Peter Sattelmair

About Peter Sattelmair

Peter Sattelmair is the Chief Financial Officer of Destiny Tech100 Inc. (DXYZ), serving since April 2022, with nearly 25 years of experience in financial services and asset management, including senior fund operations roles at Transamerica Asset Management and State Street Bank; he holds a B.S. in Business Management from the University of Massachusetts, Dartmouth . Age disclosure: 47 in the 2025 proxy and 46 in the 2024 proxy; officer since April 2022 . As CFO, he signed Section 906 Sarbanes-Oxley certifications for DXYZ’s shareholder reports, reflecting responsibility over financial reporting quality . DXYZ’s filings do not disclose TSR, revenue growth, or EBITDA growth linked to his tenure; the company is an externally managed registered investment company with adviser-led operations and officer functions (including CFO) outsourced to PINE Advisers LLC .

Past Roles

External Roles

Fixed Compensation

• Officer compensation structure: DXYZ does not pay officers (including CFO) directly when they are also officers or employees of the Adviser; CFO functions are outsourced to PINE, which receives a monthly fee and reimbursement of out-of-pocket expenses .
• Aggregate officer compensation ceilings disclosed by DXYZ:
  • FY 2022: “none of our officers received aggregate compensation from us in excess of $60,000” .
  • FY 2024: “none of our officers received aggregate compensation from us in excess of $60,000” .

Notes:

• No individual base salary, target bonus %, or actual bonus paid for Peter Sattelmair is disclosed by DXYZ; compensation flows through PINE and is not itemized at the officer level in DXYZ’s filings .
• No stock or option plan, non‑equity incentive plan, or pension plan exists for directors; no officer equity grants are disclosed by DXYZ .

Performance Compensation

• No annual bonus performance metrics, PSU frameworks, or option awards are disclosed for officers at DXYZ; the company’s structure relies on adviser/outsourced staffing rather than direct, performance‑tied officer compensation .
• Hedging/speculative trading and pledging prohibitions apply to directors and officers, reinforcing conduct standards but not constituting performance‑linked incentives .

Equity Ownership & Alignment

Additional alignment context:

• Stock ownership guidelines for officers are not disclosed; Peter has no reported personal ownership in DXYZ across proxies reviewed .
• As a registered investment company with an external adviser, alignment primarily operates through governance oversight and codes of ethics rather than executive equity stakes .

Employment Terms

• Officer since: April 2022 (CFO) .
• Officer tenure mechanics: Officers serve until successors are elected and qualified, or earlier resignation/removal .
• Engagement model: CFO function outsourced to PINE; PINE is paid a monthly fee and reimbursed for out‑of‑pocket expenses; DXYZ has no direct employees .
• Non‑compete/non‑solicit/severance/change‑of‑control economics: Not disclosed in DXYZ’s proxies reviewed; no officer employment agreement terms for Peter were found in the filings searched .
• Clawbacks: Specific clawback provisions are not detailed; codes of ethics and insider trading policies govern conduct and securities transactions .

Board Governance (Compensation Committee Oversight)

• Compensation Committee members: Travis Mason, Lee Daley, Lisa Nelson; Daley serves as Chair; committee met one time during 2024 .
• Committee remit: Oversees compensation policies, recommends incentive/equity‑based plans subject to Board approval, and reviews/approves any officer compensation by the Company (including reimbursement of CFO/CCO compensation) .
• Policy framework: Code of ethics under Rule 17j‑1; prohibitions on hedging/speculative trading and pledging by directors/officers .

Performance & Track Record

• CFO certifications: Co‑signed Section 906 SOX certifications for DXYZ’s N‑CSR reports (periods ended June 30, 2023 and June 30, 2024), attesting to fair presentation of financial condition and results of operations, indicating direct accountability for financial reporting quality .
• Operational contributions: Documented oversight experience at Transamerica and State Street suggests deep fund operations, control, and reporting expertise benefiting DXYZ’s externally managed structure .
• TSR/financial KPI disclosure tied to his tenure: Not provided in DXYZ filings reviewed .

Past Roles

External Roles

Investment Implications

• Pay-for-performance visibility is limited: DXYZ does not disclose officer‑level cash/equity incentive metrics for Peter; compensation is routed through PINE, with aggregate officer compensation from DXYZ capped at ≤$60,000 in FY 2022 and FY 2024, constraining direct pay-for-performance alignment disclosures .
• Alignment risk: Peter holds 0 DXYZ shares across 2023–2025 proxies; while hedging and pledging are prohibited, absence of personal ownership may reduce economic alignment versus typical corporate CFOs, though this is common in externally managed registered funds .
• Retention risk appears mitigated by outsourcing: The CFO function is embedded within PINE’s service model (monthly fee plus reimbursements), suggesting continuity is tied to the PINE relationship rather than individual employment terms; no severance or CoC economics disclosed for Peter, implying low contingent liability risk for shareholders but limited retention hooks at the officer level .
• Governance oversight exists but is light‑touch: Compensation Committee met once in 2024 and oversees officer compensation reimbursement and policy frameworks; insider trading policy limits hedging/pledging, supporting governance hygiene despite limited incentive detail .