BioNexus Gene Lab Corp
For the period ended Dec 31, 2024. Filed Apr 15, 2025.
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FY2024 · Filed Apr 15, 2025
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Item 11. Executive Compensation
Summary Executive Compensation Table
The following table reflects the Summary Compensation for our named Executive Officers for fiscal years ended December 31, 2024 and 2023, respectively. For such periods, there were no bonus, non-equity plan compensation, nonqualified compensation earnings or other compensation other than as stated below for the named executive officers. Further, we have not entered into an employment agreement with any of our officers, directors or any other persons and no such agreements are anticipated in the immediate future.
| Name and principal position | Year | Salary($) | Bonus($) | Stock Awards($) | Option Awards($) | Non-Equity IncentivePlanCompensation($) | Nonqualified DeferredCompensationEarnings($) | All Other Compensation($) | Total($) |
|---|---|---|---|---|---|---|---|---|---|
| Yeat Min Fong | 2024 | — | — | — | — | — | — | — | — |
| Former Chairman (1) | 2023 | $16,069 | $— | $7,583 | $— | — | — | $— | $23,652 |
| Yee Meng Wong | 2024 | — | — | — | — | — | — | — | — |
| Former President (2) | 2023 | $16,069 | $— | $7,583 | $— | — | — | $— | $23,652 |
| Sook Keng Yeoh | 2024 | — | — | — | — | — | — | — | — |
| Former Chief Executive Officer (3) | 2023 | $12,000 | $— | $7,583 | $— | — | — | $— | $19,583 |
| Chi Yuen Leong Former Chief | 2024 | — | — | — | — | — | — | — | — |
| Executive Officer (4) | 2023 | $3,283 | $— | $— | $— | — | — | $— | $3,283 |
| Wei Li Leong | 2024 | — | — | — | — | — | — | — | — |
| Former Chief Financial Officer (5) | 2023 | $16,000 | $842 | $16,842 | |||||
| Liong Tai Tan | 2024 | — | — | — | — | — | — | — | — |
| Chief Operating Officer (6) | 2023 | $— | — | — | — | — | — | — | — |
| Su-Leng Tan Lee | 2024 | $490,126 | $1,000 | $0 | $0 | $0 | $0 | $0 | $491,126 |
| Chief Executive Officer & Chief Operating Officer (7) | 2023 | $9,095 | $0 | $0 | $0 | $0 | $0 | $0 | $9,095 |
| (1) | Mr. Yeat Min Fong was removed from his position as Chairman of the Company on December 11, 2023. |
| (2) | Ms. Yee Meng Wong was removed from her position as President of the Company on December 11, 2023. |
| (3) | Mr. Sook Keng Yeoh tendered his resignation to the company on October 4, 2023. |
| (4) | Mr. Chi Yuen Leong was appointed as CEO of the Company on October 12, 2023, and removed from his position as CEO of the Company on December 11, 2023. |
| (5) | Ms. Wei Li Leong tendered her resignation letter to the Company on October 30, 2023. |
| (6) | Mr. Liong Tai Tan tendered his resignation to the Company on August 31, 2023. |
| (7) | Mr. Su-Leng Tan Lee began his employment with the Company on September 1, 2023. |
Employment Agreements
Employment Agreement between Mr. Su-Leng Tan Lee and the Company
Effective as of August 15, 2023, the Company entered into an employment agreement with Mr. Su-Leng Tan Lee. The agreement provides for an annual base salary. Mr. Tan Lee’s employment will terminate two years from the effective date of the agreement, and such term shall be automatically extended for a one-year term thereafter at the Company’s request. The agreement further provides that either party to the agreement may terminate Mr. Tan Lee’s employment upon one month’s prior written notice. Additionally, the agreement provides that Mr. Tan Lee shall not, during the term of the agreement and for 24 months after cessation of employment, carry on business in competition with the Company.
Grants of Plan-Based Awards
Except as stated above, no plan-based awards were granted to any of our named executive officers during the interim fiscal year ended December 31, 2024.
Outstanding Equity Awards at Interim Fiscal Year End
The equity awards reflected in the Summary Compensation Table above represents all restricted stock awards issued to our executive officers as of December 31, 2024. No other stock or stock option awards were granted to any other officer of the Company as of December 31, 2024.
Option Exercises and Stock Vested
No option to purchase our capital stock was exercised by any of our named executive officers, nor was any restricted stock held by such executive officers vested during the interim fiscal period ended December 31, 2024.
Pension Benefits
No named Executive Officers received or held pension benefits during the interim fiscal period ended December 31, 2024.
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