Eric T. Shuss
About Eric T. Shuss
Eric T. Shuss (age 58) is an independent director of Bannix Acquisition Corp. (BNIX) with 35+ years of experience scaling and operating high‑tech companies across AI/robotics, ERP/IT consulting, manufacturing, telecom, retail, and distribution. He studied Computer Science at California State University, Long Beach, and has served as Senior Industry Analyst at Avantiico since May 2019, previously owning and managing Peryton Systems (2016–2019) and holding analyst/presales roles at Hitachi . He joined BNIX’s board following the Schedule 14F mailing in November 2022 and is designated independent under SEC and Nasdaq rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Avantiico | Senior Industry Analyst | May 2019 – present | Industry/technology advisory for ERP and AI/robotics engagements |
| Peryton Systems | Owner/Managing Consultant | Apr 2016 – May 2019 | Commercialization of AI, VR/AR, ERP, supply chain/logistics technologies |
| Hitachi Corporation | Senior Industry Analyst/Presales | Not disclosed | Technology presales and industry analysis |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Not disclosed in BNIX filings | — | — | No current public company directorships disclosed for Shuss . |
Board Governance
- Independence: Shuss is identified as an independent director; BNIX notes Marshak, Khurshid, Shuss, and Siegel as independents with independent-only sessions .
- Current BNIX committees (FY 2024 10-K): Audit Committee member (with Khurshid as Chair; members Khurshid, Siegel, Shuss) and Compensation Committee member (with Siegel as Chair; members Siegel, Shuss, Marshak) .
- Post‑business combination (VisionWave Holdings governance plan): Shuss to chair the Compensation Committee and the Nominating & Corporate Governance Committee, and serve on the Audit Committee; board majority to be independent and committees to meet SEC/Nasdaq independence standards .
- Board reconfiguration to meet Nasdaq independence: On May 22, 2025, three insiders resigned board seats (remaining executives) so the VisionWave board would have five members with a majority independent, expressly to comply with Nasdaq governance requirements .
- Attendance: No board or committee attendance rates disclosed in available BNIX proxy/10‑K materials.
Fixed Compensation
| Component | Amount/Terms | Notes |
|---|---|---|
| Director cash retainer | Not disclosed | No specific non‑employee director cash retainer or meeting/committee fees disclosed in DEF 14A/10‑K . |
| Committee chair/member fees | Not disclosed | — |
| Equity (RSUs/DSUs/options) | Not disclosed | No annual director equity grant details disclosed . |
Performance Compensation
| Metric Type | Description | Tied to Director Pay? | Notes |
|---|---|---|---|
| Performance metrics (revenue/EBITDA/TSR/ESG) | Not disclosed | Not disclosed | BNIX filings do not state performance metrics tied to director compensation . |
| Vesting schedules | Not disclosed | — | — |
| Clawbacks, change‑of‑control terms | Not disclosed | — | — |
Other Directorships & Interlocks
| Company | Role | Committees | Interlock/Conflict Notes |
|---|---|---|---|
| None disclosed | — | — | BNIX filings do not disclose other public boards for Shuss; biographies emphasize operating/consulting roles (Avantiico, Hitachi, Peryton) . |
Expertise & Qualifications
- Technology/operator: 35+ years leading roles across AI/robotics, ERP/IT, manufacturing and telecom; author/futurist on tech adoption .
- Financial literacy: BNIX designated Shuss financially literate for audit committee service; audit committee composed solely of independent directors per SEC/Nasdaq .
- Governance readiness: slated to chair Compensation and Nominating/Governance post‑combination, indicating board confidence in Shuss’s governance oversight .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Outstanding | As‑of Date | Notes |
|---|---|---|---|---|
| Eric T. Shuss | Not quantified | Less than 1% | Feb 18, 2025 | BNIX had 2,848,748 shares outstanding; Shuss listed as officer/director with “** Less than 1%” ownership; exact share count not provided . |
Potential Conflicts or Related‑Party Exposure
- BNIX recorded consulting fees paid to “a company related to one of Bannix’s board members” ($8,000, Oct 2024); the filing does not identify the specific director—no disclosure tying this transaction to Shuss individually .
- BNIX has substantial related‑party balances (promissory notes, administrative support, advances) owed to sponsors/affiliates, with payment deferrals to post‑closing (aggregate deferred related‑party obligations ~$1.42M as of Feb 4, 2025; administrative support fees $5,000/month) .
- Sponsor‑linked governance history: extensive sponsor and insider financing arrangements and board changes since Oct–Nov 2022; Shuss appointed as independent during that transition .
- Pledging/hedging: No disclosures indicating pledging or hedging of company stock by Shuss .
Governance Assessment
- Strengths:
- Independence and financial literacy; prior audit/comp committee service; slated to chair Compensation and Nominating/Governance post‑combination—signals trust in governance oversight .
- Board adjusted to meet Nasdaq majority‑independent requirement—positive compliance signal .
- Weaknesses / RED FLAGS:
- Limited transparency on director compensation (cash/equity), attendance, and ownership guidelines—reduces alignment visibility .
- Material reliance on related‑party financing and deferred obligations to sponsors/affiliates; while not attributed to Shuss, these conditions present structural governance risk around independence and conflicts (payments due post‑closing) .
- Going‑concern and trust account dynamics typical of late‑stage SPACs increase pressure on governance and compensation discipline during de‑SPAC transition .
Implications: Shuss’s independent status and committee leadership, especially in Compensation and Nominating/Governance, will be pivotal for investor confidence through the de‑SPAC. Clear disclosure of director pay, ownership guidelines, and any related‑party links is advisable to mitigate perceived governance risk tied to sponsor financing and deferred obligations.
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