Assel Mendesh
About Assel Mendesh
Assel Mendesh is Chief Financial Officer of Destiny Media Technologies Inc. (DSNY) effective May 1, 2025; she is a Chartered Professional Accountant (CPA) with over 15 years of accounting, audit, and financial reporting experience, and there were no related party arrangements associated with her appointment . She executed the company’s Sarbanes–Oxley Section 302 certification (Exhibit 31.2) and co-signed the Section 906 certification for the Q3 2025 Form 10-Q filed July 14, 2025, reflecting responsibility for disclosure controls and financial reporting . During Q3 2025, service revenue was $1,133,963 versus $1,155,442 in Q3 2024 and gross margin held at 85.7% versus 87.0% YoY, providing context for operating performance within her initial tenure .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Various public and private companies | Financial reporting services (CPA) | 15+ | Accounting, audit, and financial reporting experience across industries |
Fixed Compensation
- The company disclosed no employment agreement, material compensatory plan, contract, or grant made to Mendesh in connection with her appointment as CFO on May 1, 2025 .
- The 2025 proxy’s Summary Compensation Table covers FY 2024 and lists named executive officers as the CEO and the prior CFO; no compensation details for Mendesh were included in that filing cycle .
Performance Compensation
- No RSU/PSU or option awards have been disclosed for Mendesh through FY 2025; her Form 5 shows only common shares acquired via the Employee Stock Purchase Plan (ESPP) and no derivative holdings .
Equity Ownership & Alignment
| Metric | 05/01/2025 (Event date) | 08/31/2025 (FY end) |
|---|---|---|
| Beneficial ownership (shares) | 0 (Form 3 initial statement) | 1,708 direct shares acquired under ESPP at ~$0.56 weighted-average USD price (converted from CAD $0.78) |
| Shares outstanding (company) | 9,637,410 (latest practicable date stated in 10-Q) | 9,637,410 |
| Ownership % of common | 0.000% (0 / 9,637,410) | ~0.018% (1,708 / 9,637,410) |
| Derivatives held (options/RSUs) | None disclosed | None disclosed |
- ESPP program: employees may contribute up to 5% of salary, with company matching and purchases executed via TSX-V; shares are held in trust by the company for one year from purchase date (680,610 shares held in trust as of May 31, 2025), indicating broad employee participation and alignment mechanisms .
Employment Terms
| Term | Disclosure |
|---|---|
| Start date | May 1, 2025 (CFO appointment effective) |
| Employment agreement | Not entered into at appointment; no material plan/contract adopted |
| Severance provisions | Not disclosed |
| Change-of-control economics | Not disclosed |
| Clawback provisions | Not disclosed in relation to her appointment |
| Non-compete / non-solicit | Not disclosed |
| 10b5-1 trading plan | Not indicated in Form 5 excerpts provided |
Performance & Track Record
| Metric | Q3 2024 | Q3 2025 |
|---|---|---|
| Service revenue (USD) | $1,155,442 | $1,133,963 |
| Gross margin (%) | 87.0% | 85.7% |
- Mendesh signed SOX 302 and SOX 906 certifications on July 14, 2025 for DSNY’s Q3 2025 Form 10-Q, indicating accountability for the effectiveness of disclosure controls and financial reporting processes during her tenure .
Compensation Committee Analysis
- Compensation Committee members are independent (NYSE American standards) and the committee reviews and approves compensation for directors and executive officers; the company did not engage compensation consultants and relies on comparable public-company practices and internal assessment for setting pay .
- Committee charters are posted to the corporate website; the committee may not delegate authority, reinforcing board-level oversight of executive pay .
Say-on-Pay & Shareholder Feedback
| Item | Meeting date | For | Against | Abstained |
|---|---|---|---|---|
| Proposal 4: Advisory vote to approve NEO compensation | Feb 28, 2025 | 4,020,916 | 53,412 | 269,360 |
| Frequency of Say-on-Pay | Meeting date | 3 Years | 2 Years | 1 Year |
|---|---|---|---|---|
| Proposal 3: Frequency | Feb 28, 2025 | 3,803,908 | 189,800 | 349,780 |
Investment Implications
- Compensation alignment: As of appointment, no employment agreement or equity grants were made; her only disclosed share acquisition is via ESPP, suggesting early but modest alignment with shareholders while formal pay-for-performance mechanics for her role remain to be detailed in future proxies .
- Insider selling pressure: No derivative holdings and small ESPP purchases reduce near-term selling pressure signals; monitor for future Form 4 activity and any adoption of Rule 10b5-1 plans .
- Retention and change-of-control risk: Absence of disclosed severance/change-of-control terms at appointment limits visibility into retention economics and parachute costs; investors should scrutinize the next DEF 14A for CFO-specific compensation structure, performance metrics, vesting schedules, and any clawback adoption .
- Governance and shareholder sentiment: Strong say-on-pay support and defined compensation committee oversight provide a constructive framework, though CFO-specific targets and weights are not yet disclosed; ongoing investor engagement will be informed by future filings .
- Operating context: Q3 2025 service revenue declined modestly YoY with stable high gross margins, underscoring the importance of execution on growth initiatives and cost discipline under the new finance leadership .