John D. Liu
AMKOR TECHNOLOGYAbout John D. Liu
John D. Liu is Executive Vice President, Corporate Development and Strategy at Amkor Technology (appointed November 3, 2025) and previously served as an independent director (appointed December 16, 2024) . He is 56, with finance and M&A leadership spanning Essex Equity Capital Management (CEO since March 2008) and Richmond Hill Investments (Managing Partner since March 2008), following 12 years at Greenhill & Co. as CFO and co-head of U.S. M&A; he has also served as lead independent director of Greenhill and is currently an independent director of Whirlpool Corporation . He holds an MBA from Wharton and a BA in Economics from Harvard . Amkor’s performance metrics used in executive pay emphasize Revenue, Operating Income, and EPS, with 2024 results of Revenue $6,317.7 million, Net Income $355.5 million, and cumulative TSR value of $209.15 for a hypothetical $100 investment .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Essex Equity Capital Management | Chief Executive Officer | Since Mar 2008 | Senior finance and investment leadership across global businesses |
| Richmond Hill Investments | Managing Partner | Since Mar 2008 | Strategic investing and capital allocation oversight |
| Greenhill & Co. | CFO; Co-head U.S. M&A | 12 years | Corporate finance, M&A leadership; legal/regulatory and global business experience |
| Greenhill & Co. | Lead Independent Director | Not specified | Board governance and oversight experience |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Whirlpool Corporation | Independent Director | Current | Public company board experience |
Fixed Compensation
| Year | Fees Earned/Paid in Cash ($) | Stock Awards ($) | Total ($) |
|---|---|---|---|
| 2024 (Director) | 3,503 | 80,131 | 83,634 |
Director equity grant mechanics:
- RSUs for non-employee directors vest in full on the earlier of the first anniversary of grant or the Company’s next annual meeting; dividend-equivalent units accrue and follow the same vesting schedule .
- As of December 31, 2024, Liu held 2,970 unvested RSUs; these were scheduled to vest within 60 days of March 20, 2025 per the ownership table footnote .
Performance Compensation
Amkor’s 2024 Executive Bonus Plan (for NEOs; framework likely applicable to executive officers) used these measures and weights; payouts were formulaic:
| Metric | Weight | Threshold | Target | Maximum | Actual Attainment | Payout Factor |
|---|---|---|---|---|---|---|
| Revenue ($mm) | 35% | 5,800 | 6,500 | 7,000 | 6,318 (74%) | Straight-line to 74% factor |
| Operating Income ($mm) | 35% | 375 | 500 | 600 | 438 (51%) | Straight-line to 51% factor |
| Individual Performance | 30% | 0% | 100% | 200% | 150% | 150% factor |
| Resulting 2024 Bonus (as % of Target) | — | — | — | — | — | 89% across NEOs |
Long-term PSUs granted in 2024 were tied to annual EPS targets and 3-year rTSR vs the SOX; Year 1 EPS PSUs paid out at 83% of target after 2024 EPS of $1.44 (90% of target) . rTSR PSUs earn 50–150% of target with a cap at 100% if absolute rTSR is negative over the period .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total beneficial ownership | 2,970 shares (includes RSUs vesting within 60 days of Mar 20, 2025) |
| Shares outstanding reference | 247,056,288 as of Mar 20, 2025 (Record Date) |
| Ownership as % of outstanding | ~0.0012% (2,970 / 247,056,288), underlying values cited |
| Vested vs unvested | 2,970 RSUs unvested at 12/31/2024 |
| Options outstanding | Not disclosed for Liu (other directors’ option counts provided; Liu not listed) |
| Pledging/Hedging policy | Prohibited for directors, officers, employees (no pledging; no derivatives/shorts) |
| Director stock ownership guideline | 5× annual cash retainer; 5 years to achieve; retain 50% of after-tax shares until met |
| Guideline compliance status | As of 12/31/2024, all non-employee directors met or were in compliance |
Employment Terms
| Topic | Company Policy/Disclosure |
|---|---|
| Executive appointment | Liu appointed EVP, Corporate Development and Strategy effective Nov 3, 2025 |
| Contract term; start date | Start date disclosed; specific contract terms not disclosed |
| Clawback | Company will recoup incentive compensation after restatement; 3-year look-back for executive officers |
| Severance (NEOs, framework) | Double-trigger around Change in Control: CEO 2× base+target bonus and benefits; other NEOs 1.5× base+target bonus and benefits; pro-rata bonus; equity acceleration as described |
| Non-compete / non-solicit | 12-month post-separation non-compete and non-solicit for NEOs (except California); confidentiality and IP assignment obligations |
| Anti-hedging/pledging | No hedging/derivatives; no margin accounts or pledges of Company stock |
Investment Implications
- Pay-for-performance alignment: Executive variable pay is driven by Revenue, Operating Income, and EPS, with long-term PSUs tied to rTSR and EPS; clawback and anti-pledging policies reinforce alignment and reduce red flags .
- Ownership and selling pressure: Liu’s 2024 director RSUs were small (2,970), vesting per director policy; ongoing insider selling pressure is likely immaterial relative to float; monitor Form 4s for any sales post-vesting and any new executive equity grants .
- Retention and incentives: As a newly appointed EVP, Liu’s future compensation details (base, target bonus, equity mix, severance) are not yet disclosed; the Company’s standard executive practices suggest double-trigger CIC protection and performance-oriented equity, which should support retention and strategic execution—watch the next proxy/8-K for specifics .
- Governance and experience: Strong finance/M&A background and current public board experience (Whirlpool) support execution in corporate development; independence, anti-hedging, and ownership guidelines reduce governance risk .