Erica Xiaoyang Wei
About Erica Xiaoyang Wei
Erica Xiaoyang Wei is GigaCloud Technology’s Chief Financial Officer (CFO); she served as Interim CFO beginning August 19, 2024 and became CFO in March 2025. She previously was Vice President of Finance (Aug 2023–Aug 2024) and spent nearly a decade at PwC Los Angeles, rising to Senior Manager; she holds a B.S. in Accounting from the University of Southern California and is 34 years old . In her appointment, the Board set compensation terms at a monthly base salary of $25,647.10 with $100,000 per annum in other compensation payable in cash or Class A shares, plus eligibility for share incentives and discretionary performance bonuses; she entered the standard executive indemnification agreement . Company performance context during her tenure: total revenues grew from $703.8M (2023) to $1,161.0M (2024) and net income from $94.1M (2023) to $125.8M (2024); TSR since IPO measured as $118.04 on a $100 investment in 2024 vs $36.27 in 2022 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| GigaCloud Technology Inc | CFO | Mar 2025–present | Finance leadership; continued execution of capital allocation and investor engagement; appointment terms include $100,000 per annum other compensation in cash or shares and discretionary bonus eligibility |
| GigaCloud Technology Inc | Interim CFO | Aug 19, 2024–Mar 2025 | Assumed principal financial and accounting officer duties during CFO transition |
| GigaCloud Technology Inc | VP Finance | Aug 2023–Aug 2024 | Led transition to U.S. domestic issuer and SOX 2002 compliance initiatives |
| PwC Los Angeles | Senior Manager, Audit | 2013–2023 | Audited Fortune 500 clients; developed technical accounting and controls expertise |
External Roles
No public company directorships or external governance roles disclosed for Wei. Background reflects prior employment at PwC Los Angeles .
Fixed Compensation
| Component | 2024 | 2025 (Appointment Terms) |
|---|---|---|
| Base Salary | $307,765 (annualized; adjusted upon Interim CFO appointment in Aug 2024) | $25,647.10 per month (annualizes to ~$307,765) |
| Other Compensation | — | $100,000 per annum (cash or Class A shares) |
| Target Bonus % | Not disclosed | Discretionary performance-based bonus eligibility; amounts at company’s discretion |
| Actual Bonus Paid | $0 (no non‑equity incentive for Wei in 2024) | Not disclosed |
Performance Compensation
| Metric / Award | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| CFO annual equity award (service-based) | N/A | $100,000 per 12‑month service period | 6,000 RSUs granted Apr 1, 2024; grant-date fair value $184,740 | RSUs settled in Class A shares; Wei had 6,000 shares acquired on vesting with value realized $184,740 in 2024 | CFO awards vest upon fulfillment of 12‑month service condition; RSUs generally either 50% immediate/50% at 12 months or 100% immediate upon grant, per plan design |
| Company cash incentive framework (context; Wei not a participant in 2024) | Company-wide | 1P profit and GigaCloud Marketplace GMV (targets undisclosed) | “Generally successfully achieved” for eligible NEOs in 2024 | Monthly formula: Target Bonus Opportunity × Company Performance Goal × Individual Modifier; no cap if performance significantly exceeds target | Paid monthly as measured; one-time year-end award for meeting annual goal |
Note: Wei was not listed as eligible for the 2024 company cash incentive program; her compensation emphasizes salary and equity/service-based awards .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total beneficial ownership | 6,000 Class A shares (direct) |
| Ownership % of outstanding | Less than 1% of total shares |
| Vested vs unvested shares | Vested: 6,000 (2024 stock vested table); Unvested: 0 reported at year-end 2024 |
| Options (exercisable/unexercisable) | None; NEOs held no options at 12/31/2024 |
| Pledging / hedging | Anti-hedging and anti-pledging policy prohibits hedging and pledging company securities; exceptions require pre-approval . Company not aware of any shares pledged by directors or executive officers |
| Ownership guidelines | Not disclosed |
Employment Terms
| Term | Provision |
|---|---|
| Appointment & tenure | Interim CFO effective Aug 19, 2024; appointed CFO by Board Feb 26, 2025; served as CFO since March 2025 (proxy record date) |
| Employment agreement | At-will; participates in share incentive plans and employee benefit plans |
| Severance / notice | If terminated without cause or resigns for good reason: continued pay and benefits during notice period; 30 days’ notice for company termination; 60 days’ notice for resignation with good reason; any additional amounts “as may be agreed” |
| Non-compete / non-solicit | Two-year post-termination noncompetition and nonsolicitation covenants |
| Change-of-control | No additional change-of-control severance or accelerated vesting provisions beyond standard employment agreement terms |
| Clawback | Policy adopted Oct 2, 2023; recover incentive-based compensation (including equity) in event of accounting restatement |
| Insider trading policy | Amended and restated Jan 1, 2024; prohibits hedging and pledging (margin purchases also prohibited) |
| Indemnification | Standard executive indemnification agreement executed upon appointment ; company indemnifies directors/officers to fullest extent permitted (subject to exceptions) |
Performance & Track Record
- Operational and capital allocation execution: As CFO, Wei highlighted active buybacks under an authorized program increased to $62M and repurchases to date of approximately 3.7M shares for ~$61.8M, with intent to retire repurchased shares .
