Robert DeLucia
SharplinkAbout Robert DeLucia
Robert “Bob” DeLucia (age 61) is Chief Financial Officer of SharpLink Gaming, Inc., serving as CFO since February 2024 after acting as CFO of SharpLink Israel from August 2022 through February 2024; he previously held senior accounting leadership roles including Chief Accounting Officer at GTT Communications in 2022 and Corporate Controller at Adelphia during its fraud investigation and multi‑year restatement, following audit leadership roles at KPMG and Arthur Andersen and earning BA and BS degrees from Robert Morris University . During 2024, company pay‑vs‑performance disclosures show the value of a $100 TSR investment at $60 and GAAP net income of $10.10 million, contextualizing the operating backdrop during his CFO tenure initiation .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| SharpLink Gaming, Inc. (US) | Chief Financial Officer | Feb 2024 – present | Principal financial officer; led public company financial reporting and compliance post‑domestication merger . |
| SharpLink Gaming Ltd. (Israel) | Chief Financial Officer | Aug 2022 – Feb 2024 | Managed finance through domestication merger; restructured controls and reporting cadence . |
| GTT Communications | Chief Accounting Officer | Feb 2022 – Dec 2022 | Developed accounting/finance turnaround plan for a Tier‑1 backbone provider . |
| Adelphia Communications | Corporate Controller | ~Jun 2002 onward (multi‑year restatement) | Led restatement of five years of financials; prepared DOJ trial reports on fraud mechanics . |
| KPMG; Arthur Andersen | Audit Senior Manager | 1985 – 1998 | Led audit engagements; technical US GAAP/SEC expertise foundation . |
Fixed Compensation
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Base Salary ($) | 80,385 | 220,000 | 230,000 |
| All Other Comp ($) | 0 | 0 | 0 |
| Total Cash (Salary + Other) ($) | 80,385 | 220,000 | 230,000 |
| 2025 Fixed Compensation Terms (per Amended Employment Agreement) | Value |
|---|---|
| Annual Base Salary | $261,684 (increase contingent on Nasdaq compliance by May 23, 2025) . |
| Perquisites | Up to $10,000 annually for term life insurance premiums and optional executive health exams not covered by benefits . |
Performance Compensation
| Incentive Type | Weighting/Target | 2022 Actual | 2023 Actual | 2024 Actual | Vesting |
|---|---|---|---|---|---|
| Annual Performance Bonus (cash) | Up to 50% of base salary (2025 plan) | 30,938 | 48,938 | 170,938 (includes payments for FY23 and FY24 paid in 2024) | Cash; N/A . |
| RSUs (time‑based) | Committee‑approved grants; 2024 tranches quarterly | — | — | $112,000 grant fair value | 20,000 vesting on 3/31/24; 20,000 on 6/30/24; 20,000 on 9/30/24; 20,000 on 12/31/24 . |
| Options | Plan‑based; service‑vesting; 10‑year term | $21,399 FV | $34,836 FV | $35,445 FV | Generally 3‑year vest; accelerated upon change‑of‑control under plan terms . |
Notes on metrics and plan design:
- 2025 plan sets annual cash bonus target at 50% of base salary; specific performance metrics/weights for CFO are not disclosed in the proxy (committee‑approved goals; peer benchmarking used) .
- Company has a formal Clawback Policy covering incentive compensation tied to financial reporting measures (e.g., revenue, net income, EPS, stock price/TSR, EBITDA), triggered upon restatement per SEC and exchange rules .
Equity Ownership & Alignment
| Beneficial Ownership Snapshot | Shares | % Outstanding | Notes |
|---|---|---|---|
| As of Mar 28, 2025 | 96,944 | 1.4% | Includes 1,111 options exercisable within 60 days; pre reverse‑split share count base 6,903,056 . |
| As of Aug 29, 2025 | 21,966 | de minimis (“*” in table) | Excludes 185,334 unvested RSUs and 1,609 stock options (post 1:12 split scaling) . |
| Options Outstanding (12/31/2024) | Exercisable | Unexercisable | Strike ($) | Expiration |
|---|---|---|---|---|
| Grant A | 12,500 | 2,500 | 12.00 | 08/22/2032 |
| Grant B | 3,333 | 1,667 | 4.40 | 02/27/2033 |
| RSU Grants and Vesting (2024) | Grant Date | Tranche | Vest Date |
|---|---|---|---|
| 20,000 RSUs | 02/16/2024 | Tranche 1 | 03/31/2024 |
| 20,000 RSUs | 02/16/2024 | Tranche 2 | 06/30/2024 |
| 20,000 RSUs | 02/16/2024 | Tranche 3 | 09/30/2024 |
| 20,000 RSUs | 02/16/2024 | Tranche 4 | 12/31/2024 |
Alignment policies and trading controls:
- Hedging, shorting, and pledging of Company securities are prohibited; margin accounts are not permitted for insiders .
