Jason Bengel
LendingTreeAbout Jason Bengel
Jason Bengel, age 48, is Chief Financial Officer and Treasurer of LendingTree (TREE) since August 2024. He is a CFA charterholder with a BS and MEng in Civil Engineering from Penn State and an MBA from Indiana University, and previously held senior FP&A, treasury, and corporate development roles across internet, consumer, and financial sectors . During his tenure as CFO, he has executed Section 302/906 certifications and acted as the company’s principal financial officer on 10-Q and 8-K filings in Q3 2025 . Company performance context: in 2024 Adjusted EBITDA increased 33% YoY; Insurance segment revenue reached $549M and segment profit $159M (up 120% and 54% YoY, respectively); Pay-versus-Performance disclosures show the value of a $100 investment in TREE stock at $12.77 for 2024, GAAP net loss of $42M, and Company-Selected Measure Adjusted EBITDA of $104M .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| LendingTree, LLC | SVP, Financial Planning & Analysis | Jul 2021 – Aug 2024 | Led corporate FP&A through a significant operating reset and subsequent growth initiatives . |
| LendingTree, LLC | VP, Financial Planning & Analysis | Feb 2018 – Jul 2021 | Built planning cadence and supported capital allocation for marketplace businesses . |
| Outbrain | VP, Financial Planning & Analysis | — | Scaled analytics for a web recommendation platform . |
| Revlon | VP, Treasury & Corp Dev; Director, Corp Dev; Manager, FP&A | — | Treasury, M&A, and enterprise planning for a consumer brand portfolio . |
| Goldman Sachs | Associate | — | Investment banking/securities experience . |
| Air Products | Senior Financial Analyst | — | Industrial finance and analytics . |
| — | Structural Engineer | — | Early technical/analytical career foundation . |
External Roles
No public company directorships or external board roles disclosed for Bengel .
Fixed Compensation
| Year | Base Salary Rate ($) | Salary Earned ($) | Target Bonus (%) | Target Bonus ($) | Actual Bonus Paid ($) | All Other Comp ($) |
|---|---|---|---|---|---|---|
| 2024 | 350,000 | 329,615 | 50% | 175,000 | 175,000 (paid for 2024 performance) | 9,888 (401k match) |
Notes:
- Annual bonus program is cash-settled, tied to corporate Adjusted EBITDA; CEO earned 100% of target, consistent with other NEOs, for 2024 performance (paid in 2025) .
Performance Compensation
Annual Cash Incentive – 2024
| Metric | Weighting | Target | Actual/Payout | Payout Vehicle | Timing |
|---|---|---|---|---|---|
| Corporate Adjusted EBITDA | 100% (plan funded solely by AEBITDA) | $175,000 (50% of salary) | 100% of target; actual bonus $175,000 | Cash | Paid in 2025 |
Equity Awards – Grants in 2024
| Grant Date | Award Type | Shares Granted (#) | Grant-Date Fair Value ($) | Vesting |
|---|---|---|---|---|
| 3/1/2024 | RSU | 3,500 | 139,930 | Vests in 3 substantially equal annual installments beginning 3/1/2025 (aggregated with 8/12/2024 grant) . |
| 8/12/2024 | RSU | 12,000 | 519,120 | Vests in 3 substantially equal annual installments beginning 3/1/2025 (combined 15,500 RSUs) . |
Outstanding Equity – RSUs (as of 12/31/2024)
| RSU Tranche | Units Unvested (#) | Vesting Schedule |
|---|---|---|
| 15,500 (2024 aggregate) | 15,500 | Three substantially equal annual installments beginning 3/1/2025 . |
| 2,000 | 2,000 | Three annual installments beginning 3/2/2024; 50% first year, 25% second/third . |
| 1,399 | 1,399 | Four substantially equal annual installments beginning 8/4/2022 . |
| 619 | 619 | Three substantially equal annual installments beginning 3/2/2023 . |
Outstanding Equity – Stock Options (as of 12/31/2024)
| Exercisable (#) | Unexercisable (#) | Exercise Price ($) | Expiration | Vesting Notes |
