ECN Capital Management

Management criteria checks 2/4

ECN Capital's CEO is Steve Hudson, appointed in Oct 2016, has a tenure of 8.08 years. total yearly compensation is $4.50M, comprised of 11.1% salary and 88.9% bonuses, including company stock and options. directly owns 5.62% of the company’s shares, worth €29.95M. The average tenure of the management team and the board of directors is 0.8 years and 7.8 years respectively.

Key information

Steve Hudson

Chief executive officer

US$4.5m

Total compensation

CEO salary percentage	11.1%
CEO tenure	8.1yrs
CEO ownership	5.6%
Management average tenure	less than a year
Board average tenure	7.8yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Steve Hudson's remuneration changed compared to ECN Capital's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	-US$52m
Jun 30 2024	n/a	n/a	-US$65m
Mar 31 2024	n/a	n/a	-US$101m
Dec 31 2023	US$5m	US$500k	-US$113m
Sep 30 2023	n/a	n/a	-US$64m
Jun 30 2023	n/a	n/a	-US$52m
Mar 31 2023	n/a	n/a	-US$18m
Dec 31 2022	US$7m	US$938k	US$2m
Sep 30 2022	n/a	n/a	-US$13m
Jun 30 2022	n/a	n/a	-US$17m
Mar 31 2022	n/a	n/a	-US$28m
Dec 31 2021	US$7m	US$1m	-US$31m
Sep 30 2021	n/a	n/a	-US$31m
Jun 30 2021	n/a	n/a	-US$35m
Mar 31 2021	n/a	n/a	-US$41m
Dec 31 2020	US$5m	US$1m	-US$31m
Sep 30 2020	n/a	n/a	-US$10k
Jun 30 2020	n/a	n/a	US$8m
Mar 31 2020	n/a	n/a	US$29m
Dec 31 2019	US$6m	US$1m	US$764k
Sep 30 2019	n/a	n/a	-US$14m
Jun 30 2019	n/a	n/a	-US$19m
Mar 31 2019	n/a	n/a	-US$31m
Dec 31 2018	US$4m	US$963k	-US$12m
Sep 30 2018	n/a	n/a	US$9m
Jun 30 2018	n/a	n/a	-US$37m
Mar 31 2018	n/a	n/a	-US$25m
Dec 31 2017	n/a	n/a	-US$15m

Compensation vs Market: Steve's total compensation ($USD4.50M) is above average for companies of similar size in the German market ($USD995.28K).

Compensation vs Earnings: Steve's compensation has been consistent with company performance over the past year.

CEO

Steve Hudson (65 yo)

8.1yrs

Tenure

US$4,500,000

Compensation

Mr. Steven K. Hudson, also known as Steve, FCA, B.B.A., FCPA, is the Founder and Principal of Cameron Capital Corporation. Mr. Hudson has been the Chief Executive Officer and Executive Director of ECN Capi...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Steven Hudson	CEO & Executive Director	8.1yrs	US$4.50m	5.62% € 30.0m
Algis Vaitonis	Chief Credit Officer	5.7yrs	US$1.05m	0.13% € 687.5k
Matthew Heidelberg	Chief Operating Officer of Triad Financial Services	2.9yrs	US$1.08m	0.086% € 455.9k
Lance Hull	President of Triad Financial Services	1.3yrs	US$3.28m	no data
Jacqueline Weber	Chief Financial Officer	less than a year	no data	no data
Katherine Moradiellos	Vice President of Finance and Investor Relations	no data	no data	0.0040% € 21.3k
James Barry	Chief Financial Officer of TRIAD Financial Services	less than a year	no data	no data
Joseph O'Brien	Chief Operating Officer of Source One Financial	less than a year	no data	no data
Donnie Cole	President of EPIC Finance LLC	less than a year	no data	no data
John Menard	Chief Risk Officer	less than a year	no data	no data
Christopher Johnson	Senior VP & Head of Capital Markets	less than a year	no data	no data
Michael McCulley	General Counsel of TRIAD Financial Services	no data	no data	no data

0.8yrs

Average Tenure

Experienced Management: 2EZ's management team is not considered experienced ( 0.8 years average tenure), which suggests a new team.

Board Members

Name	Position	Tenure	Compensation	Ownership
Steven Hudson	CEO & Executive Director	8.1yrs	US$4.50m	5.62% € 30.0m
Paul Stoyan	Independent Director	8.1yrs	US$168.00k	0.30% € 1.6m
Carol Goldman	Independent Director	7.6yrs	US$156.00k	0.035% € 185.4k
William Lovatt	Independent Chairman of the Board	8.1yrs	US$498.00k	0.36% € 1.9m
Karen Martin	Independent Director	5.3yrs	US$156.00k	0.049% € 259.2k
Tawn Kelley	Independent Director	1.2yrs	US$78.00k	no data
David Morris	Independent Director	8.1yrs	US$182.00k	0.021% € 113.8k
Larry Chiavaro	Executive Chairman of Paramount Servicing Group	no data	no data	no data

7.8yrs

Average Tenure

65yo

Average Age

Experienced Board: 2EZ's board of directors are considered experienced (7.8 years average tenure).

