Yueting Jia
About Yueting Jia
Founder of Faraday Future, age 51; appointed Co‑Global Chief Executive Officer on April 23, 2025 after serving as Chief Product & User Ecosystem Officer since September 2019 and previously as CEO (2017–September 2019). Education includes master’s coursework in enterprise management (Shan Xi University) and the China CEO Program jointly offered by Cheung Kong Graduate School of Business, Columbia Business School, IMD and London Business School . Recent FFAI fundamentals show minimal revenue and negative EBITDA, underscoring execution risk and need for capital while management targets FX program rollout and profitability .
FFAI recent quarterly financials:
| Metric | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 |
|---|---|---|---|---|
| Revenue ($USD) | $235,000 | $316,000 | $54,000 | $37,000 |
| EBITDA ($USD) | -$19,046,000* | -$26,260,000* | -$28,051,000* | -$47,695,000* |
| Values with * retrieved from S&P Global. |
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Faraday Future | Co‑Global CEO | Apr 2025–present | Added finance, legal, supply chain to direct lines; launched equity incentives tied to market cap/price |
| Faraday Future | Chief Product & User Ecosystem Officer | Sep 2019–Apr 2025 | Defined FF 91 product; led internet/AI/autonomous/user ops |
| Faraday Future | Chief Executive Officer | 2017–Sep 2019 | Led pre‑IPO strategy and FF 91 development |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Le Holdings (LeEco) | Founder | 2011– | Built multi‑segment internet ecosystem across devices, content, auto |
| LeTV | Founder | 2004– | Early video streaming platform; public listing history noted |
| Xbell Union Communication Technology | Founder | 2003– | Developed China’s first mobile video streaming software system |
Fixed Compensation
| Component | Terms | Effective Date | Notes |
|---|---|---|---|
| Base Salary | $680,000; increases to $900,000 upon start of FX Super One delivery phase one (SOD Phase 1) | Apr 23, 2025 | Paid semi‑monthly; increase triggered by “Effective Event” |
| Annual Performance Bonus (Target) | Up to $816,000 pre‑Effective Event; up to $1,080,000 post‑Effective Event | Apr 23, 2025 | Awarded at Board’s discretion |
| Signing/Retention Bonus | $1,200,000 cash; paid in three tranches: first payroll after Q1’25 10‑Q filing; May 30, 2025; first payroll after Q2’25 10‑Q filing | Apr–Jun 2025 | Prorated clawback if employment <48 months; full clawback if terminated for Cause |
| At‑Will Employment | Yes | Apr 23, 2025 | Company/employee may terminate anytime; 30‑day notice requested for resignation |
Performance Compensation
“Stockholders First” Equity Award Program (Market Cap/Stock Price)
| Phase | Metric Trigger | Increment | Payout | Cap | Vesting/Validation |
|---|---|---|---|---|---|
| Phase 1 | Stock price increase from base (Effective Date close) OR Market cap increase from base (Yahoo Finance) | $5/share OR +$700M market cap | RSUs equal to 1% of then‑outstanding shares per milestone | 5% cumulative | Milestone must be sustained for 15 consecutive trading days; RSUs fully vest when awarded; excludes effects of splits/dividends/M&A |
| Phase 2 | After Phase 1 cap reached | $20/share OR +$3B market cap | RSUs equal to 1% of then‑outstanding shares per milestone | 9% cumulative | Same validation; milestones not double‑counted if levels are re‑reached |
Annual RSU/PSU Program (approved Sept 2024; continued as Co‑CEO)
| Award Type | Grant Value | Vesting | Conditions |
|---|---|---|---|
| Annual RSUs | $2.04 million grant date fair value | 25% annually over 4 years from Sept 4, 2024 | Board approval and share availability under 2021 Plan |
| Annual PSUs | $2.04 million target grant date fair value | 20% annually over 5 years from achievement date(s) | Performance metrics to be approved by Board |
| Late 2024 RSUs | 398,205 RSUs | Fully vested on Dec 3, 2024 | One‑time awards to named executives |
Equity Ownership & Alignment
| Item | Details | As of | Notes |
|---|---|---|---|
| Beneficial Ownership | 268,553 shares of Class A Common Stock; includes options to acquire 90 shares vesting/exercisable within 60 days | Aug 6, 2025 | Less than 1% of class; no reported sales since going public |
| Beneficial Ownership | 268,552 shares; includes options to acquire 89 shares within 60 days | Apr 17, 2025 | Less than 1% of class; no reported sales |
| Ownership Guidelines | Executives must hold: Global CEO 6x base salary; other execs 2x; directors 3x annual cash retainer; until met, must retain 50% of after‑tax shares from awards; status either compliant or within 5‑year phase‑in | Apr 17, 2025 | Company policy; not specific to individual status |
| Hedging/Pledging Policy | Prohibits short sales, margin accounts, pledging, derivatives/hedging (collars, swaps, etc.) | Apr 17, 2025 | Applies to directors, officers, employees, contractors |
