Eugene Jiang
About Eugene Jiang
Eugene Jiang, 38, serves as Chairman of the Board and Chief Business Officer (CBO) of ABVC. He previously served as CEO and President from company inception (July 2015) until September 15, 2017, and has been CBO since September 1, 2019; he was also appointed CFO of AiBtl on March 13, 2025. Education: PMBA (National Taiwan University, 2017), EMBA (University of Texas in “Arrington,” 2010), B.S. Physical Education (Fu-Jen Catholic University, 2009) . Company performance context: ABVC revenue increased 234% to $509,589 in 2024 (from $152,430 in 2023), with net loss improving 36% to $(5.26)M; through nine months 2025, revenue rose 57% year over year to $795,950, while the company remained loss-making .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| ABVC BioPharma | CEO & President | Jul 2015 – Sep 15, 2017 | Led company from inception; transitioned to non-CEO leadership thereafter |
| ABVC BioPharma | Chairman of the Board | 2015 – Present | Board oversees risk management; ABVC maintains separate CEO and Chair roles |
| ABVC BioPharma | Chief Business Officer | Sep 1, 2019 – Present | Appointed for a 3-year term; re-elected/renewed in 2022 for another 3-year term |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| AiBtl | Chief Financial Officer | Mar 13, 2025 – Present | Appointment disclosed in ABVC proxy |
| BioKey, Inc. (subsidiary) | Chief Business Officer | 2019 – Present | ABVC subsidiary role complements corporate CBO |
| BioLite Incorporation | Director | Since Jun 2015 | Board role |
| BioFirst Corp. | Director | Since 2012 | Board role |
| Genepro Investment Company | CEO | Since Mar 2010 | Leadership of external investment company |
Fixed Compensation
| Metric | 2023 | 2024 |
|---|---|---|
| Base Salary ($) | 200,000 | 200,000 |
| Target Bonus (%) | — (not disclosed) | — (not disclosed) |
| Actual Bonus ($) | — | — |
| All Other Cash ($) | — | — |
| Total Cash ($) | 200,000 | 200,000 |
Summary Compensation totals reflect equity; see Performance Compensation table below .
Performance Compensation
- Pay design: Company states no material cash bonus or profit-sharing plans; share options may be granted at Board discretion; no specific performance metrics disclosed for executive bonuses .
- Equity award timing safeguards: Board policy avoids option-like grants 4 business days before/1 business day after MNPI filings (10-Q/10-K/8-K) .
Stock awards (grant-date fair value):
| Equity Type | 2023 | 2024 |
|---|---|---|
| Stock Awards ($) | — | 215,244 |
| Option Awards ($) | — | — |
| Total Equity ($) | — | 215,244 |
| Total Compensation ($) | 200,000 | 415,244 |
Outstanding option awards (as of Dec 31, 2024):
| Grant/Block | Exercisable (#) | Unexercisable (#) | Strike ($) | Expiration | Vesting Notes |
|---|---|---|---|---|---|
| Nov 20, 2031 block | 7,242 | 1,219 | 20.00 | Nov 20, 2031 | Schedule not detailed; unexercisable portion remains |
| Oct 15, 2032 block | 3,000 | — | 30.00 | Oct 15, 2032 | — |
| Apr 16, 2033 block | 15,238 | — | 30.00 | Apr 16, 2033 | Company granted director options on Apr 16, 2022 that vested at grant (10-year term) |
Equity Ownership & Alignment
Beneficial ownership of ABVC common stock:
| Record Date | Shares Beneficially Owned | Percent of Class |
|---|---|---|
| Mar 15, 2023 | 702,246 (via AsianGene 673,189; BioFirst 3,743; Rgene 121; direct 25,173) | 2.3% |
| Mar 12, 2024 | 147,373 (direct) | 1.4% |
| Apr 11, 2025 | 131,159 (direct) | <1% |
Additional alignment factors:
- Sole voting control over YuanGene Corporation’s ABVC shares: Eugene Jiang has sole voting control over YuanGene-held shares; YuanGene owned 8,296,968 shares (25.1%) as of Mar 15, 2023 and 829,699 shares (5.3%) as of Apr 11, 2025 (reverse-split adjusted), amplifying his voting influence beyond his economic holdings .
