Sudhindra Kankanwadi
About Sudhindra Kankanwadi
Sudhindra Kankanwadi (age 54) is an independent director of Stardust Power Inc. (SDST) since July 2024, serving as Chair of the Audit Committee and a member of the Nominating & Corporate Governance Committee . He is Senior Vice President Finance and Chief Accounting Officer at Synopsys, Inc. (since 2015), a Fellow Chartered Accountant (India), a licensed CPA (California), and a lecturer in advanced accounting at UC Santa Cruz, with prior audit/advisory experience at KPMG and participation on an AICPA software industry task force for revenue recognition guidance .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Synopsys, Inc. | SVP Finance & Chief Accounting Officer | 2015–present | Scaled shared services, implemented finance tech platforms, led digital finance strategy |
| AICPA (software industry task force) | Member | Not disclosed | Contributed to implementation guides for new revenue rules |
| KPMG (US & India) | Audit/Advisory | Earlier career (years not disclosed) | Led audit/advisory teams for large multinationals; IPO listing work; global methodology development |
External Roles
| Organization | Role | Tenure/Status | Notes |
|---|---|---|---|
| Synopsys, Inc. | SVP Finance & Chief Accounting Officer | 2015–present | Financial leadership; digital finance transformation |
| University of California, Santa Cruz | Lecturer (Advanced Accounting) | Active | Academic engagement |
| Other public company boards | None disclosed | N/A | Proxy notes directors had no other registered company directorships in last five years unless disclosed; none listed for Kankanwadi |
Board Governance
- Independence: Board determined Kankanwadi is independent under SEC/Nasdaq rules .
- Committee assignments and chair roles: Audit Committee Chair; Nominating & Corporate Governance Committee member; designated “audit committee financial expert” by the Board .
- Attendance: In 2024 post-Business Combination, Board met 1x; Audit 2x; Governance 1x; Compensation 1x; all directors attended ≥75% of meetings of the Board/committees on which they served .
- Board leadership: CEO serves as Chair; no Lead Independent Director elected as of Dec 31, 2024 .
| Committee | Role | Notes |
|---|---|---|
| Audit Committee | Chair | Financially literate; designated audit committee financial expert |
| Nominating & Corporate Governance Committee | Member | Oversees governance processes and succession planning |
Fixed Compensation
| Component (FY 2024) | Amount | Detail |
|---|---|---|
| Cash fees | $20,000 | Board/committee service compensation approved Sept 2024 |
| Stock awards (RSUs grant-date fair value) | $109,519 | RSUs for non-employee directors; service-based vesting |
| RSUs outstanding (as of 12/31/2024) | 9,425 unvested units | Each RSU converts to 1 share of common stock subject to continued service through the 2025 AGM or June 15, 2025 (whichever earlier) |
Performance Compensation
| Performance Metric | Applicability to Director Awards | Vesting/Measurement |
|---|---|---|
| Performance-linked metrics (e.g., EBITDA, TSR) | None disclosed for director awards | Director RSUs are time/service-based (no disclosed performance hurdles) |
Other Directorships & Interlocks
| Company | Role | Committee Roles | Potential Interlock/Conflict |
|---|---|---|---|
| None disclosed | — | — | No public company board interlocks disclosed for Kankanwadi; Audit Committee reviews related-party transactions per charter |
Expertise & Qualifications
- Financial reporting and controllership expertise as CAO at Synopsys; digital finance platform implementation, shared services scaling .
- Fellow Chartered Accountant (India), CPA (California) .
- AICPA software industry task force participation on revenue recognition guidance .
- Board-designated audit committee financial expert .
- Academic lecturer (advanced accounting) at UC Santa Cruz .
Equity Ownership
| Category | Detail |
|---|---|
| Beneficial ownership (as of 4/25/2025) | Not listed with a share count; “—” in the beneficial ownership table (below 5% and no exercisable securities within 60 days) |
| Unvested director RSUs (12/31/2024) | 9,425 RSUs (service vest through 2025 AGM or June 15, 2025) |
| Hedging/Pledging | Company Insider Trading Policy prohibits hedging/monetization transactions; no pledging disclosed for Kankanwadi |
| Ownership guidelines | Not disclosed for directors; equity plan details provided for company-wide RSUs/PSUs and plan share pool |
Insider Trades (filings)
| Date | Filing | Summary |
|---|---|---|
| 09/20/2024 | Form 4 | Form 4 filed for Sudhindra Kankanwadi as director; transaction details filed via SDST investor site and SEC EDGAR |
Governance Assessment
- Strengths
- Deep finance, audit, and accounting expertise; designated audit committee financial expert—well-suited to chair Audit amid de-SPAC transition and evolving controls .
- Independent status; strong committee engagement with ≥75% meeting attendance; Audit Committee charter covers auditor oversight, controls, whistleblowing, and related-party review .
- Policies: Clawback policy adopted per SEC/Nasdaq; insider policy bans hedging/monetization—positive alignment/discipline signals .
- Weaknesses / Watch items
- Ownership alignment appears limited: no disclosed beneficial shareholdings as of April 25, 2025; director equity exposure is via unvested RSUs (service-based), reducing “skin-in-the-game” versus material common share ownership .
- Board leadership concentration: CEO also serves as Chair; no Lead Independent Director as of year-end 2024—monitor effectiveness of independent oversight .
- Enterprise-level listing risk context (Nasdaq compliance challenges, reverse split/warrant approval proposals) increases need for robust audit/risk oversight led by the Audit Chair; not a personal red flag but heightens governance demands .
RED FLAGS: None disclosed specific to Kankanwadi regarding related-party transactions, legal proceedings, pledging/hedging, or attendance shortfalls; Audit Committee charter requires recusal on related-party reviews where conflicted .