Leonardo Riera
About Leonardo Riera
Independent director of Sidus Space since April 2023; age 64 as of April 28, 2025. Career spans 35+ years in investment banking and fund management (Bankers Trust Caracas Country Head; Citicorp Investment Bank M&A Head) and operating roles (President of LiNiCo Corp since April 2022; board/Chief Strategy Officer at Vaya Space since March 2023). Education: Economics (Universidad Católica Andrés Bello) and MBA (Wharton). Served as Board Chairman from September 2023 to July 2024; currently an independent director with committee roles across Audit, Compensation, and Nominating & Governance .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Bankers Trust (Caracas, Venezuela) | Executive Director, Country Head | Over 10 years | Led country operations; senior banking leadership |
| Citicorp Investment Bank (Caracas) | Head of M&A | Not disclosed | Led dealmaking; strategic finance |
| McKinsey & Co. | Consultant | 1984–1986 | Strategy consulting foundation |
| EnviroPower Renewable, Inc. | Co-founder, CEO, Chairman | 2012–2018 | Built renewable energy venture |
| International Banking Association of Venezuela | President | Three terms (dates not disclosed) | Industry leadership, policy influence |
| Emerging Market Debt Fund (Florida) | Head of Asset Structuring & Credit | Not disclosed | Managed $2B across global EM portfolio |
| Latin American Advisors Inc. | Owner & CEO | Since 1988 | M&A, PE, strategic advisory firm leadership |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| LiNiCo Corporation (subsidiary of Comstock Mining Inc., NYSE: LODE) | President | Since April 2022 | Renewable energy/products; corporate leadership |
| Vaya Space (private) | Board Member; Chief Strategy Officer | Since March 2023 | Strategy; industry ties. Note: Carol Craig (Sidus CEO/Chairwoman) is also a director of Vaya Space (interlock) |
| FenixOro Gold Corp (FENX.CN) | Director; Audit Committee Chair | Since January 2021 | Audit leadership; governance oversight |
| Medicine Man Technologies, Inc. (OTCQX: SHWZ) | Director; Audit, Nominating & Governance, Compensation Committees | June 2019–January 2021 | Multi-committee governance experience |
Board Governance
| Item | 2023 (as of Dec 31, 2023) | 2024 (as of Dec 31, 2024) |
|---|---|---|
| Independence status | Independent director | Independent director |
| Board leadership | CEO: Carol Craig; Chair: Leonardo Riera | CEO/Chairwoman: Carol Craig; Lead Independent Director: Jeffrey Shuman (since Feb 2025) |
| Audit Committee | Kilborne, Oliver, Riera (Chair: Kilborne) | Kilborne, Oliver, Riera, Shuman (Chair: Kilborne) |
| Compensation Committee | Kilborne, Oliver, Riera (Chair: Riera) | Shuman, Oliver, Riera, Coffey (Chair: Shuman) |
| Nominating & Governance Committee | Kilborne, Oliver, Riera (Chair: Oliver) | Kilborne, Oliver, Riera, Coffey (Chair: Coffey) |
| Board meetings held | 11 | 6 |
| Committee meetings | Audit: 4; Comp: 0; N&G: 1 | Audit: 7; Comp: 0; N&G: 2 |
| Attendance | All directors attended every Board meeting (100%) | All directors attended every Board meeting (100%) |
- Riera’s engagement: Member of all three key committees in 2024; chaired Compensation in 2023; served as Board Chairman Sep 2023–Jul 2024 .
- Executive sessions policy not detailed; general governance guidelines published on Sidus’ IR site .
Fixed Compensation
| Component ($) | FY 2023 | FY 2024 |
|---|---|---|
| Fees Earned or Paid in Cash | 47,500 | 79,167 |
| All Other Compensation | 37,833 | 39,167 |
| Total | 85,333 | 118,334 |
- Note: Footnote indicates Riera served as Chairman of the Board from September 2023 through July 2024 (likely driving higher cash fees in 2024) .
