Elaine Wong
About Elaine Wong
Elaine Wong (age 46) is an independent director of Creative Media & Community Trust Corporation (CMCT) and has served on the board since May 2022. She is the Audit Committee chair and qualifies as an “audit committee financial expert” under SEC rules; she also serves on the Compensation Committee . Wong holds a B.S. in Accounting and Finance from NYU Stern and previously held senior investor relations and marketing roles at CIM Group, with prior experience at Perry Capital and Goldman Sachs .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| CIM Group, L.P. | Principal; Head of Marketing & Communications | May 2018 – Jun 2021 | Member, CIM Investment Committee (Feb 2015 – Jun 2021); led IR/marketing strategy |
| CIM Group, L.P. | Global Head Partner & Co-Investor Relations | Feb 2015 – Apr 2018 | Capital partner relations |
| CIM Group, L.P. | 1st VP, Global Head of Fundraising & IR | Feb 2012 – Jan 2015 | Led fundraising & IR |
| CIM Group, L.P. | VP, Fundraising & IR | Feb 2010 – Jan 2012 | Fundraising & IR execution |
| CIM Group, L.P. | Associate, Investor Relations | Apr 2007 – Jan 2010 | Investor relations |
| Perry Capital, LLC | Associate | May 2005 – Mar 2007 | Investment analysis |
| Goldman Sachs & Co. | Analyst/Associate, Equities Div., Financial & Strategic Mgmt. | Jul 2001 – Apr 2005 | Equities division analysis |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| CMFT (CIM Real Estate Finance Trust) | Director | Oct 2019 – Dec 2021 | Board service prior to merger |
| CIM Income NAV | Director | Oct 2019 – Dec 2021 | Board service prior to merger with CMFT |
| CCPT V | Director | Oct 2019 – Dec 2020 | Board service prior to merger with CMFT |
| CCIT II | Director | Oct 2019 – Mar 2021 | Board service prior to merger with GRT |
Board Governance
- Committee assignments: Audit Committee Chair; Compensation Committee member; not on Nominating & Corporate Governance (Bech chair; Edwards member) .
- Independence: Board determined Wong is independent under Nasdaq/SEC standards .
- Attendance: Board met 6 times in 2023 and 8 times in 2024; each director attended ≥75% of board and committee meetings in both years .
- Audit Committee activity: Five meetings in 2023 and five in 2024; separate executive sessions with the auditor; oversees cybersecurity rule compliance .
- Executive sessions: Independent directors hold at least one executive session per year without management .
Fixed Compensation
| Component | Amount | Frequency/Terms |
|---|---|---|
| Annual Board Cash Retainer | $55,000 | Payable quarterly in advance |
| Audit Committee Chair Retainer | $20,000 | Payable quarterly in advance |
| Meeting Fees | Not disclosed | No separate retainer for chairs of Compensation or Nominating committees |
| Year | Fees Earned (Cash) | Share Awards (Grant-date FV) | Total |
|---|---|---|---|
| 2023 | $75,000 | $54,999 | $129,999 |
| 2024 | $75,000 | $54,786 | $109,768 |
Note: 2024 total shown in the proxy table ($109,768) does not arithmetically equal cash plus share awards for Elaine Wong ($75,000 + $54,786 = $129,786); reported values are presented as disclosed .
Performance Compensation
| Award Type | Grant Date | Number of Shares | Per-Share Price | Grant-Date Fair Value | Vesting | Unvested at Year-End |
|---|---|---|---|---|---|---|
| Restricted Shares (RS) | Aug 2, 2023 | 12,222 | $4.50 | $54,999 | Time-based; vest on 1-year anniversary | 12,222 (as of Dec 31, 2023) |
| Restricted Shares (RS) | Aug 6, 2024 | 108 | $507.28 | $54,786 | Time-based; vest on 1-year anniversary | 108 (as of Dec 31, 2024) |
| Performance Metric | Target | Measurement Span | Link to Director Pay |
|---|---|---|---|
| None (time-based vesting only) | N/A | N/A | Director equity grants are time-based; no performance metrics disclosed |
The company does not currently grant new stock options/SARs; equity for directors is restricted stock that vests time-based .
Other Directorships & Interlocks
| Company | Relationship to CMCT | Potential Interlock/Conflict Consideration |
|---|---|---|
| CMFT, CIM Income NAV, CCPT V, CCIT II | Historic CIM-affiliated REIT boards | CMCT is externally operated/administrated by CIM affiliates; board acknowledges potential conflicts environment |
Expertise & Qualifications
- Financial expertise and SEC-designated Audit Committee financial expert .
- Deep investor relations, fundraising, and marketing/communications strategy experience from CIM; prior buy-side (Perry Capital) and sell-side/financial strategy (Goldman Sachs) .
- NYU Stern B.S. in Accounting & Finance .
Equity Ownership
| Record Date | Common Shares Beneficially Owned | Percent of Class | Preferred Shares (A/A1) | Notes |
|---|---|---|---|---|
| 2024 Proxy (Record Date in filing) | 4,747 | * (less than 1%) | None | As disclosed in the directors’ ownership table |
| Aug 27, 2025 Proxy | 8,850 | 1.1% | None | As disclosed in the directors’ ownership table |
| Hedging/Pledging Policy | Director Pledge Status |
|---|---|
| Hedging prohibited; pledging only with counsel approval per Trading Policy | No pledges by Wong disclosed in proxies |
Unvested director restricted shares outstanding: 12,222 (as of 12/31/2023) ; 108 (as of 12/31/2024) .
Governance Assessment
- Strengths: Independent director; Audit Committee Chair and SEC “financial expert”; consistent attendance; restricted equity grants align director incentives with shareholder outcomes via ownership accumulation .
- Risks/Red Flags:
- External management and administration by CIM affiliates with broad mandates and substantial non‑performance-based fees create a persistent conflicts environment; board notes that certain directors/executives may face conflicts related to CIM roles and affiliates .
- Compensation Committee did not engage an independent compensation consultant in 2023 or 2024, reducing external benchmarking rigor; however, director pay is relatively plain-vanilla (cash retainer + time-based equity) .
- Trading policy permits pledging only with approval; no pledges disclosed for Wong, but ongoing monitoring advisable .
- Director Compensation Alignment: Mix is ~40–45% cash and ~55–60% equity by grant-date fair value, with additional $20k for Audit chair responsibilities, supporting pay-for-service and ownership alignment; absence of performance metrics is standard for directors but means alignment relies on equity and reputation rather than explicit KPIs .
Board activity signals: Audit Committee held five meetings annually (2023, 2024); Compensation and Nominating committees met at least annually (2023–2024), indicating active governance cadence, with independent director executive sessions .