Daniel Sollof
About Daniel Sollof
Daniel Sollof, 41, is an independent director of AirSculpt Technologies, serving on the board since June 2021. He is a General Partner at Vesey Street Capital Partners (VSCP) with prior experience as a healthcare equity research analyst at Barclays/Lehman and as a valuation analyst at EY; he holds a B.S. in Management Science from UC San Diego and is a CFA charterholder . In 2024, the board determined he is independent under Nasdaq rules, notwithstanding his affiliation with AirSculpt’s sponsor VSCP, which owns 50.06% of the company’s common stock .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Barclays Capital/Lehman Brothers | Vice President & Research Analyst (Healthcare Facilities; Medical Supplies & Devices) | Aug 2007–Aug 2014 | Sell-side coverage; sector expertise |
| Ernst & Young (Transaction Advisory Services) | Valuation & Business Modeling Analyst | Sep 2005–Jul 2007 | Transaction support; valuation modeling |
| Elite Body Sculpture (pre-IPO) | Board of Managers member | Oct 2018–IPO (2021) | Pre-IPO governance |
| Imedex, Inc. | Director | Jul 2015–Aug 2017 | Board service at healthcare education company |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Vesey Street Capital Partners (VSCP) | General Partner | Aug 2014–Present | Healthcare-focused private equity sponsor for AIRS |
| HealthChannels (ScribeAmerica) | Board Observer | Oct 2016–Present | Portfolio company engagement |
Board Governance
- Committee assignments: Member, Nominating & Corporate Governance Committee (chair: Kenneth Higgins) .
- Independence: Board determined Sollof (and four other directors) are independent under Nasdaq Rule 5605(a); the board considered his affiliate status with VSCP when making this determination .
- Attendance and engagement: In fiscal 2024, the Board met 5x; Nominating & Corporate Governance met 4x; each director attended all Board and committee meetings on which they served; all directors attended the 2024 annual meeting .
- Controlled company framework: AIRS qualifies as a “controlled company,” but states it is not relying on controlled-company exemptions; Audit and Compensation Committees are entirely independent .
Fixed Compensation (Director)
| Fiscal Year | Annual Retainer (Cash) | Committee Fees (Cash) | Equity (Annual RSUs) | Total |
|---|---|---|---|---|
| 2024 | $0 | $0 | $0 | $0 |
| Notes | colspan=4: For policy context, non-employee directors typically receive $75,000 cash retainer, committee retainers (Audit chair $20k; Audit member $10k; Comp chair $15k; Comp/N&CG member $7.5k), and an annual RSU grant (26,087 RSUs for FY2024, vesting at next annual meeting); however, directors nominated by VSCP, including Sollof, receive no director compensation from AIRS . |
Performance Compensation (Director)
| Component | Structure | Amount |
|---|---|---|
| Performance-based cash | Not applicable to directors | $0 |
| Performance equity (PSUs/Options) | Directors receive time-based RSUs; VSCP nominees receive none | $0 |
Other Directorships & Interlocks
- Current public company directorships: None disclosed for Sollof .
- Interlocks/sponsor influence: VSCP and affiliates beneficially own 50.06% of AIRS; the Stockholders Agreement grants VSCP the right to designate board nominees (subject to ownership thresholds) and historically classifies Sollof as a VSCP-nominated director; in July 2024, an amendment clarified the Board may withhold recommendation of a sponsor nominee if fiduciary duties so require .
- Financing interlock: VSCP-affiliated entities entered a $10 million limited guarantee of AIRS’s credit agreement obligations, with potential compensation in AIRS common stock or a subordinated note if called—creating a related-party financing linkage to the sponsor .
Expertise & Qualifications
- Healthcare investing/operator engagement via VSCP; board observer/director roles at healthcare services companies .
- Sell-side healthcare research background (facilities, supplies & devices), conferring industry/financial acumen .
- CFA charterholder; B.S. in Management Science (UC San Diego) .
Equity Ownership
| Holder | Shares Beneficially Owned | % Outstanding | Notes |
|---|---|---|---|
| Daniel Sollof | — | <1% | No personal beneficial ownership reported in table . |
| VSCP-affiliated entities | 29,324,180 | 50.06% | Sponsor ownership; control position . |
| Hedging/pledging | — | — | Company policy prohibits pledging, hedging, and derivative transactions by directors . |
Governance Assessment
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Strengths
- Independent designation under Nasdaq despite sponsor affiliation; serves on Nominating & Governance, aligning role with board refreshment and governance processes .
- Perfect attendance at Board and committee meetings in FY2024; full board attendance at annual meeting .
- Board states it does not rely on controlled-company exemptions; Audit and Compensation Committees fully independent .
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Watchpoints / Potential Conflicts
- Sponsor control and designation rights (amended to allow the Board to withhold endorsement based on fiduciary duties) can influence board composition; Sollof’s VSCP role indicates sponsor representation on the board .
- VSCP limited guarantee tied to AIRS’s credit agreement introduces a related-party financing linkage and potential future equity issuance to the sponsor, warranting monitoring for conflicts and board process rigor .
- Personal ownership alignment appears limited (no reported beneficial ownership or director equity grants because VSCP nominees are not compensated), which may reduce direct “skin in the game” at the individual director level, though sponsor ownership is significant .
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Additional context
- Related-party transactions exist primarily with professional associations owned by the Executive Chairman and his father (medical director fees), overseen by the Audit Committee; none disclosed involving Sollof personally .
- Insider policy restricts hedging/pledging, reducing alignment risks such as pledged share collateralization .