Day: April 11, 2017

Cicero Capital Partners raises an additional $5.75 million for alternative asset fund

AAEAAQAAAAAAAANPAAAAJDc2ZjM0M2Y2LWE5MjAtNDc3OS1hNzJjLWYyMDMxZTcyOWYwMgELLICOTT CITY, MD – Cicero Capital Partners, the Maryland-based investment adviser, raised an additional $5.75 million for an alternative asset fund, according to a filing with the Securities and Exchange Commission.

The Form D was an amendment to a March 2015 filing in which Cicero raised $2.57 million. The additional $5.75 million was raised by three investors, bringing the total offering amount to $8.325 million.

According to the filing, the funds will be used as part of a pooled investment hedge fund, issued under CCP Alternative Asset Fund LP . Cicero intends for the offering to last more than a year, with a minimum investment amount of $250,000.

The form was signed by Robert Neighoff, the managing partner at Cicero Capital Partners.

Cicero specializes in alternative asset management strategies, with expertise in commercial real estate assets, mortgage backed securities, agency mortgages and other public and private real estate related securities and investments.

Private companies such as Cicero Capital Partners, which rely on a Reg D exemption, are not required to register securities offerings with the SEC, but instead they must file a Form D electronically with the SEC after they sell the securities.

This story is from the Maryland Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism

Howard Bancorp CEO compensation declines 60 percent

ELLICOTT CITY, MD — The chief executive officer of Howard Bancorp received a 60 percent decrease in total compensation in 2016, according to the company’s proxy statement filed Tuesday with the Securities and Exchange Commission.
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Mary Ann Scully, CEO, president, and chairman of the board, made $363,000 in 2016 after making $581,000 in 2015, a 60 percent decrease.

She currently owns 1.30 percent of the common stock. She also was nominated to serve as a director on the board continuing through the annual meeting in 2020.

Howard Bancorp has 15 branches stretching from Ellicott City to Annapolis.

Scully, 65, has served as director, board chairperson, president, and CEO of Howard Bank since its founding in 2003. Scully previously worked at Allfirst Bank from 1973 to 2003.

Total compensation is based off of base salary, short term incentives, long term incentives, and supplemental executive retirement program.

Scully received the same base salary of $350,000 in 2016 and 2015 but in 2016 did not receive any bonus or stock awards. In 2015, she received $70,000 in bonus and $140,000 in stock awards.

Chief Financial Officer George Coffman received the same base salary of $275,000 in 2015 and 2016 but did not receive a bonus or stock awards in 2016 after receiving a bonus of $55,000 or stock awards of $112,000 in 2015.

This story is from the Maryland Business News Wire, a service of the UNC-Chapel Hill School of Media and Journalism

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