| 10b5‑1 Purchases | Plans to buy ~$560,000 of common stock (after‑tax signing bonus) under Rule 10b5‑1 with 12‑month lock‑up; ~$180,000 purchased Sept 2, 2025 (remainder scheduled following week) | Apr–Sep 2025 | Alignment signal; purchases disclosed via press releases/8‑K |
Employment Terms
| Provision | Terms |
|---|---|
| Start Date & Role | Co‑Global CEO effective April 23, 2025; shares CEO duties with Matthias Aydt |
| Reporting Lines | Co‑manages finance, legal, supply chain; continues to oversee product, mobility ecosystem, I.A.I R&D; President reports to both Co‑CEOs |
| Severance | If terminated without Cause, resigns for Good Reason, or within 6 months after Change of Control and terminated without Cause: lump sum equal to 12 months base salary; immediate vesting of outstanding equity at greater of actual or 100% target (excludes Phase 1/2 equity awards from deemed performance satisfaction) |
| Good Reason | Significant reduction in duties/position without comparable role; base salary reduction not broadly applied; material breach by Company; notice/cure required |
Related Party Transactions and Governance Red Flags
| Category | Counterparty/Description | Amount/Terms | Date/Period |
|---|---|---|---|
| Consulting Services | FF Global (entity exercising significant Board control) monthly consulting fee $0.2M; reimburse expenses; paid $1.0M (2024) and $1.8M (2023); $2.0M payable as of Dec 31, 2024 | Ongoing; auto‑renewing 12‑month terms | 2023–2024 |
| Notes Payable – China | Leshi Small Loan Co., Ltd. (Chongqing) at 18% interest; principal $4.4M; accrued interest/penalties $23.1M after default/restructure; maturity Apr 2027 | Restructured Dec 2024; default penalties reinstated if re‑default | 2024 |
| Advertising Payable | LeTV (Shanghai‑listed; founded/controlled by Jia) related party accrued expenses $7.7M (2024); $7.5M (2023) | Outstanding payable | Dec 31, 2024 & 2023 |
| Property/Services | X‑Butler/Ocean View (entities linked to Jia); ~$0.1M paid for rent/services in each of 2024 & 2023; ~$0.3M A/P at 2024 YE | Historical employee housing/services | 2018–2024 |
| FFGP Notes | FFGP Investment Holding I, LLC (related party); unsecured notes ~$1.6M; defaults waived | Various | 2023–2024 |
| Equity/Trademark | Grow Fandor (influenced by Jia): $75k note; donation of 15,000,000 Class B shares of Grow Fandor; trademark license with royalties (greater of 50% net profit or 5% net sales) + $250k annual base fee | Initial license fee recorded as capital contribution | 2024 |
Company’s policy: related person transactions reviewed/approved by Audit Committee; must be in stockholders’ best interests .
Compensation Committee and Governance
- Compensation Committee members: Jie Sheng (Chair), Chad Chen, Lev Peker; independent under SEC/Nasdaq rules .
- Committee responsibilities include CEO goal setting/evaluation, exec compensation, equity plan oversight, risk monitoring, and ownership guidelines .
- As an Emerging Growth Company, FF is not required to hold say‑on‑pay votes; scaled compensation disclosure used .
Performance & Track Record
- FF initiatives under founder leadership: FX mass‑market strategy, AIHER/aiDriving development; targets include first FX vehicle off line by year‑end 2025 and “tens of thousands” units within two years of mass production (subject to funding and approvals) .
- Public statements emphasize linking incentives to stockholder returns via market cap/stock price milestones and personal share purchases with lock‑up .
Investment Implications
- Alignment signals: Mandatory 10b5‑1 purchases of ~$560k and equity awards fully contingent on sustained stock price/market cap milestones strengthen pay‑for‑performance incentives and reduce near‑term sell pressure due to 12‑month lock‑up .
- Dilution/financing risk: Multiple proposals to increase authorized shares (from 139.2M to 180.1M in April; to 250.4M in August) and amend the 2021 Plan by +9.5M shares underscore ongoing capital needs and potential dilution, particularly with convertibles/warrants outstanding .
- Governance/related‑party complexity: Significant payables and contracts with entities historically linked to Jia (LeTV, FF Global, X‑Butler, Grow Fandor, Chongqing) introduce conflict‑of‑interest scrutiny and execution risk, though the Audit Committee oversees such transactions .
- Execution risk: Minimal reported revenue and highly negative EBITDA across recent quarters stress liquidity and raise achievement risk for FX rollout and market‑cap based awards and EBITDA values from S&P Global.
Appendix: Additional Disclosures
- Beneficial ownership table confirms Jia’s <1% ownership; options exercisable within 60 days noted; no reported sales since IPO .
- Prohibition on hedging/pledging applies to all insiders; ownership guidelines require meaningful personal stake accumulation within five years .