Agnes Tang
IPG PHOTONICSAbout Agnes Tang
Independent director of IPG Photonics; Founding Partner at Ducera Partners LLC. Age 51, director since 2022, with a BA in Economics from Northwestern University and an MBA from Harvard Business School. Background includes investment banking and strategy consulting with specialization in complex, multi-dimensional situations, M&A, capital advisory, and restructuring. Core credentials: financial literacy, global business, business development/M&A, risk management; currently serves on the Audit Committee.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Ducera Partners LLC | Founding Partner | 2015–present | Strategic advisory, M&A, capital advisory, restructuring advisory |
| Perella Weinberg Partners (NY) | Managing Director | 2008–2015 | Investment banking leadership |
| Houlihan Lokey | Investment banking professional | Not disclosed | Corporate finance experience |
| Oliver Wyman (Marsh & McLennan) | Strategy consultant | Not disclosed | Strategy consulting exposure |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| McClatchy Media Company (private) | Director | Joined Jan 2025 | Privately held publishing company |
| Other public company boards | — | — | None disclosed for Ms. Tang |
Board Governance
- Committee assignments: Audit Committee member; not a chair. Audit Committee comprised entirely of independent directors and financially literate members.
- Independence: Board determined Tang is independent under Nasdaq and SEC rules; Audit Committee membership requires independence.
- Attendance: In 2024 the Board held 7 meetings; Audit Committee held 8; all incumbent directors attended ≥75% of aggregate Board and committee meetings.
- Executive sessions: Independent directors meet privately at least four times per year; sessions led by non-executive Chair John Peeler.
2024 Meeting Cadence (Board-wide)
| Body | Meetings Held | Written Consents |
|---|---|---|
| Board of Directors | 7 | 5 |
| Audit Committee | 8 | 0 |
| Compensation Committee | 9 | 3 |
| Nominating & Corporate Governance | 5 | 0 |
Fixed Compensation
| Component | 2024 Amount ($) | Notes |
|---|---|---|
| Board retainer | 40,000 | Paid in cash; no meeting fees |
| Audit Committee retainer (non-chair) | 12,500 | Applies to members who are not chair |
| Total cash fees (Tang) | 52,500 | Sum of board and audit retainers |
- Program features: No meeting fees or perquisites; directors do not have a retirement plan. Reviewed every other year; FW Cook engaged in 2024.
Performance Compensation
| Equity Type | Grant Date | Units | Grant-date Fair Value ($) | Vesting Terms |
|---|---|---|---|---|
| RSUs (annual director grant) | Jun 18, 2024 (annual awards) | 3,022 (unvested at 12/31/24) | 249,950 | Single installment on earlier of 1-year anniversary or next annual meeting |
- Option awards: Company no longer grants stock options to non-employee directors; Tang holds no options. All previously-granted director options were vested as of Dec 31, 2024.
- Performance metrics tied to director pay: None disclosed; director equity is service-based RSUs only (no performance conditions).
Performance Metric Table (Director Pay)
| Metric | Target | Measurement | Outcome |
|---|---|---|---|
| Performance-vested equity (directors) | Not applicable | Not applicable | No performance metrics disclosed; RSUs are time-based |
Other Directorships & Interlocks
| Company | Type | Role | Interlocks/Conflicts |
|---|---|---|---|
| McClatchy Media Company | Private | Director | No IPG-related transactions disclosed |
| Public company boards | — | — | None disclosed for Tang; no public interlocks identified |
- Related party oversight: Audit Committee reviews and approves related-party transactions.
- Independence review: NCGC found no material relationships for independent directors in 2023–2024; Tang confirmed independent.
Expertise & Qualifications
- Education: BA Economics (Northwestern), MBA (Harvard Business School).
- Core skills: financial literacy, global business, business development/M&A, risk management.
- Career specialization: Strategic advisory in complex and high-risk situations; operational and financial acumen.
Equity Ownership
| Item | Amount | Notes |
|---|---|---|
| Shares owned (direct) | 3,763 | As of Mar 31, 2025 |
| Right to acquire within 60 days | 3,022 | Likely RSUs vesting within 60 days |
| Total beneficial ownership | 6,785 | Less than 1.0% of shares outstanding (42,729,426) |
| Unvested RSUs (12/31/24) | 3,022 | Director RSUs time-based vesting |
| Shares pledged as collateral | Prohibited | Anti-pledging/hedging policy bans pledging for directors/officers |
| Ownership guidelines | 5x annual Board retainer | All directors in compliance as of Dec 31, 2024 |
Governance Assessment
- Board effectiveness: Tang’s Audit Committee role supports oversight of financial reporting, internal control, auditor independence, and related-party review; the Board deems Audit Committee members independent and financially literate.
- Alignment: Director stock ownership guidelines (5x retainer) and anti-hedging/anti-pledging policies strengthen alignment with shareholders; all directors were compliant as of Dec 31, 2024.
- Compensation structure: Simple, transparent mix with cash retainers and service-based RSUs; no meeting fees or perquisites; external consultant FW Cook reviewed director pay in 2024; Aon reviewed in 2023.
- Attendance and engagement: Board and committees met regularly in 2024; all incumbents met ≥75% attendance.
- RED FLAGS: Administrative lapse—Form 4 for annual RSU award filed late (due Jun 21, 2024; filed Jun 28, 2024) for several directors including Tang; isolated timing issue, not an independence or related-party concern.
- Shareholder sentiment: Say-on-pay approval exceeded 96% in 2024, indicating broad investor support for compensation governance at IPG.
Insider Trades (Section 16)
| Date | Form | Subject | Notes |
|---|---|---|---|
| Jun 18, 2024 | Form 4 | Annual RSU award | Not timely filed; due Jun 21, 2024; filed Jun 28, 2024 (applies to multiple directors incl. Tang) |
Compensation Committee Analysis (Context)
- Director compensation oversight and benchmarking conducted by independent consultants (FW Cook in 2024; Aon in 2023); program emphasizes equity alignment and leadership retainers without meeting fees/perks.
Related-Party Transactions
- Governance controls: Audit Committee charter includes responsibility to review and approve related-party transactions; no Tang-related transactions disclosed.
Say-on-Pay & Shareholder Feedback
- 2024 advisory vote: Over 96% approval of NEO compensation; reflects investor confidence in compensation governance framework.
Expertise & Qualifications
- Degrees: BA Northwestern; MBA Harvard Business School.
- Skills: Financial literacy, global business, M&A, risk management.
Equity Ownership
- See table above; beneficial ownership totals 6,785 shares (<1%), including RSUs vesting within 60 days; compliant with stock ownership guidelines.
Governance Summary for Investors
- Strengths: Independent Audit Committee membership, regular meeting cadence and attendance, strong ownership and anti-pledging policies, simple director pay structure with equity alignment, no disclosed conflicts/related-party links for Tang.
- Watch items: Administrative timeliness on Form 4 filings in 2024; monitor future reporting cadence though no pattern beyond the cited instance.