Maria Pineda
About Maria Pineda
Dubravka (“Maria”) Pineda is an independent director at Taitron Components (TAIT), appointed May 26, 2022. The Board has determined she is an “audit committee financial expert” under SEC Item 407 of Regulation S‑K; she serves as Chair of the Audit Committee and as a member of the Compensation Committee, and is independent under Nasdaq and SEC standards . She has been an international strategic business and financial advisor since 1976, with experience across utilities privatizations, life sciences, energy technology, and international capital markets . As of March 31, 2024, she was 69 years old .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| ICN Pharmaceuticals (public co.) | Led investor relations and financial presentations to international investors; helped raise “close to $1 billion” for subsidiaries (SPI, Biomedicals, NARI) | Not disclosed | Capital markets execution and IR leadership |
| PHB (Washington, DC) | Senior Advisor for international financial restructuring; analyzed/supervised financial reports; delivered presentations to Brazil stock exchange and ministries | Not disclosed | International financial restructuring advisory |
| MC Power (fuel cell manufacturer) | Created international market strategy | Not disclosed | Market entry/strategy in energy tech |
| New Energy Corp (US microturbines) | International market strategy | Not disclosed | Market development in energy tech |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| US EXIM Bank | Advisory Board member (former) | Not disclosed | Technical lead on privatizations/divestitures context in prior work |
| Tisano LLC (specialty commodity) | Financial advisor (pre-merger/stock offering) | Not disclosed | Transaction readiness and financing advisory |
| EBI International | Advisor on Eastern Europe opportunities, including financing/state‑of‑the‑art energy systems (current) | Not disclosed | Advisory on energy deployment/financing |
Board Governance
- Committee assignments (FY2024): Audit Committee (Chair: Maria Pineda), Compensation Committee (Member: Maria Pineda). Audit Committee operated under a written charter; Compensation Committee did not have a written charter .
- Independence: The Board determined that Pineda and all current members of the Audit and Compensation Committees are independent under Nasdaq and SEC rules .
- Audit committee financial expert: Pineda is designated the audit committee financial expert .
- Meetings/engagement (FY2024): Board held one meeting; Audit Committee held one meeting; Compensation Committee held one meeting .
- Annual meeting attendance: At the 2023 Annual Meeting, only the CEO (Mr. Wang) attended (attendance encouraged, not required) .
- Auditor oversight: Audit Committee recommended inclusion of audited financials and appointment of Ramirez Jimenez International CPAs (“RJI”) as independent auditor for 2025; audit fees were $75,600 (2024) vs $73,300 (2023) .
Fixed Compensation
| Metric | 2023 | 2024 |
|---|---|---|
| Fees earned or paid in cash (annual retainer) | $3,000 | $3,000 |
| Option awards (grant‑date fair value recognized in year) | $0 | $0 |
| Total | $3,000 | $3,000 |
| Policy note | Non‑employee directors receive $3,000 annually | Non‑employee directors receive $3,000 annually |
Performance Compensation
| Item | Detail |
|---|---|
| Annual equity policy | “Amounts reflect 5,000 annual non‑statutory options of Class A Common Stock exercisable at their fair market value on the date of grant.” |
| Grant size (policy) | 5,000 options per year |
| Strike price | Fair market value on date of grant |
| Aggregate stock options outstanding (as of most recent FY end) | 5,000 (Pineda) |
| Vesting schedule | Not disclosed |
| Expiration | Not disclosed |
| Performance metrics tied to director awards | None disclosed (only time‑based options described) |
Other Directorships & Interlocks
- Current other public company boards: None disclosed for Pineda in 2024–2025 TAIT proxies .
- Committee roles at other public companies: None disclosed .
- Interlocks with competitors/suppliers/customers: None disclosed .
Expertise & Qualifications
- International business leadership and financial expertise; female director promoting diversity .
- Audit Committee Financial Expert under SEC Item 407 .
- Background spanning utilities privatization and financial restructuring (LatAm), life sciences IR/capital raising, and energy technologies go‑to‑market .
Equity Ownership
| Metric | Mar 31, 2024 | Mar 31, 2025 |
|---|---|---|
| Class A Common Stock owned | 0 shares; “*” (<1%) | 0 shares; “*” (<1%) |
| Class B Common Stock owned | 0 shares | 0 shares |
| Options exercisable within 60 days | 1,667 | 6,666 |
| Voting percent (all classes) | “*” (<1%) | “*” (<1%) |
| Shares pledged as collateral | None disclosed |
- Ownership context: TAIT’s CEO holds super‑voting Class B, representing 64.6% voting power as of Mar 31, 2025, indicating highly concentrated control that can limit minority shareholder influence over board matters .
- Hedging policy: Company has not adopted any policy restricting employee/director hedging; potential alignment concern for all insiders generally .
Governance Assessment
- Positives
- Independent director; designated Audit Committee Financial Expert; chairs Audit Committee; independence affirmed by Nasdaq/SEC standards .
- Audit Committee maintains a written charter; provided oversight on auditor independence and recommended inclusion of audited financial statements; independent auditor appointed (RJI) for 2025; audit fees transparently disclosed .
- Risk indicators and red flags
- Compensation Committee has no written charter; CEO attends and makes recommendations on executive pay (except his own), which can constrain independence in pay decisions .
- Low meeting cadence: Board and each committee held only one meeting in FY2024; may signal limited formal oversight cadence for a public company .
- Annual meeting attendance: Only the CEO attended the 2023 annual meeting; board attendance is encouraged but not required, signaling limited public engagement .
- No hedging policy for employees/directors disclosed, reducing safeguards against misalignment .
- Highly concentrated voting control by the CEO via Class B; board decisions (e.g., governance or compensation) are unlikely to be constrained by minority holders .
- 2025 developments: Board approved voluntary Nasdaq delisting and deregistration; CFO resigned and CEO assumed principal financial and accounting officer duties—both raise governance and control‑environment concerns for investors .
Related‑party transactions: The company has a related person transactions policy reviewed by the Audit Committee; no specific related‑party transactions involving Pineda were disclosed in the cited proxies .
Notes on Attendance and Engagement
| Item | FY2024 | Commentary |
|---|---|---|
| Board meetings held | 1 | Limited cadence for a listed issuer |
| Audit Committee meetings held | 1 | Audit oversight documented and chartered |
| Compensation Committee meetings held | 1 | No written charter |
| Annual meeting attendance (2023) | Only CEO attended | Directors encouraged but not required to attend |
Contextual Company Governance Environment (FY2025)
- Voluntary Nasdaq delisting and plan to deregister under the Exchange Act (Form 25 around Nov 24, 2025; delisting effective around Dec 4, 2025; Form 15 around Dec 8, 2025) .
- CFO resignation (Nov 10, 2025); CEO assumed principal financial and accounting officer roles .
These developments accentuate the importance of strong Audit Committee leadership; however, limited meeting frequency and concentrated voting control may temper investor confidence in board independence and responsiveness .