Christina Tan
DORIAN LPGAbout Christina Tan
Christina Tan (age 72) is an independent director of Dorian LPG Ltd. (LPG) serving since May 1, 2015. She is CEO of MT Maritime Management (USA) LLC (since 2020) and brings over 30 years of shipping and maritime investment experience; she holds a BA in Economics and Mathematics from Western State College of Colorado . The Board has determined she meets NYSE independence standards, and she serves on the Audit and Nominating & Corporate Governance Committees; the Board identifies her as an Audit Committee “financial expert” under SEC rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| MT Maritime Management Group | Officer across finance and chartering | Over 30 years | Long-standing shipping and maritime investment experience |
| Northern Shipping Funds | Board member | 2008–2015 | Continued as LP Advisory Committee (LPAC) member through Mar 31, 2023 |
| Socoil Corporation | Vice President, Finance & Trading | 8 years prior to joining MTM Group | Finance/trading leadership |
External Roles
| Organization | Role | Start Date | Committees/Notes |
|---|---|---|---|
| Pangaea Logistics Solutions | Director | Feb 2025 | Not disclosed |
Board Governance
- Committee memberships: Audit; Nominating & Corporate Governance .
- Chair roles: None; Audit Chair is Øivind Lorentzen; Nominating & Corporate Governance Chair and Lead Independent Director is Malcolm McAvity .
- Independence: Board majority independent; Tan meets NYSE/SEC standards .
- Audit Committee financial expert: Board determined Tan qualifies under SEC definition .
- Executive sessions: Independent directors hold executive sessions; Lead Independent Director presides. Four executive sessions without management in FY ended Mar 31, 2024; policy requires at least twice a year .
| Governance Metric | FY 2024 | FY 2025 |
|---|---|---|
| Board meetings held | 5 | 4 |
| Committee meetings (Audit) | 4 meetings + 1 written consent | 5 meetings |
| Committee meetings (Nominating & Corporate Gov.) | 1 written consent | 2 meetings + 1 written consent |
| Director attendance | All directors ≥75% of Board and committee meetings | All directors ≥75% of Board and committee meetings |
| Executive sessions held | 4 (FY ended Mar 31, 2024) | Policy continues; Lead Independent Director presides |
Fixed Compensation
- Structure (non-executive directors): Annual retainer $155,000 paid 100% in equity; committee chair additional $15,000 equity; committee membership (non-chair) $10,000 equity per committee; reimbursed expenses; no termination benefits for directors .
| Metric | FY 2024 | FY 2025 |
|---|---|---|
| Annual director compensation (Christina Tan) – Cash | $0 | $0 |
| Annual director compensation (Christina Tan) – Equity | $204,300 | $119,698 |
| Total reported (Christina Tan) | $204,300 | $119,698 |
| Grant date fair value per share (company-wide for directors) | $38.46 on Mar 28, 2024 | $22.34 on Mar 31, 2025 |
| Termination benefits for directors | None | None |
Performance Compensation
- Non-executive director pay is entirely equity-based retainers and committee fees; no performance-linked components disclosed for directors .
Other Directorships & Interlocks
| Company | Role | Potential Interlock/Notes |
|---|---|---|
| Pangaea Logistics Solutions | Director | Pangaea appears in LPG’s FY2025 compensation peer group (used for executive benchmarking), indicating sector familiarity but no related-party transaction disclosed . |
Expertise & Qualifications
- Shipping industry leadership: CEO of MT Maritime Management (USA) LLC; decades in finance/chartering and maritime investments .
- Financial oversight: Audit Committee “financial expert” designation .
- Governance: Service on Nominating & Corporate Governance Committee; prior fund governance via LPAC .
Equity Ownership
| Metric | As of Jul 22, 2024 | As of Jul 15, 2025 |
|---|---|---|
| Common shares beneficially owned (Christina Tan) | 91,919 | 97,277 |
| Percent of class | ≤1% (reported as “*”) | ≤1% (reported as “*”) |
Policies:
- Hedging/pledging: Company does not prohibit hedging; insider trading policy requires pre-clearance for insiders (directors included). No pledging by Tan disclosed .
Governance Assessment
-
Strengths:
- Independent status, long-tenured director with deep shipping and finance credentials; Audit Committee financial expert designation strengthens oversight of financial reporting and controls .
- Consistent committee engagement (Audit; Nominating & Corporate Governance) and Board-wide attendance ≥75% in FY2024–FY2025 .
- No related-party transactions or conflicts disclosed involving Tan; related-party items disclosed pertain to other executives/family members .
-
Watch items / potential red flags:
- Hedging policy: Company lacks a formal prohibition on hedging of company securities by insiders, which can reduce alignment; trades must be pre-cleared but hedging is not barred .
- External directorship: New role at Pangaea Logistics Solutions adds external commitments; no conflict disclosed, but monitor for information flow and committee workloads as Pangaea sits within the industry and appears in LPG’s compensation peer group .
- Board leadership structure: CEO also serves as Chair; mitigated by Lead Independent Director and executive sessions, but combined roles warrant continued focus on independent oversight .
-
Alignment signals:
- Director compensation paid entirely in equity encourages ownership alignment; Tan’s beneficial holdings increased YoY (91,919 → 97,277) .
Notes: Say-on-pay results are not provided in proxy excerpts; director-specific ownership guidelines not disclosed; insider trades for Tan are not disclosed in the proxy.