Long Yi

About Long Yi

Long (Leo) Yi is Chief Financial Officer and a director of Lakeside Holding Limited (LSH). He has been CFO since June 2024 and joined the board on December 11, 2024; age 47; CPA (Illinois) with 15 years in accounting and finance; degrees from Northeastern University (Accounting), Erasmus University Rotterdam (MAcc/Finance), and McGill University (MAcc/Finance) . LSH’s board named him Director and CFO in the 2025 proxies and multiple 8-Ks; he signed numerous SEC filings as CFO and principal executive officer for certain items . Company performance during his tenure shows revenue growth year-over-year but uneven EBITDA; see performance table below (values retrieved from S&P Global). LSH shares have declined from IPO price $4.50 (June 28, 2024) to ~$0.99 in mid-November 2025, signaling negative TSR during his tenure .

Past Roles

External Roles

Fixed Compensation

• CFO-specific base salary, target bonus, and actual bonus for Long Yi were not disclosed in LSH’s 2025 proxy statements; the 2025 annual proxy covered NEOs Henry Liu and Shuai Li only, and the special meeting proxy focused on capital structure and plan adoption rather than executive pay details .

Performance Compensation

• LSH proposed and is seeking approval for a 2025 Long-Term Incentive Plan with 5,000,000 shares available, administered by the Compensation Committee, enabling stock options, RSUs, restricted shares, and SARs; no executive-specific metric weightings or targets were disclosed for Long Yi .
• The plan includes a clawback policy (recoupment of compensation), prohibits hedging via Insider Trading Policy, and allows option repricing only with shareholder approval, reducing misalignment risk from underwater awards .

Equity Ownership & Alignment

• Stock ownership guidelines (multiples of salary) and compliance status for Long Yi were not disclosed .

Employment Terms

• CFO employment agreement terms (severance, change-in-control) for Long Yi were not disclosed. The 2025 annual proxy describes NEO agreements (Henry Liu and Shuai Li) with severance for terminations without cause, pro-rata bonus, COBRA, and accelerated vesting; however, these terms do not explicitly extend to Long Yi as CFO based on disclosed NEO coverage .

Board Governance

• Board service history: Elected as director December 11, 2024; continues to serve concurrently as CFO and director (dual role; non-independent) .
• Committee roles: Independent directors comprised Audit, Compensation, and Nominating committees in May 2025 (Audit Chair: Janice Fang; Compensation Chair: Cynthia Vuong; Nominating Chair: Yiye Zhou) . Subsequent changes added independent directors Xiaoou Li (Aug 29, 2025) and Aik Siang Goh (Sep 30, 2025), with Goh appointed Audit Committee member, Compensation Committee member, and Nominating Committee chair; both were determined independent and Goh qualified as an audit committee financial expert .
• Attendance: The board held no meetings through FY ended June 30, 2024 (reflects early public-company stage; later meetings not disclosed) .
• Independence: Majority independent board after August 2025; Long Yi’s dual role as CFO/director is not independent and places management on the board; committees remain independent per Nasdaq rules .

Director Compensation

• Non-employee director pay was not paid in FY 2024; future director compensation was referenced but specific fee amounts not provided (Goh’s compensation “consistent with non-employee directors” per prior proxy) .

Performance & Track Record

• Stock performance signals: IPO price $4.50 (Jun 28, 2024); recent price ~$0.99 (Nov 18, 2025) and $1.06 (Nov 7, 2025), indicating significant share price decline since listing .
• Nasdaq bid-price deficiency: Received notice of non-compliance with the $1.00 minimum bid price; initial 180-day cure period to January 26, 2026, with potential second 180-day extension; signed by Long Yi as CFO .
• Late 10-Q notification (NT 10-Q for quarter ended Sep 30, 2025): LSH indicated additional time required; signed by Long Yi as CFO/Principal Executive Officer .

Company Financial Performance (last 3 fiscal years)

Values retrieved from S&P Global.*

Quarterly Revenues and EBITDA (last 8 quarters)

Values retrieved from S&P Global.*

Compensation Structure Analysis

• Equity-heavy incentives pending plan approval: 2025 LTIP authorizes 5,000,000 shares for awards; signals shift to broader equity participation across executives/directors/employees with flexible instruments (options, RSUs, RS, SARs) .
• Governance guardrails: Clawback adoption and anti-hedging policy are positive alignment features; repricing requires shareholder approval—reduces risk of unilateral underwater option relief .
• No disclosed CFO performance metrics or targets: The Compensation Committee retains discretion over award metrics; no CFO-specific vesting schedules or PSU targets disclosed for 2025 .

Related Party Transactions (context)

• Significant related-party activities with Weship, ABL Wuhan, and Intermodal (services, rent, and cost of revenue) disclosed for FY 2023–2024; approvals governed by Audit Committee under related-party policy .

Insider Transactions and Selling Pressure

• Publicly available summaries indicate a Form 3 for Long Yi at LSH (July 19, 2024) and no matching Form 4 transactions for LSH through mid-2025, suggesting no reported open-market sales/purchases by Long Yi during that period; note, third-party aggregations may be incomplete—EDGAR should be checked for updates .
• Beneficial ownership reported as zero in both May and November 2025 proxies, limiting direct “skin-in-the-game” alignment .

Treasury Reserve Strategy and Capital Structure

• Board-approved Treasury Reserve Strategy proposes Bitcoin/Ethereum holdings capped at ≤5% of each asset’s market cap at purchase; plan to raise capital to increase crypto positions and potentially stake for yield; subject to Special Meeting approval .
• Authorizations sought: Increase authorized common shares to 2,000,000,000; authorize 1,000,000,000 blank-check preferred; modify voting thresholds; approve non-public issuances up to 100 million shares/$100 million over 10 months (at ≥80% of Nasdaq “Minimum Price”)—indicating potential future dilution .

Investment Implications

• Alignment: Long Yi reports no LSH share ownership; combined with pending large share authorizations and capital-raising flexibility, equity dilution risk is elevated; lack of CFO-specific performance metrics reduces transparency on pay-for-performance .
• Governance: Dual role as CFO/director is non-independent, but board composition shifted to a majority of independent directors with qualified financial experts and independent committee leadership—mitigates some governance risk .
• Incentive design: 2025 LTIP with clawback and anti-hedging are positives; repricing constraint (shareholder approval) reduces misaligned executive relief; however, absence of disclosed metric weightings/targets for Long Yi limits predictability of incentive payouts .
• Trading signals: Persistent share price weakness (sub-$1 levels at times) and Nasdaq bid-price deficiency notice add near-term overhang; late 10-Q notification underscores operational/reporting strain; monitor any Form 4 activity and Special Meeting outcomes (equity plan, authorizations, crypto treasury) for further signal updates .

Note: Financial values in tables marked with * were retrieved from S&P Global.