Lijun Qi
About Lijun Qi
Lijun Qi (age 54) is Travelzoo’s Chief Accounting Officer, promoted in September 2024 after serving as Finance Director since December 2016 and principal accounting officer since April 2023; she holds a master’s degree in accounting from Widener University and previously led SEC reporting and technical accounting at InvenSense and Meru Networks . Company performance context during her executive tenure includes 2024 net income of $13.564 million and cumulative TSR translating a fixed $100 investment at 12/31/2021 into $211.78 by year-end 2024 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Travelzoo | Finance Director | From Dec 2016 | Finance leadership; supported SEC periodic filings and technical accounting |
| Travelzoo | Principal Accounting Officer | From Apr 2023 | Served as principal accounting officer overseeing financial reporting process |
| Travelzoo | Chief Accounting Officer | From Sep 2024 | Executive oversight of accounting and reporting; eligible for performance bonuses tied to SEC filings |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| InvenSense, Inc. | Director, Financial Reporting & Technical Accounting | From Sep 2014 | Led SEC reporting and technical accounting for a U.S.-listed company |
| Meru Networks, Inc. | Senior Manager, Financial Reporting, Technical Accounting & SOX Compliance | From Oct 2010 | Managed financial reporting, technical accounting, and SOX compliance |
Fixed Compensation
| Metric | 2024 |
|---|---|
| Base Salary ($) | 206,528 |
| Target Bonus ($) | 80,500 (estimated possible payout) |
| Actual Bonus Paid ($) | 80,500 |
| All Other Compensation ($) | 1,500 |
| Total Compensation ($) | 288,528 |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout ($) | Vesting |
|---|---|---|---|---|---|
| Successful completion of SEC periodic filings (Forms 10-Q and 10-K) | Not disclosed | Completion of periodic filings | Achieved (discretionary determination) | 80,500 | N/A (cash) |
- Bonus design: Eligible for performance bonuses tied to successful completion of periodic SEC filings; scheme continued post-promotion to CAO in September 2024 .
Equity Ownership & Alignment
| Item | As of Apr 9, 2025 |
|---|---|
| Total beneficial ownership (shares) | — (none reported) |
| Ownership as % of outstanding | — (none reported) |
| Vested vs. unvested shares | Not applicable (no awards disclosed) |
| Options – exercisable/unexercisable | None disclosed for 2024 |
| Shares pledged as collateral | Not disclosed; no pledging reported |
| Stock ownership guidelines & compliance | Not disclosed |
- Company-wide clawback policy applies to Senior Executives (including executive officers) for performance-based compensation in the event of fraud or willful misconduct leading to a material restatement; retroactive to outstanding options and prospective to new grants .
- Section 16(a) compliance: All insider ownership filings were timely during fiscal 2024 .
Employment Terms
| Term | Detail |
|---|---|
| Employment agreement date | Dec 29, 2016 |
| Status | At-will; either party may terminate with or without cause on two weeks’ prior notice |
| IP/work product | Company ownership and assignment of discoveries/work product |
| Severance provisions | Not disclosed for Qi |
| Change-of-control economics | Not disclosed for Qi |
| Non-compete | Not disclosed for Qi |
| Non-solicit | Not disclosed for Qi (Ciocca’s agreement includes 1-year non-solicit; Qi’s does not state such) |
| Garden leave/post-termination consulting | Not disclosed |
| Clawback policy | Applicable to Senior Executives for performance-based comp in specified circumstances |
Investment Implications
- Alignment and selling pressure: No reported beneficial ownership or option grants for Qi in 2024 limits equity alignment and minimizes insider selling pressure risk from vesting schedules; her compensation is predominantly cash-based and tied to completion of SEC filings rather than financial KPIs .
- Retention and transition risk: At-will status with minimal disclosed protections (no severance/CoC terms specified) suggests low termination cost but potentially higher retention risk if external opportunities arise; however, tenure and role evolution (Finance Director → principal accounting officer → CAO) indicate internal continuity in financial reporting .
- Governance and controls: Company maintains a clawback policy and reported timely Section 16 filings, mitigating misconduct risk; her background in technical accounting and SOX compliance supports execution quality in reporting and control environment .
- Performance linkage: Qi’s annual bonus is process-based (filings) rather than outcomes-based (revenue/EBITDA/TSR); pay-for-performance linkage for her role is operational, not financial, which is typical for principal accounting functions but offers limited direct incentives tied to company financial targets .