Performance Compensation
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Annual equity grant (RSUs/DSUs/shares) | Not disclosed in director comp table | Not disclosed in director comp table |
| Option awards (number/terms) | Not disclosed for directors | Not disclosed for directors |
| Performance-linked metrics (TSR, revenue, EBITDA, ESG) | Not disclosed for directors | Not disclosed for directors |
The DEF 14A director compensation sections list cash and “all other” compensation but do not detail equity grants or performance metrics for non-employee directors in 2023–2024 .
Other Directorships & Interlocks
| Company | Public/Private | Role | Tenure | Potential Interlock/Conflict Notes |
|---|---|---|---|---|
| LiNiCo Corp (Comstock Mining subsidiary) | Public parent (NYSE: LODE) | President | Since Apr 2022 | No Sidus transactions disclosed involving LiNiCo/LODE |
| Vaya Space | Private | Director; Chief Strategy Officer | Since Mar 2023 | Interlock: Carol Craig (Sidus CEO/Chairwoman) is a Vaya Space director |
| FenixOro Gold Corp (FENX.CN) | Public (Canada) | Director; Audit Chair | Since Jan 2021 | Independent audit leadership |
| Medicine Man Technologies (OTCQX: SHWZ) | Public (US) | Director; Audit, N&G, Comp member | Jun 2019–Jan 2021 | Prior multi-committee experience |
Expertise & Qualifications
- Finance and governance: 35+ years across investment banking, fund management, and audit/compensation oversight .
- Education: Economics (Universidad Católica Andrés Bello) and MBA (Wharton) .
- Sector breadth: Renewable energy, aerospace/defense (Vaya Space), mining (FenixOro/LODE) .
- Audit leadership credentials: Audit chair at FenixOro; Audit Committee member at Sidus .
Equity Ownership
| Beneficial Ownership (Record Date: Apr 28, 2025) | Class A Shares | Class B Shares | Notes |
|---|---|---|---|
| Leonardo Riera | None reported (“-”) | None reported (“-”) | Not listed among >5% holders; no individual holdings disclosed |
- Pledging/hedging: No pledging or hedging by Riera disclosed; related-party transactions section lists no Riera-related transactions .
Governance Assessment
- Independence and oversight: Board determined Riera is independent under Nasdaq and SEC rules; he serves on Audit, Compensation, and Nominating committees, indicating strong governance involvement .
- Attendance: 100% Board attendance in 2024 (and 2023); Audit met more frequently in 2024 (7x), while Compensation met 0x, which merits monitoring of compensation oversight cadence .
- Leadership transitions: Riera served as Board Chairman Sep 2023–Jul 2024; governance structure shifted to CEO/Chairwoman with a Lead Independent Director in Feb 2025—an improvement in independent oversight construct versus combined CEO/Chair, depending on LID efficacy .
- Ownership alignment: No beneficial share ownership reported for Riera as of the 2025 record date; director pay appears primarily cash-based with “all other” compensation; absence of disclosed equity grants reduces direct alignment via stock ownership .
- Interlocks and potential conflicts: Shared involvement with Vaya Space (Riera as CSO/director; Craig as director) is an interlock that could create perceived conflicts if commercial dealings arise; Sidus discloses significant related-party transactions with Craig Technical Consulting (lease, services, financing), but none involving Riera .
- Auditor oversight context: Audit Committee (including Riera) oversaw transition from BF Borgers to Fruci after the SEC’s May 3, 2024 order impacting BF Borgers; 2024 audit/re-audit fees increased accordingly, reflecting remediation and governance engagement .
RED FLAGS
- Compensation Committee met 0 times in 2024—low cadence could signal reduced active oversight of pay practices; track 2025 activity .
- Interlock with Vaya Space (Riera and Craig) increases potential perceived conflict risk if transactions occur; currently, no such related-party transactions disclosed .
- No reported equity ownership by Riera—lower “skin-in-the-game” alignment compared to directors with meaningful holdings .
Notes on Related-Party Exposure (Company-wide)
Sidus maintains ongoing related-party arrangements with Craig Technical Consulting, Inc. (CTC)—office sublease, advances, revenue subcontracting, professional services, and historical financing; these are overseen under a formal related-person transaction policy via the Audit Committee .