Greg Flamion
About Greg Flamion
Greg Flamion (age 48) is Chief Financial Officer of Strawberry Fields REIT, Inc. (STRW) since January 2024. He previously served as CFO of Zimmerman Advertising (Omnicom Group) from 2014–2023, and held accounting and finance roles at Diageo and Bristol Myers Squibb; he holds a B.A. in Economics from Purdue University and an MBA from the University of Florida, and is a licensed CPA in Indiana . Company context during his tenure: STRW grew revenues from $99.805M in FY2023 to $117.058M in FY2024 (+17.3% YoY), with net income rising from $2.496M to $4.095M; stock price increased from $7.79 to $10.54 in 2024, peaking at $12.90 . Flamion signed SOX 302/906 certifications on STRW’s 2024 and 2023 10-Ks, indicating responsibility for disclosure controls and financial reporting .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Zimmerman Advertising (Omnicom Group) | Chief Financial Officer | 2014–2023 | Oversaw finance at a major advertising agency; multi-year CFO leadership experience |
| Diageo | Accounting/Finance roles | Not disclosed | Large-cap consumer staples finance exposure |
| Bristol Myers Squibb | Accounting/Finance roles | Not disclosed | Large-cap pharma finance exposure |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Not disclosed | — | — | No external board roles disclosed for Flamion |
Fixed Compensation
| Year | Base Salary (USD) | Target Bonus % | Actual Cash Bonus (USD) | Total Cash (USD) |
|---|---|---|---|---|
| 2024 | $250,000 | Not disclosed | $0 | $250,000 |
- The company has not adopted formal executive compensation policies (base, bonus, equity) yet; the Compensation Committee expects to design programs tied to operating results, shareholder returns, and individual contributions .
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed for 2024 | — | — | — | — | — |
- No RSU/PSU/option awards, performance metrics, or vesting schedules are disclosed for Flamion in 2024; the firm signaled intent to implement longer-term equity awards in future policy design .
- In 2024, shareholders were asked to approve an increase in shares available under the 2021 Equity Incentive Plan, indicating capacity for future equity grants .
Equity Ownership & Alignment
| Holder | Shares Beneficially Owned | % of Common Shares Outstanding | OP Units Beneficially Owned | Pledged/Hedged |
|---|---|---|---|---|
| Greg Flamion | 1,904 | 0.0% | 0 | No pledging; company states no executive or director pledges |
- Stock ownership guidelines, hedging policies, and compliance status are not disclosed for Flamion .
Employment Terms
- None of STRW’s officers (including the CFO) are party to employment agreements; severance, change-of-control triggers/multiples, non-compete/non-solicit, garden leave, and consulting arrangements are not disclosed .
- No clawback provisions or tax gross-up terms are disclosed for Flamion in the proxy .
Company Performance (context for pay-for-performance)
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Revenues (USD) | $99,805,000 | $117,058,000 |
| EBITDA (USD) | $79,125,000* | $94,991,000* |
| Net Income (USD) | $2,496,000 | $4,095,000 |
| Metric | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 |
|---|---|---|---|---|
| Revenues (USD) | $30,488,000 | $37,333,000 | $37,861,000 | $39,711,000 |
| EBITDA (USD) | $24,712,000* | $31,476,000* | $31,940,000* | $34,281,000* |
| Net Income (USD) | $1,467,000* | $1,584,000 | $1,956,000 | $2,017,000 |
- 2024 stock performance: began at $7.79, ended at $10.54, with an intra-year high of $12.90, alongside expansions in asset base and share float/liquidity .
- Values marked with * are from S&P Global.
Related Party Transactions and Governance Context
- STRW has significant related-party tenant exposure: 67 of 124 tenants (2024) were related parties; extensive master leases in IN/TN with entities affiliated to directors, with detailed rent schedules and terms .
- No guarantees from related parties for Company debt; balances and payments with related parties disclosed (e.g., rental income received from related parties of $71.39M in 2024) .
Investment Implications
- Compensation alignment: As of 2024, Flamion’s pay is entirely fixed cash ($250k) with no disclosed performance-based or equity incentives, limiting direct alignment with TSR and AFFO growth; future committee-designed programs could introduce equity/metric-linked incentives .
- Selling pressure and vesting: No equity grants or options disclosed for Flamion; beneficial ownership is minimal (1,904 shares) and no pledging, implying low near-term insider selling pressure but also limited “skin in the game” .
- Retention and change-of-control: Absence of an employment agreement or defined severance/change-of-control terms suggests limited contractual retention devices; potential risk if market competition for CFO talent increases .
- Performance backdrop: Company delivered revenue and net income growth FY2023→FY2024 and improved quarterly run-rate into 2025; stock appreciated materially in 2024, but incentive linkage to these outcomes is not yet established for the CFO .
- Governance/risk: High related-party tenant concentration elevates governance scrutiny; as CFO, Flamion’s role in disclosure controls is evidenced by SOX certifications, but compensation structures should evolve to incorporate objective performance metrics (e.g., AFFO per share growth, leverage, NOI) to strengthen pay-for-performance .