Meredith Marshall
About Meredith Marshall
Meredith Marshall (age 59) is an independent director of Ready Capital Corporation, serving since December 2022. He is co‑founder and Managing Partner of BRP Companies, with prior roles in private equity and investment banking (Musa Capital; Wasserstein Perella), and holds a BS in Electrical Engineering (Boston University) and an MBA in Finance and International Business (Columbia Business School). His core credentials emphasize real estate finance, affordable housing, cross‑border transactions, and M&A execution.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| BRP Companies | Co‑founder and Managing Partner | — | Leads investment strategy, deal origination, acquisition, finance, development |
| Musa Capital Advisors | Managing Director | — | Executed cross‑border transactions incl. $37M mixed‑use complex in Harare, Zimbabwe |
| Wasserstein Perella & Co. | Senior Associate (Telecom/Media M&A) | — | Assisted in transactions exceeding $15B |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Council of Urban Professionals | Founding Member | — | Civic and leadership engagement |
| NY State Affordable Housing Association | Executive Board Member | — | Affordable housing advocacy |
| Real Estate Board of New York | Board of Governors | — | Industry governance participation |
| Enterprise NYC | Advisory Board Member | — | Housing and community development advisory |
| Citizens Housing and Planning Council | Board Member | — | Urban housing planning and policy |
Board Governance
- Independence: Marshall is one of five independent nominees out of seven directors under NYSE standards.
- Committee memberships (2025): Compensation Committee (member), Nominating & Corporate Governance Committee (member). Chairs: Compensation—Todd M. Sinai; Nominating—J. Mitchell Reese.
- Board/committee activity: 9 total board meetings in 2024; 8 independent director executive sessions; reported 90% board attendance. Six of seven directors attended last year’s annual meeting.
- Lead Independent Director: J. Mitchell Reese (since April 2025).
- Governance policies: Code of Ethics; prohibition on hedging/pledging by directors; clawback policy; stock ownership guidelines (directors: 5× annual cash retainer).
Fixed Compensation
| Component | Amount/Terms | Notes |
|---|---|---|
| Annual cash retainer (independent directors, 2024) | $95,000 | Standard board fee |
| Audit Committee chair | $25,000 | Chair premium |
| Audit Committee member (non‑chair) | $12,500 | Member premium |
| Compensation Committee chair | $20,000 | Chair premium |
| Compensation Committee member (non‑chair) | $10,000 | Member premium |
| Nominating & Corporate Governance chair | $15,000 | Chair premium |
| Nominating & Corporate Governance member (non‑chair) | $7,500 | Member premium |
| Travel reimbursement | Actuals reimbursed | Standard practice |
Marshall’s reported 2024 director compensation:
| Name | Fees Earned/Paid in Cash ($) | Stock Awards ($) | Total ($) |
|---|---|---|---|
| Meredith Marshall | 102,643 | 115,000 | 217,643 |
Performance Compensation
| Equity Instrument | Grant Date | Number of Shares/Units | Grant‑Date Fair Value | Vesting | Dividends |
|---|---|---|---|---|---|
| Restricted Common Stock (directors, annual grant) | 2024 grants | — | $115,000 (value basis; directors) | Vests in equal quarterly installments over one year | Dividends paid on unvested shares at same rate/timing as common stock |
| Marshall—Unvested Restricted Stock (director grant) | — | 13,393 | — | Vests in three equal installments on 6/30/2025, 9/30/2025, 12/31/2025 | — |
Note: RC does not disclose director PSUs/options or director performance metrics; annual director equity grants are time‑based restricted stock (not performance‑based).
Other Directorships & Interlocks
| Category | Details |
|---|---|
| Current public company directorships | None disclosed in RC proxy biography for Marshall |
| Committee roles at other public companies | Not disclosed |
| Private/non‑profit/academic boards | See External Roles table above |
Expertise & Qualifications
| Area | Evidence |
|---|---|
| Real estate finance and development | BRP Companies co‑founder and Managing Partner |
| Affordable housing | Executive roles in NY affordable housing organizations |
| Cross‑border transactions and emerging markets | Musa Capital—Zimbabwe mixed‑use development; sector investments |
| M&A execution | Wasserstein Perella—telecom/media M&A transactions >$15B |
| Education | BS Electrical Engineering (Boston University); MBA Finance/International Business (Columbia) |
Equity Ownership
| Holder | Shares Beneficially Owned | % of Common | Notable Details |
|---|---|---|---|
| Meredith Marshall | 40,094 | <1% | Includes 13,393 restricted shares vesting in three installments across 2025 |
Ownership alignment policies:
- Directors must maintain stock valued at ≥5× annual cash retainer; compliance reviewed as of 12/31/2024 (independent directors either compliant or within 5‑year phase‑in).
- Directors prohibited from hedging or pledging company securities.
Governance Assessment
- Strengths: Independent status; active roles on Compensation and Nominating committees, which oversee pay strategy, manager oversight, board composition and governance; strong domain expertise in CRE/affordable housing enhances board effectiveness in RC’s core lending and real estate activities.
- Engagement: Board met 9 times in 2024 with 8 independent sessions; overall attendance 90%; six of seven directors attended the last annual meeting (positive engagement signals, though RC does not disclose per‑director attendance).
- Alignment and safeguards: Director equity grants and 5× retainer ownership guidelines support alignment; hedging/pledging prohibitions and clawback policy strengthen governance.
- Structural risks: RC’s external manager (Waterfall Asset Management) receives base management fees not tied to performance; incentive distribution structure and termination fees can create potential conflicts and costs—mitigated by independent director oversight, related‑party review policy, and a side letter limiting competition in LMM loan strategies.
Additional context: Say‑on‑pay received ~84% support at the 2024 annual meeting, indicating generally acceptable compensation governance; Compensation Committee engaged independent consultant Farient and reported no consultant conflicts.