Steven Tannenbaum
About Steven Tannenbaum
Independent director of Maywood Acquisition Corp. (MAYA), appointed effective September 11, 2025; age 65. Background spans energy trading and investment management; President of Greenwood Investments since 1995, with prior roles in energy futures and physical oil trading. Education: B.S. in Business Administration, Boston University (1981). Member of the Audit Committee; independence status explicitly noted in appointment disclosure .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Greenwood Investments, Inc. | President | 1995–present | Leads investment partnerships (public/private equities, real estate) |
| New York Mercantile Exchange | Energy futures contract trader; Exchange member | Began 1984 | Markets expertise; risk management |
| Astroline Corporation | Managed physical oil and oil futures trading | 1987–1993 | Operations and commodity trading |
| Tricon USA | Managed physical oil and oil futures trading | 1987–1993 | Operations and commodity trading |
External Roles
| Organization | Role | Public/Private | Notes |
|---|---|---|---|
| Greenwood Investments, Inc. | President | Private | General partner of investment partnerships |
No other public company directorships disclosed in the appointment filing or proxy materials reviewed .
Board Governance
- Appointment and structure: Elected to the Board by the sole Class B shareholder on Sept 11, 2025; Board now comprises Michael Blitzer (Chair/CEO), Kevin Shannon (COO), William Denkin (independent), and Steven Tannenbaum (independent) .
- Committee assignment: Audit Committee member (Denkin also a member); chair not disclosed .
- Independence: Appointment disclosure designates Tannenbaum as “Independent” .
- Governance framework: Articles authorize Audit, Compensation, and Nominating & Governance committees; require independent directors per exchange/SEC rules, and at least one audit committee “financial expert” .
- Indemnification: Company executed standard D&O indemnification agreements for new directors, including expense advancement, contribution, and arbitration/judicial enforcement rights; trust account claims explicitly waived by indemnitees (SPAC construct) .
Fixed Compensation
| Item | Disclosure |
|---|---|
| Pre–business combination compensation | Insiders agreed not to receive finder’s fees, reimbursement, consulting fees, loan repayments, or other compensation prior to or in connection with services to effectuate the business combination |
No director cash retainer, meeting fees, or committee fees disclosed in the reviewed proxy/8-K materials; Articles permit Directors’ remuneration to be set by the Board but do not specify amounts .
Performance Compensation
| Item | Disclosure |
|---|---|
| Equity or option awards to director | DEF 14A beneficial ownership table shows Tannenbaum holds no Class A or Class B shares; no awards disclosed |
No performance-linked metrics (e.g., TSR, EBITDA targets) or director equity programs disclosed in reviewed filings .
Other Directorships & Interlocks
| Company | Role | Committee Roles | Potential Interlock/Conflict Indicator |
|---|---|---|---|
| None disclosed | — | — | — |
Appointment filing states no material related-party transactions for new directors under Item 404(a) (other than sponsor transfer arrangements not involving Tannenbaum) .
Expertise & Qualifications
- Capital markets and investment management: President of Greenwood Investments since 1995; deep experience in public/private equities and real estate .
- Commodities and operations: Energy futures trader (NYMEX member) from 1984; managed physical oil and futures trading (Astroline, Tricon) 1987–1993 .
- Education: B.S., Boston University, School of Management (1981) .
Equity Ownership
| Metric | As of Record Date (Oct 20, 2025) |
|---|---|
| Shares beneficially owned (Class A) | 0 |
| Shares beneficially owned (Class B) | 0 |
| Ownership % of outstanding | 0.0% of 14,928,125 shares outstanding |
| Notes | Table shows Blitzer controls 990,000 Class B (6.6%); Tannenbaum holds none |
Governance Assessment
- Positives: Independent director with Audit Committee membership; no related-party transactions disclosed; robust D&O indemnification and D&O insurance commitment support director effectiveness in SPAC context .
- Alignment concern: Zero share ownership may limit “skin-in-the-game” alignment versus sponsors; beneficial ownership table confirms no direct or indirect holdings for Tannenbaum .
- Sponsor influence and voting structure: Only Class B holders elect directors pre–business combination; governance relies on SPAC Articles and independent oversight (potential concentration of control until de-SPAC) .
- Compensation risk: Insiders contractually forgo compensation pre–business combination, mitigating pay-for-deal risks; Articles allow director remuneration, but no amounts disclosed—monitor post–business combination policy .
- RED FLAGS to monitor: SPAC going concern risk (deadline Aug 14, 2026); liquidity constraints could pressure transaction timing and governance decisions . Broad indemnities and trust-account waivers are SPAC-standard but reduce recourse to trust funds, highlighting reliance on post-combination entity for obligations .
- Committee capacity: Audit Committee membership disclosed (Tannenbaum/Denkin); confirm full compliance with Nasdaq independence/financial expert requirements and identification of chair in subsequent filings .
Related-party exposure: Appointment 8-K explicitly notes no arrangements or understandings giving rise to Item 404(a) transactions for new directors (including Tannenbaum) .