Daniel Friedberg
About Daniel Friedberg
Daniel Friedberg (age 63) has served as an independent director of MultiSensor AI Holdings, Inc. (MSAI) since 2024. He is Managing Member of 325 Capital and CEO of Hampstead Park Capital Management (both founded in May 2016), with prior roles as CEO/Managing Partner of Sagard Capital and Vice President at Power Corporation of Canada; earlier, he was a Partner and Consultant at Bain & Company. He holds an MBA from Cornell’s Johnson Graduate School of Business and a B.S. from the University of Manchester Institute of Science & Technology .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| 325 Capital | Managing Member | May 2016–present | Leads private equity investments; significant shareholder of MSAI via affiliated filings |
| Hampstead Park Capital Management LLC | Chief Executive Officer | May 2016–present | Private equity leadership |
| Sagard Capital Partners L.P. | CEO & Managing Partner | Jan 2005–May 2016 | Led investment firm operations |
| Power Corporation of Canada | Vice President | Jan 2005–May 2016 | Strategic management at holding company |
| Bain & Company | Partner | 1997–2005 | Operational/strategy advisory experience |
| Bain & Company | Consultant | 1987–1991 | Management consulting foundation |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Quest Resource Holding Corp. (Nasdaq: QRHC) | Chairman of the Board | Apr 2019–present | Ongoing public company chair role |
| Roth CH Acquisition IV Co. (Nasdaq: ROCG) | Director | Aug 2021–present | SPAC directorship |
| Roth CH Acquisition III Co. (Nasdaq: ROCR) | Director | Mar 2020–present | SPAC directorship |
| Roth CH Acquisition II Co. (Nasdaq: ROCC) | Director | Dec 2020–Jul 2021 | Served until merger with Reservoir Holdings |
| Roth CH Acquisition I Co. (Nasdaq: ROCH) | Director | Feb 2020–Mar 2021 | Served until merger with PureCycle Technologies |
| Performance Sports Group Ltd. (NYSE: PSG) | Director | Mar 2016–Jul 2016 | Sporting goods manufacturer |
| InnerWorkings, Inc. (Nasdaq: INWK) | Director | Mar 2014–Aug 2016 | Marketing execution firm |
| GP Strategies Corp. (NYSE: GPX) | Director | 2009–Aug 2016 | Training and consulting provider |
| X-Rite, Inc. (Nasdaq: XRIT) | Director | 2008–2012 | Color measurement solutions |
Board Governance
- Independence: The Board determined Daniel Friedberg is independent under Nasdaq rules .
- Committees: Member, Compensation Committee; Member, Nominating & Corporate Governance Committee .
- Committee composition and leadership: Compensation Committee chaired by Reid Ryan; Nominating & Corporate Governance chaired by Petros Kitsos (Friedberg not a chair) .
- Attendance: In 2024, each committee member attended at least 75% of meetings; Board met four times and all incumbent directors attended at least 75% of meetings .
- Executive sessions: Independent director executive sessions occur regularly, no less than twice a year .
- Board leadership: Chair of the Board is independent (David Gow); CEO role separate (Stuart V. Flavin III) .
| Committee | Role | 2024 Meetings | Attendance |
|---|---|---|---|
| Compensation | Member | 4 | ≥75% attendance by members |
| Nominating & Corporate Governance | Member | 4 | ≥75% attendance by members |
Fixed Compensation
| Year | Cash Retainer ($) | Equity (RSUs) Grant Date Fair Value ($) | Total ($) | Notes |
|---|---|---|---|---|
| 2024 | 20,000 | 40,000 | 60,000 | RSUs immediately vest; non-employee director pay structure |
- Director compensation program: Non-employee directors receive $40,000 cash paid in installments and RSUs that immediately vest; as of March 28, 2025, directors may elect all-equity, $20k cash/$60k equity, or $40k cash/$40k equity mixes .
Performance Compensation
| Performance Metric | Tied to Director Pay? | Disclosure |
|---|---|---|
| Any performance-based metrics (e.g., TSR, revenue/EBITDA goals) | No | Proxy does not disclose performance metrics for director compensation; RSUs vest immediately |
Other Directorships & Interlocks
- Current public company boards: QRHC (Chair), ROCG (Director), ROCR (Director) .
- Potential interlocks: 325 Capital and affiliated group hold 28.2% of MSAI; Friedberg is a 13D/A filer for 325 Capital LLC group—may influence governance dynamics (see Equity Ownership) .
Expertise & Qualifications
- Private equity and corporate governance leadership across multiple public boards; deep financial and operational oversight experience .
- Experience includes leading investment firms (Sagard Capital, 325 Capital), vice presidency at Power Corporation of Canada, and strategy/operations expertise from Bain & Company .
- Formal education: MBA (Cornell), B.S. (University of Manchester Institute of Science & Technology) .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Shares Outstanding | Notes |
|---|---|---|---|
| Daniel Friedberg (personal) | 8,969 | * | Individual holdings; “*” denotes less than 1% |
| 325 Capital LLC group (includes Friedberg as 13D filer) | 9,383,969 | 28.2% | Shared voting/dispositive power reported in 13D/A; affiliated with Friedberg |
- Section 16 compliance: The company disclosed a late Form 4 filing by Daniel Friedberg covering one transaction during 2024 (minor compliance lapse) .
Governance Assessment
- Strengths: Independent status; active roles on key governance committees (Compensation; Nominating & Corporate Governance); attendance at or above the 75% threshold; separation of Chair and CEO roles with an independent Chair; prohibition on director hedging under Insider Trading Policy .
- Alignment: Affiliation with a significant shareholder (325 Capital) may align incentives toward value creation but warrants monitoring for conflicts in votes or transactions .
- Risks/Red Flags:
- Significant shareholder affiliation: Friedberg is a filer on 13D/A for 325 Capital’s 28.2% stake, creating potential conflicts if matters arise involving the shareholder group; audit committee oversees related party transactions policy .
- Late Section 16 filing: One late Form 4 reported for Friedberg; minor but a compliance signal .
- Equity plan repricing flexibility: The 2023 Incentive Award Plan permits option/SAR price reductions or exchanges without stockholder approval—shareholder-unfriendly if used, though not specific to director awards .
- Related-party transactions: Proxy details several RPTs involving other insiders (e.g., Gow, Strahan) and financing conversions; no transactions disclosed involving Friedberg or 325 Capital beyond public ownership filings .
Policies supporting investor confidence: Related person transaction approvals governed by the Audit Committee; Clawback policy implemented for executive officers effective Dec 19, 2023; Insider Trading Policy prohibits hedging of company equity .