Gan Kim Hai
About Gan Kim Hai
Gan Kim Hai, age 57, serves as Chief Executive Officer and a director of AlphaTime Acquisition Corp (ATMC). He was appointed CEO and Class II director on March 18, 2025, with his director term expiring at the company’s second annual meeting of shareholders . His background includes managing the Malaysian office of Risesun Group with responsibility for business development and market expansion since 2016, and earlier serving as IT Manager at Ahimsa Vegetarian Group from 2014–2016; he holds an NCC diploma in computer studies (Dec 1992) and Universiti Teknologi Malaysia Trust Advisory Certification (Nov 2023) . ATMC filings do not disclose TSR, revenue growth, or EBITDA growth metrics linked to his tenure; no performance KPIs are specified for his role .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Risesun Group | Managed Malaysian office; responsible for overall business development and market expansion | 2016–present | Led operations and market expansion for the Malaysian office |
| Ahimsa Vegetarian Group | IT Manager | 2014–2016 | Oversaw IT infrastructure and systems across the organization |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| — | — | — | No external board or executive roles disclosed in ATMC filings for Gan Kim Hai |
Fixed Compensation
- Pre-business combination: None of ATMC’s officers or directors (including Gan) have received or will receive cash compensation; the company reimburses the Sponsor for office space and administrative services at $10,000 per month until close or liquidation (company-level expense, not executive pay) .
- Post-business combination: Any compensation for officers/directors who remain will be determined by a committee of independent directors of the combined company and disclosed at that time .
| Component | FY 2024 | FY 2025 (pre-combination) | Notes |
|---|---|---|---|
| Base Salary ($) | — | $0 | No cash compensation prior to business combination |
| Target Bonus (%) | — | — | Not disclosed |
| Actual Bonus Paid ($) | — | $0 | No cash compensation prior to business combination |
| Administrative Fee (Sponsor) | — | $10,000/month | Office/admin reimbursement to Sponsor, not paid to executive |
Performance Compensation
- No RSUs, PSUs, or option awards for ATMC officers/directors are disclosed prior to the initial business combination .
- Performance metrics, weightings, targets, and payout formulas for executive incentives are not disclosed; post-combination compensation will be set by an independent compensation committee of the combined company .
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| — | — | — | — | — | No performance-based compensation disclosed for Gan pre-combination |
Equity Ownership & Alignment
- Beneficial ownership: Gan Kim Hai had no reported beneficial ownership of ATMC ordinary shares as of the record dates in September and November 2025; he is not listed with share counts or percentages (shown as “–”) .
- Pledging/hedging: No pledging by Gan is disclosed; company-level lock-up provisions prohibit pledging/hedging for certain shareholders post-combination, and underwriter compensation units were subject to FINRA lock-up prohibiting pledging/hedging during the lock-up period (underwriter-specific) .
- Ownership guidelines: No executive stock ownership guidelines or compliance status disclosed .
| Item | Status | Detail |
|---|---|---|
| Total beneficial shares (ATMC) | — | No reported beneficial ownership for Gan |
| Ownership % (ATMC) | — | Not listed; “–” in beneficial ownership tables |
| Vested vs. unvested shares | — | Not disclosed |
| Options (exercisable/unexercisable) | — | Not disclosed |
| Shares pledged | None disclosed | No pledging by Gan disclosed; lock-ups restrict pledging for certain holders |
| Ownership guidelines | Not disclosed | No guidelines or compliance disclosed |
Employment Terms
- Appointment and term: Appointed CEO and Class II director on March 18, 2025; director term expiring at second annual meeting .
- Agreements and severance: ATMC is not party to agreements with executive officers/directors providing benefits upon termination; no severance or change-of-control benefits are disclosed .
- Post-combination intent: PubCo intends to enter into employment and indemnification agreements with officers and directors upon transaction close (terms not disclosed) .
- Non-compete/non-solicit/garden leave: Not disclosed .
| Term | Status | Detail |
|---|---|---|
| Employment start date | March 18, 2025 | Appointed CEO and director |
| Contract term/expiration | Class II director term | Expires at second annual meeting |
| Severance | None disclosed | No termination benefits agreements |
| Change-of-control | None disclosed | No CoC benefits; future terms TBD post-combination |
| Clawback | Not disclosed | No clawback provisions disclosed |
| Non-compete / Non-solicit | Not disclosed | Not specified in filings |
Board Governance
- Roles: CEO and director; not listed as an independent director, and not identified as a member of the audit or compensation committees in ATMC’s committee compositions .
- Committee compositions (ATMC): Compensation committee members are Li Wei, Wen He (chair), and Michael L. Coyne; audit committee functions detailed by charter .
