Eric Weiss
About Eric Weiss
Eric Weiss, age 54, has served as an independent director of Core Scientific since January 23, 2024. He is founder and Chief Investment Officer of Blockchain Investment Group LP (a hedge fund-of-funds investing exclusively in blockchain assets) since February 2018; earlier roles include US Government bond trader at Morgan Stanley Dean Witter, Director in GE Capital’s Private Equity/Venture Capital division focused on internet businesses, Director of Investments at Internet Capital Group (ICG), and founding Principal at Stripes Group (online direct marketing). He purchased his first bitcoin in December 2013; the Board cites his blockchain and digital asset investing/trading expertise as core credentials for service. His term is in Class 2, expiring at the 2026 annual meeting; independence has been affirmatively determined under Nasdaq rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Blockchain Investment Group LP | Founder & Chief Investment Officer | Since Feb 2018 | Leads fund-of-funds strategy in blockchain assets |
| Morgan Stanley Dean Witter | US Gov’t bond trader | Not disclosed | Capital markets trading experience |
| GE Capital (PE/VC Division) | Director (internet businesses) | Not disclosed | Private equity/venture investing |
| Internet Capital Group (ICG) | Director of Investments; Board representative to multiple portfolio companies | Not disclosed | B2B internet investing; portfolio oversight |
| Stripes Group | Founding Principal | Not disclosed | Led online direct marketing investments |
External Roles
| Organization | Capacity | Public/Private | Committees |
|---|---|---|---|
| Blockchain Investment Group LP | Founder & CIO | Private | N/A |
| Other public company boards | None disclosed | — | — |
Board Governance
- Board class/tenure: Class 2 director; current term through the 2026 annual meeting; Board pursuing declassification so all directors serve one-year terms beginning 2026 if Proposal 4 approved .
- Independence: Board determined Weiss independent under Nasdaq standards .
- Attendance: In 2024, Board held 13 meetings and acted by written consent 10 times; each director attended more than 75% of Board and committee meetings on which he served .
- Leadership: Independent Chair (Jarrod Patten) and separate CEO; executive sessions of independent directors are held .
- Committees (current): Compensation Committee member; Nominating & Corporate Governance Committee member. Chairs: Compensation—Yadin Rozov; Nominating—Jordan Levy; Audit—Todd Becker .
| Committee | Member | Chair | 2024 Meetings |
|---|---|---|---|
| Audit | No | Todd Becker | 8 |
| Compensation | Yes | Yadin Rozov | 10; 7 actions by consent |
| Nominating & Corporate Governance | Yes | Jordan Levy | 3 |
Fixed Compensation
| Year | Component | Amount | Notes |
|---|---|---|---|
| 2024 | Annual Board cash retainer | $100,000 | Paid to all eligible non-employee directors |
| 2024 | Committee member fees | $7,500 (Comp); $5,000 (Nominating) | As applicable per membership |
| 2024 | Chair premiums | $0 | Not a chair; Chair premiums: Audit $25k, Comp $25k, Nominating $10k |
| 2024 Total cash (Weiss) | Fees earned | $100,000 | As reported in director comp table |
| 2025 | Annual Board cash retainer | $100,000 | Approved structure for 2025 |
| 2025 | Chair premium | $75,000 (Board Chair) | Not applicable to Weiss; for Chair only |
| 2025 | Committee chair/member fees | $25k/$10k (Audit); $25k/$7.5k (Comp); $10k/$5k (Nom) | Member rates applicable to Weiss |
Performance Compensation
- Equity instruments: Restricted Stock Units (RSUs) under the 2024 Stock Plan; plan includes clawback applicability, minimum one-year vesting, no single-trigger change-in-control acceleration unless awards are not assumed, and no option/SAR repricing without shareholder approval .
- 2024 grants (on appointment following emergence): One-time RSU grant of 127,446 (3-year vest at grant anniversary); Annual RSU grant of 47,793 (vesting January 23, 2025); total reported RSU fair value per director $844,651; Weiss total 2024 comp $944,651 (cash + equity) .
- 2025 grants: Each non-employee director received an annual grant of 20,448 RSUs in January 2025 with target grant-date fair value $300,000, vesting one year from grant (continuous service required) . Ongoing annual policy contemplates $300,000 RSU grants to non-employee directors .
| Award | Grant Timing | Units | Grant-date Fair Value | Vesting | Notes |
|---|---|---|---|---|---|
| Appointment RSU (Weiss) | 2024 (post-emergence) | 127,446 | Included in $844,651 | Vests on 3rd anniversary of grant | One-time for reconstituted Board |
| Annual RSU 2024 (Weiss) | 2024 | 47,793 | Included in $844,651 | Vested Jan 23, 2025 | Annual director equity |
| Annual RSU 2025 (All NEDs) | Jan 2025 | 20,448 | $300,000 | 1 year from grant | Continuous service required |
Other Directorships & Interlocks
| Entity | Nature | Interlock/Conflict |
|---|---|---|
| None disclosed | — | None disclosed; Compensation Committee interlocks/insider participation: none; Weiss not an employee; no reciprocal board/comp committee interlocks reported . |
Expertise & Qualifications
- Blockchain/digital asset investing and trading markets; long-standing hedge funds investing experience; capital markets trading; PE/VC in internet sectors; portfolio board representation; early bitcoin adoption (Dec 2013). These skills align with Core’s digital infrastructure and HPC/digital asset strategy .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Outstanding | Components/Notes |
|---|---|---|---|
| Eric Weiss | 79,793 | <1% | Reported as common shares; directors had 175,239 unvested RSUs each as of Dec 31, 2024; company policy prohibits hedging, short selling, options trading, margin purchases, and pledging of company shares . |
Fixed vs Equity Mix (Signal)
- In 2024, Weiss’s compensation was heavily equity-weighted: $844,651 RSU fair value vs $100,000 cash (≈89% equity by reported fair value), aligning incentives with shareholder value and supporting pay-for-performance for directors via equity exposure .
Related Party Transactions & Conflicts
- Company reports no related person transactions since January 1, 2024; related-party transactions require Audit Committee review and approval; formal policy outlines identification and approval criteria .
- Insider trading policy prohibits hedging, short selling, derivative trading, margin purchases, and pledging—mitigating alignment risks (pledging is a common red flag) .
- Independence affirmed after review of relationships; Weiss serves on Compensation and Nominating committees as an independent director .
Compensation Committee Analysis (Governance Process)
- Compensation Committee (Chair: Rozov; members: Booth, Weiss) met 10 times in 2024; retains independent consultant Compensia; consultant engagement reviewed for independence; Compensia provided peer group, market data, and program design advice; Compensation Committee acts in executive session and has full authority over executive/director pay policies .
Risk Indicators & RED FLAGS
- RED FLAGS: None disclosed for Weiss specifically (no related-party transactions; hedging/pledging prohibited). The Board is proposing governance enhancements (declassification; removal of supermajority provisions), which are positive signals for accountability and investor rights .
- Attendance and independence standards met; no committee interlocks; director equity subject to clawback and minimum vesting under the Restated Plan .
Governance Assessment
- Positive signals: Independence; >75% attendance; strong equity alignment through RSUs; prohibition on hedging/pledging; use of independent compensation advisor; proposed declassification and supermajority removal enhance board accountability .
- Potential monitoring areas: Weiss’s blockchain fund-of-funds leadership (industry proximity) merits continued oversight for potential information flow conflicts—though Company discloses no related-party transactions and affirms independence; committee roles (Compensation and Nominating) carry heightened governance responsibilities during ongoing transformation to HPC hosting .