GD Culture Group Ltd
For the period ended Dec 31, 2024. Filed Mar 18, 2025.
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FY2024 · Filed Mar 18, 2025
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Item 11. Executive Compensation
The following table provides disclosure concerning all compensation paid for services to GDC in all capacities for our fiscal years ended December 31, 2024 and 2023 provided by (i) each person serving as our principal executive officer (“PEO”), (ii) each person serving as our principal financial officer (“PFO”) and (iii) our two most highly compensated executive officers other than our PEO and PFO whose total compensation exceeded $100,000 (collectively with the PEO, referred to as the “named executive officers” in this Executive Compensation section).
| Summary Compensation Table | |||||||
|---|---|---|---|---|---|---|---|
| Name and Principal Position | Fiscal Year | Salary ($) | Bonus ($) | Stock Awards ($) | Option Awards ($) | Other Compensation ($) | Total ($) |
| Xiao Jian Wang (1) | 2024 | 50,000 | - | - | - | - | 50,000 |
| (CEO, President, Chairman of the Board, and Director) | 2023 | 34,725 | 65,275 | - | - | - | 100,000 |
| Zihao Zhao(2) | 2024 | 30,000 | 30,000 | ||||
| (CFO) | 2023 | 20,833 | - | - | - | - | 20,833 |
| Cai Lu (3) | 2024 | - | - | - | - | - | - |
| (COO) | 2023 | - | - | - | - | - | - |
| (1) | Mr. Xiao Jian Wang was appointed as the Chief Executive Officer, President, Chairman of the Board and a director of the Company, effective April 21, 2023. |
| (2) | Mr. Zihao Zhao was appointed as the Chief Financial Officer of the Company, effective April 21, 2023. |
| (3) | Ms. Cai Lu was appointed as the Chief Operating Officer on February 9, 2023. |
Grants of Plan Based Awards in the Fiscal Year Ended December 31, 2024
During the fiscal year ended December 31, 2024, no shares of common stock were granted to our officers and directors under the plan.
Outstanding Equity Awards at Fiscal Year-End
None.
Employment Contracts, Termination of Employment, Change-in-Control Arrangements
We have entered into employment agreements with each of our executive officers, respectively, (each an “Employment Agreement,” collectively, the “Employment Agreements”). Under these agreements, each of our executive officers is employed for a specified time period. We may terminate employment for cause, at any time, without advance notice or remuneration, for certain acts of the executive officer, such as conviction or plea of guilty to a crime, or misconduct or a failure to perform agreed duties. The executive officer may resign at any time with a three-month advance written notice.
The officers also agreed to enter into additional confidential information and invention assignment agreements and are subject to certain non-compete and non-solicitation restrictions for a period one year following termination.
Director Compensation
The following table represents compensation earned by our non-executive directors in 2024.
| Name | Fees earned in cash ($) | Stock awards ($) | Option awards ($) | All other compensation ($) | Total ($) | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Yun Zhang (1) | $ | - | - | - | - | $ | - | |||
| Lei Zhang (2) | $ | - | - | - | - | $ | - | |||
| Shuaiheng Zhang (3) | $ | - | - | - | - | $ | - | |||
| Shuaiheng Zhang (4) | - | - | - | - | - | |||||
| Yi Zhong (5) | - | - | - | - | - | |||||
| (1) | Mr. Yun Zhang was appointed as a director of the Company on April 26, 2024. |
| (2) | Mr. Lei Zhang was appointed as a director of the Company on April 26, 2024. |
| (3) | Mr. Shuaiheng Zhang was appointed as a director of the Company on February 9, 2023. |
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