Chui Tin Mok
About Chui Tin Mok
Executive Vice President and Global Head of User Ecosystem since August 2018; Director since January 25, 2023. Age 49; education includes a Higher Diploma in Building Service Engineering (Hong Kong Institute of Vocational Education) and an Executive MBA (International Business Academy of Switzerland). Background spans senior marketing/sales roles at LeEco (Group CMO; CEO APAC), Meizu (Global VP Sales/Marketing), and president of EFT Solutions Limited (HKEx:8062) . As an emerging growth company, FFIE does not provide TSR, revenue, or EBITDA performance attribution tied to individual executives in proxies; no TSR disclosure for Mok was found in the 2024/2025 proxy materials .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Trend Lab Limited | Founder | Jan 2017– | Founded marketing/tech consultancy |
| EFT Solutions Limited (HKEx:8062) | President | Sep 2017–Jan 2018 | Led payments solutions platform |
| LeEco Group | Group Chief Marketing Officer; CEO, LeEco APAC | 2013–2017 | Drove brand/market expansion across tech ecosystem |
| Meizu Technology Co., Ltd. | Global VP of Sales & Marketing | 2010–2013 | Scaled global smartphone sales/marketing |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| None disclosed | — | — | No current external public-company directorships disclosed in FFIE filings reviewed |
Fixed Compensation
| Metric | FY 2022 | FY 2023 |
|---|---|---|
| Base Salary ($) | 500,000 | 433,250 |
| Target Bonus ($) | 300,000 (offer letter) | 300,000 (eligibility disclosed) |
| Actual Bonus Paid ($) | — | 5,000 |
Additional fixed incentive: Signing/retention cash bonus of $1,000,000 vesting over 60 months through October 2023, per offer letter dated October 10, 2018 .
Performance Compensation
| Component | Metric | Weighting | Target | Actual | Payout Mechanics | Vesting |
|---|---|---|---|---|---|---|
| SOP/SOD Incentive RSUs | Operational milestones: FF 91 start of production (by Mar 31, 2023) and start of delivery (by Apr 30, 2023) | Not disclosed | RSU grant value of 150%–300% of annual target bonus (at Committee discretion) | Not disclosed | RSUs granted upon Delivery Condition; three equal annual tranches subject to continued employment | 3-year annual vest; service-based |
| Stock Options (11/23/2022 grant) | Start of production of FF 91 model | Not disclosed | Not applicable | Not disclosed | 50% vested at grant; remaining 50% vests in four equal annual installments on each of the first four anniversaries of SOP, subject to continued employment | Four annual tranches post-SOP |
Note: FFIE is EGC and does not provide CD&A-style weighting details; committee retains discretion and uses Mercer as independent consultant .
Equity Ownership & Alignment
| Item | As of Jun 18, 2024 | As of Jan 28, 2025 |
|---|---|---|
| Beneficial Ownership (shares) | 4,895; includes options exercisable within 60 days (4,189) | 18,481; includes options exercisable within 60 days (117) |
| Ownership % of Shares Outstanding | <1% | <1% |
| Options – 2019 grant | Exercisable 2,969; Unexercisable 568; Strike $612.00; Exp. 5/30/2029 | — |
| Options – 2020 grant | Exercisable 872; Unexercisable 100; Strike $577.50; Exp. 7/26/2030 | — |
| Options – 2022 grant | Exercisable 6; Unexercisable 5; Strike $213.60; Exp. 11/23/2032 | — |
| FFIE Closing Price (12/29/2023) for reference | $0.693 (used by FFIE to compute market values) | — |
| Hedging/Pledging | Prohibited by insider trading policy (no short sales, margin accounts, pledging, derivatives) | Prohibited |
| Ownership Guidelines | 2x base salary for other executive officers; 50% post-tax retention until compliant; 5-year phase-in. Company states all covered executives/directors were compliant or within phase-in at record date | Same |
| Insider Selling | Company states Mr. Mok has not sold any shares since FFIE became public |
Vesting schedules for select awards:
- 2019 option tranches vest monthly over multi-year schedules; specific tranche counts/dates detailed in proxy footnotes .
- 2020 option tranches vest monthly over 2024–2026; specific tranche counts/dates detailed in proxy footnotes .
- 2022 option: 50% immediate; 50% over four annual SOP anniversaries .
Late 2024 RSU grants to executives (including Mok) were reported as fully vested on December 3, 2024; Mok RSUs of 31,965 are disclosed as fully vested in late-2024 grants, indicating potential near-term share supply following vesting and settlement .
