Brandon Konigsberg
About Brandon Konigsberg
Brandon Konigsberg, age 54, has served as an independent director of Chicago Atlantic Real Estate Finance, Inc. (REFI) since 2021; he is a certified public accountant with deep CFO/Treasury experience and currently leads Kobra Group, LLC, an executive and board-level advisory firm he founded in December 2020 . His education includes a BS in Accounting from the University of Albany and an MBA from NYU Stern School of Business, and he previously held senior finance roles at JPMorgan Chase & Co. and Bear Stearns Private Client Services . The Board has affirmed his independence under Nasdaq standards and determined he qualifies as an “audit committee financial expert” under SEC rules .
Past Roles
| Organization | Role | Tenure/Dates | Committees/Impact |
|---|---|---|---|
| JPMorgan Chase & Co. | Managing Director; Global Chief Financial Officer for Human Resources; Global Chief Financial & Operating Officer; Corporate Treasury | Sep 1996 – Dec 2020 | Senior finance, CFO and treasury leadership supporting complex global operations . |
| J.P. Morgan Securities (formerly Bear Stearns Private Client Services) | Various roles | Not specified | Private client services experience . |
| Goldstein, Golub and Kessler, PC | Auditor | Pre‑JPMorgan (dates not specified) | Audit experience; CPA credential strengthens audit oversight . |
| Kobra Group, LLC | Founder; Executive and board-level advisory | Dec 2020 – Present | Strategic advice to boards/executives; governance and finance expertise . |
External Roles
| Organization | Role | Tenure/Dates | Notes |
|---|---|---|---|
| GTJ REIT, Inc. (private commercial equity REIT) | Director | Since Sep 2019 | Private REIT directorship (commercial real estate) . |
| Flora Growth Corp. (multi‑national cannabis company) | Director | Since Sep 2022 | Cannabis sector board role; potential ecosystem interlocks with REFI’s lending focus . |
Board Governance
- Committee assignments (post‑2025 annual meeting): Audit Committee Chair; Compensation Committee Chair; Nominating & Corporate Governance Committee member; qualifies as audit committee financial expert; all committee members independent under Nasdaq/Rule 10A‑3 .
- Current/2024 committee activity: Board met 6 times; Audit Committee met 4 times; Compensation Committee met 1 time; Nominating & Corporate Governance Committee met 0 times; all incumbent directors attended at least 75% of meetings (attendance is required to receive compensation) .
- Risk oversight: Audit Committee reviews major financial risk exposures, related party transactions, and Manager payments under the Management Agreement; Compensation Committee oversees director/executive compensation and Manager expense reimbursements; Nominating Committee oversees governance and annual board evaluations .
Fixed Compensation
| Metric (2024) | Amount (USD) |
|---|---|
| Fees Earned or Paid in Cash | $82,500 |
| Stock Awards | $75,000 |
| Total | $157,500 |
Director fee schedule (2024):
- Annual cash retainer: $72,500; no per‑meeting fees; reimbursement of reasonable meeting expenses .
- Chair retainers: Audit Chair $25,000; Compensation Chair $10,000; Nominating & Corporate Governance Chair $5,000; Lead Independent Director $15,000; paid quarterly; directors must attend ≥75% of meetings to be eligible for compensation .
Performance Compensation
Time‑based restricted stock awards under the 2021 Omnibus Incentive Plan:
| Grant Date | Award Type | Shares | Vesting Terms |
|---|---|---|---|
| Dec 10, 2021 | Restricted stock | 4,688 | Three‑year vest; one‑third after 12 months; one‑eighth after Mar 31, 2023; one‑eighth quarterly thereafter (as amended) . |
| Dec 31, 2022 | Restricted stock | 4,976 | Three‑year vest; one‑third after 12, 24, and 36 months . |
| Apr 1, 2024 | Restricted stock | 4,811 | One‑year vest . |
| Apr 1, 2025 | Restricted stock | 5,071 | One‑year vest . |
- No director performance metrics (e.g., revenue growth, EBITDA, TSR) are disclosed as determinants of director equity grants; awards are time‑based RSUs/restricted stock under the Omnibus Plan .
Other Directorships & Interlocks
| Company | Sector | Role | Potential Interlock/Conflict Consideration |
|---|---|---|---|
| Flora Growth Corp. | Cannabis | Director | REFI lends to cannabis operators; board‑level exposure in cannabis ecosystem warrants heightened related‑party/transaction oversight by Audit Committee . |
| GTJ REIT, Inc. | Real estate (private REIT) | Director | Real estate expertise; no specific related transactions disclosed with REFI . |
Expertise & Qualifications
- CPA; extensive CFO/treasury leadership (Global CFO for HR; Corporate Treasury); strengthens “financial expert” status for Audit Committee leadership .
- Board and consulting experience via Kobra Group; broad financial services background enhances oversight of an externally managed REIT structure .
- Cannabis sector directorship adds domain knowledge relevant to REFI’s lending market .
Equity Ownership
| Item | Value |
|---|---|
| Shares owned beneficially (as of Apr 4, 2025) | 20,946; represents less than 1% of outstanding shares |
| Shares outstanding reference | 20,967,457 (for percentage context) |
| Restricted shares outstanding (grants to date) | 19,546 (aggregate of 4 grants) |
| Hedging/pledging policy | Hedging and pledging prohibited except with pre‑approval and demonstrated repayment capacity; short sales and speculative transactions prohibited |
Insider Trades
| Date | Type | Shares | Price | Post‑Transaction Holdings |
|---|---|---|---|---|
| Oct 14, 2025 | Open‑market purchase (Form 4 code “P”) | 7,000 | $12.328 | 27,546 (direct) |
Governance Assessment
- Strengths: Independent director with CPA and seasoned CFO/treasury background; designated “audit committee financial expert”; slated to chair both Audit and Compensation Committees, enhancing oversight of financial reporting, related‑party transactions, and compensation under the external management model .
- Engagement: All incumbent directors met the ≥75% attendance threshold in 2024; Board/Committee cadence disclosed (Board 6; Audit 4; Comp 1; Nominating 0) .
- Alignment: Director compensation combines cash retainer and time‑based equity; incremental insider open‑market purchase in Oct 2025 increases direct ownership, a positive alignment signal .
- RED FLAGS and monitoring items: Externally managed REIT structure with significant related‑party transactions (co‑investments, loan sales/assignments, and Vireo‑related exposure tied to Executive Chairman’s roles) places higher demands on Audit Committee diligence; Konigsberg’s Audit Chair role post‑meeting is critical for safeguarding investor confidence .
- Policies: Robust insider trading policy against hedging/pledging and speculative trading; continued enforcement reduces misalignment risk .