Matt Schindel
About Matt Schindel
Independent director of Compass Digital Acquisition Corp. (CDAQF) since August 2023; age 39; BA from Harvard College. Prior roles include CFO of Snapdocs (Feb 2020–Jul 2023) and executive positions at Sunrun, with >15 years as an investor/operator and >10 years in climate/renewables businesses. Also serves as a director of TortoiseEcofin Acquisition Corporation III (a SPAC) since July 2023 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Snapdocs | Chief Financial Officer | Feb 2020–Jul 2023 | Real estate software; automation solutions for lending ecosystem (context, company description) |
| Sunrun, Inc. | Executive roles (various) | Not disclosed | Leading residential solar/storage; energy services (context) |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| TortoiseEcofin Acquisition Corporation III | Director | Jul 2023–present | SPAC directorship; specific committee roles not disclosed |
Board Governance
- Committee assignments: Audit Committee member (chair: Anna Brunelle) ; Compensation Committee chair and member (with M. Joseph Beck) ; not on Nominating & Corporate Governance Committee (members: Kirk Hovde, chair; M. Joseph Beck) .
- Independence: Audit and Compensation Committees are composed solely of independent directors; Audit members (including Schindel) are independent of and unaffiliated with Sponsors .
- Board structure: Six directors across three staggered classes; Schindel is in the second class (term expires at the second annual general meeting) .
- Policies: Code of Ethics and Insider Trading Policy adopted; Insider Trading Policies and Procedures (Oct 14, 2021) .
- Auditor oversight: Audit Committee pre-approves services; Withum selected/ratified as independent auditor for FY2025 .
Fixed Compensation
| Item | Pre-BC status (as of FY2024/2025) |
|---|---|
| Annual cash retainer | No director cash compensation paid to date |
| Committee membership fees | None disclosed/paid pre-Business Combination |
| Committee chair fees | None disclosed/paid pre-Business Combination |
| Meeting fees | None disclosed/paid pre-Business Combination |
| Administrative Services Agreement (company-to-sponsor) | Company may pay Sponsor up to $10,000/month for office/admin services (not director pay) |
Performance Compensation
| Item | Pre-BC status (as of FY2024/2025) |
|---|---|
| Equity awards to directors (RSUs/PSUs) | None disclosed/paid pre-Business Combination |
| Option awards to directors | None disclosed/paid pre-Business Combination |
| Performance metrics tied to director pay | Not applicable prior to Business Combination |
| Clawback policy | Company adopted “Policy Related to Recovery of Erroneously Awarded Compensation” on Nov 30, 2023 (policy existence; director pay not applicable pre-BC) |
Other Directorships & Interlocks
| Company | Role | From | Interlocks/Notes |
|---|---|---|---|
| TortoiseEcofin Acquisition Corporation III | Director | Jul 2023–present | Another SPAC; no shared committees or transaction interlocks with CDAQF disclosed |
Expertise & Qualifications
- 15+ years as an investor/operator; >10 years in climate and renewables .
- Finance leadership: CFO of Snapdocs (2020–2023) .
- Energy/technology operating experience via Sunrun .
- Education: BA, Harvard College .
- Governance: Chairs CDAQF Compensation Committee; member of Audit Committee .
Equity Ownership
| Metric | Value |
|---|---|
| Individual beneficial ownership (Class A) | Not reported for Schindel in beneficial ownership table |
| Individual beneficial ownership (Class B) | Not reported for Schindel in beneficial ownership table |
| Ownership % | Not reported for Schindel; group holdings reflect Sponsor control (context below) |
| Indemnification | Indemnity Agreement dated Aug 31, 2023 (Schindel) |
Context: As of the record date, Sponsors and insiders collectively hold 3,200,000 Class A and 2,110,122 Class B shares, representing approximately 68.15% of outstanding ordinary shares entitled to vote in the April 2025 meeting .
Governance Assessment
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Strengths
- Independent director; serves on Audit Committee and chairs Compensation Committee, signaling active governance involvement .
- Formal governance infrastructure: Committee charters (Audit, Compensation, Nominating), Code of Ethics, Insider Trading Policy (Oct 14, 2021) .
- No director pay pre-Business Combination reduces pay-related conflicts; compensation committee may retain independent advisors per charter .
- Indemnification in place; clawback policy adopted (company-level) .
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Risks/RED FLAGS
- Sponsor/insider voting control (~68.15%) and stated intent to vote all founder shares “FOR” proposals can approve extensions and combinations even without broader public support; strong misalignment risk versus minority holders .
- Founder shares and private placement warrants would expire worthless absent a Business Combination—creates incentive to complete a deal regardless of quality .
- CDAQF was delisted from Nasdaq and now trades on OTC Pink (CDAQF/CDAWF/CDAUF), indicating heightened market/liquidity risk and governance optics concerns .
- Reliance on Sponsor for administrative services ($10,000/month) and Sponsor-related promissory notes/financings can introduce related-party exposure and influence over operations .
- Board family relationships among other directors (father/son and cousins) may affect board dynamics; mitigated in committees by independence requirements .
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Attendance/Engagement: Board/committee attendance rates are not disclosed in available filings; no data to evaluate this dimension.
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Related-party transactions: Extensive sponsor financing arrangements and indemnities; Audit Committee responsible for reviewing related-party transactions prior to entry .
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Upcoming events and extension context: The March 25, 2025 proxy sought extension and removal of redemption limitation to facilitate the EEW Business Combination; management acknowledges high redemption dynamics and liquidity implications .
Overall signal: Schindel’s independent status and committee leadership are positives; however, SPAC structural features and Sponsor control present material governance risks that can override minority preferences and create payless-but-deal-driven incentives prior to Business Combination .