- Mandatory pre‑clearance for Section 16 insiders; blackout windows one month before quarter‑end through two full trading days after earnings release; 10b5‑1 plans require pre‑approval (none adopted by officers/directors in 2024) .
Employment Terms
| Term | Provision |
|---|---|
| Agreement & Term | Amended DeLucia Employment Agreement approved Mar 19, 2025; two‑year term with automatic one‑year renewals unless 120‑day notice given . |
| Base Salary | $261,684 (subject to Nasdaq compliance milestone by May 23, 2025) . |
| Target Bonus | Up to 50% of base salary; committee discretion and CEO input on metrics (except for CEO) . |
| RSU Opportunity (2025) | Eligible for up to 130,842 RSUs, contingent on predefined 2025 performance benchmarks and shareholder approval for additional plan shares . |
| Severance (No‑Cause/Good Reason) | 12 months continuation of base salary + COBRA reimbursement to maintain employee‑rate cost for up to one year; lump‑sum severance equal to 100% of base salary . |
| Change‑of‑Control | Certain option and share awards provide accelerated vesting upon change in control per equity plan . |
| Clawback | Company clawback policy applies to incentive compensation tied to financial reporting measures upon restatement . |
| Insider Trading Policy | Mandatory pre‑clearance, blackout periods, and prohibition on hedging/pledging; addendum sets Form 4 filing support and broker instruction letters . |
| 2025 Employment Agreement Reference | Employment Agreement by and between SharpLink Gaming, Inc. and Bob DeLucia dated July 25, 2025 (incorporated by reference) . |
Multi‑Year Compensation
| Component ($) | 2022 | 2023 | 2024 |
|---|---|---|---|
| Salary | 80,385 | 220,000 | 230,000 |
| Bonus | 30,938 | 48,938 | 170,938 |
| Option Awards (Grant‑date FV in financials) | 21,399 | 34,836 | 35,445 |
| Stock Awards/RSUs (Grant‑date FV in financials) | — | — | 112,000 |
| All Other Comp | — | — | — |
| Total | 132,722 | 303,774 | 548,383 |
Performance Context (Company‑level)
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Value of $100 TSR Investment ($) | 88.71 | 58.85 | 60.00 |
| GAAP Net Income (Loss) ($) | (15,233,378) | (14,243,182) | 10,099,619 |
Compensation Governance & Peer Benchmarking
- Compensation Committee: Independent directors Obie McKenzie (Chair), Leslie Bernhard, Robert Gutkowski; oversees executive pay, equity plans, clawback, and option grant policy .
- 2025 Peer Group: Connexa Sports Technologies; Gryphon Digital Mining; Hall of Fame Resort & Entertainment; Marin Software; Motorsport Games; Nextrip; Verb Technology (Nasdaq‑listed, sub‑$15mm market cap; adjacent sectors) .
- Say‑on‑Pay: 2024 advisory vote approved at 97% support, indicating shareholder alignment with compensation approach .
Investment Implications
- Pay‑for‑performance alignment: Annual bonus target at 50% of salary and 2025 RSU opportunity are contingent on predefined performance benchmarks, with formal clawback covering financial metric‑based incentives; however, specific CFO performance metrics/weights are not disclosed, limiting forward‑looking payout modeling .
- Retention and selling pressure: Robust insider trading controls (pre‑clearance, blackout windows), hedging/pledging prohibitions, and no 10b5‑1 plans in 2024 reduce near‑term insider selling pressure signals; unvested RSU overhang (185,334) suggests meaningful retention equity outstanding as of Aug 2025 .
- Change‑of‑control economics: Equity plans allow accelerated vesting on change‑of‑control, and severance includes 12 months salary continuation plus lump‑sum base salary—moderate protection without disclosed tax gross‑ups; this is standard but could create event‑driven payout asymmetry for holders .
- Execution track record: 2024 net income swung positive while TSR remained depressed; DeLucia’s background in complex restatements and turnarounds supports internal control and reporting execution, but equity‑linked pay realization will hinge on sustained operational value creation beyond ETH treasury strategy volatility .