David Danziger
About David Danziger
David Danziger (age 68) was appointed to the ALT5 Sigma (ALTS) Board on July 2, 2025; he serves as Chair of the Audit Committee and is a member of the Compensation and Nominating & Corporate Governance Committees . He is a Chartered Professional Accountant and former Senior Vice President, Assurance and National Leader of Public Companies at MNP LLP (Canada’s 5th largest accounting firm), retiring on May 31, 2025 and continuing as Senior Adviser; he has four decades of audit, compliance, and corporate governance experience and sits on the TSXV Advisory Committee . There are no arrangements/understandings pursuant to which he was selected and no family relationships with other ALTS directors or officers; no Item 404(a) related-party transactions are disclosed for him .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| MNP LLP | SVP, Assurance & National Leader of Public Companies; Senior Adviser (post-retirement) | ~2015–May 31, 2025; Adviser thereafter | Led audit teams across North America; advised public market transactions |
| Osisko Development Corp. (Nasdaq/TSXV) | Director | Since Dec 2022 (current) | Public company board experience |
| Sphere 3D Corp. (Nasdaq) | Director | Dec 2022–May 2024 | Governance oversight during restructuring phase |
| Euro Sun Mining Inc. (TSX) | Director | Sep 2010–Jan 2023 | Long-tenured mining governance |
| Pluribus Technologies Corp. (TSXV) | Director | May 2021–Jan 2022 | Software/tech governance |
| Universal Ibogaine Inc. (TSXV) | Director | Oct 2021–Jun 2022 | Early-stage life sciences governance |
| Eddy Smart Home Solutions Ltd. (TSXV) | Director | Feb 2021–Jan 2022 | IoT/home tech governance |
| Li-Metal Corp. (TSXV) | Director | Mar 2009–Oct 2021 | Materials/EV supply chain governance |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| TSXV Advisory Committee | Member | Current | Market structure/regulatory advisory |
| Alyea Therapeutics Corporation | Advisory Committee member; prospective Director | 2025 (disclosed) | ALTS disclosed Alyea separation and advisory roster |
| MNP LLP | Senior Adviser | Since Jun 2025 | Post-retirement advisory capacity |
Board Governance
- Committees: Audit (Chair); Compensation (Member); Nominating & Corporate Governance (Member) .
- Independence/relationships: No family relationships; no Item 404(a) related-party transactions disclosed for his appointment . Audit/Comp committees historically comprised entirely of non-employee directors, with independence under Nasdaq rules in fiscal 2023 (pre-Danziger), establishing the governance baseline .
- Board attendance and activity baseline: In fiscal 2024, the Board met 6 times (two unanimous written consents); Audit met 4 times; Compensation met once (two consents); Nominating acted by consent; each director (serving in 2024) attended at least 75% of Board/committee meetings; 4/4 directors attended the 2024 annual meeting .
- Leadership changes: Following an August 2025 capital transaction, Zachary Witkoff became Chairman and Eric Trump joined the Board; a Lead Investor obtained board nomination rights (two seats), an observer seat, and influence over a treasury reserve subcommittee (see “Red Flags”) .
Fixed Compensation
| Component | Amount | Effective Date / Notes |
|---|---|---|
| Board fees (cash) | $1,200 per month | Stated at appointment on July 2, 2025 |
| One-time equity issuance (common shares) | 10,000 shares | Issued at Historical NOCP of $7.88 per share (imputed grant value $78,800) on July 2, 2025 |
| Non-employee director policy context (FY2023) | Cash-only fees disclosed for then-serving directors (e.g., Butler $30,000; Bitar $18,000; Hajjar $14,400) | Indicates mix relied on cash; option awards “—” in FY2023 |
No separate committee chair/membership fees or meeting fees are disclosed for 2025. Hedging by directors is prohibited under ALTS policy .
Performance Compensation
| Metric/Design | Disclosure | Applicability |
|---|---|---|
| Equity Incentive Plan purpose | Plan seeks to “enhance stockholder value by linking compensation of officers, directors, key employees, and consultants…to increases in stock price and achievement of other performance objectives” | Applies to directors under the 2024 Plan; specific director performance metrics not disclosed |
| Specific director PSU/RSU metrics (Revenue, EBITDA, TSR, ESG) | Not disclosed | No director-specific performance metric framework detailed in filings |
Other Directorships & Interlocks
| Company | Role | Overlap/Interlock | Notes |
|---|---|---|---|
| Osisko Development Corp. | Director | None disclosed with ALTS | Current public company directorship |
| Sphere 3D Corp. | Director | Shared history: ALTS CEO Peter Tassiopoulos previously served as Sphere 3D CEO/President/Director | Potential information network link; not a disclosed related-party transaction |
| Multiple TSX/TSXV issuers | Director | None disclosed | Prior governance roles across mining/tech/life sciences |
| TSXV Advisory Committee | Member | None | Market/regulatory advisory role |
Expertise & Qualifications
- Chartered Professional Accountant; decades of audit, compliance, and public markets advisory experience, including leading assurance for public companies at MNP LLP .
- Deep expertise in complex financial reporting, governance, and turnaround strategies; multi-market board experience (TSX, TSXV, Nasdaq, LSE) .
- Regulatory/market advisory exposure via TSXV Advisory Committee .
Equity Ownership
| Holder | Security | Shares Beneficially Owned | % of Class | As-of | Context |
|---|---|---|---|---|---|
| David Danziger | Common Stock | 20,000 | Less than 1.0% | Aug 12, 2025 | Based on 109,620,596 common shares outstanding; percent-of-voting-power includes 883,667 voting preferred shares in total voting base |
| Policy | Hedging | Prohibited for directors | — | Proxy FY2023 | Company-wide no-hedging policy for directors, officers, employees |
Governance Assessment
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Strengths
- Audit Committee leadership: Appointment as Audit Chair following the passing of the prior chair positions him to oversee financial reporting, internal controls, and related-party review; his CPA and assurance background support effectiveness .
- Ownership alignment: Direct common stock holdings increased from an initial 10,000-share issuance to 20,000 shares beneficially owned as of Aug 12, 2025; company prohibits hedging, reinforcing alignment .
- Independence indicators: No family relationships and no Item 404(a) related-party transactions disclosed for his appointment .
-
Risks and RED FLAGS
- Lead Investor influence on governance: World Liberty Financial obtained rights to nominate two directors (including the Chairman), appoint a board observer, and chair a treasury reserve subcommittee where decisions require Lead Investor Director approval—creating potential board independence and oversight challenges; Danziger’s Audit Chair role will be critical in monitoring conflicts and treasury risk .
- Board leadership concentration: Shift to investor-nominated Chairman and addition of a high-profile director could centralize influence; absence of a Lead Independent Director in 2024 underscores the need for robust committee checks .
- Related-party environment history: The company historically engaged in shared services with Live Ventures and had familial ties at the executive level (pre-2024); Audit oversight of related-person transactions remains a focal area (Danziger’s committee remit) .
Overall signal: Danziger’s audit and governance pedigree is a positive stabilizer amid rapid board/investor changes. His committee roles and no-hedging policy enhance investor alignment; vigilance is warranted around Lead Investor rights and treasury governance mechanics .