Ethan Silver
About Ethan Silver
Ethan Silver is Chief Operating Officer (COO) and Secretary of Destiny Tech100 Inc. (DXYZ). He has served as an officer since May 2021 and was 49 years old as of the 2025 record date . He is a leading FinTech lawyer, serving as a Partner at Lowenstein Sandler LLP, with prior enforcement roles at the New Jersey Attorney General’s Bureau of Securities and the NYSE Enforcement Division; he holds a B.A. from the University of Maryland and a J.D. from New York Law School . The company disclosed no legal proceedings involving officers in the past 10 years; pay-for-performance metrics (e.g., TSR, revenue/EBITDA growth) tied to Mr. Silver’s compensation were not disclosed in the proxy filings reviewed .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Lowenstein Sandler LLP | Partner | 2016–present | Leads FinTech legal work for broker-dealer, crypto, and digital advisory businesses; supports companies in private securities/late-stage pre-IPO space |
| New Jersey AG, Bureau of Securities | Enforcement Lawyer | Not disclosed | Regulatory enforcement experience foundational to compliance/risk oversight |
| NYSE (now part of FINRA) | Enforcement Division | Not disclosed | Self-regulatory enforcement background; market structure and surveillance insight |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Various early-stage companies | Investor | Not disclosed | Personal investing in early-stage/pre-IPO companies; potential network and deal-flow benefits |
Fixed Compensation
Notes:
- DXYZ discloses that officers (including the COO) did not receive aggregate compensation from the company in excess of $60,000 in each of FY 2022, FY 2023, and FY 2024; detailed base salary, bonus targets, and perquisites were not provided .
- Officers who are also officers/employees of the Adviser do not receive direct compensation from DXYZ; the company outsources CFO/CCO functions to PINE Advisor Solutions; Mr. Silver serves as COO and Partner at Lowenstein Sandler LLP; individual compensation details from DXYZ to Mr. Silver were not provided beyond the “≤$60,000” aggregate disclosure threshold .
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Company-paid officer compensation (individual-level disclosure) | Not disclosed; company states no officer exceeded $60,000 | Not disclosed; company states no officer exceeded $60,000 | Not disclosed; company states no officer exceeded $60,000 |
Performance Compensation
- No short-term or long-term incentive plans tied to disclosed metrics (revenue, EBITDA, TSR, ESG, etc.) are presented for officers in the proxies reviewed; no equity plan details (RSUs/PSUs/options) for officers were disclosed .
- The company states it does not maintain a stock or option plan, non-equity incentive plan, or pension plan for directors; no officer equity awards are described, and Mr. Silver reported zero beneficial ownership at each record date reviewed (see ownership table) .
| Incentive Type | Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| Short-term incentive (cash) | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Not disclosed |
| Long-term incentive (equity) | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Not disclosed |
Equity Ownership & Alignment
- Policy prohibits officers and directors from short-selling, hedging/monetization transactions, and pledging company securities; therefore, pledging/hedging by Mr. Silver is prohibited under company policy .
- No stock ownership guidelines or clawback provisions specific to executives were disclosed in the proxies reviewed .
| Metric | Oct 20, 2023 (Record Date) | Aug 9, 2024 (Record Date) | Oct 13, 2025 (Record Date) |
|---|---|---|---|
| Shares Outstanding | 10,879,905 | 10,879,905 | 14,427,988 |
| Ethan Silver Beneficial Ownership (shares) | 0 | 0 | 0 |
| Ownership (% of SO) | 0.0% | 0.0% | 0.0% |
| Vested vs. Unvested Shares | Not disclosed | Not disclosed | Not disclosed |
| Options (exercisable/unexercisable) | Not disclosed | Not disclosed | Not disclosed |
| Shares pledged as collateral | Prohibited by policy | Prohibited by policy | Prohibited by policy |
| Ownership guideline requirement | Not disclosed | Not disclosed | Not disclosed |
| Guideline compliance status | Not disclosed | Not disclosed | Not disclosed |
Employment Terms
- Officer since May 2021; officers hold office until successors are elected/qualified or until resignation/removal; no individual employment agreement, severance, or change-of-control terms for Mr. Silver were disclosed in the proxies reviewed .
- Non-compete, non-solicit, garden leave, post-termination consulting arrangements for Mr. Silver were not disclosed .
| Term | Disclosure |
|---|---|
| Start date / Tenure | Officer since May 2021 |
| Contract term/expiration | Not disclosed; officers serve until successors elected/qualified or earlier resignation/removal |
| Severance (cash multiple) | Not disclosed |
| Change-of-control (trigger, multiples, acceleration) | Not disclosed |
| Non-compete / Non-solicit | Not disclosed |
| Clawback | Not disclosed (no specific executive clawback policy disclosed) |
| Hedging/pledging policy | Hedging and pledging prohibited |
Compensation Committee and Governance Notes
- Compensation Committee oversees executive officer compensation, incentive and equity-based plans (if any), and related policies; independent directors serve on the committee . Current charters and committee membership are outlined in the proxy .
- The company disclosed no legal proceedings for directors/officers in the past 10 years .
Investment Implications
- Alignment and selling pressure: Mr. Silver reported zero beneficial ownership across 2023–2025 record dates, and the company prohibits hedging/pledging—together implying minimal direct insider selling pressure but also limited “skin-in-the-game” alignment through equity ownership .
- Pay-for-performance linkage: DXYZ disclosed no officer-level incentive metrics or equity awards tied to TSR, revenue, or EBITDA; officer compensation from the company did not exceed $60,000 in FY 2022–2024, indicating limited at-risk pay alignment within DXYZ’s structure .
- Retention and transition risk: No employment agreements, severance, or change-of-control protections were disclosed for Mr. Silver, which can reduce exit costs but may elevate retention risk, particularly given his concurrent Partner role at Lowenstein Sandler LLP .
- Governance: Compensation oversight is handled by a committee of independent directors; hedging/pledging prohibitions are positives for governance quality; however, lack of disclosed executive ownership guidelines and clawback policy limits visibility into long-term alignment mechanisms .