Sheldon Brickman
About Sheldon Brickman
Independent director of Reliance Global Group since August 2020; age 59. President of Rockshore Advisors LLC (since May 2013) with 25+ years of M&A/business development experience totaling $40B+ in deal value, and CFO of InfinT Acquisition Corporation since May 2021. Brickman brings deep insurance-sector experience across property-casualty and life/health, including assignments with AIG, Aetna, and National General. He qualifies as an independent director under Nasdaq standards, attended at least 75% of Board/committee meetings in 2024, and attended the 2024 annual meeting.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Rockshore Advisors LLC | President | May 2013–Present | M&A/business development leader; 25+ years; $40B+ aggregate deal value |
| InfinT Acquisition Corporation | Chief Financial Officer | May 2021–Present | Public company SPAC CFO experience (finance, capital markets) |
| AIG; Aetna; National General; international companies (UAE, UK, Asia, LatAm) | Advisory/Assignments (Insurance sector) | Various | Work across carriers, MGAs, wholesalers/retailers, TPAs; property-casualty and life/health |
External Roles
| Company | Role | Public Company Board? | Since |
|---|---|---|---|
| InfinT Acquisition Corporation | Chief Financial Officer | No (executive role; no outside directorship disclosed) | May 2021 |
The proxy does not list any other current public company directorships for Mr. Brickman.
Board Governance
- Independence: The company discloses Brickman as an independent director under Nasdaq standards.
- Board structure: CEO also serves as Chair; no lead independent director disclosed.
- Attendance: Board held 14 meetings in 2024; each incumbent director attended ≥75% of Board/committee meetings; all directors attended the 2024 annual meeting (virtually).
| Body/Committee (FY 2024) | Role | Meetings (FY 2024) |
|---|---|---|
| Board of Directors | Director (Independent) | 14 |
| Audit Committee | Member | 5 |
| Compensation Committee | Member | 5 |
| Nominating & Corporate Governance Committee | Chair | 1 |
Shareholder vote signals (2025 Annual Meeting):
| Item | For | Against | Abstain | Broker Non-Votes |
|---|---|---|---|---|
| Re-election of Sheldon Brickman (2025) | 1,072,220 | 0 | 34,603 | 710,958 |
| Say-on-Pay (2025) | 1,082,884 | 21,626 | 2,313 | 710,958 |
| 2025 Equity Plan (approval) | 1,018,560 | 83,560 | 4,703 | 710,958 |
Fixed Compensation
| Director (FY 2024) | Cash Fees ($) | Notes |
|---|---|---|
| Sheldon Brickman | 47,004 | Non-employee director cash fees; meeting/committee detail not itemized in proxy |
Performance Compensation
| Director (FY 2024) | Stock Awards ($) | Grant Type/Notes |
|---|---|---|
| Sheldon Brickman | 11,766 | Stock awards to directors; specific share counts/vesting not itemized for Brickman in proxy |
Potential performance metrics authorized under the 2025 Equity Plan (plan-level, not director-specific):
| Category | Examples (as defined in plan) |
|---|---|
| Profitability/Returns | Net income; EPS; operating income; pre-tax income; gross margin; net margin; ROE; ROA; return on capital; return on investment |
| Growth/Top-line | Revenue; net revenue; sales; stock price; TSR; market share |
| Cash/Balance Sheet | Cash flow; operating cash flow; free cash flow; debt metrics; attraction of new capital |
| Strategic/Operational | M&A execution; asset acquisitions/dispositions; cost reductions; policy/strategy implementation; hiring/retention |
Additional plan safeguards and limits:
- Outside director grant cap: ≤$300,000 grant-date fair value per fiscal year.
- Exercise price ≥ fair market value on grant date for options/SARs; clawback applies to incentive-based compensation as required.
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Current public company directorships | None disclosed in the proxy for Mr. Brickman |
| Committee roles at other companies | Not disclosed beyond CFO role at InfinT Acquisition Corporation |
| Interlocks with RELI competitors/suppliers/customers | None disclosed |
Expertise & Qualifications
- 25+ years of M&A advisory/business development with $40B+ cumulative deal value; substantive insurance industry expertise across carriers/MGAs/TPAs and both P&C and life/health lines.
- CFO experience at a public SPAC (InfinT Acquisition Corporation) — finance, capital markets, governance exposure.
- Board determined his M&A/insurance experience makes him an ideal director.
Equity Ownership
As of the Record Date (March 31, 2025):
| Holder | Shares Beneficially Owned | % Outstanding | Detail/Footnote |
|---|---|---|---|
| Sheldon Brickman | 63,748 | 2.14% | 63,731 shares held; plus 17 shares acquirable within 60 days; certain shares may be withheld for taxes |
Alignment policies and risk controls:
- Anti-hedging/anti-pledging policy in effect for directors; no pledging disclosed for Mr. Brickman.
- Ownership guidelines for directors not disclosed in proxy.
Insider Trading and Reporting
| Measure (FY 2024) | Detail |
|---|---|
| Section 16(a) timeliness | One late Form 4 filing by Mr. Brickman (single transaction) noted by the company. |
Related-Party Transactions and Conflicts
- The company discloses related-party arrangements (e.g., with Reliance Global Holdings LLC; YES Americana Group LLC; Fortman entities), but none involve Mr. Brickman; he is disclosed as independent under Nasdaq standards.
- Policy requires future related-party transactions to be on arm’s-length terms and approved by independent directors.
Compensation Committee Analysis (structure/process)
- Compensation Committee comprised solely of independent directors (Fruchtzweig, Korman, Brickman) and met 5 times in 2024; it administers equity plans, sets CEO goals, evaluates performance, and oversees incentive design. No disclosure of an external compensation consultant.
- 2025 Equity Plan approved by shareholders, with director award caps and standard equity plan safeguards.
Risk Indicators & Red Flags
- Combined CEO/Chair structure (no lead independent disclosed) can concentrate authority.
- Section 16(a) compliance: one late Form 4 for Brickman (minor process weakness).
- Significant equity plan share reserve (2,000,000 shares, ~67.2% of outstanding at Record Date) poses potential dilution risk if fully utilized; however, per-director award cap is $300,000.
- Positive offsetting signals: strong shareholder support for 2025 say-on-pay and Brickman’s re-election; anti-hedge/anti-pledge policy; committee independence and active oversight.
Governance Assessment
- Strengths: Independent director with deep insurance and M&A expertise; chairs Nominating & Governance; serves on Audit and Compensation; high shareholder support in 2025; anti-hedging/anti-pledging policy; independent committees; clawback policy in place for incentive comp.
- Watch items: Combined CEO/Chair structure; one late Form 4; large equity plan authorization (dilution potential) — monitor grant pacing and director award sizing versus the $300k cap.