Izmet Iskandar Bin Mohd Ramli
About Izmet Iskandar Bin Mohd Ramli
Chief Financial Officer of Evergreen Corporation (EVGR) since January 2022 and a director since February 8, 2022; listed as the company’s principal financial and accounting officer in SEC certifications . Age disclosed as 43 in the February 2022 prospectus and 52 in the FY2023 annual report filed February 28, 2024 . EVGR is a SPAC with no operating revenues or EBITDA prior to a business combination, so TSR/revenue/EBITDA performance metrics are not applicable to his role pre-combination .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Evergreen Corporation (EVGR) | Chief Financial Officer (Principal Financial and Accounting Officer) | Jan 2022–present | CFO certifications on 10-Q/10-K; oversees financial reporting and compliance |
| Evergreen Corporation (EVGR) | Director | Feb 8, 2022–present | Board member during SPAC lifecycle |
External Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Fine Today Malaysia | Director | Since Jul 2021 | Advising on operational setup, business development, fundraising, and M&A |
| Ntech Capital Management | Director | Since Jul 2021 | Advising on operational setup, business development, fundraising, and M&A |
Fixed Compensation
| Item | Disclosure |
|---|---|
| Base salary | No cash compensation to officers or directors prior to completion of initial business combination |
| Target bonus % | Not disclosed; no pre-combination bonuses |
| Administrative support fee (paid to Sponsor) | $10,000 per month for office space, utilities, secretarial/admin services until the earlier of business combination or liquidation |
| Reimbursement of out-of-pocket expenses | Permitted for activities identifying/investigating/completing a business combination; reviewed quarterly by audit committee |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Performance-based equity/bonus (pre-combination) | N/A | N/A | N/A | None disclosed prior to business combination | N/A |
Equity Ownership & Alignment
| Metric | DEF 14A (Apr 28, 2023) | DEF 14A (Apr 8, 2024) | DEF 14A (Jan 13, 2025) |
|---|---|---|---|
| Beneficial ownership (shares) | None (— in filing) | None (— in filing) | None (— in filing) |
| Ownership as % of shares outstanding | None (—) | None (—) | None (—) |
| Options held (exercisable/unexercisable) | None; Form 3 states “No securities are beneficially owned” | None disclosed | None disclosed |
| Vested vs. unvested shares | None disclosed (no holdings) | ||
| Shares pledged as collateral | Not disclosed; no beneficial holdings recorded | ||
| Stock ownership guidelines | Not disclosed |
Employment Terms
| Term | Disclosure |
|---|---|
| Employment start date | CFO since January 2022; director since February 8, 2022 |
| Contract term/expiration | Not disclosed; SPAC officers generally serve without fixed-term employment agreements pre-combination |
| Severance | Company states it is not party to agreements with executive officers/directors that provide benefits upon termination of employment pre-combination |
| Change-of-control economics | No pre-combination severance/change-of-control benefits disclosed for officers/directors |
| Non-compete / non-solicit | Company states no Insider is subject to non-compete/non-solicit agreements that would materially affect ability to serve, except as disclosed (none for Izmet) |
| Garden leave | Not disclosed |
| Post-termination consulting | Not disclosed pre-combination; post-combination compensation may be determined by the combined company |
Investment Implications
- Pay-for-performance linkage is minimal pre-business combination: EVGR’s S-1 explicitly states no cash compensation to officers/directors before closing a deal, and there are no disclosed performance awards for Izmet during the SPAC phase, limiting traditional incentive alignment analysis .
- Insider selling pressure appears negligible: multiple DEF 14A filings and Izmet’s Form 3 show no beneficial ownership, options, or RSUs, reducing near-term selling/pledging risk signals .
- Retention and parachute risk low pre-deal: absence of severance/change-of-control benefits suggests limited golden parachute exposure, though post-combination terms could change and would need reassessment after closing .
- Governance context: CFO certifies financial reports and serves on the board in a SPAC with trust-account protections and quarterly audit committee review of reimbursements; compensation committee responsibilities are largely deferred until a business combination is completed .