Companies XMax Inc.
XMax (XMAX): executive pay, fiscal 2025
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CEO pay, last three years
- $100,000FY2023
- $110,000FY2024
- $110,000FY2025
CEO total pay was $110,000 in fiscal 2025, up from $110,000 in fiscal 2024.
FY2025: salary $110,000 · bonus $0 · stock awards $0 · option awards $0
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Executives and directors
Full detail
Every table from the filing. Open any section.
Summary compensation table
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Thanh Lam | $110,000 | $0 | $0 | $0 | $0 | $0 | $0 | $110,000 |
| Chairperson, Chief Executive Officer, President and Director(3) | ||||||||
| Jeffery Chuang | 70,000 | 0 | 0 | 0 | 0 | 0 | 0 | 70,000 |
| Chief Financial Officer | ||||||||
| Xiaohua Lu | 53,333 | 0 | 0 | 0 | 0 | 0 | 0 | 53,333 |
| Chief Executive Officer | ||||||||
| Yizhou Zhao | 37,115 | 0 | 0 | 0 | 0 | 0 | 0 | 37,115 |
| Corporate Secretary and Chief Operating Officer | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
Three-year trend — total compensation per named executive
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Thanh Lam | $110,000 | $110,000 | $100,000 | ↑ +0 |
| Jeffery Chuang | 70,000 | 70,000 | 60,000 | ↑ +0 |
| Xiaohua Lu | 53,333 | — | — | — |
| Yizhou Zhao | 37,115 | — | — | — |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
Incentive-plan design — the Compensation Discussion & Analysis
The executive compensation program is comprised principally of salary, equity and performance-based cash compensation, designed to attract, motivate and retain key executives, align the interests of executives with stockholder value and financial performance, and achieve a balanced package that reflects individual performance and contributions.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | — |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | true |
Equity grants and outstanding awards
No plan-based awards are on file for this fiscal year.
No outstanding equity awards are on file for this fiscal year.
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Umesh PatelIndependent · Board Chair · Audit (Chair) · Compensation · Nominating and Corporate Governance | $31,438 | $0 | $0 | $0 | $0 | $31,438 |
| Ming-Cherng Sky TsaiIndependent · Audit · Compensation (Chair) · Nominating and Corporate Governance | 26,110 | 0 | 0 | 0 | 0 | 26,110 |
| Charlie Huy LaIndependent | 23,530 | 0 | 0 | — | 0 | 23,530 |
| Wen TaoIndependent · Audit · Compensation · Nominating and Corporate Governance | 6,790 | 0 | 0 | 0 | 0 | 6,790 |
| Xiaohua LuEmployee director | — | — | — | — | — | 0 |
| Steven ZhaoEmployee director | — | — | — | — | — | 0 |
| Matthew BeckIndependent · Newly elected | — | — | — | — | — | — |
Board fee structure and ownership guideline
| Annual cash retainer | — |
|---|---|
| Annual equity retainer | — |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | — |
| Stock ownership guideline | — |
Total cost of the board
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $87,868 |
| Equity awards (grant-date value) | $0 |
| All other compensation | $0 |
| Total cost of the board | $87,868 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names XMax as a peer
Companies that benchmark against XMAX
No companies currently name XMAX as a compensation peer in their most recent disclosure.
This is the complete answer, not a partial one — the list is never padded.
Chief executive pay against the peer group
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company’s own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | XMax Inc. | 2025 | Thanh Lam | $110,000 | $0 | $0 | $0 | $110,000 |
Each peer’s compensation is from its most recently filed proxy; fiscal years differ by company. Each peer’s figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
Say-on-pay history and pay ratio
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2024 | 2024-05-31 | 787,531 | 3,880 | 437 | 99.51% | Passed |
| 2022 | 2022-06-10 | 2,434,129 | 152,711 | 8,039 | 94.1% | Passed |
| 2021 | 2021-05-28 | 2,308,372 | 84,188 | 2,385 | 96.48% | Passed |
| 2020 | 2020-07-15 | 2,301,196 | 117,414 | 31,023 | 95.15% | Passed |
| 2019 | 2019-06-11 | 11,523,722 | 694,468 | 21,742 | 94.32% | Passed |
| 2018 | 2018-05-25 | 11,359,166 | 511,169 | 28,986 | 95.69% | Passed |
Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year’s compensation.
Say-on-pay — history, company’s computation
| Meeting year | Meeting date | Approval — company’s computation |
|---|---|---|
| 2024 | 2024-05-31 | 99.51%a |
| 2022 | 2022-06-10 | 94.1%b |
| 2021 | 2021-05-28 | 96.48%c |
a. Voting standard not stated in the filing.
b. Voting standard not stated in the filing.
c. Voting standard not stated in the filing.
Approval percentages are the company’s own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.
Insider trades since the proxy
No insider equity transactions reported since the proxy statement.
Sources (17 citations)
Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.
- Section 01, Thanh Lam. DEF 14A, filed 2026-04-17. Section “Executive Compensation”. As printed: 110,000. View filing ↗
- Section 01, Jeffery Chuang. DEF 14A, filed 2026-04-17. Section “Executive Compensation”. As printed: 70,000. View filing ↗
- Section 01, Xiaohua Lu. DEF 14A, filed 2026-04-17. Section “Executive Compensation”. As printed: 53,333. View filing ↗
- Section 01, Yizhou Zhao. DEF 14A, filed 2026-04-17. Section “Executive Compensation”. As printed: 37,115. View filing ↗
- Section 08, Umesh Patel. DEF 14A, filed 2026-04-17. Section “Director Compensation”. As printed: 31,438. View filing ↗
- Section 08, Ming-Cherng Sky Tsai. DEF 14A, filed 2026-04-17. Section “Director Compensation”. As printed: 26,110. View filing ↗
- Section 08, Charlie Huy La. DEF 14A, filed 2026-04-17. Section “Director Compensation”. As printed: 23,530. View filing ↗
- Section 08, Wen Tao. DEF 14A, filed 2026-04-17. Section “Director Compensation”. As printed: 6,790. View filing ↗
- Section 08, Xiaohua Lu. DEF 14A, filed 2026-04-17. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 08, Steven Zhao. DEF 14A, filed 2026-04-17. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 08, Matthew Beck. DEF 14A, filed 2026-04-17. Section “Director Compensation”. As printed: —. View filing ↗
- Section 06, 2024 vote. Form 8-K, filed 2024-06-03. Item 5.07 · say-on-pay result. As reported: 99.51% (votes for as printed: 787,531). View filing ↗
- Section 06, 2022 vote. Form 8-K, filed 2022-06-14. Item 5.07 · say-on-pay result. As reported: 94.1% (votes for as printed: 2,434,129). View filing ↗
- Section 06, 2021 vote. Form 8-K, filed 2021-06-01. Item 5.07 · say-on-pay result. As reported: 96.48% (votes for as printed: 2,308,372). View filing ↗
- Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
- Section 09b board cost (computed). Computed. Cash 87,868 + equity 0 + all other 0 = 87,868, summed across the director compensation table rows.
- XMax Inc. (subject), Section 10b CEO total. DEF 14A, filed 2026-04-17. CEO total compensation as printed in XMax Inc.'s own proxy. As printed: 110,000. View filing ↗