Gideon Yu
About Gideon Yu
Gideon Yu (age 54) has served on Hanmi Financial Corporation’s Board since 2021 and is designated an independent director. He is a co-owner and former President of the San Francisco 49ers, and previously served as CFO of Facebook and YouTube; he was also a General Partner at Khosla Ventures and the first outside board member of Square. He holds a B.S. in Industrial Engineering & Engineering Management from Stanford University and an MBA from Harvard Business School .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Chief Financial Officer | — | Senior finance leadership in high-growth technology environment | |
| YouTube | Chief Financial Officer | — | Senior finance leadership in digital media |
| Khosla Ventures | General Partner | — | Led investment in Square; first outside board member |
| DLJ, Yahoo!, Disney, Hilton | Finance/Strategy roles | — | Diversified corporate finance/strategy experience |
| San Francisco 49ers | Co-owner; Former President | — | First person of color to serve as NFL team President |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| PGA of America | Board Member | — | Non-profit governance |
| Monterey Bay Aquarium | Board Member | — | Non-profit governance |
| Council of Korean Americans | Board Member | — | Community leadership |
Board Governance
- Committee assignments: Nominating & Corporate Governance (NCG) and Risk, Compliance & Planning (RCP); not a committee chair .
- Independence: Board determined all directors except the CEO are independent under Nasdaq standards; Gideon Yu is independent .
- Attendance: In 2024, the Board held nine joint meetings with Hanmi Bank; all directors attended more than 75% of aggregate Board and committee meetings, and attended the 2024 Annual Meeting .
- Committee activity levels: Audit (12 meetings), Compensation & Human Resources (7), NCG (4), RCP (8) in 2024—Yu served on NCG and RCP .
Fixed Compensation
| Component | Amount/Detail | Source/Notes |
|---|---|---|
| Fees earned (cash), FY2024 | $59,000 | Includes Board retainer and committee retainers under policy |
| Equity award, FY2024 | $65,004 grant-date fair value | 4,040 restricted shares granted on May 22, 2024; vest one year from grant; grant-date close $16.09 |
| Non-employee director policy (annual cash retainers) | Board $42,500; Audit $6,000; CHR $4,000; NCG $2,500; RCP $5,000; LCP $5,000; ALCO $3,000; Chairs: Audit $12,000; CHR $9,000; NCG $9,000; RCP $10,000; LCP $9,000; ALCO $9,000 | Annual restricted stock grant targeted at $65,000 value |
| Outstanding restricted shares at 12/31/2024 | 4,040 restricted shares (independent directors other than Ms. Ball) | One-year vest from grant date; no stock options outstanding |
Performance Compensation
- Non-employee directors receive time-based restricted stock (annual grant); no performance-vesting metrics (no PSUs or options disclosed for directors) .
- Company prohibits hedging and pledging of Company securities by directors .
- Clawback policy applies to executive incentive compensation; director equity grants are not performance-based .
Other Directorships & Interlocks
| Entity | Type | Potential Interlock/Conflict |
|---|---|---|
| PGA of America; Monterey Bay Aquarium; Council of Korean Americans | Non-profit | No related-party transactions requiring review were disclosed in 2024 . |
| San Francisco 49ers (co-owner; former President) | Private sports franchise | No related-party transactions requiring review were disclosed in 2024 . |
- Related-party transactions: The Bank reported no related-party transactions requiring review, approval, or ratification in 2024; lending relationships with directors are in the ordinary course and on market terms under applicable laws .
Expertise & Qualifications
- Technology/FinTech and high-growth operations experience (CFO roles at Facebook, YouTube; venture investing in Square) .
- Strategic risk oversight via RCP Committee membership; corporate governance via NCG membership .
- Education: Stanford B.S. (IE/EM); Harvard MBA .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Outstanding | Notes |
|---|---|---|---|
| Gideon Yu | 12,561 | <1% | Includes voting/investment power and rights exercisable within 60 days of 4/2/2025 |
| Director stock ownership guideline | 3x annual retainer; target met within 5 years | As of 12/31/2024, all directors met guidelines except Marasco (2024) and Ball (2025 new) | |
| Hedging/Pledging | Prohibited for directors | Policy covers short sales, hedging, margin/pledging |
Governance Assessment
-
Strengths
- Independent director with deep technology and venture finance background aligned to digital growth initiatives; serves on NCG and RCP, reinforcing governance and enterprise risk oversight .
- Attendance and engagement above thresholds; Board independence majority; separation of Chair and CEO roles supports oversight quality .
- Director compensation mix balanced (cash $59,000 vs equity $65,004 in 2024), plus stock ownership guidelines—signals alignment with shareholders; no hedging/pledging permitted .
- No related-party transactions requiring approval; strong controls including clawback policy and prohibitions on hedging/pledging .
- Say-on-Pay support (94.6% approval in 2024) indicates shareholder comfort with compensation governance framework .
-
Watch items / potential red flags
- Virtual-only annual meeting format may limit certain in-person shareholder interactions (mitigated by Q&A process); monitor engagement quality .
- No disclosed performance-based component in director equity (time-based restricted stock only); while common for banks, performance linkage for directors is not present .
Director Compensation Detail (Gideon Yu)
| Year | Cash Fees | Equity Grant | Shares Granted | Grant Date | Vesting | Fair Value |
|---|---|---|---|---|---|---|
| 2024 | $59,000 | Restricted Stock | 4,040 | May 22, 2024 | 1-year cliff | $65,004 (close $16.09) |
Committee Assignments & Engagement
| Committee | Role | 2024 Meetings | Notes |
|---|---|---|---|
| Nominating & Corporate Governance (NCG) | Member | 4 | Oversees governance guidelines and Board effectiveness; sustainability oversight via subcommittee |
| Risk, Compliance & Planning (RCP) | Member | 8 | Oversees enterprise risk, strategic planning; quarterly enterprise risk reviews |
Section 16 / Insider Trades
| Item | Status |
|---|---|
| Section 16 filings | All Officers and Directors timely filed for 2024 except late reports for April 1, 2024 awards and Director James A. Marasco; no late report indicated for Gideon Yu |
Signals for Investors
- Board effectiveness: Yu’s technology/fintech expertise complements Hanmi’s digital and C&I growth strategy, and his service on RCP and NCG strengthens risk and governance oversight .
- Alignment: Balanced cash/equity director pay and stock ownership guidelines, with clear prohibitions on hedging/pledging, indicate alignment and risk discipline .
- Conflicts: No related-party transactions requiring review involving directors in 2024; no family relationships among nominees; mitigates conflict risk .
- Compensation governance: Independent CHR Committee, use of independent consultant (Aon), and robust clawback policy bolster investor confidence in compensation oversight .