|---|---|---|---|---|
| 159 | — | 378.95 | 2/16/2028 | — |
| 188 | — | 310.19 | 2/21/2029 | — |
| 428 | — | 275.82 | 2/28/2030 | — |
| 562 | — | 253.42 | 3/3/2031 | — |
| 1,007 | 504 | 113.27 | 3/2/2032 | Vests in 3 substantially equal annual installments beginning 3/2/2023 . |
Realized Equity in 2024
| Name | Shares Vested (#) | Value Realized on Vesting ($) |
|---|---|---|
| Jason Bengel | 4,247 | 180,825 |
Most Important Performance Measures used for NEO pay in 2024: Stock Price, Adjusted EBITDA, Revenue .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial Ownership | 14,836 shares; <1% of class; includes 2,848 options exercisable within 60 days of 4/16/2025 . |
| Shares Outstanding (for context) | 13,535,034 as of 4/16/2025 . |
| Ownership Guidelines | CEO 6x salary; other NEOs 1.5x–3x salary . |
| Hedging/Pledging | Hedging prohibited; pledging prohibited without pre-clearance (no pledging disclosed) . |
| Clawback | Nasdaq Rule 10D-aligned Compensation Recovery Policy (effective 10/25/2023) applies to incentive comp upon covered restatement (3 prior fiscal years) . |
Employment Terms
| Topic | Terms |
|---|---|
| Role/Start | CFO & Treasurer since Aug 2024 . |
| Severance Plan | Participant in Executive Severance Plan; severance upon involuntary termination or within 12 months post-Change-in-Control (subject to release) . |
| Restrictive Covenants | For Bengel: non-compete 12 months post-employment; employee non-solicit 12 months; customer non-solicit 12 months; contractor/supplier/vendor non-solicit 12 months . |
| Perquisites | Limited; 401(k) match ($9,888 in 2024) . |
| Deferred Compensation | No 2024 participation; company plan terminated 4/24/2024, distributions after 4/30/2025 per 409A (general disclosure) . |
Potential Payments (Hypothetical as of 12/31/2024)
| Scenario | Cash Severance ($) | Health Benefits Continuation ($) | Equity Acceleration ($) | Total ($) |
|---|---|---|---|---|
| Change in Control (no termination) | — | — | 756,323 | 756,323 |
| Involuntary Termination (Outside CIC window) | 350,000 | 19,960 | 317,091 | 687,051 |
| Involuntary Termination (Within 12 months of CIC) | 1,225,000 | 24,950 | 756,323 | 2,006,273 |
| Death/Disability | — | — | 756,323 | 756,323 |
Investment Implications
- Pay-for-performance alignment is improving: 2024 cash bonuses paid at 100% of target tied solely to Adjusted EBITDA, with equity mix delivered via multi-year RSUs and measured against stock price/financial outcomes; clawback, hedging, and pledging controls are robust .
- Near-term selling pressure watch: 15,500 RSUs granted in 2024 begin vesting in three equal tranches starting March 1, 2025, alongside continuing vesting from earlier awards—monitor Form 4s around vest dates and any net share sales for tax or liquidity .
- Retention risk appears contained: severance protection and 12-month restrictive covenants support continuity; CIC economics provide stronger protection but require termination within 12 months post-CIC (double-trigger construct implied by timing) .
- Ownership alignment is moderate: Bengel’s disclosed beneficial ownership is <1%; TREE mandates executive ownership guidelines (1.5x–3x salary for NEOs). Absence of pledging and presence of a clawback policy are governance positives; individual compliance status versus guidelines is not disclosed and merits ongoing monitoring .
- Execution track record context: As CFO since Aug 2024, Bengel’s period includes 2024 EBITDA expansion (+33%) and strong Insurance segment growth; his Q3 2025 certifications indicate direct accountability for reporting controls as TREE navigates growth and deleveraging initiatives .