Eric Schwartz
About Eric Schwartz
Eric M. Schwartz (age 41) is an independent director of Quantum Computing Inc. (QUBT) since March 26, 2025. He is Managing Director at private equity firm Castle Harlan (joined 2007; MD since 2016) with 20 years in corporate finance, M&A, and corporate strategy, and holds a B.S.E. in Biomedical and Electrical Engineering from Duke (Cum Laude) and an MBA from Stanford (Arjay Miller Scholar) . The Board has affirmatively determined Schwartz is independent under Nasdaq rules; he is currently not assigned to any Board committees .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Castle Harlan | Managing Director | 2016–present | Senior investing/portfolio oversight experience; recommended to QUBT Board by a non‑management director |
| Citigroup Global Markets | Investment banking professional (M&A advisory) | Prior to 2007 | Advised across industries; strengthens transactional and capital markets oversight |
| Baker & Taylor (Castle Harlan portfolio) | Director (prior) | Not disclosed | Portfolio company board experience; governance exposure |
| Caribbean Restaurants (Castle Harlan portfolio) | Director (prior) | Not disclosed | Portfolio company board experience; governance exposure |
| Pretium Packaging (Castle Harlan portfolio) | Director (prior) | Not disclosed | Portfolio company board experience; governance exposure |
| Shelf Drilling (Castle Harlan portfolio) | Director (prior) | Not disclosed | Portfolio company board experience; governance exposure |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Sunless (skincare equipment manufacturer) | Director | Current | Board role indicates operational/manufacturing oversight exposure |
| Titan Production Equipment (energy equipment fabricator) | Director | Current | Board role indicates engineering/industrial operations exposure |
| Castle Harlan | Managing Director | 2016–present | PE leadership; potential network access for financing and strategy |
Board Governance
- Independence: The Board determined Schwartz (and four other directors) meet Nasdaq independence standards .
- Committee assignments: Schwartz is not currently on Audit, Compensation, or Nominating & Corporate Governance Committees; current chairs are Turmelle (Audit), Fagenson (Compensation), and Weimer (Nominating & Corporate Governance) .
- Board/committee cadence: The Board met 16 times in 2024; Audit met 7x, Compensation 1x, Nominating 1x . Executive sessions of independent directors are held; Board leadership is combined Chair role (Yuping Huang); lead independent director may be considered periodically .
- Hedging policy: Company prohibits directors, officers, and employees from hedging QUBT securities .
- Director appointment/engagement signals: Schwartz is a signatory on lock-up agreements associated with 2025 private placements, indicating alignment with shareholder interests during financing periods .
Fixed Compensation
| Program Year | Cash Retainer (Base) | Additional Stipends | Payment Cadence |
|---|---|---|---|
| 2025 | $60,000 | $12,000 for Vice Chair; $12,000 for Audit Chair; $6,000 for Chairs of Risk, Compensation, and Nominating & Governance | Paid in equal quarterly installments |
| 2024 (context) | $9,000 per quarter for directors | +$4,000 per quarter for committee chairs; reasonable travel/out‑of‑pocket reimbursed | Prorated per service |
Notes:
- Schwartz joined in March 2025; his 2025 compensation will be under the updated cash stipends program. No specific 2025 equity grants for directors are disclosed in the proxy .
Performance Compensation
| Component | Description | Performance Metrics | Vesting/Terms |
|---|---|---|---|
| Director equity (historical context) | Non‑employee directors have received stock options historically (e.g., 2024 grants to other directors) | No director‑specific performance metrics disclosed; Company indicates it does not award incentive‑based compensation subject to recovery based on financial metrics (context relates to executives) | Not specified for 2025 directors; Compensation Committee has authority to recommend director equity |
- Clawback/disgorgement: Company adopted a compensation recovery policy; in connection with 2023–2022 restatements, no recovery was pursued because incentive‑based compensation tied to financial metrics was not awarded. This disclosure pertains to executives; no director-specific clawback triggers are described .
Other Directorships & Interlocks
| Company | Relationship to QUBT | Potential Interlock/Conflict |
|---|---|---|
| Sunless | Unrelated industry (skincare equipment) | No QUBT related‑party transactions disclosed involving Sunless |
| Titan Production Equipment | Unrelated industry (traditional/clean energy equipment) | No QUBT related‑party transactions disclosed involving Titan |
| Castle Harlan | PE firm | No QUBT related‑party transactions disclosed involving Castle Harlan; Schwartz was recommended by a non‑management director |
Expertise & Qualifications
- Transactional and corporate finance expertise (M&A advisory at Citigroup; PE leadership at Castle Harlan) .
- Technical background (Duke B.S.E. Biomedical/Electrical Engineering) and top-tier business education (Stanford MBA, Arjay Miller Scholar) .
- Multi‑industry board experience across manufacturing, packaging, retail, energy services, and drilling (portfolio boards) .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Shares Outstanding | Ownership Breakdown | Pledging/Hedging |
|---|---|---|---|---|
| Eric Schwartz | 2,261 | 0.0% | Consists of 2,261 shares underlying vested options exercisable within 60 days; no common shares reported outstanding in his name | Hedging prohibited by policy; no pledging disclosed |
Governance Assessment
- Strengths: Independent status; deep M&A and PE oversight background; multi‑industry board experience; adherence to insider trading/anti‑hedging policies; signed financing lock‑up (alignment signal) .
- Neutral/monitoring: No committee assignments yet—monitor future placement on Audit/Comp/Nominating for engagement signal; attendance data for Schwartz not yet disclosed given 2025 appointment; director equity/grant structure for 2025 not specified .
- Red flags observed: None specific to Schwartz. Company-level context includes 2024 auditor change (BF Borgers dismissed; BPM appointed) and restatements; Audit Committee oversight acknowledged—monitor board audit rigor and disclosure quality going forward .
No related-party transactions involving Schwartz were reported above the $120,000 threshold; no family relationships; Board confirms independence .