Daniel Friedberg
About Daniel M. Friedberg
Independent director at TransAct Technologies (TACT) since March 30, 2022; age 63. Friedberg is Managing Member of 325 Capital LLC (public equity), CEO of Hampstead Park Capital Management LLC (private equity), and CEO of Roundtrip EV Solutions, Inc. (EV industry). He brings expertise in organizational, financial, operational, M&A, and strategic planning from prior roles at Sagard Capital, Power Corporation of Canada, and Bain & Company; education includes an MBA from Cornell’s Johnson School and a B.S. from the University of Manchester Institute & Technology . The Board has determined he is independent under Nasdaq standards (considering his and 325’s >10% beneficial ownership), and he attended 100% of Board and committee meetings in 2024 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| 325 Capital LLC | Managing Member | Since May 2016 | Public equity investing; brings organizational/financial/M&A expertise to TACT |
| Hampstead Park Capital Management LLC | Chief Executive Officer | Since May 2016 | Private equity investing leadership |
| Roundtrip EV Solutions, Inc. | Chief Executive Officer | Since May 2021 | EV sector operating experience |
| Sagard Capital Partners L.P. | CEO & Managing Partner | 2005–2016 | Led PE investments; board experience pipeline |
| Power Corporation of Canada | Vice President | 2005–2016 | Holding company strategic/financial experience |
| Bain & Company | Partner; Consultant | Partner 1997–2005; Consultant 1987–1991 | Strategy and operational transformation expertise |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Quest Resource Holding Corp. (NASDAQ: QRHC) | Chairman of the Board | Since Apr 2019 | Current public company chair role |
| Multi Sensor AI, Inc. (NASDAQ: MSAI) | Director | Since Jul 2024 | Current public company board |
| Roth CH Acquisition I/II/III/IV (SPACs) | Director | 2020–2023 (various) | Served through business combinations (PCT, Reservoir, QualTek, Tigo Energy) |
| Performance Sports Group Ltd. | Director | Mar–Jul 2016 | Prior public board |
| InnerWorkings, Inc. | Director | Mar 2014–Aug 2016 | Prior public board |
| GP Strategies Corp. | Director | 2009–Aug 2016 | Prior public board |
| X-Rite, Inc. | Director | 2008–2012 | Prior public board |
| USA Field Hockey | Director | Since 2019 | Non-profit board |
Board Governance
- Committee assignments: Audit Committee member (Audit met 5x in 2024); Compensation Committee member (6x); Nominating & Corporate Governance Committee member (4x); Executive Committee member; Strategy Committee member .
- Committee chairs: Audit Chair—Emanuel P. N. Hilario; Compensation Chair—Randall S. Friedman; Nominating Chair—Audrey P. Dunning (Friedberg is not a committee chair) .
- Independence: Board determined Friedberg is independent under Nasdaq and SEC rules (explicitly considering his >10% beneficial ownership via 325) .
- Attendance: Each current director attended 100% of Board and committee meetings in 2024; Board held 8 meetings; independent directors hold regular executive sessions .
- Board structure: Declassification completed in 2025; all directors now elected annually; Board size is six; independent Chair of the Board (Haydee Ortiz Olinger) .
- Risk oversight: Audit oversees financial and cybersecurity risks; Compensation oversees comp-related risk; Nominating oversees independence/conflicts; Strategy Committee oversees long-term strategy and potential transactions .
Fixed Compensation
| Component (Director, FY2024) | Amount/Detail |
|---|---|
| Annual cash retainer | $40,000 |
| Committee/meeting fees | None; company does not separately compensate for committee service |
| Chair premium | Not applicable (Board Chair premium applies to Ms. Olinger) |
| Equity grant (RSUs) | 6,700 RSUs granted 2/29/2024; grant date fair value $45,560; vests 25% per year starting first anniversary |
| Total director compensation (2024) | $85,560 |
Performance Compensation
Directors do not receive performance-based awards; the annual equity grant consists of time-vested RSUs (no metrics). The 2/29/2024 grant vests 25% annually over four years; no options were disclosed for non-employee directors in 2024 .
| Performance Metric | Weight | Target | Actual | Payout |
|---|---|---|---|---|
| Not applicable for director equity (time-vested RSUs) | N/A | N/A | N/A | N/A |
Other Directorships & Interlocks
| Entity | Interlock/Overlap | Governance Relevance |
|---|---|---|
| Quest Resource Holding Corp. (QRHC) | Friedberg is Chairman; TACT director Audrey P. Dunning also serves on QRHC’s board since June 2023 | Board interlock may enhance network/information flow; monitor for potential conflicts if QRHC becomes a customer/supplier/competitor |
| The ONE Group Hospitality, Inc. (STKS) | Not an interlock with Friedberg; other TACT directors (Hilario—CEO; Olinger—director) connected; TACT sells products to The ONE Group (approved by Audit Committee) | Related-party exposure managed under policy; 2024–2023 sales $117k/$246k; not tied to Friedberg |
Expertise & Qualifications
- Capital allocation and investor perspective from leading public/private equity firms (325 Capital, Sagard) .
- Strategy/operations experience from Bain & Company and operating CEO roles, including in EV solutions .
- Public company governance as QRHC Chairman and multiple prior public boards; current audit committee member at TACT (meets financial literacy requirements per Nasdaq) .
- Education: MBA (Cornell Johnson); B.S. (University of Manchester Institute & Technology) .
Equity Ownership
| Measure | Detail |
|---|---|
| Shares beneficially owned | 1,021,764 shares |
| Percent of class | 10.13% (based on 10,080,717 shares outstanding as of April 2, 2025) |
| Ownership structure details | Includes 1,011,789 shares reported by 325 Capital Master Fund and affiliates, for which 325 and its managing members (including Friedberg) share voting/dispositive power; also includes 8,275 shares issued upon vesting of RSUs and 1,700 RSUs scheduled to convert to shares within 60 days after April 2, 2025 . |
| Hedging/pledging | Company Insider Trading Policy prohibits hedging and pledging of Company securities . |
| Section 16 compliance | Company believes all Section 16(a) filing requirements for directors, officers and 10% owners were complied with for FY2024 (and prior years, as previously reported) . |
Governance Assessment
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Strengths
- Independent director with 100% meeting attendance and service across all key committees (Audit/Comp/Nominating/Executive/Strategy), indicating deep engagement and influence on governance and strategic oversight .
- Robust governance frameworks: declassified Board, independent Chair, regular executive sessions, clawback policies (including restatement-based clawback), prohibition on hedging/pledging, and strong 2024 say‑on‑pay support (~90.5%) supporting investor alignment .
- Compensation Committee engages independent consultant (CAP); committee and director independence affirmed under Nasdaq/SEC standards .
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Watch items / potential red flags
- Bold RED FLAG: Dual role as a >10% beneficial owner via 325 and member of the Strategy Committee that oversees long-term strategy and potential transactions; Board expressly considered this in the independence assessment—investors may monitor for perceived activist influence or conflicts in strategic reviews .
- Board interlock with QRHC (Friedberg as Chair; Dunning as director) is noteworthy; while no related-party transactions are disclosed with QRHC, interlocks can raise perceived conflict risks if business ties arise; continue oversight via Audit/Nominating committees .
- Related-party sales are with The ONE Group (linked to other directors); Audit Committee approval and arm’s‑length terms disclosed, but continued monitoring appropriate; no such transactions disclosed for Friedberg .
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Overall implication: Friedberg’s investor/operator skillset and multi-committee service enhance board effectiveness and strategic rigor. His significant ownership aligns incentives but warrants vigilant conflict management, especially given Strategy Committee membership and potential transactional contexts .