Daniel R. Henry
About Daniel R. Henry
Daniel R. Henry (age 59) is an independent director of Paysign, Inc. and has served on the board since May 2018. He is a seasoned financial services entrepreneur, former CEO of Green Dot (2020–2022) and NetSpend (2008–2014), and previously co-founded Euronet Worldwide, serving as President and COO (1994–2006) and on its board until January 2008; he is currently a private investor/advisor since 2013 and serves on the board of Dama Financial .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Green Dot Corporation | Chief Executive Officer | 2020–2022 | Led publicly traded fintech; CEO tenure indicates large-scale operating leadership |
| NetSpend | Chief Executive Officer | 2008–2014 | Built leading prepaid provider; CEO role across growth cycle |
| Euronet Worldwide, Inc. | President & COO; Director | 1994–2006 (President & COO); Board until Jan 2008 | Co-founder; global payments operator; company completed IPO and ~50 acquisitions (Newman bio confirms Euronet public) |
| Private Investor/Advisor | Investor/Advisor | Since 2013 | Strategic counsel; sector expertise |
External Roles
| Organization | Role | Status | Notes |
|---|---|---|---|
| Dama Financial | Director | Current | Financial services company; Henry currently serves on its board |
| Euronet Worldwide, Inc. | Director (past) | Ended Jan 2008 | Public company; Euronet IPO and major deals referenced in peer director bio (Newman), indicating public status |
Board Governance
- Independence: Board determined Henry is independent under Nasdaq rules; he serves on committees requiring enhanced independence standards (Audit and Compensation) .
- Committee assignments: Audit Committee member; Compensation Committee Chair; not on Nominating Committee .
- Committee activity: Audit Committee met 4 times in 2024; Compensation Committee met 5 times; Nominating met 4 times .
- Attendance: In 2024, every director attended at least 75% of board and applicable committee meetings; all directors attended the 2024 annual meeting .
- Board leadership: CEO also serves as Chairman; executive sessions of non-management directors occur, generally chaired by the Chairman .
- Related-party oversight: Audit Committee (all independent) reviews and approves related-party transactions; none reported for 2024 .
Fixed Compensation
| Metric | 2023 | 2024 |
|---|---|---|
| Fees Earned or Paid in Cash ($) | $21,000 | $21,000 |
Notes: Independent board members receive an annual fee of $21,000; reasonable travel expenses are reimbursed. No separate meeting or chair fees are disclosed in the proxy .
Performance Compensation
| Metric | 2023 | 2024 |
|---|---|---|
| Restricted Stock Awards ($) | $104,200 | $84,600 |
| Option Awards ($) | – (none) | – (none) |
| Total Director Compensation ($) | $125,200 | $105,600 |
Option grant history (director-specific):
- May 2018 option grant: 1,500,000 shares at $1.34 strike; annual vesting over four years .
- Outstanding options under “2018 Option issued to Director”: 1,350,000 shares to be issued upon exercise as of Dec 31, 2024; weighted-average exercise price $1.34 .
Other Directorships & Interlocks
| Relationship | Indicator |
|---|---|
| Shared Euronet background | Henry co-founded and led Euronet; independent director Jeffrey B. Newman served as EVP/GC at Euronet, executed its IPO and ~50 acquisitions, and chairs Paysign’s Nominating Committee. This creates a network link that may enhance payments industry insight flow to Paysign’s board . |
Expertise & Qualifications
- Financial services entrepreneur with CEO experience at Green Dot and NetSpend, and co-founder/operator of Euronet; brings senior leadership and operating acumen across prepaid and payments infrastructure .
- Current governance and compensation oversight as Compensation Committee Chair, with authority to administer the 2018 Incentive Compensation Plan and 2023 Equity Incentive Plan .
Equity Ownership
| Metric | Value |
|---|---|
| Total beneficial ownership (shares) | 1,430,000 |
| Ownership as % of outstanding | 2.6% (based on 53,747,674 shares outstanding) |
| Options exercisable/issuable within 60 days | 1,350,000 |
| Shares outstanding (reference) | 53,747,674 (record date basis) |
Policy context:
- Anti-hedging: No formal hedging policy; company discourages hedging; transactions must comply with insider trading policy .
- Director stock ownership guidelines: No director-specific ownership guidelines disclosed in the proxy (no mention across governance sections).
Insider filings:
- Delinquent Section 16(a) reports: For 2024, late filings noted for Jeffery B. Baker, Bruce A. Mina, and Daniel H. Spence; no delinquent report cited for Henry .
Governance Assessment
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Strengths:
- Independent director status with substantive committee roles (Audit; Compensation Chair) supports oversight of financial reporting and pay practices .
- Attendance/engagement: ≥75% attendance in 2024 and presence at annual meeting indicate active participation .
- Ownership alignment: 2.6% beneficial ownership with significant long-standing option exposure (1.35M options) suggests economic alignment with shareholders .
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Potential risks/RED FLAGS:
- Combined CEO/Chairman structure may limit independent board leadership; executive sessions are chaired by the Chairman, not a lead independent director .
- No formal anti-hedging policy (company discourages but no formal prohibition), which can be viewed as a governance policy gap versus best practice .
- Historic single large option grant (2018) and ongoing director RSUs reflect equity-heavy director pay; absence of disclosed director ownership guidelines reduces clarity on long-term holding expectations .
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Related-party/Conflicts:
- No related-party transactions involving directors or >5% holders in 2024; Audit Committee conducts ongoing oversight of related-party transactions .
- Euronet-linked interlock via Newman’s past executive role may introduce network effects; currently framed as expertise rather than a related-party exposure .
-
Compensation committee processes:
- Compensation Committee chaired by Henry; holds authority to oversee executive pay and equity plans and to engage external advisors if needed, though the board historically has not used compensation consultants .