Omar Maasarani
About Omar M. Maasarani
Independent director at Velocity Financial, Inc. (VEL) since 2023. Portfolio Manager at PIMCO focused on originating, executing, and managing private equity and structured equity investments within the firm’s alternatives complex; previously spent nearly a decade at Morgan Stanley (private equity investing team; investment banking advisory) and earlier in asset management at Goldman Sachs. Holds a bachelor’s degree from Rutgers University; 18 years of investment and financial services experience .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| PIMCO | Portfolio Manager, Alternatives investing complex (private/structured equity) | 2018–present | Originating, executing, and managing equity investments |
| Morgan Stanley | Vice President, private equity investing team; prior investment banking advisory group | Nearly a decade prior to 2018 | Executed and managed over a dozen investments across technology, business services, consumer sectors |
| Goldman Sachs | Asset Management | Early career | Investment/asset management experience |
External Roles
| Organization | Board/Role | Dates | Notes |
|---|---|---|---|
| PIMCO | Officer (Portfolio Manager) | 2018–present | PIMCO holds ~33.1% of VEL; has board nomination rights (Maasarani nominated by PIMCO) |
Board Governance
- Committee assignments: Not currently assigned to Audit, Compensation, or Governance Committees (no committee memberships listed for Maasarani) .
- Independence: Board affirmed non-employee directors are independent; explicitly considered that Chiao and Maasarani are PIMCO officers and determined these relationships are not “material” for independence under NYSE rules and Rule 10A‑3 .
- Attendance: Board held 7 meetings in 2024; all directors attended at least 75% of Board and committee meetings on which they served .
- Board structure context: Board Chair Alan H. Mantel; Lead Independent Director Joy L. Schaefer .
| Governance Item | Detail |
|---|---|
| Years of service on VEL board | Since 2023 |
| Committee roles | None |
| Independence determination | Independent despite PIMCO affiliation |
| 2024 attendance threshold | ≥75% of meetings |
Fixed Compensation (Director)
| Name | Annual Cash Retainer ($) | Committee Member Fees ($) | Committee Chair Fees ($) | Equity Grant ($) | Total 2024 Director Comp ($) |
|---|---|---|---|---|---|
| Omar M. Maasarani | — | — | — | — | — |
- Program terms (for eligible non-employee directors): $75,000 cash retainer; $10,000 per committee membership; $10,000 per committee chair; $95,000 restricted stock grant upon re-election .
- Note: PIMCO- and Snow Phipps-nominated directors (Chiao, Mantel, Maasarani, Pless) and CEO Farrar do not receive director compensation from VEL .
Performance Compensation (Director)
| Name | Equity Type | Grant Date | Shares/Units | Grant-Date Fair Value ($) | Vesting |
|---|---|---|---|---|---|
| Omar M. Maasarani | — | — | — | — | Not eligible; PIMCO-nominated directors receive no director equity compensation |
Other Directorships & Interlocks
| Entity | Relationship to VEL | Detail | Potential Governance Impact |
|---|---|---|---|
| PIMCO | Significant shareholder; nominating rights | PIMCO beneficially owns 12,637,764 VEL shares and warrants (33.1%); nominated Maasarani to VEL Board | Influence via nomination rights; Board deemed affiliation not material for independence |
| Snow Phipps/TruArc | Significant shareholder; separate nominees | Not directly related to Maasarani; context for board composition | Concentrated ownership landscape |
Expertise & Qualifications
- Private/structured equity investing; alternatives; transaction execution and portfolio management (PIMCO) .
- Prior private equity investing and investment banking advisory (Morgan Stanley) .
- Asset management experience (Goldman Sachs) .
- Bachelor’s degree from Rutgers University .
Equity Ownership
| Holder | Beneficial Ownership (Shares) | Percent of Class | Notes |
|---|---|---|---|
| Omar M. Maasarani | — | * | Disclaims beneficial ownership of PIMCO-affiliated shares; personally holds no VEL shares |
| Stock ownership guidelines | Exempt | — | Directors Chiao and Maasarani (PIMCO officers) are prohibited by internal policies from personally holding VEL shares; therefore not subject to VEL director stock ownership requirement |
| Hedging/pledging | Prohibited | — | VEL policy prohibits pledging, hedging, short selling, and margin purchases for directors and officers |
Governance Assessment
- Board effectiveness: Maasarani brings deep alternatives and private/structured equity expertise; however, he holds no committee roles, which limits direct involvement in audit/compensation/governance oversight .
- Independence and alignment: Board explicitly reviewed his PIMCO affiliation and affirmed independence; nonetheless, PIMCO’s 33.1% stake and nomination rights create a structural interlock that investors should monitor for potential influence on board decisions .
- Ownership and incentives: As a PIMCO-nominated director, he receives no cash or equity compensation from VEL and is exempt from stock ownership guidelines due to PIMCO policies; alignment is via PIMCO’s significant ownership rather than personal share ownership (neutral-to-mixed signal for individual “skin-in-the-game”) .
- Attendance/engagement: All directors met at least the 75% attendance threshold in 2024; Board and committees held 7 (Board), 5 (Audit), 2 (Compensation), and 1 (Governance) meetings, supporting structured oversight cadence .
- Related-party risk: No related-party transactions involving Maasarani disclosed for 2024; Audit Committee oversees related person transaction policy .
RED FLAGS/Watch items:
- Concentrated shareholder influence via PIMCO and Snow Phipps nomination rights; Maasarani is a PIMCO officer and nominee (monitor for potential conflicts in strategic decisions) .
- No personal VEL share ownership and no director compensation, reducing direct personal financial alignment; reliance on institutional alignment through PIMCO ownership .