Daniel M. Friedberg
Quest Resource HoldingAbout Daniel M. Friedberg
Daniel M. Friedberg, 63, is Chairman of the Board at Quest Resource Holding Corporation (QRHC), serving since April 2019. He is deemed independent under Nasdaq and SEC standards, holds an MBA from Cornell University and a BS from the University of Manchester Institute & Technology, and brings deep investing, strategy, and board experience across private equity and operating roles .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Hampstead Park Capital Management LLC | Chief Executive Officer | May 2016–present | Private equity leadership; capital allocation and governance oversight |
| 325 Capital LP | Managing Partner | 2016–present | Investment leadership and portfolio governance |
| Roundtrip EV Solutions, Inc. | Chief Executive Officer | May 2021–present | EV industry operating leadership |
| Sagard Capital Partners L.P. | CEO & Managing Partner | Jan 2005–May 2016 | Led PE platform; public and private company investing |
| Power Corporation of Canada | Vice President | Jan 2005–May 2016 | Corporate strategy at diversified holding company |
| Bain & Company | Partner/Consultant | Partner 1997–2005; Consultant 1987–1991 | Strategy, operations, and performance improvement |
External Roles
| Organization | Role | Start Date | Notes |
|---|---|---|---|
| Multi Sensor AI Holdings, Inc. (Nasdaq: MSAI) | Director | July 2024 | Public company board service |
| Transact Technologies Inc. (Nasdaq: TACT) | Director | March 2022 | Public company board service |
| Roth CH Acquisition IV Co. (Nasdaq: ROCG) | Director | Aug 2021 | SPAC board service |
| Roth CH Acquisition III Co. (Nasdaq: ROCR) | Director | Mar 2020–Mar 2021 | SPAC board until merger with QualTek (Nasdaq: QTEK) |
| Roth CH Acquisition II Co. (Nasdaq: ROCC) | Director | Dec 2020–Jul 2021 | SPAC board until merger with Reservoir |
| USA Field Hockey | Director (private) | — | Non-profit/private board service |
Board Governance
- Roles: Chairman of the Board; chairs the Nominations & Corporate Governance Committee, the Financing Committee, and the Strategic Planning Committee; member of these committees per board matrix .
- Independence: Board determined Mr. Friedberg is independent under Nasdaq and SEC rules .
- Classified board: Class III; term expires in 2027 .
- Executive sessions: Independent directors meet in executive session; the Chairman serves as presiding director .
- Attendance: In FY 2024, the Board met 9 times; Audit 11; Compensation 5; Nominations & Corporate Governance 7; Strategic Planning 4; Financing 1. No director attended fewer than 75% of aggregate board and committee meetings .
| Committee | Membership | Chair | FY 2024 Meetings |
|---|---|---|---|
| Audit | Culpepper, Nolan, Lipstein, Dunning, Tomolonius | Culpepper | 11 |
| Compensation | Culpepper, Nolan, Tomolonius | Nolan | 5 |
| Nominations & Corporate Governance | Friedberg, Dunning, Tomolonius | Friedberg | 7 |
| Strategic Planning | Friedberg, Hatch, Dunning | Friedberg | 4 |
| Financing | Friedberg, Nolan, Culpepper, Hatch | Friedberg | 1 |
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Annual cash retainer (non-employee director) | $42,000 | Paid monthly; option to elect DSUs for all/portion |
| Chairman of the Board increment | $293,040 | Annual incremental cash for non-employee Chairman |
| Committee Chair fees | Audit $15,750; Compensation $10,500; Nominations $7,875; Strategic Planning $10,500 | Financing Chair receives no additional fee |
| Committee member fees (non-chair) | Audit $7,875; Compensation $5,250; Nominations $3,938; Strategic Planning $5,250 | Financing Committee members receive no fee |
| 2024 Director Compensation | Fees Earned or Paid in Cash | Stock Awards (Grant-date fair value) | Total |
|---|---|---|---|
| Daniel M. Friedberg | $240,448 | $190,199 | $430,647 |
Directors may elect to receive retainers in DSUs; DSUs are calculated monthly by dividing fees by closing price on last trading day of month; one DSU equals one share delivered after service ends .