Related party interests:
- Mok holds FF Global units and has historical loan arrangements with Dream Sunrise; notes were amended/restated in 2022; FF Global paid down portions of related obligations in 2022/2023 .
Employment Terms
- Offer letter (Oct 10, 2018): Base salary $500,000; $1,000,000 signing/retention bonus vesting over 60 months through Oct 2023; discretionary annual performance bonus target $300,000; benefits participation .
- Severance and change-of-control: No severance or change-of-control economics disclosed for Mok in reviewed proxy materials; severance terms are disclosed for other executives (e.g., Han) but not for Mok .
- Non-compete/non-solicit/garden leave: Not disclosed in Mok’s offer letter summary .
Board Governance
- Board service: Director since January 25, 2023; designated as an FF Top Designee under the Amended and Restated Shareholder Agreement .
- Committee roles: Member, Finance and Investment Committee (not chair) .
- Independence: Not independent; Board’s independent directors are Chad Chen, Jie Sheng, and Lev Peker .
- Board/committee activity: Board held 38 meetings in FY2023; each director attended ≥75% of combined Board/committee meetings during their service period .
- Governance dynamics: FF Top retains rights to nominate designees (including committee representation proportionate to Board seats); Board size and composition subject to FF Top rights under the A&R Shareholder Agreement .
Director Compensation
- Mok is an employee director; proxy materials disclose non-employee director compensation policy elsewhere, but do not indicate additional director fees for employee directors. No separate director compensation for Mok is disclosed in reviewed filings .
Compensation Structure Analysis
- Shift toward operational milestone-linked equity: RSUs/option vesting tied to FF 91 production/delivery milestones aligns incentives with product execution, rather than financial metrics like revenue/EBITDA .
- Options currently far out-of-the-money vs 12/29/2023 closing price ($213.60–$612.00 strikes vs $0.693), reducing near-term option exercise/selling pressure .
- Guaranteed/retention compensation: The $1,000,000 retention bonus vested through Oct 2023 provides historical retention support; current severance economics for Mok not disclosed, raising uncertainty on exit terms .
- Pay governance: EGC status—no say-on-pay votes; Compensation Committee (independent) uses Mercer as advisor .
Risk Indicators & Red Flags
- Related party transactions: FF Global unit and Dream Sunrise loan arrangements require monitoring for potential conflicts and future disclosures .
- Governance concentration: FF Top nomination/committee rights may raise independence concerns for oversight given Mok’s dual role as executive and director .
- Dilution/financing environment: Company reliance on convertible notes/warrants and repeated share authorization increases pose dilution risk; while not executive-specific, it can influence equity incentive value realization .
Expertise & Qualifications
- Domain expertise in user ecosystem, marketing and sales across tech and mobility; senior leadership across APAC; formal technical and business education .
Say-on-Pay & Shareholder Feedback
- FFIE is an emerging growth company and is not required to conduct advisory votes on executive compensation or frequency; no say-on-pay results are provided .
Equity Ownership & Alignment Detail – Outstanding Awards (12/31/2023)
| Grant | Exercisable (#) | Unexercisable (#) | Strike ($) | Expiration |
|---|---|---|---|---|
| 5/30/2019 Option | 2,969 | 568 | 612.00 | 5/30/2029 |
| 7/26/2020 Option | 872 | 100 | 577.50 | 7/26/2030 |
| 11/23/2022 Option | 6 | 5 | 213.60 | 11/23/2032 |
Vesting footnotes and schedules for these awards are detailed in the proxy, including SOP-linked vesting for the 2022 option grant .
Investment Implications
- Alignment: Milestone-tied equity (SOP/SOD) aligns Mok’s incentives with FF 91 execution; anti-hedging/pledging and ownership guidelines support alignment, and proxies state he has not sold shares since listing .
- Selling pressure: Deeply out-of-the-money options reduce near-term exercise-driven sales; however, late-2024 RSUs that were reported as fully vested on Dec 3, 2024 could add tradable share supply once settled .
- Retention risk: Historical $1M retention bonus has fully vested; absence of disclosed severance/change-of-control terms for Mok creates uncertainty on exit economics vs peers, though milestone-linked vesting provides ongoing retention hooks .
- Governance: As an FF Top Designee and executive director on the Finance & Investment Committee, independence concerns exist; monitoring committee decisions and financing choices is prudent for governance risk assessment .