- Independence context: Post-business combination PubCo expects to be a “controlled company,” with potential exemptions from Nasdaq requirements for independent committee composition; PubCo anticipates three independent directors and independent committee membership in some cases, but may utilize controlled-company exemptions initially .
| Item | Status | Detail |
|---|---|---|
| Committee memberships (Gan) | None disclosed | Gan not listed on audit/compensation committees |
| Independence | Not independent | Executive officer serving as director; independent directors separately identified |
| Controlled company | Yes (post-combination expected) | Controlled-company status may reduce independence requirements temporarily |
Related Party Transactions and Capital Flows
- Due to related parties (Sponsor): Amounts due to related party of $754,589 (June 30, 2025) and $568,299 (Dec 31, 2024); administration fee of $10,000 per month charged by a Sponsor affiliate; audit committee reviews such payments quarterly .
- Due to HCYC: HCYC paid certain operating/extension costs; amounts due to HCYC were $501,897 (June 30, 2025) and $0 (Dec 31, 2024) .
- Related party policy: Audit committee policy governs review and approval of related party transactions; similar policy to be adopted at PubCo at closing .
Trading Supply Dynamics and Lock-Ups
- HCYC shareholder lock-up: 180-day lock-up post-combination; no offer/sale/pledge/hedge; early release mechanism allows 5% of lock-up shares to be released prior to 180 days if conditions are met .
- Underwriter unit purchase option: FINRA Rule 5110(e) 180-day lock-up prohibiting sale/pledge/hedging on underwriter compensation securities from IPO effective date (underwriter-specific) .
- Rule 144: Affiliate sales limitations post-combination; shell company restrictions noted .
Performance & Track Record
- Tenure execution: Appointment and leadership transition disclosed; no disagreements reported; no specific performance outcomes for ATMC tied to Gan’s tenure disclosed .
- Extensions: Business combination timeline extensions throughout early 2025; additional financing and sponsor/target support disclosed in financial notes .
Director Compensation
- Pre-combination: No cash compensation to officers/directors; only reimbursement of Sponsor-administered office/admin services .
- Post-combination: Director compensation to be determined and disclosed by the combined company’s independent compensation committee .
Say-on-Pay & Shareholder Feedback
- Not disclosed; ATMC, as a SPAC, does not report say-on-pay results in these filings .
Expertise & Qualifications
- Education: NCC diploma in computer studies (Dec 1992); Trust Advisory Certification, Universiti Teknologi Malaysia (Nov 2023) .
- Technical/industry experience: IT infrastructure oversight; operations and market expansion in Asia; selected as director due to Asia experience .
Compensation Structure Analysis
- Cash vs equity mix: Pre-combination compensation effectively $0 cash and no equity awards; future mix undetermined until post-combination .
- Guaranteed vs at-risk pay: None disclosed; compensation to be determined post-combination .
- Repricing/modification: None disclosed .
Compensation Peer Group
- Not disclosed in ATMC filings .
Employment & Retention Risk
- Lack of severance/change-of-control benefits indicates limited contractual retention levers pre-combination .
- Post-combination intent to enter employment/indemnification agreements suggests terms will change but are currently unknown .
Board Service History, Committee Roles, and Dual-Role Implications
- Board service: Appointed to Class II director seat March 18, 2025; CEO dual role .
- Committee roles: Gan is not listed as a member of audit or compensation committees; compensation committee chaired by an independent director (Wen He) with independent members Li Wei and Michael L. Coyne .
- Dual-role implications: As CEO and director, Gan is not independent; independence concerns are mitigated by independent committee structures, but post-combination controlled-company status may reduce independence requirements, raising governance vigilance needs .
Investment Implications
- Alignment: Pre-combination, Gan has no cash compensation and no reported equity ownership, limiting pay-for-performance alignment signals; post-combination compensation and equity plans will be determinative but are currently unspecified .
- Retention risk: Absent severance or change-of-control protections pre-combination, retention relies on anticipated post-combination agreements; monitor filings at closing for terms, vesting schedules, and performance metrics .
- Trading signals: Gan-specific selling pressure appears limited given no reported share ownership; however, 180-day lock-ups on HCYC shareholders and FINRA lock-ups on underwriter compensation securities shape near-term supply; watch early-release conditions and Rule 144 affiliate sales post-shell transition .
- Governance: Controlled-company status post-combination may reduce independence requirements; ensure compensation decisions remain under independent committee oversight and related party transactions adhere to policy .
- Next checkpoints: At business combination close, review PubCo employment agreements, compensation committee charters, equity grant disclosures, and any Form 6-K/20-F or proxy materials for updated compensation, ownership and governance details .