Yingxuan Shan

About Yingxuan Shan

Yingxuan Shan was appointed Chief Financial Officer and a Class III director of AlphaTime Acquisition Corp. on May 6, 2025; she holds a B.S. in Finance (Miami University) and an M.S. in Risk Management (New York University) . Her prior experience spans risk control and IT audit roles at Huobi Global (Beijing) Co., Ltd. and KPMG Enterprise Consulting (China) Co., Ltd., and she has been a shareholder at Chengdu Beiming Electronics Technology Co., Ltd. since May 2023 . As a SPAC (blank check company), AlphaTime’s pre-business-combination structure means traditional operating performance metrics (revenue/EBITDA growth) and pay-for-performance linkages are not applicable or disclosed prior to a de‑SPAC .

Past Roles

External Roles

Fixed Compensation

• Policy: No officer or director cash compensation is paid prior to AlphaTime’s initial business combination; the sponsor is reimbursed $10,000/month for office/admin services, and insiders are reimbursed for out-of-pocket expenses, reviewed quarterly by the audit committee .
• Post-combination: Compensation for officers/directors who remain will be set by an independent compensation committee of the combined company and disclosed in transaction materials; no termination benefits agreements were disclosed as of FY2024 .

Performance Compensation

• No annual or long-term incentive plan metrics (revenue, EBITDA, TSR, ESG) or payouts are disclosed prior to the business combination; SPAC officers/directors do not receive cash compensation pre‑de‑SPAC .

Equity Ownership & Alignment

• Beneficial ownership: The 2025 proxy shows no individual beneficial ownership reported for Ms. Shan as of the 3,469,450-share record date; the officers/directors as a group held 61.51% (largely via founder shares controlled by the sponsor), while Ms. Shan’s line item reflects “—” (no reported shares or <1%) .
• Anti‑hedging: Directors/officers and related persons are prohibited from hedging/monetization transactions (e.g., collars, swaps, exchange funds) in Company securities .
• Pledging: Holding Company securities in margin accounts or pledging as collateral requires prior approval, with conditions to avoid forced sales during blackout/inside information periods .
• Trading controls: Section 16 insiders must pre‑clear trades; event‑specific blackouts may be imposed; trading allowed only after the second full trading day following public disclosure of material information .

Employment Terms

Board Governance (service history, committees, and independence)

• Service history: Appointed to the Board on May 6, 2025 as a Class III director; concurrent service as CFO constitutes a dual role (officer + director) .
• Committees: Audit and Compensation Committees are comprised solely of independent directors (Li Wei, Wen He, Michael L. Coyne); Li Wei chairs Audit, Wen He chairs Compensation; Ms. Shan is not listed as a committee member .
• Independence: The Board identified three independent directors; NASDAQ independence standards generally exclude officers (e.g., CFO) from being considered independent .
• Director pay: No cash compensation to directors pre‑business combination (consistent with SPAC practice) .

Additional Governance and Shareholder Context

• Beneficial ownership context: The 2025 proxy details 3,469,450 shares outstanding at record date and provides the methodology for beneficial ownership determinations; sponsor and >5% holders dominate ownership; Ms. Shan shows no reported holdings .
• SPAC structure and incentives: Filings reiterate blank-check/SPAC dynamics and initial shareholder interests in completing a business combination, which can differ from public shareholders’ interests .
• Executive transitions: The prior CFO resigned effective April 30, 2025 (personal reasons), and Ms. Shan was appointed CFO/director on May 6, 2025, highlighting leadership transition risk during the SPAC lifecycle .

Investment Implications

• Alignment and selling pressure: With no reported individual share ownership for Ms. Shan and anti‑hedging/controlled pledging policies in place, near‑term insider selling pressure from her specifically appears limited; however, sponsor/founder lock‑ups and economics may be the dominant equity overhang driver post‑combination .
• Pay‑for‑performance and retention: Pre‑de‑SPAC policy of $0 cash compensation and no disclosed severance/CIC terms means retention hinges on anticipated post‑combination roles and packages; lack of pre‑negotiated protections can be a retention risk through the transaction period .
• Governance checks on dual role: While Ms. Shan serves both as CFO and director (not independent), independent Audit and Compensation Committees mitigate some governance concerns around oversight of financial reporting and future pay decisions .
• Transition risk: CFO turnover in April–May 2025 underscores execution risk around deal execution and readiness; investors should monitor subsequent filings for any employment agreements, equity grants, or revised governance structures as a de‑SPAC approaches .