Performance Compensation
| Equity Award | Grant Date | Units/Shares | Price/Value | Vesting | Expiration | Notes |
|---|---|---|---|---|---|---|
| Stock option | May 2020 | 223,295 | $1.48 strike | 1/12 monthly vest schedule | 10 years | Director option grant; ongoing options outstanding below |
| RSU (annual grant, directors) | Aug 2024 | 10,409 | $7.565 ($78,744) | Vests 1-year anniversary (Aug 12, 2025) | — | Annual stock-based compensation through Aug 2025 |
| Outstanding Equity (as of Dec 31, 2024) | Count |
|---|---|
| Stock awards (RSUs/DSUs) | 38,521 |
| Options (exercisable/unexercisable mix not detailed) | 513,819 |
- Performance metrics tied to director equity: Not disclosed for directors; RSUs vest time-based; no TSR/financial KPI conditions disclosed .
- Clawback, severance, change-of-control for directors: Not specifically disclosed for directors; company indemnifies directors to fullest extent permitted by Nevada law .
Other Directorships & Interlocks
| Company | Board Role | Committees/Notes |
|---|---|---|
| Multi Sensor AI Holdings, Inc. (MSAI) | Director | Public company board |
| Transact Technologies Inc. (TACT) | Director | Public company board |
| Various SPAC boards (ROCG/ROCR/ROCC) | Director | Prior SPAC board service; concluded at mergers where applicable |
| USA Field Hockey | Director | Private/non-profit board |
- Potential interlocks/conflicts: No related-party transactions disclosed with these entities; Audit Committee must review/approve any related-party transactions per policy .
- Large shareholder linkage: Controls Hampstead Park Environmental Services Investment Fund LLC, holding 2,825,121 QRHC shares; alignment with shareholders but concentration warrants oversight .
Expertise & Qualifications
- Financial, strategic, and M&A expertise from CEO roles at investment firms and Bain partnership; brings organizational, financial, operational, and strategic planning capabilities .
- Education: MBA (Cornell Johnson); BS (University of Manchester Institute & Technology) .
- Governance: Chairs multiple committees and presides over executive sessions as Chairman; board determined independence under Nasdaq rules .
Equity Ownership
| Holder/Instrument | Shares/Units | % of Outstanding | Notes |
|---|---|---|---|
| Total beneficial ownership (Daniel M. Friedberg) | 3,388,700 | 15.96% | As of May 29, 2025; based on 20,681,818 shares |
| Hampstead Park Environmental Services Investment Fund LLC | 2,825,121 | 13.66% | Sole member Hampstead Park Capital; Friedberg is CEO; deemed control |
| Vested stock options (exercisable within 60 days) | 513,819 | — | Included in beneficial ownership |
| DSUs | 39,584 | — | Included in beneficial ownership |
- Hedging/pledging: Prohibited for directors and officers since May 2019 .
- Ownership guidelines: Non-employee directors must hold stock with acquisition price ≥ $100,000 within 5 years; failure may result in ineligibility for stock compensation or nomination . Friedberg’s beneficial ownership materially exceeds the guideline .
Governance Assessment
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Strengths:
- Significant skin-in-the-game via 15.96% beneficial ownership, aligning interests with shareholders .
- Extensive capital allocation and strategy background; chairs Nominations, Financing, and Strategic Planning, reinforcing board effectiveness in oversight of governance, capital allocation, and strategic alternatives .
- Board independence affirmed; robust meeting cadence across committees; no director under 75% attendance .
-
Risks/Watch items:
- Concentration of roles: Chairman plus chair of three committees may centralize influence; ensure balanced oversight via Audit/Compensation chairs and executive sessions .
- Major shareholder affiliation (Hampstead Park) requires vigilant related-party oversight; Audit Committee policy in place to pre-approve related-party transactions .
- Overboarding/time demands: Concurrent public board roles (MSAI, TACT) and executive roles (Hampstead Park, 325 Capital, Roundtrip EV) merit continued monitoring of attendance/engagement—FY 2024 attendance met thresholds .
-
Compensation signals:
- Chairman cash increment ($293,040) plus RSU grants; 2024 mix shows substantial equity ($190,199 grant-date value) supporting alignment, though director equity is time-based rather than performance-conditioned .
- DSU election framework further aligns long-term ownership; hedging/pledging prohibited .
RED FLAGS: None explicitly disclosed in proxy (no related-party transactions reported with his entities; no pledging; attendance above thresholds). Monitor for any future transactions involving Hampstead Park/affiliates and continued concentration of committee chair roles .