Julia Yu
About Julia Yu
Julia Yu, age 53, is an independent director of Phoenix Motor Inc. (PEV) since May 2024, serving as Audit Committee Chair and designated audit committee financial expert. She is CFO and Treasurer at AppTech Payments Corp. (Nasdaq: APCX), with two decades of finance, accounting, auditing, compliance, SEC reporting, M&A, and restructuring experience; she is a CPA, Certified Internal Auditor (CIA), and CGMA, with dual MBAs from Webster University and Shanghai University of Finance and Economics .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| AppTech Payments Corp (Nasdaq: APCX) | CFO & Treasurer | Since Jul 2023 | Public-company finance leadership, SEC reporting |
| AppTech Payments Corp | SVP Corporate Finance & Accounting | Apr 2022–Jul 2023 | Built corporate finance functions |
| Caladrius Biosciences, Inc. (formerly Nasdaq: CLBS) | Director, CFO Management Consultant | 2011–2022 | CFO advisory; restructuring exposure |
| Unilever | Senior finance/accounting/management roles | Dates not disclosed | Global finance operations |
| Exxon Mobil | Senior finance/accounting/management roles | Dates not disclosed | Global finance operations |
| Non-profit organizations | Treasurer; Executive Board Member | Dates not disclosed | Treasury oversight; board governance |
External Roles
| Company | Role | Start Date | Public/Private | Notes |
|---|---|---|---|---|
| AppTech Payments Corp (Nasdaq: APCX) | CFO & Treasurer | Jul 2023 | Public | No directorship disclosed at APCX |
| AppTech Payments Corp | SVP Corporate Finance & Accounting | Apr 2022 | Public | Preceded CFO role |
Board Governance
- Independence: Board determined Julia Yu is independent under Nasdaq and SEC rules; PEV’s board has three independent directors (Yu, Huang, Young) .
- Committee assignments: Audit (Chair), Compensation, Nominating & Corporate Governance; designated “audit committee financial expert” by the Board .
- Attendance: Board held 12 meetings in 2024; no director attended fewer than 75% of Board and committee meetings; independent directors meet in executive sessions .
- Lead Independent Director: Not appointed; Board’s rationale cites small size and active independent committee participation .
- Hedging/Pledging: Company policy prohibits hedging or pledging of Company securities by directors, officers, and employees .
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Annual cash retainer (non-employee director) | $40,000 | Standard director cash retainer |
| Audit Committee Chair retainer | $10,000 | Additional cash retainer for audit chair |
| Fiscal 2024 fees (pro-rated) | $17,979 | Reflects partial-year service starting May 2024 |
| Fiscal 2024 stock awards (reported value) | $1,800 | Reported under “Stock Awards” column; see options detail below |
| Fiscal 2024 total | $19,779 | Sum of reported cash and stock award values |
Performance Compensation
| Award Type | Grant Size | Strike | Vesting | Expiry | Performance Metrics |
|---|---|---|---|---|---|
| Stock options (2024 grant) | 50,000 | $0.34 per share | 25% on each of the first four anniversaries; continuous service required | 10 years from grant date | None disclosed (time-based) |
- Equity plan change-in-control treatment: Committee may provide for full vesting and immediate exercisability upon a change-in-control for awards under the 2021 Plan .
Other Directorships & Interlocks
| Company | Role | Overlap/Interlock with PEV | Status |
|---|---|---|---|
| None disclosed | — | — | No other public company directorships disclosed for Julia Yu |
Expertise & Qualifications
- CPA, CIA, CGMA; dual MBAs (Webster University; Shanghai University of Finance and Economics) .
- Deep audit, SEC reporting, compliance, M&A, capital raising, pre/post-IPO financial management; designated audit committee financial expert by PEV’s Board .
- Experience across Unilever, Exxon Mobil, and public-company CFO consulting (Caladrius Biosciences) .
Equity Ownership
| Holder | Shares Owned | Options Exercisable (within 60 days) | % Outstanding |
|---|---|---|---|
| Julia Yu | None reported | None reported | None reported |
- Director stock ownership guidelines: Not specifically disclosed; Compensation Committee “encourages” equity ownership by directors .
- Hedging/pledging: Prohibited by Company policy .
Governance Assessment
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Strengths:
- Independent director and Audit Committee Chair with “financial expert” designation; enhances oversight of reporting, internal controls, and risk (including cybersecurity) .
- Attendance and engagement: Board met 12 times in 2024; no director under 75% attendance; independent executive sessions in practice .
- Clear prohibitions on hedging/pledging; formal code of ethics and insider trading policy .
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Risks and red flags:
- Section 16 reporting compliance was not timely in 2024 for PEV’s Section 16 reporting persons; process weakness is a governance red flag, particularly with an audit chair on the Board .
- Control concentration: EdisonFuture and PACT collectively beneficially own ~38.1% of shares; CEO/Chair Peng beneficially owns ~28.1%, with board chair-CEO duality and no lead independent director—potentially constraining independence and minority shareholder influence .
- Related-party exposure: Extensive transactions with SPI and affiliates (borrowings, services, storage fees, intercompany loans and a guarantee later released), increasing conflict risk and audit oversight demands .
- Listing risk: Board seeking approval for a 1-for-5 to 1-for-10 reverse split to regain Nasdaq bid-price compliance—signal of capital market fragility; governance needs to ensure robust investor communication and plan execution .
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Alignment considerations:
- Low personal share ownership (none reported; options time-based) could limit direct economic alignment vs. stronger owner-director models; however, annual equity via options is part of director compensation .
Overall, Julia Yu brings strong audit and financial oversight credentials as an independent director and audit chair—appropriate for a company with complex related-party dynamics and listing pressures—but systemic governance risks (Section 16 timeliness, control concentration, related-party transactions, absence of a lead independent director) require continued vigilance and robust committee execution .