Izzy Martins
About Izzy Martins
Izzy Martins (age 53) is an independent director of Southland Holdings, Inc. (SLND) serving since the February 2023 business combination; she is Executive Vice President and Chief Financial Officer of Avis Budget Group, Inc. (since January 2024) and holds a B.S. in Accounting and a J.D. from Seton Hall University; the Board has designated her as an “audit committee financial expert” under SEC rules . In 2024, the Board met four times and each director, including Martins, attended at least 75% of Board and applicable committee meetings .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Avis Budget Group, Inc. | EVP & CFO | Jan 2024–present | Senior finance leadership; external reporting accountability |
| Avis Budget Group, Inc. | EVP | Jun 2020–Dec 2023 (interim since Jan 2020) | Oversight of strategic and financial functions |
| Avis Budget Group, Inc. | SVP & CFO, Americas | May 2014–Dec 2019 | Regional finance leadership |
| Avis Budget Group, Inc. | SVP & Acting Chief Accounting Officer | Nov 2010–May 2014 | Accounting oversight |
| Avis Budget Group, Inc. | VP of Tax | Aug 2006–Nov 2010 | Tax strategy |
| Cendant Corporation | Director of Tax Planning & M&A | Nov 2004–Aug 2006 | Transaction tax structuring |
| Deloitte & Touche LLP | Various roles | ~7 years (prior to 2004) | Audit/tax foundation |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Avis Budget Group, Inc. | EVP & CFO | Jan 2024–present | Public company officer; no SLND interlock disclosed |
Board Governance
- Committee assignments: Audit Committee Chair; Compensation Committee member; not on Nominating & Governance Committee .
- Independence: Martins is classified as an independent director under NYSE rules; SLND is a “controlled company” but currently complying with full NYSE governance requirements .
- Meeting cadence and attendance: Board met 4 times in 2024; each director attended ≥75% of Board and committee meetings; all Board committees met 4 times in 2024 .
- Leadership structure: CEO Frank Renda serves as acting interim Chairman; SLND does not have a Lead Independent Director .
- Anti-hedging: Insider Trading Policy prohibits hedging by directors and officers .
- Governance enhancement in process: Board proposed and recommends declassification (annual elections) effective upon stockholder approval in 2025; if approved, all directors will stand for one-year terms starting 2026 .
Fixed Compensation
| Component | Amount (USD) | Detail |
|---|---|---|
| Annual cash retainer (2024 paid) | $45,000 | Annualized $75,000 retainer instituted June 2024; cash paid totaled $45,000 for 2024 |
| Audit Committee Chair fee (2024) | $10,000 | Additional cash compensation for Audit Chair |
| Total cash fees (2024) | $55,000 | Sum of retainer and chair fees |
| Meeting fees | Not disclosed | No meeting fees described in director program |
Performance Compensation
| Award Type | Grant Date | Shares/Units | Grant-Date Fair Value (USD) | Vesting |
|---|---|---|---|---|
| RSUs (non-employee director grant) | Jun 25, 2024 | 19,956 | $91,398 | Vesting terms not disclosed for director RSUs |
- No options, PSUs, or performance-based metrics are disclosed for director compensation; director equity is presented as RSUs with grant-date fair value, without stated performance criteria .
Other Directorships & Interlocks
- Public company directorships: None disclosed for Martins .
- Interlocks/conflicts: No related-party transactions involving Martins are disclosed; Audit Committee (chaired by Martins) oversees related-party transactions per charter –.
Expertise & Qualifications
- Audit committee financial expert (SEC definition) and financially literate; designated alongside Monahan and Burtnett .
- Education: B.S. in Accounting and J.D., Seton Hall University .
- Deep experience across tax, accounting, and finance leadership at a large-cap public company (Avis), including CFO roles .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Outstanding |
|---|---|---|
| Izzy Martins | 27,130 | <1% (of 53,996,404 shares outstanding) |
- Pledging/hedging: Hedging prohibited under SLND’s insider trading policy; no pledging disclosures for Martins .
- Vested vs. unvested breakdown: Not disclosed for Martins; beneficial ownership table provides aggregate shares only .
Governance Assessment
- Strengths: Independent audit chair with SEC “financial expert” status; Board committees fully independent; anti-hedging policy; acceptable attendance; proposed declassification to annual elections aligns with investor best practices –.
- Compensation alignment: 2024 director pay combines moderate cash retainer plus RSU grant; modest chair premium; no performance-linked metrics for directors, consistent with small/mid-cap practices .
- Red flags and risks: SLND is a controlled company (may opt out of certain NYSE governance requirements in future); absence of a Lead Independent Director with CEO as acting interim Chair; significant related-party transactions exist at the company level (sale-leaseback entity with management minority interests, historical insider notes), though none involve Martins personally and Audit Committee oversight is in place .
- Overall: Martins’ audit leadership, independence, and finance credentials support board effectiveness and investor confidence; monitoring is warranted on broader governance structure (controlled company status, leadership concentration) and any evolution in director pay/equity structures .