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Abacus Global Management, Inc. (NASDAQ:ABL) has disclosed in a recent SEC filing on May 8, 2025, significant changes to the compensation of its top executives. The company’s Compensation Committee approved immediate salary increases for several key officers, including the Chief Executive Officer, Jay Jackson, whose annual salary is now set at $500,000. The Chief Financial Officer, William McCauley, will receive $450,000, and the salaries for Presidents Sean McNealy, Scott Kirby (NYSE:KEX), and Matthew Ganovsky have been adjusted to $350,000 each. The compensation adjustments come as InvestingPro data shows the company achieved 73% revenue growth in the last twelve months, despite not yet achieving profitability.
In addition to the salary adjustments, the Committee, after consulting market data from comparable companies, has implemented a new compensation structure that includes both performance-based and time-based restricted stock units (RSUs) and annual cash bonuses for 2025. The performance-based RSUs are contingent on the company achieving specific financial targets for the year, with a "Stretch Target (NYSE:TGT)" of $140 million in Adjusted Net Income, and a "Target" of $70 million. These targets represent a significant turnaround from the current position, as InvestingPro analysis shows a net loss of $18 million in the last twelve months. However, analysts tracked by InvestingPro expect the company to achieve profitability this year, with forecasted earnings per share of $0.76. Depending on the company’s performance, a portion of the RSUs may be forfeited, with the remainder subject to time-based vesting over three years.
The Chief Executive Officer is also eligible for a one-time equity bonus of 2 million shares if certain market capitalization targets are met within the year. Furthermore, the annual cash bonuses for executives are tied to the same performance criteria as the RSUs, with the potential for interpolation if performance falls between the established targets.
These compensation changes reflect Abacus Global Management’s efforts to align executive incentives with company performance and market standards. The SEC filing, which provides the source of this information, indicates the company’s commitment to maintaining competitive compensation practices within its industry.
In other recent news, Abacus Global Management reported a remarkable increase in revenue for the first quarter of 2025, reaching $44.1 million, more than doubling from the previous year’s $21.5 million. The company’s adjusted net income also saw a substantial rise of 158%, amounting to $17.3 million. Abacus Global Management’s strategic initiatives, including the launch of four new business verticals and a rebranding effort, contributed to this strong performance. Furthermore, the company provided positive guidance for the full year 2025, projecting adjusted net income between $70 million and $78 million, suggesting significant growth over 2024. The company is also exploring potential mergers and acquisitions to enhance its market position.
In addition to these financial achievements, Abacus Global Management saw new asset under management inflows of $151 million, driven by its expanded private fund offerings and ETFs. The firm raised approximately $123 million in new capital inflows within the first month of launching its longevity funds. Analysts from firms such as Piper Sandler and TD Securities have shown interest in the company’s strategic moves and growth potential. Abacus Global Management’s efforts to expand its wealth management services and consider mergers and acquisitions indicate a focus on strengthening its market presence. These developments underscore the company’s robust financial health and strategic agility in a volatile market environment.
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