Wenbing Christopher Wang

About Wenbing Christopher Wang

Independent director at IT Tech Packaging, Inc. (ITP) since October 28, 2009; age 55; MBA in finance and corporate accounting from the Simon Business School (University of Rochester). Former CFO of Phoenix Motor Inc. (Nasdaq: PEV) from June 2021 to March 2024; President and Director of FushiCopperweld, Inc. since January 21, 2008 (prior CFO 2005–2009). Designated an audit committee financial expert; fluent in English and Chinese; named one of China’s top ten CFOs in 2007 by CFO Magazine .

Past Roles

External Roles

Board Governance

• Independence: Board identifies Mr. Wang as independent under NYSE American standards .
• Committee assignments: Audit Committee (member); Compensation Committee (member); Nominating Committee (chair) .
• Financial expertise: Designated audit committee financial expert (with Marco Ku) .
• Meeting cadence and attendance (FY2024): Board 6; Audit 6; Compensation 1; Nominating 1. Each director attended at least 75% of meetings of the Board and applicable committees .
• Board structure: Combined Chair/CEO (Zhenyong Liu). Risk oversight allocated to Audit, Compensation, and Nominating committees; related-party transactions approved by the Board (no formal written policy beyond case-by-case review) .
• Insider Trading Policy: Adopted; blackout periods and compliance noted (referenced as Exhibit 19 to 2024 10-K) .

Fixed Compensation

• Structure: Annual compensation of $20,000 payable monthly; no committee chair fees disclosed for Wang .

Performance Compensation

• No equity grants to Wang were reported for 2023–2024 .

Performance metric framework (plan-level, applicable to any future director awards under 2025 Plan):

• Awards available: Options, RSUs, Performance Stock/Units, SARs, Unrestricted/Restricted Stock .
• Performance awards: Committee-set goals and periods; distribution in shares/cash upon achievement (no specific metrics disclosed in proxy) .
• Clawback: Performance-based awards subject to reduction/forfeiture/repayment upon financial restatement as required by law .
• Change-of-control: Committee can accelerate, cash out, assume, or adjust awards; no automatic single-trigger specified (committee discretion) .
• Repricing: Prohibited without shareholder approval (except for equitable adjustments/CoC) .

Other Directorships & Interlocks

Expertise & Qualifications

• Audit and financial expertise (audit committee financial expert) .
• MBA in finance and corporate accounting (Simon Business School, University of Rochester) .
• Senior operating and CFO experience across manufacturing, EV/transport, and finance (Phoenix Motor; Fushi; Credit Suisse First Boston; Redwood Capital; VC China) .
• Bilingual (English/Chinese); prior recognition as a top CFO in China (2007) .

Equity Ownership

• Pledging/Hedging: Not disclosed in proxy.
• Ownership guidelines: Not disclosed in proxy.

Insider Trades

Governance Assessment

• Positives:
  • Independent since 2009 with deep finance background; chair of Nominating and designated audit committee financial expert, supporting board oversight and financial reporting quality .
  • Attendance met threshold (≥75%); committee structure is fully independent .
  • Additional public company board exposure (Metalpha) and recent public-company CFO experience broaden perspective .
• Watch items/Red flags:
  • Combined CEO/Chair structure concentrates power; independent committees partially mitigate but places more weight on committee chairs (Wang chairs Nominating) .
  • Related-party transactions with CEO and absence of a formalized written related-person transaction policy beyond case-by-case review may elevate conflict risk; no Wang-specific related-party transactions disclosed .
  • Low personal ownership (<1%) may limit alignment vs. larger equity holders, though director compensation is modest and historically included some equity grants .

Appendix: Committee Summary