Q4 2026

Advisory Council

Independent oversight ensuring methodology rigor, analyst independence, and continuous improvement of the Lodestar Protocol.

Governance Through Expertise

The Advisory Council brings together leaders from regulation, institutional investing, academia, and valuation practice to provide independent oversight of Lodestar's methodology and operations.

In an industry where conflicts of interest are pervasive, independent governance is essential. The Council ensures that our methodology remains rigorous, our analysts remain independent, and our outputs remain trustworthy.

Council Responsibilities

Key areas of oversight and governance.

Methodology Review

Annual review of the Lodestar Protocol and any material methodology changes.

Independence Oversight

Ensuring analyst independence and addressing potential conflicts of interest.

Quality Assurance

Periodic review of valuation outputs and outcome tracking accuracy.

Stakeholder Input

Gathering feedback from clients, issuers, and market participants.

Council Composition

Diverse expertise across regulation, investing, academia, and practice.

Dr. Sarah Chen

Council Chair

Former SEC Division of Corporation Finance

Expertise: Securities regulation, disclosure standards

Michael Torres

Council Member

Former CIO, $50B institutional allocator

Expertise: Private market investing, portfolio construction

Dr. James Wright

Council Member

Professor of Finance, Stanford GSB

Expertise: Valuation theory, market microstructure

Patricia Nakamura

Council Member

Former Partner, Big Four valuation practice

Expertise: Fair value measurement, audit standards

Full biographies and Council charter available upon request.

GOVERNANCE

Quarterly Reviews

The Council meets quarterly to review methodology updates, outcome tracking results, and operational matters. Meeting summaries are published to maintain transparency with stakeholders.

4

Meetings per year

100%

Independent members

Public

Summary publication