Keith Bassano
About Keith Bassano
Keith Bassano, 37, was appointed Chief Financial Officer and Treasurer of Southland Holdings effective March 28, 2025, after serving as Vice President of Finance since September 2020 and holding leadership roles at American Bridge (a Southland subsidiary) since 2008 . He holds a B.S. in Accounting from Duquesne University, an MBA from Robert Morris University, and is a licensed CPA . During his early tenure as CFO, company performance improved year-over-year: Q3 2025 revenue rose 23.1% to $213.3M and EBITDA improved from $(58.7)M to $(3.5)M; Q2 2025 also showed margin recovery with EBITDA of $4.2M vs $(49.9)M in Q2 2024 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Southland Holdings, Inc. | Vice President of Finance | 2020–2025 | Oversaw finance, accounting, and HR functions, building experienced finance team |
| American Bridge (Southland subsidiary) | Finance leadership roles | 2008–2020 | Led finance, accounting, HR initiatives within subsidiary operations |
| Southland Holdings, Inc. | Chief Financial Officer & Treasurer | 2025–present | Principal financial and accounting officer; signed SEC filings and led investor communications |
External Roles
No external public company board roles or committee positions are disclosed for Bassano in company filings reviewed .
Fixed Compensation
| Component | Amount | Effective Date | Notes |
|---|---|---|---|
| Annual Base Salary | $357,000 | March 28, 2025 | Eligible to participate in the 2022 Equity Incentive Plan |
Performance Compensation
- Eligible to participate in Southland’s 2022 Equity Incentive Plan; no Bassano-specific RSU/PSU grants, performance weightings, or payouts are disclosed in the filings reviewed .
- Company-wide NEO PSUs (not specific to Bassano) vest based on Adjusted EBITDA, with 0–150% payout potential; 2024 PSU targets for 101,626 shares were not achieved and returned to the plan .
Equity Ownership & Alignment
- Beneficial ownership: Bassano does not appear in the April 24, 2025 beneficial ownership table, which lists executive officers and directors with reportable stakes; this suggests no disclosed ownership above reporting thresholds as of that date .
- Hedging: The Insider Trading Policy prohibits hedging transactions for insiders, including executive officers .
- Pledging and ownership guidelines: No Bassano-specific pledging disclosures or stock ownership guideline details are provided in the filings reviewed .
Employment Terms
| Term | Detail |
|---|---|
| Position | Chief Financial Officer and Treasurer |
| Appointment | Appointed March 19, 2025; effective March 28, 2025 |
| Contract Term | Not disclosed |
| Base Salary | $357,000 effective March 28, 2025 |
| Incentive Eligibility | Eligible to participate in the 2022 Equity Incentive Plan |
| Severance | Not disclosed for Bassano |
| Change-in-Control | Not disclosed for Bassano |
| Non-compete / Non-solicit | Not disclosed for Bassano |
| Clawback Policy | Company maintains a Clawback Policy (Exhibit 97.1 referenced in 10-K) |
Performance & Track Record
Q2 and Q3 2025 company results during Bassano’s early CFO tenure:
| Metric | Q2 2024 | Q2 2025 |
|---|---|---|
| Revenue ($000s) | $251,512 | $215,382 |
| Gross Profit (Loss) ($000s) | $(40,022) | $13,363 |
| Gross Margin (%) | (15.9%) | 6.2% |
| EBITDA ($000s) | $(49,922) | $4,190 |
| Metric | Q3 2024 | Q3 2025 |
|---|---|---|
| Revenue ($000s) | $173,320 | $213,343 |
| Gross Profit (Loss) ($000s) | $(51,105) | $3,275 |
| Gross Margin (%) | (29.5%) | 1.5% |
| EBITDA ($000s) | $(58,740) | $(3,501) |
Additional operating context:
- SG&A reduced to $14.6M in Q3 2025 (6.8% of revenue) vs $17.5M in Q3 2024 (10.1%) .
- Backlog at $2.26B as of September 30, 2025 (from $2.57B at December 31, 2024) .
- CFO contact and investor relations responsibilities disclosed in earnings releases .
Compensation Committee & Governance Context
- Compensation Committee members (2025): Kyle Burtnett (Chair), Izzy Martins, Greg Monahan; all independent per NYSE .
- Meridian Compensation Partners engaged in 2024 to advise on peer groups and share-based compensation design; no conflicts identified .
- Anti-hedging policy applies to all insiders; the company is a controlled company but currently adheres to full NYSE governance standards .
Investment Implications
- Pay structure: Bassano’s base salary of $357,000 is modest relative to prior CFO compensation levels in 2024 (Gallarda’s base $465,000), and equity award specifics for Bassano are not disclosed, limiting near-term insider selling pressure visibility .
- Alignment: Company-wide anti-hedging policy strengthens alignment; absence from beneficial ownership tables suggests limited disclosed equity exposure for Bassano as of April 24, 2025, which may temper “skin-in-the-game” signals until equity grants are reported .
- Execution risk: Early tenure coincides with margin improvement and EBITDA recovery in Q2/Q3 2025 and tighter SG&A, supporting a turnaround narrative; continued resolution of legacy projects and backlog quality will be key to sustaining performance .
- Governance protections: Presence of a formal clawback policy and independent compensation oversight supports compensation discipline, though Bassano-specific severance/CIC terms are not disclosed in reviewed filings .