SINO-GLOBAL SHIPPING AMERICA, LTD. (NASDAQ:SINO) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On October 19, 2020, Mr. Junfeng Xu resigned from his position as a member of the Board of Directors (the “Board”) of Sino-Global Shipping America, Ltd. (the “Company”) and consequently from his position as a member of the Audit Committee, Compensation Committee and the Nominating/Corporate Governance Committee (Chair). Mr. Junfeng Xu’s resignation was not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.
On October 22, 2020, the Nominating/Corporate Governance Committee of the Board nominated and the Board appointed, Xiaohuan Huang as a Class I director, Chairperson of the Nominating/Corporate Governance Committee, a member of the Audit Committee and a member of the Compensation Committee, to hold office, effective October 23, 2020 until the Company’s annual meeting of the shareholders in 2021, and a successor has been duly elected and qualified or until her earlier resignation, removal from office, death or incapacity.
Ms. Xiaohuan Huang, 37 years old, is presently Vice President of SOS Information Technology New York, Inc. Prior to that, Ms. Huang had been Vice President for China Commercial Credit, Inc. from November 2016 to July 2020, President of Shenzhen Yi Le Gou Mobile Internet Co., Ltd since February 2014 and a Consultant till present, Vice President of Shenzhen Hang Lu Technology Co., Ltd from March 2009 to February 2014 and Channel Manager from August 2007 to March 2009. Ms. Huang holds a Bachelor’s degree in Business Management from Hunan Normal University.
The Board has determined Ms. Xiaohuan Huang is deemed to be independent under the definition of independence provided by NASDAQ Listing Rule 5605(a)(2).
Ms. Huang has (i) no arrangements or understandings with any other person to which she was appointed as a director, and (ii) no family relationship with any director or executive officer of the Company or any person nominated or chosen by the Company to become a director or executive officer.
Ms. Huang has had (i) no direct or indirect material interest in any transaction or series of similar transactions contemplated by Item 404(a) of Regulation S-K and, (ii) as of the date of this Current Report on Form 8-K (this “Report”), Ms. Huang holds no direct or indirect beneficial ownership in the Company’s stock or rights to acquire the Company’s stock.
Ms. Huang is to receive an annual compensation of $20,000 from the Company, will be eligible to participate in the Company’s stock incentive plans, as adopted from time to time, and to be compensated at the same level of other independent directors’ of the Company. A copy of the offer letter by and between the Company and Ms. Huang is filed as Exhibit 10.1 to this Report and is incorporated by reference herein.
|Exhibit 10.1||Offer Letter between Sino-Global Shipping America, Ltd. and Xiaohuan Huang|
Sino-Global Shipping America, Ltd. Exhibit
EX-10.1 2 ea128807ex10-1_sinoglobal.htm OFFER LETTER BETWEEN SINO-GLOBAL SHIPPING AMERICA,…
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About SINO-GLOBAL SHIPPING AMERICA, LTD. (NASDAQ:SINO)
Sino-Global Shipping America, Ltd. is a non-asset-based global shipping and freight logistic integrated solution provider. The Company provides solutions and value added services to its customers in the shipping and freight logistic chain sector. The Company’s segments include Shipping Agency and Ship Management Services; Shipping & Chartering Services, and Inland Transportation Management Services. The Company conducts its business primarily through its subsidiaries in China (including Hong Kong), Australia, Canada, and the United States (New York and Los Angeles). The Company provides its shipping agency services in the People’s Republic of China through Sino-Global Shipping Agency Ltd. (Sino-China), which holds the licenses and permits to operate local shipping agency services in the People’s Republic of China. The Company’s inland transportation management services are operated by its subsidiaries in China (including Hong Kong) and the United States.