Robert La Forgia
About Robert M. La Forgia
Independent trustee of RLJ Lodging Trust since May 2011; age 66. Founder, Principal and CEO of Apertor Hospitality, with prior roles including CFO of Hilton Hotels (2004–2008) and SVP & Controller (1996–2004). Education: B.S. Accounting (Providence College) and MBA (UCLA Anderson). Designated Audit Committee Financial Expert and currently chairs RLJ’s Audit Committee; also serves on the Nominating & Corporate Governance Committee .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Apertor Hospitality, LLC | Founder, Principal & CEO | 2009–present | Hospitality advisory leadership |
| The Atalon Group, LLC | EVP—Finance | 2008–2010 | Turnaround management in real estate |
| Hilton Hotels Corporation | CFO; SVP & Controller; prior management roles | CFO 2004–2008; SVP & Controller 1996–2004 | Public company finance, accounting leadership |
External Roles
| Organization | Role | Status | Notes |
|---|---|---|---|
| LivAway Suites | Director | Current | Nationwide economy extended stay brand (private) |
| Keystone National Group | Board of Advisors | 2018–2024 | Private markets investment manager |
| Sundance Bay | Board of Advisors (prior) | Prior | Real estate private equity |
| Park City Community Foundation | Board of Directors (prior) | Prior | Community philanthropy |
| Current public company boards | — | None | RLJ proxy table lists no current public boards for La Forgia |
Board Governance
- Independence: Board affirmatively determined La Forgia is independent under NYSE and SEC rules .
- Committee assignments: Audit Committee Chair (and Audit Committee Financial Expert); member, Nominating & Corporate Governance Committee .
- Attendance and engagement: 100% attendance by all trustees at 2024 Board and applicable committee meetings; Board held 4 meetings; Audit 4; Nominating & Corporate Governance 4. All trustees also had 100% attendance at the 2024 Annual Meeting .
- Executive sessions: Independent trustees regularly meet without management; Lead Independent Trustee presides .
- Board diversity/refresh: 7 of 9 independent; average tenure ~10 years; ongoing refreshment process .
Fixed Compensation (Director)
| Metric (2024) | Amount | Notes |
|---|---|---|
| Fees earned or paid in cash | $107,500 | Reflects Board retainer ($80,000), Audit Chair fee ($20,000), Nominating & Corporate Governance membership ($7,500) |
| Share awards (grant-date fair value) | $127,681 | 11,711 restricted shares; vests ratably on first four quarterly anniversaries of grant |
| All other compensation | $3,240 | Dividends on unvested restricted shares plus limited hotel allowance usage |
| Total (2024) | $238,421 | Sum of above |
- Director pay structure: Non-employee trustee retainer $80,000 cash + $130,000 annual restricted share grant; additional fees for committee roles (Audit Chair $20,000; Nominating & Corporate Governance membership $7,500) .
- Vesting: Annual director equity grants vest quarterly over one year (four quarterly anniversaries) .
Performance Compensation
- Non-employee trustee equity is time-based (restricted shares); no performance or TSR metrics are applied to director equity. 2024 award: 11,711 restricted shares (grant-date fair value $127,681); as of 12/31/2024, each non-employee trustee held 5,856 unvested restricted shares from the 2024 grant .
| Director Equity Detail | 2024 Grant | Vesting | Unvested at 12/31/2024 |
|---|---|---|---|
| Restricted common shares | 11,711 | Quarterly over four quarters | 5,856 shares |
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Current public company boards | None |
| Other current roles | LivAway Suites (Director); multiple prior advisory roles (private firms) |
| Compensation Committee interlocks | None in 2024 (for RLJ Comp Committee); La Forgia is not a member of Comp Committee |
Expertise & Qualifications
- Deep public company finance and accounting expertise; former CFO of Hilton Hotels; extensive hospitality sector operating and capital markets experience .
- Audit Committee Financial Expert designation under SEC/NYSE standards .
- Real estate, capital markets, and hospitality strategy experience supporting RLJ’s portfolio focus .
Equity Ownership
| Item | Detail |
|---|---|
| Total beneficial ownership (3/6/2025) | 109,328 shares (includes time-vested restricted shares) |
| Unvested director shares (12/31/2024) | 5,856 (from 2024 grant) |
| Ownership guidelines | Non-employee directors required to hold 5x base cash retainer; all trustees except Ms. Zeigler (within grace period) met guidelines as of 12/31/2024 — implies La Forgia is compliant |
| Hedging/pledging | Prohibited by policy (no hedging or pledging of Company securities) |
Insider Trades (Form 4)
| Filing Date | Transaction Date | Type | Shares | Price | Post-Transaction Ownership | Source |
|---|---|---|---|---|---|---|
| 2025-04-29 | 2025-04-25 | Award (A) | 18,518 | $7.02 | 127,846 | https://www.sec.gov/Archives/edgar/data/1511337/000106299325008188/0001062993-25-008188-index.htm |
| 2024-04-29 | 2024-04-25 | Award (A) | 11,711 | $11.10 | 109,328 | https://www.sec.gov/Archives/edgar/data/1511337/000106299324008987/0001062993-24-008987-index.htm |
Note: Awards align with annual director equity grants disclosed in the proxy (time-based restricted shares) .
Governance Assessment
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Strengths
- Independent director with sector-specific CFO pedigree; serves as Audit Committee Chair and SEC-defined financial expert, enhancing financial oversight and cybersecurity risk oversight per committee charter .
- 100% meeting attendance and engagement; board-wide adherence to strong governance practices (separate Chair/CEO, Lead Independent Trustee, majority independent board) .
- Ownership alignment via equity retainer; complies with 5x retainer ownership guideline; hedging/pledging prohibited .
-
Potential Conflicts/Red Flags
- No related-party transactions disclosed involving La Forgia; RLJ maintains a formal related-party transactions policy overseen by the Audit Committee .
- External role as CEO of Apertor Hospitality (hospitality advisory) could present theoretical related-party exposure if engaged by RLJ, but no such transactions are disclosed in the proxy .
- Company-level related party items were limited to arrangements with RLJ Companies (Executive Chairman’s affiliate), not involving La Forgia .
-
Shareholder Signals
- Strong 2024 Say-on-Pay support (91% approval), suggesting broader investor confidence in governance and compensation frameworks that Audit and Nominating committees oversee .
- Audit Committee, chaired by La Forgia, provided the 2024 Audit Committee Report and recommended inclusion of audited financials in Form 10-K .
Overall, La Forgia’s finance depth, committee leadership, and clean related-party profile support board effectiveness and investor confidence; continued monitoring should focus on maintaining independence around any Apertor engagements and sustained audit/cyber oversight.