Jin Jo
About Jin Jo
Jin Jo is Chief Financial Officer of Ascent Solar Technologies (ASTI), age 47 as of April 30, 2025; she joined Ascent in June 2021 as Financial Controller and was appointed CFO in May 2023. She is a CPA in Colorado and holds a B.S. in Business Administration from the University of Colorado Boulder, with over 20 years of accounting experience including roles at Empower Retirement (head of technical accounting), the PCAOB (Inspection Specialist), and 11 years in Big Four audit and assurance . Company disclosures indicate compensation is not directly tied to net income, and that compensation actually paid tracked positively with cumulative TSR from 2023 to 2024 . Jin also executed a certificate amendment as Corporate Secretary in May 2025, evidencing corporate officer responsibilities beyond finance .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Ascent Solar Technologies | Financial Controller | Jun 2021–May 2023 | Internal finance leadership prior to CFO appointment |
| Empower Retirement | Head of Technical Accounting | 2015–2021 | Led accounting research for complex products, transactions; implemented new standards under IFRS, US GAAP, and insurance SAP |
| Public Company Accounting Oversight Board (PCAOB) | Inspection Specialist | 2011–2015 | Assessed auditor compliance with professional standards |
| Big Four Public Accounting | Audit and Assurance | 11 years | Served public and private companies in audit/assurance |
External Roles
No external public-company board or committee roles disclosed for Jin Jo in the company’s proxy filings .
Fixed Compensation
| Metric | 2023 | 2024 |
|---|---|---|
| Base Salary Rate (Employment Agreement) ($) | $225,000 | $255,000 |
| Salary Paid ($) | $198,000 | $243,500 |
| Target Bonus % of Base | 60% | 60% |
| Actual Bonus Paid ($) | $45,000 | $60,000 |
Performance Compensation
Annual Incentive Bonus Structure and Payouts
| Component | 2023 | 2024 |
|---|---|---|
| Target Structure | Up to 60% of base salary if agreed bonus targets achieved | Up to 60% of base salary if agreed bonus targets achieved |
| Actual Payout ($) | $45,000 | $60,000 |
| Performance Metrics | Not specified in filings; compensation program not directly tied to net income | Not specified in filings; compensation program not directly tied to net income |
RSU Grants (CFO)
| Grant Date | # RSUs | Grant-Date Fair Value per RSU ($) | Vesting Schedule |
|---|---|---|---|
| Jan 2024 | 425 | $77 | 1/3 vested Mar 31, 2024; 1/3 vested Jan 1, 2025; 1/3 vests Jan 1, 2026 |
Stock Options (CFO)
| Grant Date | Options (#) | Strike ($) | Expiration | Vesting Schedule |
|---|---|---|---|---|
| Aug 2024 | 11,500 | $4.15 | Aug 20, 2034 | 1/3 vested Sep 15, 2024; 1/3 vests Aug 21, 2025; 1/3 vests Aug 21, 2026 |
Equity Ownership & Alignment
Beneficial Ownership (as of April 30, 2025)
| Holder | Shares Beneficially Owned | Percentage of Outstanding |
|---|---|---|
| Jin Jo | 8,163 | * |
| Shares outstanding reference (for context) | 1,715,442 | — |
Outstanding Equity Awards (Fiscal Year-End 2024)
| Metric | Value |
|---|---|
| Options Exercisable (#) | 3,834 |
| Options Unexercisable (#) | 7,666 |
| Option Exercise Price ($/sh) | $4.15 |
| Option Expiration Date | 8/20/2034 |
| Unvested RSUs (#) | 283 |
| Market Value of Unvested RSUs ($) | $925 |
- Insider trading program and pledging: Company policy prohibits derivative transactions; 2024 disclosures note none of the directors or executive officers (including CFO) had Rule 10b5-1 plans in effect . Section 16(a) compliance indicates Jin Jo filed one late Form 4 in 2024 .
- Ownership guidelines: Not disclosed for executives in available filings.
Employment Terms
- Role and tenure: CFO since May 2023; executive officer per proxy . Jin also signed corporate instruments as Secretary in May 2025 .
- Contract term: CFO employment agreement effective April 17, 2023, term through December 31, 2025 .
- Cash compensation: Base salary $225,000, increased to $255,000 in May 2024; one-time bonus $45,000 (2023) and $60,000 (2024) .
- Annual incentive eligibility: Up to 60% of base salary, contingent on agreed bonus targets .
- Severance and change-in-control: If terminated without cause, for good reason, or upon a change in control, entitled to half of base salary amount then in effect for the remainder of the agreement term .
- Clawback: Company established a compensation clawback policy effective December 1, 2023 (Exhibit 97), with Audit Committee noting no performance-based comp in prior three years tied to reported financial results requiring recovery .
Investment Implications
- Upcoming vesting events may create mechanical selling pressure: RSUs vest remaining tranche on Jan 1, 2026; options vest on Aug 21, 2025 and Aug 21, 2026, which are typical windows for potential liquidity needs and Form 4 activity . Absence of Rule 10b5-1 plans in 2024 suggests sales, if any, may be event-driven rather than pre-programmed .
- Alignment through equity: Beneficial ownership of 8,163 shares plus outstanding equity awards creates modest alignment; options expiring in 2034 with multi-year vest add retention hooks through 2026 .
- Cash vs equity mix shifted favorably in 2024: Unlike 2023, 2024 included RSU and option grants alongside increased salary and a higher one-time bonus, strengthening long-term incentives while maintaining near-term cash stability .
- Severance economics lower immediate departure risk: Half-of-base-salary severance for termination scenarios through end of term, combined with remaining vesting schedules, supports retention at least through December 31, 2025 .
- Pay-for-performance linkage is limited: Company notes executive compensation is not directly tied to net income; however, CAP moved with TSR from 2023 to 2024, indicating some directional alignment with shareholder returns despite limited explicit metric linkage .
Sources and Administrative Notes
- CFO bio, age, education, tenure: Proxy Statement dated April 30, 2025 .
- Compensation details (salary, bonus, RSUs, options) and outstanding awards: Proxy Statement dated April 30, 2025 .
- Beneficial ownership: Proxy Statement dated April 30, 2025 with shares outstanding context .
- Clawback policy, Rule 10b5-1 plan status: Company disclosures .
- Section 16(a) compliance/lateness: Proxy Statement dated April 30, 2025 .
- Officer responsibilities and corporate actions: Certificate amendment executed by Secretary (Jin Jo), May 2025 .
- CFO role confirmation and contact: Corporate updates and 8-K signatories .