- Pledging/hedging: Beneficial ownership sections reviewed do not indicate any pledged shares or hedging arrangements for Eugene Jiang; no stock ownership guideline disclosure identified for executives in the cited filings .
Employment Terms
| Term | Detail |
|---|---|
| CBO Appointment | Appointed effective Sep 1, 2019 for a 3-year term; reelected/renewed in 2022 for another 3-year term (through ~Aug 2025) |
| Employment Agreement | Specific CBO agreement terms (severance/COC) for Eugene not disclosed in cited filings; company details agreements for other executives (e.g., 12 months salary severance for certain roles) |
| Equity Plan | Amended & Restated 2016 Equity Incentive Plan; options granted Apr 16, 2022 to directors fully vested at grant, 10-year term |
| Award Timing Policy | No grants 4 business days before/1 business day after MNPI filings; Board to evaluate if option grants are made |
| Clawback (402(w)) | Company reports no recovery of erroneously awarded compensation required in the last completed fiscal year |
Board Governance
- Structure: ABVC separates CEO and Chairman roles; the Board oversees risk management with management handling day-to-day risk .
- Jiang’s board role: Chairman of the Board and management executive (CBO); he is not identified as an “independent director” and is not listed on board committees .
- Committees (independent directors):
- Compensation: Norimi Sakamoto (Chair), Hsin-Hui Miao, Che-Wei Hsu .
- Audit: Yen-Hsin Chou (Chair; audit committee financial expert), Hsin-Hui Miao, Che-Wei Hsu .
- Corporate Governance & Nominating: Yoshinobu Odaira (Chair), Hsin-Hui Miao, Che-Wei Hsu .
- Director equity grants: No director stock options were paid in fiscal 2024; director option grants noted in 2022 .
Related Parties and Interlocks
- YuanGene Corporation ownership structure: YuanGene is wholly owned by Lion Arts (owned 80% by Shu-Ling Chiang and 20% by Dr. Tsung‑Shann Jiang); YuanGene appointed Eugene Jiang to have sole voting control of its ABVC shares .
- Rgene related-party services: BioKey (subsidiary) entered a Clinical Development Service Agreement with Rgene on Jun 10, 2022; auto-renews; up to $3.0M payable over 3 years upon milestones .
- Concurrent appointments: As of Mar 13, 2025, Eugene Jiang became AiBtl CFO; T.S. Jiang (CSO/CSTRO) also appointed to AiBtl; CEO Uttam Patil appointed AiBtl co-CEO .
Performance Context (Company-level)
| Metric | 2023 | 2024 | Notes |
|---|---|---|---|
| Revenue ($) | 152,430 | 509,589 | +234% YoY; out-licensing activity in 2024 |
| Net Loss ($) | (8,280,844) | (5,259,037) | Improvement of 36% YoY |
| 9M Revenue ($) | 507,623 (2024) | 795,950 (2025) | +57% YoY; still net losses |
Investment Implications
- Control and governance: Jiang’s dual role (Chairman + CBO) plus sole voting control over YuanGene’s significant stake concentrates influence and may reduce effective board independence; monitor committee oversight and any related-party decisions given cross-entity roles .
- Pay-for-performance alignment: Cash salary stable ($200k) with equity-heavy 2024 compensation (stock awards $215k) but no disclosed quantitative performance metrics tied to incentive pay; equity plan includes fully vested director option grants (Apr 2022), which can weaken retention incentives versus multi-year vesting .
- Retention and selling pressure: Options outstanding through 2031–2033 at strikes $20–$30 could limit near-term monetization if out-of-the-money; 2024/2025 filings do not disclose bonus plans or new option awards to Jiang, suggesting limited near-term vesting events. Beneficial ownership reported directly by Jiang declined versus 2023, but his voting control via YuanGene remains a key lever; monitor Form 4 filings for actual selling pressure (not provided in cited filings) .
- Related-party exposure: Ongoing relationships (e.g., Rgene services; overlapping roles at subsidiaries and affiliates) create potential conflicts requiring strong independent committee oversight; compensation and governance committees are fully independent, which partially mitigates risk .