Maan-Huei Hung
CATHAY GENERAL BANCORPAbout Maan-Huei Hung
Maan-Huei Hung is an independent director of Cathay General Bancorp and Cathay Bank, serving since May 2020; she is a California-licensed attorney with 40+ years of experience, currently General Counsel at AHMC Healthcare Inc. (owns and operates eight hospitals). She previously served as General Counsel for General Bank and GBC Bancorp until their 2003 merger with Cathay; she is a founding member and former president of the Taiwanese American Lawyers Association, legal counsel to the National Association of Chinese American Bankers since 2002, and a board member of the AHMC Health Foundation. Age: 77; Board committee roles: Nomination & Governance (Vice Chair) and Compensation; the Board classifies her as independent under Nasdaq rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| General Bank / GBC Bancorp | General Counsel | –2003 (merger with Cathay) | Banking/commercial law expertise supporting governance and oversight |
| Various business clients (Los Angeles area) | Transactional corporate law (banking, commercial, healthcare) | 40+ years | Cross-industry legal perspective relevant to risk oversight |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| AHMC Healthcare Inc. | General Counsel | Current | Healthcare system operating eight hospitals; legal leadership |
| National Association of Chinese American Bankers | Legal counsel | Since 2002 | Ongoing industry association role |
| AHMC Health Foundation | Board member | Current | Non-profit governance role |
| Taiwanese American Lawyers Association | Founding member; former president | Not disclosed | Professional leadership; legal community engagement |
Board Governance
- Independence: The Board determined Ms. Hung is independent; all members serving on the Audit, Compensation, and Nomination & Governance committees are independent under Nasdaq and SEC rules .
- Committee assignments: Nomination & Governance (Vice Chair; appointed January 2025) and Compensation (member) .
- Attendance: In 2024, each director attended >75% of aggregate Board and committee meetings; all current directors attended the 2024 annual meeting of stockholders .
- Meeting cadence: Board held seven meetings in 2024; committee meetings held: Audit (10), Compensation (7), Nomination & Governance (7), Investment (3), Risk (5) .
- Ownership guidelines: Directors must hold ≥3x annual cash retainer (amended January 18, 2024); as of March 20, 2025, all current directors meet holdings or are within the 5-year grace period .
| Committee | Role | 2024 Meetings Held | Notes |
|---|---|---|---|
| Nomination & Governance | Vice Chair | 7 | Appointed VC in Jan 2025; all committee members independent |
| Compensation | Member | 7 | All members independent; no consulting/advisory fees beyond director pay |
Fixed Compensation
| Component | Amount | Period | Notes |
|---|---|---|---|
| Annual cash retainer (director) | $55,000 | 2024 | Paid monthly; applies to non-employee directors |
| Committee/special meeting fee | $750 per meeting | 2024 | Includes committee and executive session attendance |
| Chair retainers (reference) | $10,000 (most committees); $15,000 (Audit Chair; Bank Board Credit Chair) | 2024 | Vice Chair retainer not disclosed; listed for context |
| Ms. Hung — Fees earned or paid in cash | $70,750 | 2024 | Actual cash compensation received |
Performance Compensation
| Instrument | Grant Date | Grant Value | Vesting/Terms | Notes |
|---|---|---|---|---|
| Common stock (director equity award) | April 12, 2024 | $84,999 | Not disclosed | Awarded to each non-employee director based on closing price; additional compensation for Board/committee service |
| Performance Metric | Disclosed for Director Equity? | Notes |
|---|---|---|
| Financial/operational metrics (e.g., revenue growth, EBITDA, TSR) | No | Director equity awards described as additional compensation for service; no performance conditions disclosed |
| Ms. Hung — Total Director Compensation | 2024 Total ($) |
|---|---|
| Cash fees + stock award | $155,749 |
Other Directorships & Interlocks
- Public company boards: None disclosed in Ms. Hung’s biography in the proxy .
- Private/non-profit boards: AHMC Health Foundation (board member) .
- Potential interlocks: Ms. Hung is General Counsel at AHMC Healthcare (private healthcare operator); no specific banking transactions with AHMC are disclosed in the related party section .
Expertise & Qualifications
- California-licensed attorney with 40+ years’ experience in transactional corporate law, emphasizing banking, commercial, and healthcare law .
- Board-listed qualifications: Leadership, Business Operations, Finance, and Risk Management .
Equity Ownership
| Holder | Shares Beneficially Owned | Ownership % | Record Date | Notes |
|---|---|---|---|---|
| Maan-Huei Hung | 9,201 | <1% | March 20, 2025 | Percent calculated against 70,004,272 shares outstanding; per SEC rules includes shares acquirable within 60 days if applicable |
- Stock ownership policy: Directors must hold ≥3x annual cash retainer; compliance: all current directors meet holdings or within grace period as of March 20, 2025 .
- Pledging/hedging: Not specifically disclosed for Ms. Hung; Board policies require disclosure and Audit Committee review of conflicts .
Governance Assessment
- Board effectiveness: Ms. Hung’s elevation to Vice Chair of Nomination & Governance (January 2025) signals strong engagement in board composition, succession planning, and governance standards; Compensation Committee role adds oversight breadth while maintaining independence .
- Alignment: She holds common stock and is subject to enhanced director ownership guidelines (3x retainer), with the Board reporting directors meet or are within the grace period—supporting alignment with shareholders .
- Attendance: 2024 attendance above minimum (>75%) for all directors and full annual meeting participation bolster engagement signals .
- Conflicts/related party exposure: No related party transactions disclosed involving Ms. Hung; Board policies require Audit Committee review/approval and abstention from decisions affecting personal interests, mitigating conflict risk .
- Risk indicators: No red flags disclosed (e.g., legal proceedings, SEC investigations, pledging, option repricing) related to Ms. Hung in the proxy .
RED FLAGS: None disclosed specific to Ms. Hung. Monitoring recommended for any future related-party transactions involving AHMC or affiliated entities given her external GC role; the proxy discloses a lease arrangement tied to another director (Richard Sun) but none involving Ms. Hung .