Parilee Wang
About Parilee Wang
Parilee E. Wang (age 38) has served as a non-management director of Phillips Edison & Company (PECO) since 2023. She is currently Chief Product Officer at Alloy (since Feb 2023) and previously held senior product leadership roles at Bread Finance/Bread Financial and OnDeck Capital, with notable transaction experience including Bread’s ~$450 million sale to Alliance Data Systems and contributing to OnDeck’s ~$1.3 billion IPO. She holds a B.A. in international relations from Stanford (Phi Beta Kappa, with Distinction) and an MBA from Harvard Business School (Baker Scholar). The Board cited her banking/fintech sector experience, data-driven product expertise, start-up experience, and leadership as qualifications for nomination .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Alloy | Chief Product Officer | Feb 2023–present | Oversees product at identity risk decisioning platform for banks/fintechs |
| Alloy | Head of Product | Mar 2022–Feb 2023 | Led product prior to promotion |
| Bread Finance (now Bread Financial) | SVP & Head of Product | Jun 2020–Feb 2022 | Drove product vision leading to ~$450M sale to Alliance Data Systems (Dec 2021) |
| Bread Finance | VP & Head of Product | May 2019–Jun 2020 | Product leadership |
| Bread Finance | Senior Director & Head of Product | Jan 2018–May 2019 | Product leadership |
| OnDeck Capital Inc. | Various roles culminating in Senior Director, Product Management | 2012–2018 | Led new product development and global expansion; contributed to ~$1.3B IPO (Dec 2014) |
| Barnes & Noble.com | Manager, Digital Business Development | 2008–2011 | Digital business development |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Alloy | Chief Product Officer | Feb 2023–present | Global identity risk decisioning platform |
| — | Other public company directorships | — | None disclosed for Ms. Wang in PECO’s proxy |
Board Governance
- Independence: The Board determined Ms. Wang is not independent under Nasdaq rules because she is the daughter of CEO Jeffrey S. Edison; seven of PECO’s ten directors are independent, but Ms. Wang and Mr. Murphy are not .
- Committee assignments: None; PECO’s Audit, Compensation, and Nominating & Governance Committees are composed solely of independent directors .
- Attendance: The Board held four meetings in 2024; each director attended 100% of Board and applicable committee meetings and the 2024 Annual Meeting .
- Executive sessions: Independent directors met in executive session at all regularly scheduled Board and committee meetings in 2024 .
Fixed Compensation
| Component | Program Detail (2024) | Ms. Wang Actual (2024) |
|---|---|---|
| Annual cash retainer | $65,000 | $65,000 fees earned in cash |
| Audit Committee member (non-chair) | $15,000 | $0 (no committee service) |
| Compensation Committee member (non-chair) | $15,000 | $0 (no committee service) |
| Nominating & Governance member (non-chair) | $15,000 | $0 (no committee service) |
| Audit Committee chair | $25,000 | $0 |
| Compensation Committee chair | $20,000 | $0 |
| Nominating & Governance chair | $20,000 | $0 |
| Lead Independent Director fee | $45,000 | $0 |
| Reimbursement of expenses | Reasonable out-of-pocket expenses reimbursed | As incurred (not itemized) |
| 2024 Director Compensation (Actual) | Amount ($) |
|---|---|
| Fees Earned or Paid in Cash | 65,000 |
| Stock Awards (grant date fair value, ASC 718) | 110,000 |
| All Other Compensation (dividends on unvested awards) | 3,641 |
| Total | 178,641 |
Mix signal: Equity comprised ~61.6% of total ($110,000/$178,641), with cash ~36.4%; remaining ~2.0% from dividends. Calculation from disclosed amounts .
Performance Compensation
| Equity Award | Instrument | Grant Value | Quantity | Vesting |
|---|---|---|---|---|
| Annual equity grant | Restricted stock or Class B Units (director election) | $110,000 (2024) | 3,364 units unvested as of 12/31/2024 (Class B Units) | Vests fully on earlier of next Annual Meeting or 1-year anniversary, subject to continued service |
| Performance Metrics Tied to Director Compensation | Status |
|---|---|
| Financial or TSR hurdles | None disclosed; director equity grants are time-based |
- Clawback policy: Company maintains a clawback policy and annually assesses compensation at risk .
- Hedging/pledging: Prohibited for all directors, officers, and employees per Insider Trading Policy .
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Other public company boards | None disclosed for Ms. Wang in the proxy |
| Interlocks | Familial relationship: Ms. Wang is daughter of CEO Jeffrey S. Edison (governance conflict risk) |
| Overboarding | Company monitors overboarding; no director serves on more than two other public company boards (board-level safeguard) |
Expertise & Qualifications
- Education: BA, Stanford University (Phi Beta Kappa, with Distinction); MBA, Harvard Business School (Baker Scholar) .
- Domain expertise: Banking/fintech product leadership; data-driven business development; start-up and transaction execution (Bread ~$450M sale; OnDeck ~$1.3B IPO) .
- Board-level skills: Corporate governance oversight framework with independent-only committees; committee charters publicly available .
Equity Ownership
| Holder | Common Shares | Rights to Common Stock (OP/Class B/C units vesting within 60 days) | Total Beneficial Ownership | Ownership % |
|---|---|---|---|---|
| Parilee E. Wang | 24,990 | 3,364 (Class B Units) | 28,354 | <1% |
| Unvested/Vested Breakdown | Quantity |
|---|---|
| Unvested Class B Units as of 12/31/2024 | 3,364 |
| Vested or vesting within 60 days (as of 3/7/2025) | 3,364 Class B Units |
- Stock Ownership Policy (SOP): Non-management directors must own equity equal to 5x annual retainer within five years; if below threshold due to stock price decline, must retain 100% of shares until target re-achieved .
- Hedging/pledging: Prohibited for directors; no pledging disclosed for Ms. Wang .
Governance Assessment
- RED FLAGS: Not independent due to familial relationship to CEO; this inherently raises conflict-of-interest and oversight concerns, and she is ineligible for service on independent-only committees, limiting direct involvement in audit/compensation/N&G oversight .
- Mitigating signals: 100% attendance in 2024 and adherence to SOP with a five-year window for ownership alignment; independent directors meet in executive session at all regularly scheduled meetings; robust committee charters and independence standards .
- Compensation alignment: Director pay mix skews to equity (~62% of 2024 total), with straightforward time-based vesting, plus strict hedging/pledging prohibitions and clawback policy, which supports long-term alignment despite independence concerns .
- Engagement: No committee service; however, Board attendance is strong; continued monitoring of any related-party exposures is warranted given familial tie, though no Wang-specific related-party transactions are disclosed in the proxy .