Cheetah Net Supply Chain Service Inc. Announces Director Changes
Ticker: CTNT · Form: 8-K · Filed: Dec 11, 2024 · CIK: 1951667
Sentiment: neutral
Topics: director-change, officer-compensation
TL;DR
Cheetah Net board shakeup: Jianhua Li out, Xiaojun Wang in. Officer pay details pending.
AI Summary
Cheetah Net Supply Chain Service Inc. announced on December 5, 2024, the departure of director Jianhua Li and the appointment of new director Xiaojun Wang. The company also disclosed compensatory arrangements for certain officers, though specific details and dollar amounts were not provided in this initial filing.
Why It Matters
Changes in board composition can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Director changes and undisclosed compensatory arrangements introduce uncertainty regarding the company's leadership and financial planning.
Key Players & Entities
- Cheetah Net Supply Chain Service Inc. (company) — Registrant
- Jianhua Li (person) — Departing Director
- Xiaojun Wang (person) — Appointed Director
FAQ
What is the effective date of Jianhua Li's departure?
The filing indicates the event date is December 5, 2024, implying this is the effective date of departure.
Who is Xiaojun Wang and what is their background?
The filing announces the appointment of Xiaojun Wang as a director but does not provide biographical details or background information.
Are there specific details about the compensatory arrangements for officers?
The filing mentions compensatory arrangements of certain officers but does not provide specific dollar amounts or terms within this report.
What is the principal executive office address for Cheetah Net?
The principal executive offices are located at 8707 Research Drive, Irvine, California 92618.
What is the company's state of incorporation?
Cheetah Net Supply Chain Service Inc. is incorporated in North Carolina.
Filing Stats: 637 words · 3 min read · ~2 pages · Grade level 11 · Accepted 2024-12-11 17:00:27
Filing Documents
- tm2430795d1_8k.htm (8-K) — 27KB
- tm2430795d1_ex10-1.htm (EX-10.1) — 35KB
- tm2430795d1_ex10-2.htm (EX-10.2) — 85KB
- 0001104659-24-127657.txt ( ) — 345KB
- ctnt-20241205.xsd (EX-101.SCH) — 3KB
- ctnt-20241205_lab.xml (EX-101.LAB) — 33KB
- ctnt-20241205_pre.xml (EX-101.PRE) — 22KB
- tm2430795d1_8k_htm.xml (XML) — 4KB
02 Departure of Directors or Certain
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On December 5, 2024, the board of directors (the "Board") of Cheetah Net Supply Chain Service Inc. (the "Company"), a North Carolina corporation, appointed Mr. Xiangan Ruan as a director of the Company. Since January 2005, Mr. Ruan has served as a senior partner at Allbright Law Offices (Shanghai), where he oversees client relationships, provides strategic legal advice, and manages cases. Mr. Ruan received his bachelor's degree in Law from Sun Yat-sen University in July 2004 and his EMBA from Peking University in July 2021. The Company believes Mr. Ruan is well-qualified to serve as the Company's director due to his expertise in business law. Mr. Ruan was also appointed as a member of the Audit Committee and the Compensation Committee of the Board, and as the chair of the Nominating and Corporate Governance Committee of the Board. Before serving on the Board, Mr. Ruan had no previous relationships or transactions with the Company. On December 5, 2024, the Company extended a director offer letter to Mr. Ruan, which he accepted. A copy of the director offer letter is filed herewith as Exhibit 10.1 and is incorporated herein by reference. On December 5, 2024, the Company entered into an indemnification agreement with Mr. Ruan. A copy of the indemnification agreement is filed herewith as Exhibit 10.2 and is incorporated herein by reference.
01
Item 9.01 Exhibits. (d) Exhibits Exhibit No. Description 10.1 Director Offer Letter dated December 5, 2024 between Xiangan Ruan and the Company 10.2 Indemnification Agreement dated December 5, 2024 between Xiangan Ruan and the Company 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: December 11, 2024 Cheetah Net Supply Chain Service Inc. By: /s/ Huan Liu Huan Liu Chief Executive Officer, Interim Chief Financial Officer, Director, and Chairman of the Board of Directors