/pressure; company policies restrict hedging and enable clawbacks, which moderate misalignment risk .
• Company context: Improving Adjusted EBITDA margin in Q3 2025 vs Q3 2024 suggests operational progress; Garcia’s role is directly tied to advancing value proposition and strategic customer relationships, a lever for gross profit and cash generation in subsequent periods .