ECN Capital Management

Management criteria checks 2/4

Key information

Recent management updates

CEO & Executive Director recently sold €197k worth of stock

Independent Director recently bought €97k worth of stock

Insufficient new directors

ECN Capital Corp., Annual General Meeting, May 23, 2024

CEO & Executive Director recently bought €365k worth of stock

CEO & Executive Director recently bought €352k worth of stock

Recent updates

CEO & Executive Director recently sold €197k worth of stock

Third quarter 2024 earnings released: EPS: US$0.02 (vs US$0.024 loss in 3Q 2023)

ECN Capital Corp. to Report Q3, 2024 Results on Nov 07, 2024

Upcoming dividend of CA$0.01 per share

New minor risk - Insider selling

Second quarter dividend of CA$0.01 announced

ECN Capital Corp. announces Quarterly dividend, payable on October 01, 2024

Second quarter 2024 earnings released: EPS: US$0.02 (vs US$0.12 loss in 2Q 2023)

ECN Capital Corp. (TSX:ECN) agreed to acquire 54% stake in Paramount Capital Group, Inc. for $5.4 million.

ECN Capital Corp. to Report Q2, 2024 Results on Aug 07, 2024

Independent Director recently bought €97k worth of stock

Upcoming dividend of CA$0.01 per share

First quarter dividend of CA$0.01 announced

First quarter 2024 earnings released: US$0.03 loss per share (vs US$0.085 loss in 1Q 2023)

Insufficient new directors

ECN Capital Corp. to Report Q1, 2024 Results on May 09, 2024

Fourth quarter dividend of CA$0.01 announced

ECN Capital Corp., Annual General Meeting, May 23, 2024

CEO & Executive Director recently bought €365k worth of stock

Full year 2023 earnings released: US$0.44 loss per share (vs US$0.007 profit in FY 2022)

BharCap Partners, LLC acquired Red OAK Inventory Finance, LLC from ECN Capital Corp. (TSX:ECN).

New major risk - Dividend sustainability

ECN Capital Corp. to Report Q4, 2023 Results on Mar 21, 2024

Upcoming dividend of CA$0.01 per share at 1.5% yield

New major risk - Share price stability

CEO & Executive Director recently bought €352k worth of stock

Now 24% undervalued after recent price drop

ECN Capital Corp. Declares Quarterly Dividend, Payable on January 2, 2024

New major risk - Financial position

Third quarter 2023 earnings released: US$0.02 loss per share (vs US$0.026 profit in 3Q 2022)

ECN Capital Corp. to Report Q3, 2023 Results on Nov 13, 2023

New minor risk - Shareholder dilution

ECN Capital Corp. Appoints Tawn Kelley to the Board of Directors and Credit and Risk Committee

CEO & Executive Director recently bought €410k worth of stock

Upcoming dividend of CA$0.01 per share at 1.7% yield

CEO & Executive Director recently bought €350k worth of stock

ECN Capital Corp. announced that it expects to receive CAD 185.44 million in funding from Skyline Champion Corporation

ECN Capital Corp. to Report Q2, 2023 Results on Aug 14, 2023

Upcoming dividend of CA$0.01 per share at 1.3% yield

ECN Capital Corp. Declares Quarterly Dividend, Payable on June 30, 2023

First quarter 2023 earnings released: US$0.09 loss per share (vs US$0.018 profit in 1Q 2022)

ECN Capital Corp. to Report Q1, 2023 Results on May 15, 2023

Full year 2022 earnings released: EPS: US$0.017 (vs US$0.04 loss in FY 2021)

Upcoming dividend of CA$0.01 per share

Independent Director recently bought €59k worth of stock

Insufficient new directors

Third quarter 2022 earnings released: EPS: US$0.026 (vs US$0.009 in 3Q 2021)

ECN Capital Corp. Declares Quarterly Dividend, Payable on December 30, 2022

Now 22% undervalued after recent price drop

ECN Capital Corp. to Report Q3, 2022 Results on Nov 09, 2022

Stone Point Capital LLC completed the acquisition of Kessler Financial Services, L.P. from ECN Capital Corp. (TSX:ECN).

CEO & Executive Director recently bought €362k worth of stock

Upcoming dividend of CA$0.01 per share

CEO & Executive Director recently bought €612k worth of stock

Funds managed by Stone Point Capital LLC entered into a definitive agreement to acquire Kessler Financial Services, L.P. from ECN Capital Corp. (TSX:ECN) for $210 million.

Now 22% undervalued

Second quarter 2022 earnings released: EPS: US$0.033 (vs US$0.009 in 2Q 2021)

ECN Capital Corp. (TSX:ECN) acquired Intercoastal Financial Group, LLC for CAD 75 million.

ECN Capital Corp. to Report Q2, 2022 Results on Aug 11, 2022

CEO & Executive Director recently bought €412k worth of stock

ECN Capital Board Declares Quarterly Dividend Payable on June 30, 2022

First quarter 2022 earnings released: EPS: US$0.02 (vs US$0.024 in 1Q 2021)

ECN Capital Corp. to Report Q1, 2022 Results on May 12, 2022

Insufficient new directors

Chief Credit Officer recently bought €188k worth of stock

Full year 2021 earnings: EPS in line with expectations, revenues disappoint

ECN Capital Corp. Declares Quarterly Dividend, Payable on March 31, 2022

ECN Capital Corp. to Report Q4, 2021 Results on Mar 01, 2022

ECN Capital Corp., Annual General Meeting, Apr 07, 2022