Bin Wang
About Bin Wang
Bin Wang (age 67) has served as an independent director of Fly‑E Group, Inc. since June 2024, bringing 30+ years of financial industry management experience and is designated the Audit Committee financial expert under SEC rules . His education includes Northwestern Polytechnic University (1980), M.S. Mechanical Engineering from Xi’an Jiaotong University (1983), and M.A. Economics from Illinois State University (1992) . He is independent under Nasdaq rules and currently has no disclosed beneficial ownership of FLYE common stock .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Alberton Acquisition Corp. (Nasdaq-listed SPAC) | Chairman & CEO | 2018–2020 | Led public company operations and transactions |
| Sky Digital Stores Corp. (OTC: SKYC) | Independent Director | 2010–2012 | Participated in public listing process |
| JPMorgan Chase (post‑merger) | Various management roles, international business | 2000–2006 | Growth and development of international business |
| Chase International Financial Services | Vice President & Team Leader (Asia‑Pacific) | 1996–2000 | Promoted bank business in APAC region |
| Chemical Bank | Commercial Banking Manager (Asian market) | 1994 | Managed Asian market banking |
| Corporate advisory (US/Asia) | Managing/Advisory roles for corporate clients | 2007–2018 | Dozens of clients; corporate advisory services |
External Roles
| Organization | Role | Since | Notes |
|---|---|---|---|
| Eon Capital International Ltd (Hong Kong) | Managing Director | Current | Corporate advisory services |
| Maison Solutions Inc. (Nasdaq) | Director | 2023–present | Public company board experience |
Board Governance
- Committee assignments: Audit Committee chair; Compensation Committee member; Nominating & Corporate Governance Committee member .
- Audit Committee: three independent directors (Wang—chair, Lun Feng, Zanfeng Zhang); Wang is the SEC-defined “audit committee financial expert” .
- Compensation Committee: three independent directors (chair: Lun Feng; members: Bin Wang, Zanfeng Zhang) .
- Nominating & Governance Committee: three independent directors (chair initially Zanfeng Zhang; members: Bin Wang, Lun Feng) .
- Governance update: Effective September 17, 2025, Leqi Dong was appointed an independent director; Chair of Nominating & Governance; member of Audit and Compensation Committees (committee composition refreshed; Audit chair not changed in the filing) .
- Independence status: The company believes Messrs. Wang, Feng, and Zhang are independent under Nasdaq rules; indemnification agreements in place for directors .
Fixed Compensation
| Metric | FY 2025 | Notes |
|---|---|---|
| Annual cash retainer (per Independent Director Agreement) | $50,000 | Agreement entitles Wang to $50,000; Feng also $50,000; Zhang $30,000 |
| Cash compensation actually paid (year ended Mar 31, 2025) | $37,500 | Likely pro‑rated for partial year service starting June 2024 |
| Stock awards (FY 2025 director compensation table) | — | No director stock awards disclosed in FY 2025 |
| Total director compensation (FY 2025) | $37,500 | As reported in proxy/10‑K |
Performance Compensation
| Item | Status | Evidence |
|---|---|---|
| RSUs/PSUs (directors) | None disclosed for FY 2025 | Director stock awards column is “—” |
| Options (directors) | None disclosed for FY 2025 | No options shown in director compensation table |
| Equity plan availability | 2024 Plan reserved 740,000 shares; no grants issued under plan to date | Company states no awards issued under 2024 Plan |
| Performance metrics tied to director pay | Not disclosed | No metrics tied to director compensation in filings |
| Change‑of‑control provisions (plan) | Awards may be assumed/continued or substituted; rights protected; but no awards outstanding for directors | Plan terms for change‑of‑control; no issued grants |
| Clawbacks/Tax gross‑ups | Not disclosed for directors | No director‑specific clawback/tax gross‑up disclosures located |
Other Directorships & Interlocks
| Company | Role | Overlap/Interlock | Notes |
|---|---|---|---|
| Maison Solutions Inc. (Nasdaq) | Director | None disclosed with FLYE | External public company role |
| Alberton Acquisition Corp. | Chairman & CEO (former) | None disclosed with FLYE | SPAC leadership history |
| Sky Digital Stores Corp. (OTC: SKYC) | Independent Director (former) | None disclosed with FLYE | Prior public company governance |
Related‑party transactions in Item 13 involve PJMG LLC (former CFO’s consulting entity), DF Technology US Inc (former CFO’s entity), and Fly E Bike SRL (CEO’s entity); none are disclosed as involving Bin Wang .
Expertise & Qualifications
- Financial services leadership across JPMorgan/Chase/Chemical Bank; corporate advisory across US/Asia .
- Audit Committee financial expert designation; chair of Audit Committee .
- External public board experience (Maison Solutions) broadens governance perspective .
- STEM and economics academic background aligns with technical and financial oversight .
Equity Ownership
| Holder | Shares Beneficially Owned | % Ownership | Notes |
|---|---|---|---|
| Bin Wang | — | —% | No beneficial ownership disclosed as of record dates in filings |
Stock ownership guidelines and pledging/hedging policies for directors are not disclosed; no shares or awards reported for Wang; thus alignment currently relies on cash retainer rather than equity .
Governance Assessment
- Strengths: Audit Committee chair and SEC‑defined financial expert—appropriate oversight for a smaller reporting company with identified internal control material weaknesses; independence affirmed under Nasdaq rules .
- Alignment concern: No disclosed share ownership and no equity grants under the plan reduces direct long‑term alignment vs. shareholders; director pay appears all cash in FY 2025 (no stock awards) .
- Committee coverage: Wang’s roles across Audit, Compensation, and Nominating support board effectiveness; 2025 refresh added Leqi Dong as Nominating chair, expanding independent oversight while leaving Audit leadership with Wang .
- Conflict oversight: Item 13 lists notable related‑party transactions tied to other executives/parties (consulting, software, distribution); Audit Committee responsibilities include reviewing related‑person transactions—Wang’s chair role is central to monitoring and mitigation .
RED FLAGS
- No equity ownership or grants reported for Wang (alignment gap vs. at‑risk pay) .
- Company‑level risks: internal control material weaknesses and going‑concern disclosure heighten the importance of Audit leadership; while not attributable to Wang personally, they increase governance sensitivity during his tenure .
- Significant related‑party transactions (not involving Wang) require strong Audit oversight to avoid conflicts and ensure fair dealing .
Notes
- Board meeting attendance rates are not disclosed in available proxy/10‑K materials; executive sessions frequency not disclosed – –.
- Director indemnification agreements are in place for all directors, including independents .