Tony Ling
About Tony Ling
Independent director of Spark I Acquisition Corporation since December 2021. Professional background spans private equity, venture acceleration, and operating roles, with a B.A. in Economics from Harvard University and an M.B.A. from Harvard Business School . Age 50 as reported in FY2023 10-K director table at filing, with service on SPKL’s classified board (Class I) . Board determined he is independent under Nasdaq standards .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Silver Lake Partners | Principal, Director, Managing Director | Prior role (dates not disclosed) | Investment leadership in private equity; cited as credential for SPKL board |
| iQ License LLC | President | Prior role (dates not disclosed) | Operating leadership; e-commerce platform exposure |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| SparkLabs Taipei (affiliate of SparkLabs Group Management) | Venture Partner | Since March 2017 | Ongoing fiduciary/contractual duties disclosed; SPKL charter renounces certain corporate opportunities given such duties |
Board Governance
- Board structure and class: SPKL has eight directors in three classes; Class I (including Tony Ling) stands for election on a staggered basis; after 2024 re-appointment, Class I term runs until the 2027 annual meeting .
- Independence: Board has determined Ling is independent (one of five independent directors) under Nasdaq standards .
- Committee assignments: Ling is not listed as a member of the Audit, Nominating, or Compensation Committees (Audit: Willy Lan [Chair], Cuong Viet Do, Shin-Bae Kim; Nominating: Shin‑Bae Kim [Chair], Catherine Mohr; Compensation: Catherine Mohr [Chair], Shin‑Bae Kim) .
- Controlled-company governance risk: Only holders of founder shares vote on election of directors prior to a business combination; Nasdaq may consider SPKL a “controlled company,” although SPKL stated intent to comply with Nasdaq requirements (subject to phase‑in) .
- Attendance: Not disclosed in available filings.
Fixed Compensation
Director fees are paid as consulting/board service fees; no employment agreements; no long-term or stock option plans disclosed for directors.
| Metric (USD) | FY 2023 | FY 2024 |
|---|---|---|
| Consulting fees – Tony Ling (Director) | 75,000 | 75,000 |
| Employment agreements | None | None |
| Long-term plans / stock option plans | None | None |
Performance Compensation
| Award Type | Grant Date | Shares/Units | Fair Value | Performance Metrics | Vesting |
|---|---|---|---|---|---|
| None disclosed for directors (no long-term or option plans maintained) | — | — | — | — | — |
No RSUs/PSUs, stock option awards, or performance metric frameworks were disclosed for directors in FY2023–FY2024 .
Other Directorships & Interlocks
| Company | Exchange | Role | Committee Roles |
|---|---|---|---|
| None disclosed for Tony Ling | — | — | — |
Expertise & Qualifications
- Private equity investing and technology/startup ecosystem expertise from Silver Lake Partners and SparkLabs Taipei .
- Education: B.A. Economics (Harvard University); M.B.A. (Harvard Business School) .
Equity Ownership
| Holder | Class A Shares | % of Class A | Class B Founder Shares | % of Class B | % of Total Outstanding Ordinary Shares | Notes |
|---|---|---|---|---|---|---|
| Tony Ling | — | — | 100,000 | 1.6% | * (<1%) | All Class B shares are convertible 1:1 into Class A; 16,422,078 total ordinary shares outstanding as of record date . |
SPKL beneficial ownership table based on 16,422,078 ordinary shares outstanding; Class B shares currently convertible 1-for-1 into Class A .
Governance Assessment
- Independence and committee exposure: Independent director with no audit/comp/nom committee roles; this limits direct influence on pay and audit oversight but avoids potential committee-related conflicts .
- Alignment via founder shares: Ling holds 100,000 founder (Class B) shares that convert upon business combination, creating strong incentives to close a deal; a common SPAC dynamic that can misalign with public holders if deal quality is weak .
- SPAC sponsor economics and extension dynamics: Sponsor and certain officers/directors have meaningful economic interests (founder shares and private warrants); company disclosed that redemptions increase insiders’ percentage ownership, and insiders could profit on founder shares even if public share price declines, highlighting potential conflict risk; continued consulting fees to directors and officers also noted .
- Controlled company risk: Founder-share voting control over director elections reduces public shareholders’ influence on board composition pre‑combination; SPKL notes intent to comply with Nasdaq governance, but the structure is a governance risk until de‑SPAC .
- Attendance/performance oversight: No attendance data disclosed; no performance-based director pay structure, which is typical for SPACs but limits explicit pay-for-performance alignment at the board level .
Related-Party / Conflicts Watchlist
- Founder and private warrant interests: The Sponsor invested $8,515,535 (founder shares and private warrants); certain officers/directors have direct/indirect interests; implied aggregate market value of these securities was cited at the record date; if no business combination occurs, these could be worthless—creating pressure to complete a deal .
- Fiduciary overlaps: Directors (including Ling at SparkLabs Taipei) have other fiduciary and contractual duties; SPKL charter renounces certain corporate opportunities to mitigate conflicts but overlaps remain an inherent risk during deal sourcing .
Employment & Contracts
- Structure: Compensation paid via consultancy/board services; no employment agreements with officers; no key‑person insurance; no long‑term or stock option plans .
- Severance/CoC/clawbacks/gross‑ups: Not disclosed in available filings for directors.
Say‑on‑Pay & Shareholder Feedback
- Not applicable in available 2024 proxy; 2024 agenda covered director re‑elections (Class I), auditor ratification, and potential adjournment .
Risk Indicators & Red Flags
- RED FLAG: Founder share and private warrant economics can incentivize deal completion regardless of quality; extension/redemption mechanics may increase insider ownership percentage post‑redemptions .
- RED FLAG: Controlled-company dynamics on director elections pre‑combination reduce minority holder influence .
- Monitoring: No pledging/hedging, legal proceedings, or Form 4 trading activity disclosed for Ling in the reviewed filings; continue to monitor Section 16 filings post‑events.
Notes on Upcoming Events/Status
- As of June 2025 proxy, SPKL sought to extend the deadline to consummate a business combination to September 29, 2026; failure to approve extension could result in liquidation, rendering founder shares and private warrants worthless .