Daniel Hancock
About Daniel Hancock
Daniel M. Hancock (age 74) has served as an independent director of Cryoport since January 2019 and sits on the Audit, Compensation, and Science & Technology Committees . He is President of DMH Strategic Consulting LLC; he retired from General Motors in 2011 after 43 years, with prior senior roles including VP Global Strategic Product Alliances, VP Global Powertrain Engineering, CEO of Fiat‑GM Powertrain, and President of Allison Transmission . He holds a master’s in Mechanical Engineering from MIT and a bachelor’s in Mechanical Engineering from the General Motors Institute (Kettering University) and is a member of the National Academy of Engineering .
Past Roles
| Organization | Role | Tenure/Notes | Committees/Impact |
|---|---|---|---|
| General Motors (GM) | Vice President, Global Strategic Product Alliances | Retired in 2011; 43 years of service | Chaired GM’s DMAX and VM Motori diesel engine JVs with Isuzu and Fiat |
| GM | Vice President, Global Powertrain Engineering | Not disclosed (prior appointment) | Global engineering leadership |
| Fiat‑GM Powertrain | CEO | Not disclosed (prior appointment) | Full functional responsibility for global operations |
| Allison Transmission Division | President | Not disclosed (prior appointment) | Full functional responsibility for division operations |
External Roles
| Organization | Ticker/Type | Role | Tenure/Notes |
|---|---|---|---|
| Westport Fuel Systems | NASDAQ: WPRT | Chair of the Board | Current |
| SuperTurbo Technologies, Inc. | Private | Chair of the Board | Current |
| SAE International | Non‑profit | President | 2014 |
| National Academy of Engineering | Academic society | Member | Current |
| Advisory roles | Various global suppliers | Advisor | Current |
Board Governance
- Independence: The Board affirmed Hancock is independent under Nasdaq Rule 5605(a)(2) and SEC rules .
- Attendance: In 2024, each director attended at least 75% of Board and committee meetings for which they served (five Board meetings overall) .
- Lead Independent Director: Ramkumar Mandalam appointed Lead Director in February 2025; independent directors meet in executive session .
- Overboarding limits: Policy caps at 3 public boards (or 2 if the director is also a public company executive) without Board approval .
| Committee | Hancock Role | 2024 Meetings |
|---|---|---|
| Audit | Member | 5 |
| Compensation | Member | 5 |
| Science & Technology | Member | 2 |
Fixed Compensation
| Component (2024) | Amount |
|---|---|
| Annual cash retainer | $70,000 |
| Total cash fees earned | $70,000 |
Chair/leadership cash premia (if applicable): Chair/Lead Director $25,000; Audit Chair $20,000; Compensation Chair $15,000; Nominating Chair $10,000; Science & Technology Chair $24,000 (Hancock is not listed as a chair) .
Performance Compensation
Director equity is time‑based (not performance‑conditioned):
- Annual grants: Options valued at $162,500 (monthly vesting over one year) and RSRs valued at $162,500 (vest one year after annual meeting); exercise price at closing price on the grant date (annual meeting date) .
- Hancock’s 2024 director equity grant values: RSRs $162,499; Options $162,489 .
| Award Type (2024) | Grant Value | Vesting | Exercise Price Policy |
|---|---|---|---|
| RSRs | $162,499 | 100% vest one year after annual meeting | N/A |
| Options | $162,489 | Monthly over one year | Closing price on annual meeting date |
Other Directorships & Interlocks
| Company | Ticker | Role | Interlock/Conflict Considerations |
|---|---|---|---|
| Westport Fuel Systems | WPRT | Chair of the Board | No Cryoport‑related transactions disclosed; sector (transport fuels) distinct from life sciences |
- Blackstone nomination/voting agreement: While not related to Hancock, the Series C holders (Blackstone) have a right to nominate one director (Jagannath) and agreed to vote for Board‑recommended nominees and say‑on‑pay, which shapes board composition and voting outcomes .
Expertise & Qualifications
- Global manufacturing and engineering leadership across powertrain and transmission businesses; JV chair experience (DMAX and VM Motori) .
- Technical credentials: MIT MS in Mechanical Engineering; Kettering University BS in Mechanical Engineering; National Academy of Engineering member .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Common | Rights to Acquire within 60 days | Unexercised Options | Unvested RSRs |
|---|---|---|---|---|---|
| Daniel Hancock | 158,840 | <1% | 136,197 (options/RSRs) | 123,352 | 12,845 |
- Hedging/pledging: Company policy prohibits hedging or pledging of Company stock by directors and employees .
- Stock ownership guidelines: Non‑employee directors must hold stock equal to 3x annual retainer; all were either compliant or within the time allowance as of the record date .
Governance Assessment
- Committee breadth and independence: Hancock serves on three key committees (Audit, Compensation, Science & Technology), all composed of independent directors; Audit Committee has a financial expert and met five times in 2024, supporting oversight quality .
- Engagement: Board met five times in 2024, with directors meeting the ≥75% attendance threshold; indicates baseline engagement .
- Alignment: Director pay mixes cash retainer with meaningful equity (annual options and RSRs), creating ongoing alignment without performance‑conditioned metrics; vesting is time‑based with market‑price options .
- Ownership and safeguards: Hancock’s beneficial ownership includes substantial options/RSRs; the company prohibits hedging/pledging and enforces ownership guidelines (3x retainer), mitigating misalignment risks .
- Conflicts/related‑party: Proxy reports no related‑party transactions involving directors or officers since Jan 1, 2024 (excluding historical Blackstone financing arrangements and their nomination rights); no Hancock‑specific related‑party exposure disclosed .
- Compensation interlocks: Hancock served on the Compensation Committee; the company states no interlocks with entities having executive officers on Cryoport’s Board/Comp Committee, reducing conflict risk .
- Shareholder feedback: Say‑on‑pay received ~98% support at the 2024 meeting, signaling broad investor acceptance of compensation governance (contextual indicator) .
RED FLAGS: None disclosed specific to Hancock (no related‑party transactions, no hedging/pledging permitted, attendance threshold met, within overboarding policy limits) .
Notes on Director Compensation Framework (for benchmarking)
- Annual cash retainer: $70,000 for non‑employee directors .
- Annual equity: Options $162,500 (monthly vesting, one‑year schedule), RSRs $162,500 (one‑year cliff) .
- Sign‑on equity (if newly appointed): Options $200,000 (three‑year monthly vesting), RSRs $200,000 (three‑year annual vesting), plus pro‑rated annual grant .
- Ownership guideline: 3x annual retainer; five‑year compliance window .