loanDepot has named Darren Graeler as executive vice president and chief accounting officer. He will succeed current CFO David Hayes as the publicly traded lender’s chief accounting officer.
The company will pay Graeler a base salary of $335,000 with an annual target bonus of 100% of base salary, according to a filing registered with the Securities and Exchange Commission (SEC) on Thursday.
Graeler will receive an initial grant of 117,925 restricted stock units, which will vest in three equal installments in the first three years, subject to continued employment.
Under the employment agreement, Graeler will be eligible for annual equity awards, subject to approval by the compensation committee of the board.
Graeler has served as loandepot’s senior vice president of corporate accounting since July 2018. Prior to joining loanDepot, Graeler was a founding partner of Financial Services Advisory Partners LLC, a business advisory and management consulting firm.
loanDepot did not respond to a request for comment.
loanDepot announced Hayes’ appointment as chief financial officer just over a month ago, and he has held the CFA role for a few weeks following the departure of Nicole Carrillo. Hayes replaced longtime CFO Patrick Flanagan, who, along with several other executives, recently left the company.
The loanDepot board of directors in April settled a dispute with founder and largest shareholder Anthony Hsieh. Hsieh was fired by the board as executive chairman in a 5-2 vote but retained his position as chairman.