Solomon J. Kumin
About Solomon J. Kumin
Independent Director at Starwood Property Trust (STWD) since 2014; age 49. Co-President at Leucadia Asset Management (since 2020; previously Chief Strategic Officer), with prior senior roles at Folger Hill Asset Management (CEO, merged into Schonfeld in 2018) and S.A.C. Capital Advisors (COO). He serves on STWD’s Compensation Committee and Investment Committee and sits on the Compensation Committee’s Equity Awards Subcommittee. BA, Political Science, Johns Hopkins University .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Leucadia Asset Management | Co-President (previously Chief Strategic Officer) | 2018–present (Co-President since 2020) | Senior leadership in multi-manager asset management |
| Folger Hill Asset Management | Chief Executive Officer | 2015–2018 (merged with Schonfeld in 2018) | Built multi-PM platform later combined with Schonfeld |
| S.A.C. Capital Advisors | Chief Operating Officer (joined 2005) | 2008–2014 | Firm-wide operating oversight at a large hedge fund |
| Sanford C. Bernstein | Vice President, Institutional Sales | 2001–2005 | Institutional coverage in public markets |
| Lazard Asset Management | Marketing Associate | 1999 | Early career in asset management |
External Roles
| Organization | Role | Tenure | Committees/Notes |
|---|---|---|---|
| Johns Hopkins University | Trustee | N/A | Board service |
| Fessenden School | Trustee (Chairman) | N/A | Board chair |
| Thoroughbred Owners and Breeders Association | Trustee | N/A | Board service |
| Team Impact | Director | N/A | Board service |
| USA Lacrosse Foundation | Chairman | N/A | Board chair |
| Boston Children’s Hospital | Trust Board | N/A | Board service |
| Johns Hopkins Lacrosse Advisory Board | Member | N/A | Advisory role |
| Tewaaraton Foundation | Director | N/A | Board service |
No other current public company directorships are disclosed for Mr. Kumin in STWD’s 2025 Proxy Statement .
Board Governance
- Independence: Determined independent by the Board (NYSE standards). The Board considered Mr. Kumin’s <0.5% investment in Mustang Sponsor LLC (sponsor to Jaws Mustang Acquisition Corporation, chaired by STWD’s CEO Sternlicht) and still deemed him independent .
- Committee assignments: Compensation Committee member; Investment Committee member; Equity Awards Subcommittee member (with Bronson and Zelnick) for approving grants to directors, officers, and the Manager .
- Attendance: Board met 4 times in 2024; each director attended at least 75% of Board and applicable committee meetings. Audit Committee met 4 times; Nominating & Corporate Governance met 2 times; Compensation met 3 times .
- Executive sessions: Regular executive sessions of non-executive and independent directors; presided by the Lead Independent Director .
- Policies: Anti-hedging and insider trading policies in place; ownership guidelines require directors to hold ≥3× annual cash retainer in stock over time .
Fixed Compensation
| Component (2024) | Amount | Notes |
|---|---|---|
| Annual cash retainer | $110,000 | Standard non-executive director retainer |
| Committee fees | $10,000 | Compensation Committee member fee = $7,500; Investment Committee member fee = $2,500 |
| Total cash fees | $120,000 | Matches reported “Fees Earned” for Kumin |
| Equity retainer (grant-date value) | $140,011 | 6,870 restricted shares granted 9/30/2024; one-year vest; grant valued at $20.38 close |
| Total 2024 director compensation | $260,011 | Sum of cash + stock award |
| 2025 equity retainer change | $150,000 | Increased annual equity retainer for non-employee directors |
Performance Compensation
- Structure: Non-employee director equity awards are time-based restricted shares vesting on the one-year anniversary of grant; no performance metrics apply to director equity .
- Clawback: Company adopted a Dodd-Frank-compliant Clawback Policy on Nov 1, 2023 (administration by Compensation Committee), applicable to executive incentive pay; no director-specific clawback disclosure beyond this .
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Other public company boards | None disclosed for Mr. Kumin |
| Compensation Committee interlocks | None required to be disclosed for 2024; Kumin served on Compensation Committee without interlocks |
| Potential interlocks | Minor sponsor stake (<0.5%) in Jaws Mustang sponsor (Mustang Sponsor LLC) alongside Sternlicht’s SPAC leadership; Board reviewed and maintained independence status |
Expertise & Qualifications
- Asset management leadership across multi-manager and fundamental hedge fund platforms (Leucadia AM, S.A.C., Folger Hill); capital markets and institutional sales background (Sanford C. Bernstein; Lazard AM). Brings insights on operations, capital markets, and portfolio allocation useful to STWD’s investment oversight via the Investment Committee .
Equity Ownership
| Metric | Amount |
|---|---|
| Beneficial ownership (common shares) | 64,393 (includes 6,870 unvested restricted shares) |
| Ownership as % of shares outstanding | <1% (asterisk in proxy) |
| Unvested director RS (12/31/2024) | 6,870 restricted shares outstanding from the 2024 grant |
| Ownership guidelines | ≥3× annual Board cash retainer; restricted stock counts toward compliance (individual compliance status not disclosed) |
Governance Assessment
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Strengths
- Independent director with deep asset management operating experience; active on critical committees (Compensation and Investment) and a member of the Equity Awards Subcommittee, indicating engagement in oversight of incentive alignment across directors, officers, and the Manager .
- Good meeting engagement baseline: all directors met ≥75% attendance; structured independent oversight via regular executive sessions and a Lead Independent Director .
- Clear, simple director pay structure: cash retainer plus time-vested stock; transparent fee schedule; equity ownership guideline promotes alignment .
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Watch items / RED FLAGS to monitor
- SPAC sponsor tie: Mr. Kumin holds <0.5% in the sponsor of Jaws Mustang Acquisition Corp., founded/chaired by STWD’s CEO. The Board reviewed and maintained independence, but investors should monitor for any transactions or overlapping decision-making that could influence objectivity. RED FLAG: Potential perceived interlock despite independence determination .
- External management model: Compensation Committee (where Kumin serves) reviews equity awards to the external Manager and executives; this enhances importance of rigorous conflict controls around Manager fees and awards. Continued scrutiny of incentives to avoid risk-seeking behaviors is appropriate given the incentive fee framework described elsewhere in the proxy .
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Additional context
- Policies discourage hedging/derivative exposure and set insider trading controls; late Section 16(a) filing noted for CEO (not for Kumin), indicating overall compliance emphasis remains high .