Arthas Yang

About Arthas Yang

Arthas Yang is Senior Vice President, Latex Binders at Trinseo, appointed in March 2024. He is age 42 in the 2025 proxy and 41 in the 2024 proxy, with an MBA from HKUST/Shanghai Jiao Tong, an MS in Materials Science and a BS in Physics from Tsinghua University; he joined Trinseo in June 2010 at the carve‑out from Dow Chemical and held roles spanning technical services, product/marketing management, regional commercial leadership, and Global Business Director for CASE within Latex Binders . Segment performance under his remit: Latex Binders Q3 2025 net sales were $198M (‑18% YoY) and Adjusted EBITDA $17M (‑$9M YoY), with CASE and battery binders representing 18% of segment net sales and volumes +1% YoY; for 9M 2025, Latex Binders net sales were $611.8M and Adjusted EBITDA $58.2M versus $735.9M and $76.8M in 9M 2024 . Trinseo highlights relative TSR as a core long‑term performance metric in PSUs; EBITDA, Adjusted EPS and free cash flow are emphasized at the company level, though executive‑specific AIP metrics for Yang are not disclosed .

Past Roles

External Roles

No external public company directorships or committee roles disclosed for Yang in company filings .

Fixed Compensation

Not disclosed. Yang is an executive officer but not a named executive officer (NEO) in the 2025/2024 proxies; detailed salary/bonus data are provided only for NEOs (Bozich, Stasse, Chaclas, Cooney, Reverberi) .

Performance Compensation

Company design applies to executive officers; Yang’s specific mix/amounts are not disclosed. Trinseo’s LTI awards vest time‑based for options/RSUs/RCUs over three annual tranches, while PSUs vest partially each year based on relative TSR versus the S&P 600 chemicals/basic materials peer set (multi‑period structure below) .

Additional design notes:

• Annual equity grants on a preset February schedule; options at fair market value; no repricing without shareholder approval; minimum 12‑month vesting; no dividends prior to vesting .
• RCUs introduced due to share constraints, time‑vested over three years, settled in cash with a per‑share price ceiling; primarily used for CEO in 2024/2025 .

Equity Ownership & Alignment

• Stock ownership guidelines apply to directors and executive officers; must be achieved within 5 years of hire. Specific salary multiples disclosed for CEO (6x) and NEOs (2x). Multiples for non‑NEO executive officers like Yang are not specified in proxy; share retention rules require executives to hold 50% of net shares from vested RSUs/PSUs/options until compliant .
• Anti‑hedging and pledging: short sales, hedging/monetization (collars, forwards), margin accounts prohibited; pledging requires Chief Compliance Officer preapproval and demonstrated repayment capacity .
• Clawback policy: recoupment of incentive compensation upon restatement; cancellation/reimbursement permitted; additional clawback for covenant breaches or overpayments .
• Beneficial ownership: Yang’s beneficial share count is not disclosed in stock ownership tables (tables list directors and NEOs only) .

Employment Terms

No employment agreement, severance, or change‑of‑control terms disclosed for Yang. For context, severance economics for NEOs (not Yang) include 1.5x salary+target bonus (or 2.0x upon CIC) for several executives, and 2.0–3.0x for CEO depending on trigger; double‑trigger CIC applies company‑wide to equity awards .

Performance & Track Record

Latex Binders segment performance

Commentary:

• Q3 2025 net sales decreased 18% YoY; Adjusted EBITDA was $9M below prior year. CASE and battery binders comprised 18% of segment net sales with volumes +1% YoY .

Nine months segment performance

Additional achievements and initiatives

• Led sustainability initiatives: Trinseo achieved ISCC+ certification for Latex Binders at Nordic sites; Yang emphasized responsible sourcing and environmental stewardship in the certification announcement .
• Strategic expansion: participation in signing a recycling PC project in Zhangjiagang FTZ (Phase I ~5,000 tons capacity; ~$20M investment) alongside CEO and SVPs, strengthening APAC sustainability footprint .

Vesting Schedules and Trading Arrangements

• Time‑based vesting: options/RSUs/RCUs vest in three equal annual installments beginning on the first anniversary of grant; PSUs vest partially on each of the first, second, and third anniversaries based on relative TSR .
• 10b5‑1 trading plans: in 2025, one director and one executive officer (Angelo Chaclas) adopted trading arrangements; no adoption or termination was disclosed for other directors/executive officers (including Yang) during 9M 2025 .

Compensation Structure Analysis

• Increased emphasis on at‑risk, performance‑based pay via PSUs tied to relative TSR; options priced at grant fair value with no repricing; minimum 12‑month vesting supports retention .
• Share constraints led to use of RCUs for CEO; compensation committee views RCUs as less retentive than equity, hence time‑vesting to bolster retention; design changes do not specify impacts for non‑NEO executives like Yang .
• Governance discipline: no 280G tax gross‑ups; robust clawback; anti‑hedging/pledging and ownership guidelines align management with shareholders .

Risk Indicators & Red Flags

• Hedging/pledging prohibited with limited exceptions; pledging requires preapproval—reduces misalignment risk .
• Double‑trigger CIC terms on equity and contracts mitigate windfall payouts without actual loss of employment .
• 10b5‑1 adoption disclosures limited to a director and the CLO in 2025; no disclosed selling programs for Yang—limited evidence of near‑term insider selling pressure from him .

Expertise & Qualifications

• Advanced technical and commercial background across emulsions and engineered materials; multilingual (Mandarin/English/basic German per IR profile), with MBA and materials science credentials—supports execution in sustainability and CASE/battery binders growth vectors .

Equity Ownership & Alignment Table (Policy)

Employment Terms

Not disclosed for Yang; NEO contract terms summarized in proxy for context only (not applicable to Yang) .

Investment Implications

• Limited disclosure on Yang’s individual pay and ownership constrains precise pay‑for‑performance alignment analysis. Company‑wide policies (TSR PSUs, clawbacks, anti‑hedging/pledging, ownership rules) are strong alignment indicators even for non‑NEO executives .
• Segment fundamentals remain soft: Latex Binders net sales and EBITDA down YoY in Q3 and 9M 2025, with competitive pressure in Europe; however, CASE/battery binders mix is growing (18% of Q3 segment sales, +1% volume YoY), and sustainability wins (ISCC+) plus APAC recycling project may underpin medium‑term value creation under Yang’s leadership .
• Trading signals: no disclosed 10b5‑1 plan for Yang and strict anti‑hedging/pledging policy reduce near‑term insider selling pressure; watch future proxies/8‑Ks for any employment contract filings or award disclosures to assess retention risk and incentive leverage .