- Controls and reporting: SOX 302 certification attests to disclosure controls and internal control over financial reporting effectiveness in Q2 2025 .
- Company outcomes (context): Revenues rose to $1,161.0M and net income to $125.8M in 2024; Pay‑vs‑Performance table shows TSR value of $118.04 on $100 invested for 2024, with peer group TSR of 177.16 (Dow Jones Internet Commerce Index) .
Board Governance (Context)
- Compensation Committee: Jan William Visser (Chair), Zhiwu Chen, Lorri Kelley; all independent; reviewed and approved NEO compensation, equity grants, and recovery (clawback) policy .
- Committee activity: Compensation Committee held two meetings and acted by unanimous written consent twice in 2024 .
Fixed Compensation — Detail Table (Wei)
| Year | Salary ($) | Non-Equity Incentive ($) | Stock Awards ($) | Other ($) | Total ($) |
|---|---|---|---|---|---|
| 2024 | 272,432 | — | 184,740 | — | 457,172 |
| Appointment Terms (2025) | $25,647.10/month base | Discretionary eligibility | Eligibility under share incentive plan | $100,000 per annum (cash or shares) | — |
Equity Grants & Vesting — Detail Table (Wei)
| Grant Type | Grant Date | Shares (#) | Grant-Date Fair Value ($) | Vesting Outcome (2024) |
|---|---|---|---|---|
| RSUs | Apr 1, 2024 | 6,000 | 184,740 | 6,000 vested; value realized $184,740 |
Equity Ownership — Detail Table (Wei)
| Title of Security | Shares Beneficially Owned | Ownership Form | Percent of Class |
|---|---|---|---|
| Class A Ordinary Shares | 6,000 | Direct | <1% |
Risk Indicators & Red Flags
- Hedging/pledging: Prohibited; no pledges reported, lowering alignment risk from collateral use .
- Related party transactions: None disclosed for Wei under Item 404(a) at appointment .
- Legal proceedings/SEC investigations: None disclosed in reviewed filings.
- Option repricing/tax gross-ups: No option awards outstanding; no gross-ups disclosed for executives .
- Say-on-pay: 2025 advisory vote proposed; frequency recommendation of three years; specific vote outcomes not included here .
Compensation Structure Analysis
- Cash vs equity mix: Wei’s structure emphasizes fixed salary (~$308k annualized) plus $100k per annum in cash or share award; 2024 stock awards of $184,740 indicate a tilt toward equity for alignment but not tied to explicit performance metrics for the CFO .
- Performance metrics: Company-wide metrics (1P profit, GMV) drive cash incentives for other NEOs; Wei did not participate in 2024, implying less formulaic pay‑for‑performance linkage in her compensation .
- Vesting structures: RSUs often vest 50% immediately and 50% after 12 months, or 100% immediately, which can balance retention with liquidity; CFO awards vest upon 12-month service condition per employment terms .
- Change-of-control economics: No additional change-of-control severance or acceleration provisions disclosed for Wei, limiting shareholder dilution risk from parachutes .
- Clawback: Robust recoupment aligned with post‑IPO governance .
Investment Implications
- Alignment: Wei’s ownership is modest (6,000 shares, <1%); anti‑hedging/anti‑pledging rules plus annual equity/cash award support alignment, though the absence of explicit CFO performance metrics reduces pay‑for‑performance transparency .
- Retention: Two‑year non‑compete/non‑solicit and notice‑period severance reduce near‑term retention risk; vesting structures with service conditions add stickiness, although immediate vesting components can temper long‑term retention .
- Governance and risk: Standard indemnification and clawback guardrails are in place; no change‑of‑control entitlements curtail parachute risk and potential overhang .
- Trading signals: CFO has overseen active buybacks (approx. 3.7M shares repurchased for ~$61.8M, intended for retirement), signaling confidence and potential EPS accretion; continued execution of disciplined capital allocation merits monitoring alongside revenue and net income trajectory .