Jeff Feeley
About Jeff Feeley
Jeff Feeley is Chief Financial Officer of Rigel Resource Acquisition Corp. (RRACF) and serves as the company’s Principal Financial and Accounting Officer as of March 21, 2025 . He is 46 years old, holds a BS in Accounting from Rutgers University, and is a licensed CPA in New York . Feeley is also CFO at Orion Resource Partners, with prior finance leadership roles at Citadel’s Global Equities division and over 13 years as a Controller at Goldman Sachs, bringing deep expertise in fund accounting, financial reporting, and regulatory reporting .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Goldman Sachs | Controller | 13+ years | Led fund accounting, financial and regulatory reporting for funds |
| Citadel LLC (Global Equities) | Director of Finance | Not disclosed | Finance leadership; oversight of accounting and reporting processes |
| Public Accounting | Early career | Not disclosed | Foundational audit/accounting experience |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Orion Resource Partners | Chief Financial Officer | Current (not disclosed) | Planning, implementation, and strategic management of firm accounting/finance; budgeting, forecasting, vendor oversight; policy, controls; collaboration with IR, Technology, Compliance |
Fixed Compensation
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Executive cash compensation for officers/directors | None | None |
| Administrative services fee (paid to Sponsor) | $120,000 expense recorded | $120,000 expense recorded |
| Outstanding admin fee payable at year-end | $257,500 | $377,500 |
| Executive Item | FY 2024 |
|---|---|
| Base salary ($) | None (no cash compensation for officers/directors) |
| Target bonus (%) | Not disclosed |
| Actual bonus paid ($) | None |
Notes:
- RRACF pays the Sponsor $10,000/month for office space and administrative/support services until a business combination or liquidation .
- Officers/directors are reimbursed for out-of-pocket expenses related to deal activities; a Working Capital Loan facility from the Sponsor provides up to $1.5M, convertible at $1.00/warrant at the lender’s discretion upon business combination .
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| None disclosed for officers/directors pre-business combination | — | — | — | — | — |
- RRACF states officers/directors receive no cash compensation currently, and any compensation post-business combination will be determined by a compensation committee of independent directors and disclosed in transaction materials .
Equity Ownership & Alignment
| Ownership (Shares) | Mar 21, 2025 | Jul 28, 2025 |
|---|---|---|
| Class A Ordinary Shares beneficially owned | 0 (not listed) | 0 (not listed) |
| Class B (Founder Shares) beneficially owned | 0 (not listed) | 0 (not listed) |
| Ownership % of outstanding | 0% (not listed) | 0% (not listed) |
| Alignment Item | Terms |
|---|---|
| Founder Shares lock-up (company-level terms) | Non-transferable until the earlier of: (A) 1 year post-business combination; or (B) after 150 days if Class A trades ≥$12 for 20 of 30 trading days; or (C) completion of a liquidation/merger/capital share exchange |
| Voting & redemption waivers | Initial shareholders, directors, and officers agreed to waive redemption rights on Founder/Public Shares in connection with the initial business combination and certain charter amendments; agreed to vote Founder/Public Shares in favor of the initial business combination |
| Private Placement Warrants | 14,000,000 warrants purchased by Sponsor, an affiliate, and certain directors/officers at $1.00/each; exercisable at $11.50/share; not transferable until 30 days post-business combination |
| Pledging/Hedging | Not disclosed |
Employment Terms
| Term | Details |
|---|---|
| Employment agreement | Not disclosed |
| Severance | None; RRACF is not party to agreements providing benefits upon termination of employment for officers/directors |
| Change-of-control provisions | Not disclosed |
| Indemnification/exculpation | Rights under the Charter to indemnification/exculpation for officers/directors continue; if extension not approved and liquidation occurs, company may not be able to perform obligations under those provisions |
| Clawback provisions | Not disclosed |
| Ownership guidelines | Not disclosed |
| Non-compete / non-solicit | Not disclosed |
Governance Context (Comp Committee & Conflicts)
- Compensation Committee members: Christine Coignard (Chair), Kelvin Dushnisky, L. Peter O’Hagan, Timothy Keating; responsibilities include reviewing officer compensation and administering equity/incentive plans post-combination .
- Corporate opportunities/affiliations: RRACF’s charter renounces certain corporate opportunities; multiple affiliations require directors/officers (including Feeley as Orion CFO) to honor fiduciary/contractual obligations to other entities, creating potential conflicts, mitigated by fairness opinion processes for affiliate deals .
Investment Implications
- Alignment and selling pressure: Feeley reported no beneficial ownership of Class A or Founder Shares as of March 21 and July 28, 2025, reducing direct insider selling pressure and equity-aligned incentives pre-business combination .
- Compensation visibility: No cash comp or severance for officers/directors until after a business combination; pay structures will be set by an independent compensation committee of the combined company, creating uncertainty on future pay-for-performance alignment .
- Sponsor economics and lock-ups: Company pays $10,000/month to Sponsor; Founder Shares and Private Placement Warrants carry lock-up and transfer restrictions (price/event triggers), which can influence insider liquidity timing post-combination, though Feeley is not listed with Founder Shares .
- Conflict-of-interest risk: Feeley’s concurrent role as Orion CFO and RRACF’s charter renunciation of corporate opportunities introduce structural conflict risks; affiliate transactions require independent fairness opinions to protect shareholders .
Bottom line: Current disclosures show minimal direct equity alignment for Feeley pre-deal, no guaranteed cash/severance, and structural conflict mitigations via governance processes. Post-combination compensation and any equity grants will be the pivotal levers to assess alignment, retention risk, and potential trading signals once the combined company’s policies and performance metrics are disclosed .