Trent D. Davis
About Trent D. Davis
Trent D. Davis, 57, has served as an independent director of Senmiao Technology Limited (AIHS) since March 21, 2018. He is currently the Chief Executive Officer of Paulson Investment Company, LLC, a boutique investment firm, and serves as a director of INVO Bioscience (OTC: INVOD). He holds a B.S. in Business and Economics from Linfield College and an M.B.A. from the University of Portland. His background spans capital markets, public-company transactions and board leadership, with prior roles including vice chair/lead director, chairman, lead independent director, and audit committee service at multiple public companies .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Eastside Distilling (Nasdaq: EAST) | Vice Chairman and Lead Director | Sep 2016 – Aug 2019 | Board leadership |
| Dataram Corporation (Nasdaq: DRAM) | Lead Independent Director | Jul 2015 – Apr 2017 | Led through reverse merger to U.S. Gold Corp (Nasdaq: USAU) |
| Majesco Entertainment (Nasdaq: COOL) | Chairman of the Board | Dec 2014 – Jul 2015 | Board leadership |
| Paulson Capital Corp. (Nasdaq: PLCC) | President and Director | Nov 2013 – Jul 2014 | Completed reverse merger with VBI Vaccines (Nasdaq: VBIV) |
| VBI Vaccines (Nasdaq: VBIV) | Director; Audit Committee member | Until May 2016 | Post-merger board and audit committee service |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Paulson Investment Company, LLC | Chief Executive Officer | Current | Boutique investment firm focused on private equity offerings for small/mid-caps |
| INVO Bioscience (OTC: INVOD) | Director | Current | Medical device company focused on infertility treatment |
Board Governance
- Independence: The board determined Mr. Davis is independent under Nasdaq rules .
- Committees:
- Audit Committee: Member (Chair: Sichun Wang) .
- Compensation Committee: Member (Chair: Xiaojuan Lin) .
- Nominating & Corporate Governance Committee: Member (Chair: Xiaojuan Lin) .
- Attendance and engagement:
- FY ended March 31, 2024: Board held 1 meeting; Audit 4 meetings; Compensation 1; Nominating & Corporate Governance 0 .
- Each director attended ≥75% of aggregate board and committee meetings on which they served .
- Board leadership: CEO Xi Wen serves as Chair; no Lead Independent Director; independent directors hold regularly scheduled sessions .
Fixed Compensation
| Component | FY Ended Mar 31, 2024 | Policy/Notes |
|---|---|---|
| Annual retainer (cash) | $40,000 | Mr. Davis receives $40,000 annual retainer (vs. $20,000 for other non-exec directors) for FY2025, FY2024, FY2023; company expects to settle payment by December 2025 |
| Committee chair fees | N/A | Not disclosed; Mr. Davis is not a committee chair |
| Meeting fees | N/A | Not disclosed |
Performance Compensation
- Equity awards structure for directors: As of March 31, 2024, the company disclosed accumulated RSUs to directors and noted no RSUs were issued to directors during FY2024; vested RSUs are expected to be settled by issuance of common shares by December 2025 .
- No performance metrics or option awards for directors were disclosed for FY2024 .
| Equity Instrument | Grant/Status | Detail |
|---|---|---|
| RSUs to directors | Outstanding; no new FY2024 grants | Company disclosed accumulated RSUs to directors; 2,273 vested but not settled; expected settlement by Dec 2025 |
| Options | Not disclosed | No option awards disclosed for directors in FY2024 |
Other Directorships & Interlocks
| Company | Listing | Role | Potential Interlock/Conflict Considerations |
|---|---|---|---|
| INVO Bioscience | OTC: INVOD | Director (current) | None disclosed with AIHS |
| Paulson Investment Company, LLC | Private | CEO (current) | As CEO of an investment firm, related-party considerations would arise if Paulson transacted with AIHS; proxy’s related-party section does not identify Paulson |
| Eastside Distilling | Nasdaq: EAST | Vice Chairman and Lead Director (former) | Historical; no interlocks disclosed |
| Dataram / U.S. Gold Corp | Nasdaq: DRAM/USAU | Lead Independent Director; assisted reverse merger (former) | Historical; no interlocks disclosed |
| Majesco Entertainment | Nasdaq: COOL | Chairman (former) | Historical; no interlocks disclosed |
| VBI Vaccines | Nasdaq: VBIV | Director; Audit Committee (former) | Historical; no interlocks disclosed |
Related-party transactions disclosed by AIHS included office leases with (i) a supervisor/shareholder and (ii) Hunan Dingchentai (where an independent director serves as legal representative/general manager); Mr. Davis is not identified in these transactions .
Expertise & Qualifications
- Capital markets and public company governance: CEO experience at Paulson Investment Company; led/participated in reverse mergers and board leadership across multiple issuers .
- Finance and operational leadership: Deep knowledge of finance, advisory and executive management; prior syndication oversight for ~$600 million across >50 transactions .
- Education: B.S. Business & Economics (Linfield College); M.B.A. (University of Portland) .
Equity Ownership
| Holder | Beneficial Ownership (Shares) | Nature of Ownership | % of Outstanding |
|---|---|---|---|
| Trent D. Davis | 5,349 | Underlying 5,349 RSUs; 455 RSUs vested but shares not issued as of proxy date | <1% (asterisked “less than 1%”) |
- Shares outstanding as of record date: 10,518,040 .
- Director/Officer group (7 individuals): 140,748 shares (1.3%) .
Governance Assessment
- Strengths
- Independence and committee breadth: Mr. Davis is independent and serves on all three key committees, supporting robust board oversight .
- Experience fit: Significant capital markets and public-company restructuring experience aligns to AIHS’s financing and strategic needs .
- Attendance: Directors met the ≥75% threshold across board/committee meetings in FY2024, indicating baseline engagement .
- Watch items / potential red flags
- Board activity level: Only one board meeting held in FY2024, which is low and may limit oversight; Nominating & Governance Committee held no meetings in FY2024 .
- Compensation settlement timing: Company expects to settle director retainers and vested RSUs by December 2025, suggesting cash management constraints; monitor for delays (RED FLAG) .
- Structural independence: No Lead Independent Director; CEO also serves as Chair—independent director-only sessions occur but leadership concentration persists .
- Related-party environment: Company discloses related-party leases (not involving Mr. Davis); continued reliance on related parties requires vigilant audit oversight .
No “certain legal proceedings” involving directors were disclosed for the past ten years, and no delinquent Section 16(a) reports were noted for FY2024 .
Appendix: Director Compensation (FY2024)
| Director | Fees Earned or Paid in Cash ($) | Stock Awards | Option Awards | Non-Equity Incentive Comp | All Other Comp | Total ($) |
|---|---|---|---|---|---|---|
| Trent D. Davis | 40,000 | — | — | — | — | 40,000 |
- Policy: $20,000 annual retainer for non-executive directors; Mr. Davis receives $40,000 for FY2025, FY2024, FY2023; reimbursements for reasonable, pre-approved expenses; company expects to settle payments by December 2025 .
- RSUs: Company disclosed accumulated director RSUs with partial vesting; no RSUs issued to directors in FY2024; settlement of vested RSUs expected by December 2025 .