Matthew Casella
About Matthew Casella
Matthew G. Casella (age 47) has served as President of Richtech Robotics since August 2023; he holds a B.S. in Finance from the University of Illinois Urbana-Champaign (2001) and brings 20+ years in finance, hospitality, and technology with a track record in project management and strategic planning . Revenue has trended between ~$0.5–1.4M per quarter across FY2024–Q3 FY2025 while EBITDA remained negative after IPO, underscoring early-stage execution demands during his tenure (see Financial Performance table below; values retrieved from S&P Global).*
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Caravive, Inc. | Co-Founder | 2019–2023 | Early-stage food tech development; collaborated with industry experts to innovate in restaurant sector |
| PRG, LLC (restaurant automation startup) | Chief Financial Officer | 2015–2021 | Led finance at automation startup; experience across finance and operations |
| LYFE Kitchen | Director of Training & Deployment | 2012–2015 | Helped grow chain from 1 to 16 locations across NY, TN, IL, CO, TX, CA |
External Roles
No current external public-company directorships or committee roles for Casella are mentioned in the company’s proxy or 10-K/A biographies .
Fixed Compensation
| Name | FY | Base Salary ($) | Bonus ($) | Option Awards ($) | Non-Equity Incentive ($) | Nonqualified Deferred Comp ($) | All Other ($) | Total ($) |
|---|---|---|---|---|---|---|---|---|
| Matthew Casella (President) | 2024 | 168,654 | — | — | — | — | — | 180,000 |
- Employment agreement date: August 15, 2023 .
Performance Compensation
| Incentive Type | Metric(s) | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| Annual stock option program (“50+70” plan) | Completion of annual performance targets | Not disclosed | Not disclosed | Not disclosed | 50,000 options vest after 1 year; additional 70,000 options contingent on targets | 50,000 options: time-based 1 year; 70,000 options: performance-based |
| Restricted/stock grant | 60,000 shares of Class B Common Stock | N/A | N/A | Granted 11/20/2024 | 60,000 shares | Vesting terms not disclosed |
- Outstanding equity awards at FY-end 2024: None reported for Casella (no exercisable/unexercisable options, no unvested units) .
- Incentive Plan mechanics: options/RSAs/RSUs available; max option term 10 years; exercise price set at grant; change-in-control may trigger accelerated vesting or assumption/substitution; awards are non-transferable (no pledging/sale/assignment) except by will/descent .
Equity Ownership & Alignment
| As-of Date | Class A Shares | Class B Shares | % of Total Voting Power | Notes |
|---|---|---|---|---|
| January 14, 2025 | — | 60,000 | <1% | Address listed; sole voting/investment power unless noted |
| August 25, 2025 | — | — | — | Casella not listed with ownership at this later record date |
| September 30, 2024 (FY-end awards table) | — | — | — | No outstanding options/units reported |
- Shares pledged as collateral: Not disclosed; Incentive Plan prohibits pledging/transfer of awards .
- Stock ownership guidelines and compliance: Not disclosed in proxy .
Employment Terms
| Term | Detail |
|---|---|
| Start date & role | President since August 2023 |
| Agreement date | August 15, 2023 |
| Base salary | $168,654 (FY2024) |
| Annual equity program | “50+70” option plan: 50,000 vested after one year of service; up to 70,000 options based on annual performance targets |
| Stock grant | 60,000 Class B shares granted on November 20, 2024 |
| Severance | Amount “as required” under Employment Standards Act 2000 or applicable legislation; constitutes entire entitlement upon termination without cause |
| Non-compete / non-solicit | 12-month non-competition and non-solicitation following termination |
| Clawback policy | Executive Compensation Clawback Policy adopted Nov 13, 2023 (effective Oct 2, 2023); mandatory recovery for restatements over prior 3 fiscal years per Nasdaq Rule 5608 |
| Change-in-control (plan) | Incentive Plan allows continuation/assumption/substitution or accelerated vesting with limited exercise window |
| Award transferability | Awards may not be sold, pledged, assigned, or transferred; only by will or laws of descent/distribution |
Financial Performance During Tenure (context for pay-for-performance)
| Metric | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue ($USD) | 5,395,000* | 1,106,000 | 1,165,000 | 1,443,000 | 525,000* | 1,257,000 | 1,167,000 | 1,177,000 |
| EBITDA ($USD) | 2,784,000* | -2,259,000* | -946,000* | -891,000* | -2,896,000* | -3,385,000* | -4,722,000* | -3,602,000* |
| Net Income ($USD) | 2,204,000* | -2,748,000* | -1,120,000* | -1,313,000* | -2,959,000* | -3,548,000* | -4,540,000* | -4,063,000* |
| Gross Margin (%) | 77.31%* | 55.15%* | 58.37%* | 70.27%* | 79.24%* | 90.21%* | 61.10%* | 74.43%* |
Values retrieved from S&P Global.*
Investment Implications
- Pay-for-performance transparency is limited: While the “50+70” structure ties a tranche to annual performance targets, the company does not disclose specific metrics, weightings, or payout curves—reducing the ability to gauge alignment and predict payouts .
- Retention and termination economics: Severance is statutory rather than formulaic multiples, and a 12-month non-compete/non-solicit applies—suggesting manageable termination costs but some retention protection for the company .
- Ownership alignment is modest: Casella held 60,000 Class B shares (<1% voting power) as of January 14, 2025, but was not listed with ownership as of August 25, 2025; the filings do not explain the change, and there are no outstanding options/units at FY2024—near-term insider selling pressure appears low, though grant terms/vesting are undisclosed .
- Change-in-control provisions can accelerate equity: The Incentive Plan permits accelerated vesting or assumption/substitution upon a change-in-control, potentially increasing realized pay and reducing retention post-transaction .
- Governance controls: A formal clawback policy is in place per Nasdaq 5608, and awards cannot be pledged/transferred—supportive of shareholder-friendly risk mitigation, though lack of detailed COE metrics leaves performance alignment opaque .