Eric Schuppenhauer
SoFi TechnologiesAbout Eric Schuppenhauer
Eric Schuppenhauer, age 54, is Executive Vice President and Group Business Unit Leader, Borrow, at SoFi, having joined in August 2024. He holds a B.S. in Commerce (Accounting) from the University of Virginia and is a Certified Public Accountant; prior roles include leading consumer lending at Citizens Financial Group, mortgage originations/servicing leadership at Capital One, and mortgage CFO and senior leadership roles at JPMorgan Chase & Co. . During 2024, SoFi delivered record total net revenue of $2.7B (adjusted net revenue $2.6B), net income of $498.7M, adjusted EBITDA of $666.5M, and year-end members over 10.1M (+34% YoY), which informed annual incentive outcomes for Named Executive Officers including Schuppenhauer .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Citizens Financial Group | EVP, Head of Consumer Lending | Mar 2018 – Aug 2024 | Led consumer lending; senior P&L responsibility over consumer credit products |
External Roles
None disclosed in company filings for Schuppenhauer (boards/committee positions not listed) .
Fixed Compensation
| Metric | 2024 |
|---|---|
| Annualized Base Salary ($) | $500,000 |
| Salary Paid in 2024 ($) | $192,308 (prorated from Aug 2024 start) |
| Target Bonus (% of Salary) | 100% |
| Actual Annual Cash Bonus Paid ($) | $226,952 (117.5% plan funding; 100% individual multiplier; prorated) |
| Sign-on Bonus ($) | $150,000 (not earned until 2nd anniversary; repayable if voluntary resignation within 24 months or termination for Cause) |
Performance Compensation
2024 Annual Cash Bonus Plan – Corporate Metrics and Outcomes
| Metric | Weighting | Achievement vs Target | Payment % for Metric |
|---|---|---|---|
| Adjusted Net Revenue | 35% | 105% of target | 118% |
| Adjusted EBITDA | 35% | 93% of target | 109% |
| New Members | 15% | 134% of target | 138% |
| Return on Tangible Equity (ROTE) | 15% | 101% of target | 115% |
| Aggregate Funding | — | — | 118% (adjusted to 117.5%) |
Bonus structure: CEO/NEO payouts capped at 200% of target; risk management effectiveness used as a modifier; Schuppenhauer’s individual multiplier was 100% for 2024 .
2024 Equity Grants (Long-Term Incentives)
| Award Type | Grant Date | Shares Granted | Grant Date Fair Value ($) | Vesting Schedule |
|---|---|---|---|---|
| RSU (New Hire) | Sep 9, 2024 | 891,694 | $6,313,194 | 12.5% on the 6-month anniversary of Aug 14, 2024; 6.25% quarterly thereafter over 4 years, subject to continued service |
PSUs extended to all eligible executives in 2025, but Schuppenhauer was not eligible for annual grants in 2025 due to his 2024 new hire status .
Equity Ownership & Alignment
| Item | Value |
|---|---|
| Beneficial Ownership (Shares) | 181,930 |
| Ownership as % of Shares Outstanding | <1% (1,104,104,203 shares outstanding as of 3/31/2025) |
| Vested vs Unvested | Unvested RSUs: 891,694 (MV $13,732,088 at $15.40 as of 12/31/2024) |
| RSUs Vesting Within 60 Days of 3/31/2025 | 55,730 shares |
| Options (Exercisable/Unexercisable) | None disclosed for Schuppenhauer |
| Shares Pledged as Collateral | Not permitted absent written approvals; none disclosed |
| Stock Ownership Guidelines | 3.0x annual base salary; retain ≥50% of net profit shares until compliant; majority of covered individuals in compliance as of 12/31/2024 |
Employment Terms
- Start date and role: Joined SoFi as EVP, Group Business Unit Leader, Borrow, in August 2024 .
- Offer letter: Executed July 8, 2024; standard terms (base, annual bonus eligibility, benefits); $150,000 sign-on bonus structure (earn upon 2nd anniversary; repay if voluntarily leaving within 24 months or terminated for Cause) .
- Base compensation: $500,000 annualized base salary; target bonus 100% of base .
- Notice period: 60-day advance written notice required by both parties; company may relieve duties while continuing pay/benefits during notice period (garden leave-like treatment); Cause exclusions defined .
- Severance & Change-of-Control (Executive Severance Plan):
- Termination Without Cause (no Sale Event): 12 months salary continuation; prorated annual bonus subject to criteria; COBRA contributions up to 12 months .
- Double-Trigger (Sale Event + Qualifying Termination): Lump-sum 12 months base salary; lump-sum 100% of target bonus; 100% vesting of time-based equity; COBRA contributions up to 12 months .
- Estimated economics (as of 12/31/2024):
- Qualifying Termination: Cash $1,000,000; Equity Acceleration $0; Health $39,897; Total $1,039,897 .
- Qualifying Termination with Change of Control: Cash $1,000,000; Equity Acceleration $13,732,088; Health $39,897; Total $14,771,985 .
- Clawback policy: Adopted Oct 2023 to comply with Exchange Act Rule 10D-1; amended Jul 2024 to cover SVPs/VPs, misconduct-related recoupment, and time-based equity awards .
- Hedging/pledging & insider trading: Short sales, most derivatives and hedging prohibited; limited forward/option-based hedges may be approved; margin accounts and pledging prohibited absent written approvals by Compliance Officer and Board .
Investment Implications
- Retention and alignment: Significant unvested RSUs (891,694; MV $13.7M at $15.40 as of 12/31/2024) and a sign-on bonus contingent on two-year tenure support retention; double-trigger change-of-control terms reduce windfall risk while assuring retention in strategic transactions .
- Near-term selling pressure: RSUs vest on a front-loaded schedule (12.5% at six months, then 6.25% quarterly), creating predictable supply; 55,730 RSUs vest within 60 days of 3/31/2025 .
- Pay-for-performance linkage: 2024 bonus payouts for NEOs tied to adjusted net revenue, adjusted EBITDA, ROTE, and new members with aggregate funding at 117.5%; Schuppenhauer’s payout was $226,952 with a 100% individual multiplier, showing direct linkage to company performance .
- Governance and risk controls: Enhanced clawback policy, ownership guidelines (3x salary with 50% net profit share retention), and strict hedging/pledging prohibitions mitigate misalignment risks and discourage aggressive trading behaviors .
- PSU program trajectory: Company expanded PSU usage to executives in 2025 and targets 50% PSU mix by 2026 for NEOs; Schuppenhauer was not eligible for 2025 annual grants due to 2024 new hire, but future awards may increase performance sensitivity (e.g., TBV growth and TSR relative to Nasdaq Composite) .
Overall: Compensation design and ownership policies emphasize retention and alignment while allowing meaningful performance linkage; large unvested RSU position implies steady vest-related supply, but governance safeguards and double-trigger severance reduce adverse incentives in strategic events .