Robert Schwartz
About Robert W. Schwartz
Robert W. Schwartz (age 80) is the Chairman & Founder of Schwartz Heslin Group, Inc. (founded 1985), specializing in corporate finance and M&A; prior roles include founder/CEO of Winsource (telecom), President & COO of Coradian Corporation (AMEX-listed, took public in 1979), and CFO of Garden Way Manufacturing; earlier experience at KPMG and IBM . He is a Class I independent director of Advent Technologies Holdings, Inc. (ADN) with a term expiring at the 2027 annual meeting . Education: B.S. in Labor & Industrial Relations from Cornell University and graduate work at the University at Albany .
Past Roles
| Organization | Role | Tenure (if disclosed) | Committees/Impact |
|---|---|---|---|
| Schwartz Heslin Group, Inc. (SHG) | Chairman & Founder | Since 1985 | Advised 750+ businesses on finance and management |
| Winsource, Inc. | Founder, President & CEO | — | Venture-funded high-tech telecom; founder-CEO |
| Coradian Corporation (AMEX-listed) | President & COO | — | Took company public in 1979 |
| Garden Way Manufacturing | Chief Financial Officer | — | Major outdoor power equipment manufacturer |
| KPMG | Management Consultant | — | Early career experience |
| IBM | Various | — | Early career experience |
External Roles
| Organization | Role | Committees/Notes |
|---|---|---|
| Dais Analytic Corporation | Director | Current board role |
| Golub Corporation | Director | Current board role |
| Northeast Grocers, Inc. | Director; Audit Committee Chair | Formed via merger of Golub Corporation and Tops; Chairs Audit Committee |
| The University at Albany Foundation (Council on Economic Outreach) | Chair (past) | Non-profit leadership |
| New York State Industries for the Disabled | Chair (past) | Non-profit leadership |
Board Governance
- Board structure and tenure: ADN’s board has six members, classified into three classes; Schwartz is the sole Class I continuing director with term expiring at the 2027 annual meeting .
- Independence: The board determined four directors are independent, including Robert Schwartz .
- Committee assignments at ADN: Audit Committee (Lukash—Chair, Celia, Seelenfreund), Compensation Committee (Celia—Chair, Lukash), Nominating & Corporate Governance Committee (Lukash—Chair, Celia). Schwartz is not listed on any standing committee .
- Leadership: No Chairman or Lead Independent Director designated .
- Attendance and engagement: In 2024 the board held 16 meetings; Audit 2; Compensation 0; Nominating 0. No director attended fewer than 75% of applicable meetings; independent directors meet in executive session .
- Shareholder voting context: 2025 Say-on-Pay passed (For: 829,029; Against: 139,741; Abstain: 133,479) and shareholders preferred triennial say‑on‑pay frequency (Every Three Years: 559,297 vs Every Year: 373,872) .
Fixed Compensation (Director)
| Component | ADN Policy | 2024 Actual for R.W. Schwartz | Notes |
|---|---|---|---|
| Annual Cash Retainer | $100,000 per non‑employee director, paid quarterly | $0 (joined on/after Aug 30, 2024; “not currently entitled to receive any compensation”) | Program exists, but new directors as of/after Aug 30, 2024 not entitled currently |
| Committee Member/Chair Fees | Not disclosed | Not applicable | No fee schedule disclosed in proxy |
| Annual Equity Grant | Stock awards equal to $100,000 divided by grant‑date closing price | $0 in 2024 (new directors not currently entitled) | Prior grant on July 26, 2024 of 5,747 RSUs applied to then‑serving directors (pre‑Aug 30 cohort) |
| Director Pay Cap | Aggregate annual cap of $500,000 (grant‑date fair value, assuming max payout) | — | Applies to non‑employee directors |
Performance Compensation (Director)
| Element | Structure | Metrics/Triggers | 2024 Awards to R.W. Schwartz |
|---|---|---|---|
| Annual Director Equity | Time-vested RSUs (policy target $100,000) | No performance metrics disclosed for directors (time-based vesting) | None; new directors as of/after Aug 30, 2024 not currently entitled |
| Clawback & Policies | Equity awards subject to clawback and forfeiture under plan/admin authority | Clawback triggers per plan, legal, and listing standards | Policy in effect (no award granted in 2024) |
No director performance metrics (e.g., TSR/EBITDA goals) are disclosed for non‑employee director equity; awards are time‑based .
Other Directorships & Interlocks
| Company/Entity | Status in Filing | Potential Interlock/Conflict with ADN |
|---|---|---|
| Dais Analytic Corporation | Current director | No related-party transaction disclosed with ADN |
| Golub Corporation | Current director | No related-party transaction disclosed with ADN |
| Northeast Grocers, Inc. | Director; Audit Chair | No related-party transaction disclosed with ADN |
Expertise & Qualifications
- Corporate finance and M&A expertise; founder of corporate finance advisory SHG .
- Public company operating experience (took Coradian public; prior C‑suite roles) .
- Audit oversight experience (Audit Committee Chair at Northeast Grocers) .
- Academic engagement and teaching (20 years teaching entrepreneurship at University at Albany) .
Equity Ownership
| Item | Disclosure |
|---|---|
| Beneficial Ownership (individual) | The 2025 beneficial ownership table did not provide a specific share count for Robert Schwartz; he is not listed among 5% holders and no individual line item with shares was enumerated for him . |
| Group Ownership | Directors and executive officers as a group (7 individuals): 132,747 shares (4.03%) as of Sept 19, 2025 . |
| Ownership Guidelines | Non‑employee directors must hold equity equal to 3.0× annual cash retainer; 5‑year compliance window . |
| Hedging/Pledging | Prohibited for officers and directors (no pledging/margin; no hedging/monetization) . |
Governance Assessment
- Positives: Independent director; no related‑party transactions disclosed; strong finance/M&A and audit oversight background; board reported full attendance compliance in 2024; robust stock ownership guidelines and explicit hedging/pledging prohibitions .
- Areas to monitor: New non‑employee directors (including Schwartz) “not currently entitled” to director compensation as of joining on/after Aug 30, 2024—unusual and may affect alignment unless the board updates the program prospectively . Minor administrative red flag: the company disclosed one late Section 16 filing (Form 3) for Schwartz (and several others) in 2024 .
- Committees: Not serving on Audit/Compensation/NCG at ADN, which may limit direct influence on key board levers; however, external audit chair experience may be a resource to the board .
- Shareholder sentiment signal: 2025 Say‑on‑Pay passed; shareholders preferred triennial say‑on‑pay frequency, suggesting a tilt toward longer‑term evaluation of pay practices .
Related‑party/conflict check: Company reports no transactions >$120,000 since Jan 1, 2024 involving directors or their affiliates; balances with related parties only list De Castro (accrued amounts), not Schwartz .