Yaakov Beyman
About Yaakov Beyman
Executive Vice President, Insurance Division at Reliance Global Group (RELI) since July 2018; previously EVP of Insurance Division at Empire Insurance Holdings (2012–2018) . Age 37 as disclosed in the S-1/A dated January 28, 2021 . Company-level pay-versus-performance disclosures show net losses of $9.1 million in 2024 and $12.0 million in 2023, with cumulative TSR of 0.16 in 2024 (PEO/NEO framework), indicating a challenging performance backdrop during his recent tenure . He is the son of CEO Ezra Beyman, a disclosed family relationship .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Empire Insurance Holdings | Executive Vice President, Insurance Division | 2012–2018 | Led insurance operations; strategy to expand products and geographies; operational tooling and marketing; holds insurance licenses in most of continental U.S. |
| Reliance Global Group, Inc. | Executive Vice President, Insurance Division | 2018–Present | Oversees insurance operations; strategy and execution to grow various insurance businesses, including tech models, financial management, distribution, and entity creation |
External Roles
No external public company directorships or roles disclosed for Yaakov Beyman in available filings.
Fixed Compensation
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Base Salary ($) | $219,539 | $237,135 | $275,000 |
| Target Bonus (%) | Not disclosed | Not disclosed | Not disclosed |
| Actual Bonus Paid ($) | $30,000 | $2,000 | — |
| All Other Compensation ($) | — | $9,565 | $11,000 |
| Total ($) | $249,539 | $317,370 | $321,964 |
Performance Compensation
RSU/Stock Awards and Vesting
| Award Type | Grant Date(s) | Shares / Value | Vesting Terms | Status / Event |
|---|---|---|---|---|
| RSU/Restricted Stock Awards | Feb 5, 2025 (amended Feb 7, 2025); Jul 18, 2025 | 197,399 shares (aggregate accelerated) | Amended to vest in full | Accelerated vesting to 100% on Sep 12, 2025 (Comp Committee action) |
| Stock Awards (annual NEO comp) | FY 2022 | — | Not detailed | No stock awards disclosed for him in FY 2022 |
| Stock Awards (annual NEO comp) | FY 2023 | $68,670 | Not detailed | Granted in FY 2023 |
| Stock Awards (annual NEO comp) | FY 2024 | $35,964 | Not detailed | Granted in FY 2024 |
Options
| Grant Date | Instrument | Number Outstanding (as-of date) | Exercise Price | Expiration | Vesting Schedule |
|---|---|---|---|---|---|
| Sep 3, 2019 | Non-Statutory Stock Options | 14,000 unexercised (2012–2021 table context) | $14.57 | Sep 3, 2024 | 20% at 1-year; 40% at 2-year; 40% at 3-year anniversaries |
| Sep 3, 2019 | Non-Statutory Stock Options | 1,556 exercisable (as of Dec 31, 2023) | $218.56 | Sep 3, 2024 | Schedule per 2019 grant; remaining after reverse split adjustments |
Notes:
- The company effectuated a 1-for-17 reverse split on July 1, 2024; share and per-share data in the 2025 proxy are retroactively adjusted .
Performance Metrics and Payouts
- Specific performance metrics, weightings, targets, and payout calculations for Beyman’s awards are not disclosed in the proxies. The 2025 Equity Incentive Plan permits performance targets including TSR, EPS, revenue, EBITDA, ROE/ROA, and others at the Committee’s discretion .
Equity Ownership & Alignment
| Ownership Measure | Value |
|---|---|
| Total Beneficial Ownership (common shares) | 24,710 shares |
| Ownership as % of Shares Outstanding | <1% |
| Shares Pledged as Collateral | Company policy prohibits pledging of company stock; individual pledging status not separately disclosed |
| Hedging | Company policy prohibits hedging transactions |
| Stock Ownership Guidelines | Not disclosed |
Employment Terms
- Employment agreement terms (non-compete, non-solicit, severance, change-of-control multiples) specific to Yaakov Beyman are not disclosed in recent proxies or 8-Ks. Earlier filings (pre-2022) indicated executives had verbal compensation agreements at that time .
- Clawback: Board-approved compensation recovery policy (2023) requires recovery of incentive-based compensation tied to financial reporting measures for the 3 years prior to an accounting restatement, consistent with SEC/Nasdaq rules .
- Equity Plan Change-of-Control: Awards may accelerate or be deemed earned on change-of-control; potential 280G excise tax implications for participants and company deduction disallowance risk .
- Anti-hedging/Anti-pledging: Insider trading policy prohibits hedging and pledging of company stock .
Company Performance Context (for Pay-for-Performance)
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Revenues ($) | $11,761,882* | $13,731,826 | $14,054,361 |
| EBITDA ($) | -$3,943,824* | -$1,959,128* | -$1,939,380* |
| Net Income ($) | $6,466,162 | -$12,009,982* | -$9,071,584* |
Values retrieved from S&P Global (asterisked values lack document citations).
Additional context (proxy “Pay vs Performance”):
- Net (Loss) Income: $(9,072) thousand in 2024; $(12,010) thousand in 2023; $6,466 thousand in 2022 .
- Cumulative TSR: 0.16 in 2024; 0.56 in 2023; 8.82 in 2022 (series defined in proxy) .
Investment Implications
- Vesting overhang and potential selling pressure: The September 12, 2025 accelerated vesting of 197,399 shares for Beyman creates near-term float impact and potential supply overhang if monetized; similar accelerations for CEO and CFO suggest broader management liquidity events .
- Alignment vs ownership: Beyman’s direct beneficial ownership is modest (<1%), though anti-hedging/pledging policies and clawback provisions enhance alignment safeguards .
- Pay-for-performance sensitivity: Company recorded net losses in 2023 and 2024 with weak TSR in 2024, yet annual stock awards persisted; absent disclosed performance metrics for his awards, investors should scrutinize Compensation Committee’s use of performance conditions under the 2024 Omnibus and 2025 Equity Plans .
- Governance and related party: Disclosed father–son relationship with the CEO elevates perceived related-party oversight risk; monitor Compensation Committee independence and say-on-pay outcomes (no detailed percentages disclosed) .
- Retention risk: Accelerated vesting indicates a retention tool; post-vesting, retention may depend on fresh performance-conditioned grants or explicit employment terms, which are not disclosed; monitor future equity grants and any 8-K Item 5.02 updates .