Shirley Wang
About Shirley Wang
Independent director at Douglas Emmett, Inc. since April 1, 2022; age 56 as of April 1, 2025. Founder and CEO of Plastpro Inc. (fiberglass door manufacturer) since 1994; prior executive and sales roles at Citicorp and J. Walter Thompson. Education: B.A. UCLA; MBA Columbia University. Beneficial ownership: 284,000 common shares; less than 1% of shares outstanding; no OP Units listed under her name .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Plastpro Inc. | Founder and Chief Executive Officer | 1994–present | Manufacturing and construction operator experience applicable to REIT capital projects |
| Citicorp | Executive/Sales roles | Not disclosed | Commercial/financial skillset |
| J. Walter Thompson Advertising | Executive/Sales roles | Not disclosed | Marketing/operations background |
External Roles
| Organization | Role | Status/Timing | Notes |
|---|---|---|---|
| Preferred Bank (NASDAQ) | Director | Former; prior service noted in 2025 proxy | Listed as current in 2023 proxy; latest filing says “previously served” → treat as prior service |
| Columbia University | Trustee, Board of Trustees | Current | Governance experience at leading academic institution |
Board Governance
- Committee assignments (current): Compensation Committee member; 2024 activity: met once and acted three times by written consent; chair is Leslie E. Bider .
- Prior committee service: Nominating & Corporate Governance Committee member in 2023 and 2024; committee chaired executive sessions of independent directors; met twice in each of 2022/2023 .
- Independence: Board determined all non‑employee board members (including Wang) are independent under NYSE rules; exception only for Mr. Emmett due to prior executive role .
- Attendance: Board met 4 times in 2024 and acted by written consent 4 times; directors attended all Board meetings with one absence; committees had two total absences; annual meeting attendance — all directors with one absence .
- Committee interlocks: Compensation Committee disclosed no interlocks or insider participation among its members .
Fixed Compensation
| Component | Structure | Amount/Terms | 2024 Grant for 2025 Service |
|---|---|---|---|
| Annual director retainer | LTIP Units (no cash retainer disclosed) | Face value $220,000; vests quarterly during service year; transfer restricted, cannot exchange for common stock until Dec 31 two years after full vesting | Shirley Wang grant date fair value: $169,132 (ASC 718), granted Dec 12, 2024 for 2025 service |
| Chair fees (not applicable to Wang) | LTIP Units | Board Chair +$50,000; Audit Chair +$22,500; Compensation/Nominating Chairs +$15,000; vest quarterly | N/A for Wang |
| Meeting fees | Not disclosed | — | — |
Performance Compensation
| Element | Metrics/Conditions | Vesting/Restrictions |
|---|---|---|
| Director equity LTIP Units | No director-specific performance metrics disclosed; grants structured as time-vested for service year | Vests quarterly during the year; exchange into common stock prohibited until Dec 31 two years post full vesting |
For executives, DEI uses performance goals (FFO, TSR, ESG, operating, external activities) and LTIP Units with price hurdles, but these do not apply to non-employee director retainer awards .
Other Directorships & Interlocks
| Company/Entity | Sector | Relationship to DEI | Potential Interlock Risk |
|---|---|---|---|
| Preferred Bank | Banking | No DEI related-party transactions disclosed with Preferred Bank | None disclosed in related party section |
| Columbia University | Education | None | None disclosed |
Expertise & Qualifications
- Manufacturing and construction operator (Plastpro CEO); relevant to development/redevelopment projects and supplier perspectives .
- Prior financial and marketing roles (Citicorp, J. Walter Thompson) — diversified operational background .
- Governance experience as university trustee; enhances oversight credibility .
- Independent director; currently active on Compensation Committee; previously on Nominating & Corporate Governance .
Equity Ownership
| Holder | Common Shares | Percent of Class | OP Units | Notes |
|---|---|---|---|---|
| Shirley Wang | 284,000 | * (<1%) | — | Listed among directors’ beneficial ownership; address c/o DEI |
Stock ownership policy:
- Directors must reach target equity ownership within five years: 3x annual retainer (or fixed share amount, lesser applies); directors restricted from selling/transfer of equity comp for minimum two years post grant; all directors in compliance as of record date .
Insider trading and alignment policies:
- Hedging prohibited; short sales and derivatives prohibited; pledging restricted, requires CFO/Audit Committee approval; blackout windows enforced .
Governance Assessment
-
Strengths:
- Independence affirmed; active committee service; no Compensation Committee interlocks → positive oversight quality .
- Director pay delivered entirely in equity (LTIP Units) with multi-year transfer restrictions → alignment with long-term shareholder value; no cash retainer disclosed .
- Ownership guidelines (3x retainer) and compliance; broader insider trading restrictions (no hedging, limited pledging) support investor alignment .
- Beneficial ownership of 284,000 shares indicates meaningful skin-in-the-game though below 1% of total shares .
-
Watch items:
- Committee rotation from Nominating & Corporate Governance (2023–2024) to Compensation (2025) is a neutral change; continue to monitor engagement (meeting frequency and written consents) for Compensation Committee effectiveness .
- No related-party transactions involving Wang disclosed; maintain surveillance for vendor/customer ties given Plastpro’s industry proximity to construction materials .
-
RED FLAGS: None disclosed specific to Wang. No low attendance indicated; no pledging/hedging disclosures; no related-party transactions tied to Wang in 2024 .
Appendices
Director Compensation – Detail (2024 awards granted for 2025 service)
| Director | LTIP Unit Awards (grant-date fair value) | Total |
|---|---|---|
| Shirley Wang | $169,132 | $169,132 |
Committee Memberships (2024 activity reported in 2025 proxy)
| Committee | Members | Chair | 2024 Meetings/Written Consents |
|---|---|---|---|
| Compensation | Leslie E. Bider; William E. Simon, Jr.; Shirley Wang | Bider | Met once; 3 written consents |
| Nominating & Corporate Governance | Virginia A. McFerran; Ray C. Leonard; William E. Simon Jr. | McFerran | Met twice; 1 written consent |
| Audit | Thomas E. O’Hern; Leslie E. Bider; Dorene C. Dominguez | O’Hern | Met four times; 2 written consents |
Board and Meeting Attendance (2024)
| Body | Meetings | Attendance |
|---|---|---|
| Board of Directors | 4 meetings; 4 written consents | All directors attended except one absence |
| Committees | Various | All committee meetings attended with two absences in aggregate |
| Annual Meeting | 2024 | All directors attended with one absence |
Beneficial Ownership (Record Date April 1, 2025)
| Name | Common Shares | Percent of Class | OP Units |
|---|---|---|---|
| Shirley Wang | 284,000 | * (<1%) | — |
Policies Affecting Alignment
- Equity ownership requirements for directors: 3x retainer; all directors in compliance as of record date .
- Insider trading policy: prohibits hedging, short sales, derivatives, and requires pre-clearance; pledging restricted; blackout periods apply .
Related Party Transactions (2024)
- No related-party transactions disclosed involving Shirley Wang; section lists other relationships (e.g., leases and family employment) for different executives/directors only .