Shaka Rasheed
About Sháka Rasheed
Independent director since 2021; age 53. General Partner at Open Opportunity Fund, L.P. (since Aug 2024), with prior senior roles at Salesforce (SVP, Strategic Banking & Wealth Management, Sep 2022–Oct 2023), Microsoft (Managing Director, General Manager—Capital Markets, Sep 2019–Sep 2022), Bridgewater Associates (Head of Sales & Marketing, Dec 2016–Jan 2019), Lazard Asset Management (MD & Head of Alternative Investments—Americas, 2013–2016), Citadel (Distribution—Americas, 2010–2013), and J.P. Morgan (various roles over 16 years, last 4 years at JPM Asset Management). Education: BA Morehouse College; MBA Harvard Business School .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Salesforce, Inc. | SVP, Strategic Banking & Wealth Management | Sep 2022–Oct 2023 | Financial services go-to-market leadership |
| Microsoft Corporation | Managing Director, GM—Capital Markets (US) | Sep 2019–Sep 2022 | Led US Capital Markets vertical; fintech acumen |
| Bridgewater Associates | Head of Sales & Marketing | Dec 2016–Jan 2019 | Institutional distribution leadership |
| Lazard Asset Management | MD & Head of Alternative Investments—Americas | 2013–2016 | Alternatives distribution strategy |
| Citadel Asset Management | Acting Head/Director of Distribution—Americas | 2010–2013 | Institutional sales management |
| J.P. Morgan Chase & Co. | Various roles; Senior Client Advisor at JPMAM | 16 years (last 4 at JPMAM) | Investment/wealth advisory |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Open Opportunity Fund, L.P. | General Partner | Aug 2024–present | Venture/PE GP role |
| New York Hall of Science (non-profit) | Co-Chair, Nominating & Governance Committee | 2022–present | Governance leadership |
| M12 (Microsoft’s venture fund) | Former Expert Network Member | 2021–2022 | Venture advisory |
| The Robert Toigo Foundation | Former Board Member; Chair of Finance Committee | 2008–2012 | Non-profit board finance oversight |
| Achievement First–Endeavor Charter School | Chairman of the Board | 2005–2010 | Non-profit leadership |
Board Governance
- Independence: Board affirmatively determined Rasheed is independent under NYSE rules .
- Committee assignments: Audit Committee member; Nominating & Corporate Governance Committee member .
- Committee chairs: Audit Committee chaired by David M. Tolley; Nominating & Corporate Governance chaired by Dale Anne Reiss (Rasheed not a chair) .
- Attendance: Board met 28 times in 2024; each director attended ≥75% of Board and committee meetings; all directors in April 2024 attended the 2024 annual meeting . Audit Committee met 5 times; Nominating & Corporate Governance met 8 times in 2024 .
- Anti-hedging/pledging policy: Prohibits options/derivatives, short sales, margin accounts, and pledging of company stock (unless approved by Board) .
- Director stock ownership guidelines: Minimum 4x annual director cash base retainer; directors are either compliant or within the 5-year transition window .
- Audit Committee oversight: Audit Committee reviewed auditor independence and recommended inclusion of 2024 audited financials in Form 10-K .
Fixed Compensation
| Component | Amount/Terms | 2024 Value |
|---|---|---|
| Annual cash retainer | $100,000 cash retainer for non-employee directors | Included in Fees Earned |
| Committee membership fees | Audit Committee member $15,000; Nominating & Corporate Governance member $10,000 | Included in Fees Earned |
| Chair fees | Not applicable (Rasheed is not a chair) | — |
| Per-meeting fees (above thresholds) | Board meetings beyond 8: $2,500 per meeting; committee meetings beyond 8: $1,500 per meeting | Potentially included in Fees Earned |
| Equity annual grant | $175,000 in restricted shares or DSUs; grants two business days after re-election; one-year vest | $175,000 (grant date fair value) |
| 2024 director total | Fees earned in cash and stock award | Fees: $148,000; Stock awards: $175,000; Total: $323,000 |
Performance Compensation
- Directors do not receive performance-based equity; annual stock awards vest on a one-year time basis. In 2024, Rasheed’s stock award was issued as deferred stock units (DSUs) with one-year vesting following re-election (election on April 26, 2024; annual grant issued April 30, 2024) .
| Equity Award Metric | Structure | 2024 Terms |
|---|---|---|
| Instrument | Deferred Stock Units (DSUs) | DSUs issued for Rasheed in 2024 |
| Grant timing | Two business days after re-election | April 30, 2024 grant for 2024 cycle |
| Vesting | One-year, time-based | Full vest on first anniversary of grant |
| Dividend equivalents on DSUs | Reinvested into additional DSUs | Same restrictions/conditions apply |
Other Directorships & Interlocks
- Public company directorships: None disclosed for Rasheed in DBRG’s proxy biography .
- Compensation Committee interlocks: None at DBRG; the Compensation Committee has no interlocks or employee participation (context for overall governance) .
Expertise & Qualifications
- Deep financial services and capital markets expertise across investment banking, debt & equity capital markets, private wealth and institutional asset management; fintech acumen .
- Skills matrix—Digital, capital markets, investment/portfolio management, human capital, corporate governance attributes present at Board level (Rasheed’s skills reflected in Board matrix) .
Equity Ownership
| Item | Detail |
|---|---|
| Beneficial ownership (common share equivalents) | 39,499; less than 1% of shares outstanding |
| Unvested director equity at 12/31/2024 | 10,283 unvested DSUs held by Rasheed |
| Options | None outstanding among directors as of 12/31/2024 |
| Pledging/Hedging | Company policy prohibits hedging, shorting, margin, and pledging (unless Board-approved) |
| Ownership guideline | 4x annual cash base retainer; directors compliant or within 5-year transition |
Governance Assessment
- Strengths: Independent status; service on Audit and Nominating & Governance Committees; strong Board/committee attendance norms and independent chair; robust anti-hedging/pledging policy; stock ownership guidelines; DSU-based equity aligns incentives with long-term shareholders .
- Compensation alignment: 2024 director pay mix combines cash retainer, committee fees, and a single-year equity grant ($323,000 total), with no performance-based components; DSU elections defer taxation and maintain equity exposure .
- Conflicts/related party exposure: Proxy’s Related Party Transactions section does not list transactions involving Rasheed; DBRG maintains formal policy requiring Audit Committee/Board approval for any related party transactions over $120,000 .
- Engagement signals: Audit Committee independence and oversight of auditor independence and 10-K inclusion suggest sound financial governance; Nominating & Governance Committee met 8 times in 2024, indicating active refreshment and evaluation processes .
- Potential watch items: External GP role at Open Opportunity Fund since Aug 2024—no related-party transactions disclosed, but investors should monitor for any future overlap or dealings requiring Item 404 review; director equity is time-vested rather than performance-vested, which is standard but offers less pay-for-performance sensitivity for directors .