Sihai Xu
About Sihai Xu
Sihai Xu, age 52 as of April 1, 2024, has served on BeyondSpring’s board since August 2022. He previously worked at the company as International Business Coordinator from November 2016 to January 2022. Xu is an experienced China-based financial executive and currently serves as CFO and board member of BOJI Health Investment Management (Shanghai) Co., Ltd. (since 2014). He holds an MBA from Renmin University and a bachelor’s degree in Financial Accounting from Henan University of Economics and Law, with China GAAP expertise .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| BeyondSpring Inc. | International Business Coordinator | Nov 2016 – Jan 2022 | Internal commercial coordination; built familiarity with company operations |
| Henan Plastic Surgery Hospital | CFO | Not disclosed | Financial leadership in healthcare services |
| Shanghai BOJI Hospital Investment Management Co., Ltd. | CFO | Not disclosed | Finance oversight in hospital investment management |
| Henan Zhiyi Investment Management Co., Ltd. | CFO | Not disclosed | Corporate finance and investment management |
| Luoyang Chundu Group | Director of Finance | Not disclosed | Group-level finance management |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| BOJI Health Investment Management (Shanghai) Co., Ltd. | CFO and Board Member | Since 2014 | Ongoing senior finance and governance role |
| Various China/HK public companies (advisor/investor) | Financial advisor/strategic investor | Not disclosed | Participated in pre-IPO/IPO/major restructurings for Henan Taloph Pharmaceutical, Henan Lingrui Pharmaceutical, Xinxiang Chemical Fiber, Central China Land Media, China Molybdenum, among others |
Board Governance
- Current board size is six directors; Xu is listed among non-employee directors .
- Committee rosters do not include Xu: Audit (Fabbio, Kirkby, Delaney; chair Fabbio), Compensation (Kirkby, Majeti; chair Kirkby), Nominating & Corporate Governance (Kirkby, Majeti; chair Majeti) .
- Independence: The board determined four directors (Delaney, Fabbio, Kirkby, Majeti) are independent under Nasdaq rules; Xu is not named among those determined independent, and he was a company employee through January 2022, a potential independence consideration .
- Director terms/tenure follow company articles; no stated benefits upon termination for directors .
- As a foreign private issuer, the company may follow Cayman home-country practices and did not hold an annual meeting in 2023, which can reduce routine shareholder oversight; it held the 2025 AGM focused on auditor ratification .
Fixed Compensation
| Component | Amount | Detail |
|---|---|---|
| Annual cash retainer | $40,000 | Pro-rated for partial year; applicable to all non-employee directors |
| Committee membership fee | $0 if not on committee | Compensation: $6,000 ($12,000 if chair); Nominating & Corporate Governance: $4,000 ($8,000 if chair); Audit: $8,000 ($16,000 if chair). Xu is not on any committee per roster |
| Director agreement | Standard | No termination benefits for directors under Director Agreement |
Note: BeyondSpring at times settled partial cash compensation with options; Xu received option grants “in respect of partial 2023 cash compensation” (see Performance Compensation) .
Performance Compensation
| Award Type | Quantity | Exercise Price | Expiration | Vesting/Notes |
|---|---|---|---|---|
| Nonqualified stock options | 20,000 (initial award vests over 3 years) | $1.50 | 08/23/2032 | 6,666 vested; 13,334 unvested as of 04/01/2024 (initial director grant structure vests over first three anniversaries) |
| Nonqualified stock options | 5,625 | $2.68 | 02/10/2033 | Vested as of 04/01/2024 |
| Nonqualified stock options | 10,000 | $0.9835 | 05/08/2033 | Vested; one-time grant on May 8, 2023 |
| Options (partial 2023 cash comp) | 12,422 | $0.99 | 12/18/2033 | Unvested as of 04/01/2024; granted in respect of partial 2023 cash compensation |
| Annual options (FY2024) | 10,000 | $0.90 | 01/01/2034 | Unvested as of 04/01/2024; annual director grant |
- Director equity granting policy: initial 20,000 options at start of service; annual 10,000 options at start of each fiscal year; annual grants vest after one year; initial grants vest in three equal installments over three years; exercise price equals fair market value on grant date .
Other Directorships & Interlocks
| Company | Role | Public Company? | Potential Interlock with BYSI | Notes |
|---|---|---|---|---|
| BOJI Health Investment Management (Shanghai) Co., Ltd. | CFO, Board Member | No disclosure as US-listed | None disclosed | External governance role since 2014 |
| Advisory to multiple China/HK public companies | Financial advisor | Various | None disclosed | No related-party transactions disclosed since 2023 beyond standard director arrangements |
Expertise & Qualifications
- 30 years of finance leadership in China; China GAAP expertise (useful for cross-border operations and accounting oversight) .
- MBA (Renmin University); Bachelor’s in Financial Accounting (Henan University of Economics and Law) .
- Experience with pre-IPO/IPO and asset restructurings across multiple China/HK public companies, relevant to capital markets and strategic transactions .
Equity Ownership
| As-of Date | Beneficially Owned Shares | % of Outstanding | Composition | Outstanding Shares Base |
|---|---|---|---|---|
| April 1, 2024 | 22,291 | <1% | All via vested options exercisable within 60 days [footnote (8)] | 39,029,163 ordinary shares outstanding |
- No pledging or hedging disclosed; no loans or related party payments to entities associated with Xu disclosed since January 1, 2023 beyond standard director agreements .
Governance Assessment
- Board effectiveness and engagement: Xu is not serving on key committees (audit, compensation, nominating/governance), which limits direct oversight impact in core governance areas .
- Independence signals: The board explicitly names four independent directors under Nasdaq rules; Xu is not among them and was employed by the company until January 2022. This proximity to prior employment raises an independence concern and potential conflicts in oversight perspectives .
- Pay and alignment: Cash retainer is modest ($40k) and equity grants are the primary at-risk component. Xu’s beneficial ownership is limited (<1%), which is a weaker “skin-in-the-game” signal for alignment, though option-heavy pay can align incentives with long-term shareholder value if exercised .
- Conflicts/related parties: No material related party transactions involving Xu were disclosed since January 1, 2023, mitigating immediate conflict concerns despite external roles in China-based entities .
- Shareholder oversight context: As an FPI, BeyondSpring follows Cayman home-country practices and did not hold an annual meeting in 2023; the 2025 AGM addressed auditor ratification only, limiting direct shareholder input on director elections and compensation that year (investor oversight signal) .
RED FLAGS:
- Not listed as independent under Nasdaq standards; prior employment with the company (through Jan 2022) .
- No committee assignments (reduced governance influence) .
- Low beneficial ownership (<1%), though options outstanding provide upside linkage .
Positive Signals:
- Deep finance and China GAAP expertise, potentially valuable for cross-border operations and capital markets transactions .
- No disclosed related-party transactions involving Xu since 2023 .
Notes on Attendance, Clawbacks, and Say-on-Pay
- Board meeting attendance rates, clawback provisions applicable to directors, and say-on-pay outcomes were not disclosed in the cited filings. The 2025 proxy focused on auditor ratification and did not include director elections or attendance data .