Daniel Ryweck
About Daniel Ryweck
Daniel Ryweck, age 60, has served as Chief Financial Officer of Silo Pharma since September 2022. He holds a B.S. in Accounting from the Carlson School of Management at the University of Minnesota and previously served as Controller and Chief Compliance Officer at Mill City Ventures III Ltd. (NASDAQ: MCVT), a non-bank lender and specialty finance company . Pay-versus-performance disclosures show significant shareholder value declines during the reported period (value of an initial $100 investment based on TSR of $6.19 in 2024 vs. $6.79 in 2023 and $15.83 in 2022) alongside net losses of $(4,392,880) in 2024, $(3,700,683) in 2023, and $(3,908,551) in 2022 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Mill City Ventures III Ltd. (NASDAQ: MCVT) | Chief Compliance Officer | Jun 2014–Dec 2019 | Non-bank lender and specialty finance company context |
| Mill City Ventures III Ltd. (NASDAQ: MCVT) | Controller | Jan 2020–present | Non-bank lender and specialty finance company context |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Mill City Ventures III Ltd. (NASDAQ: MCVT) | Controller | Jan 2020–present | Ongoing finance leadership at specialty finance firm |
Fixed Compensation
| Year | Base Salary ($) | Target Bonus ($) | Actual Bonus ($) | All Other Compensation ($) | Total ($) |
|---|---|---|---|---|---|
| 2024 | 60,000 | Up to 60,000 (per Second Amendment, criteria-based) | 25,000 | 3,600 (benefits incl. 401(k) and health premiums) | 88,600 |
| 2023 | 59,923 | Discretionary bonus eligible | — | 2,769 (benefits incl. 401(k)) | 62,692 |
- Base salary initially set at $42,000 (Sept 2022), increased to $60,000 via amendment on Oct 12, 2022 .
- Second Amendment on Nov 11, 2024 provides annual cash bonus eligibility up to $60,000 if Company meets criteria adopted by the Compensation Committee .
Performance Compensation
| Incentive Type | Metric(s) | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| Annual Cash Bonus (2024) | Criteria adopted by Compensation Committee (not specified) | Not disclosed | Up to $60,000 | Not disclosed | 25,000 (paid) | Not disclosed |
- No performance equity awards reported as outstanding for named executive officers as of 12/31/2024 .
Equity Ownership & Alignment
| Metric | Value |
|---|---|
| Total beneficial ownership (shares) | 5,000 |
| Ownership as % of shares outstanding | <1% (9,461,128 shares outstanding as of record date) |
| Vested vs. unvested shares | No outstanding stock or other equity awards reported for NEOs as of 12/31/2024 |
| Options – exercisable vs. unexercisable | None disclosed for Ryweck |
| Shares pledged as collateral | Not disclosed in proxy materials |
| Stock ownership guidelines | Not disclosed |
| Compliance with ownership guidelines | Not disclosed |
Employment Terms
| Term | Details |
|---|---|
| Appointment & Start Dates | Appointed CFO Sept 27, 2022; employment agreement dated Sept 28, 2022 |
| Term Length & Renewal | Initial term to Sept 28, 2023; automatically renewed to Sept 28, 2025 and auto-renews for successive one-year periods unless terminated |
| Base Salary | $60,000 per annum, payable monthly (amended Oct 12, 2022) |
| Bonus Provisions | Annual discretionary bonus; Second Amendment (Nov 11, 2024) entitles up to $60,000 if Company meets Compensation Committee criteria |
| Severance & CIC | Proxy narrative states, except as described (CEO’s agreement), no compensatory plans or arrangements for NEOs upon termination or change-in-control |
| Equity Plan CIC Treatment | Under Amended & Restated 2020 Plan, awards may become fully vested/exercisable and performance deemed achieved at target at administrator discretion upon change-in-control |
Investment Implications
- Compensation alignment: Ryweck’s cash-heavy pay with low base and modest bonus paid ($25k in 2024) suggests limited direct linkage to specific financial KPIs; absence of outstanding equity awards reduces equity-aligned incentives and scheduled vesting-related selling pressure .
- Ownership: Beneficial ownership is 5,000 shares (<1%), indicating limited “skin in the game” relative to total shares outstanding; no pledging disclosed .
- Retention/contract structure: Auto-renewing agreement through Sept 2025 with successive one-year renewals provides continuity; severance/CIC economics for Ryweck are not disclosed, which may limit contingent liabilities but also reduces clarity on retention protections .
- Performance context: Reported TSR-based value of a $100 investment fell to $6.19 in 2024, alongside continued net losses, underscoring execution and financing risks typical for development-stage enterprises; bonus criteria are committee-defined and not disclosed, limiting visibility into pay-for-performance calibration .