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OFA Group ( (OFAL) ) has shared an update.
On April 2, 2026, OFA Group’s board accepted the immediate resignation of director and audit committee member Won Ping Cheng, who stepped down without any disagreement with the company, its board, or management. The move triggers a swift refresh of the company’s governance lineup, particularly on its key board committees.
On the same date, the board appointed seasoned real estate executive Erwin Baquiran Pineda, 60, as an independent director for an initial two‑year term, also naming him to the audit, compensation, and nominating and corporate governance committees. Under an independent director agreement, Pineda will receive $20,000 in annual cash fees and prorated annual grants of 30,000 restricted ordinary shares that vest quarterly, strengthening OFA Group’s independent oversight while adding deep real estate and community leadership experience to its board.
More about OFA Group
OFA Group operates as a publicly governed company with a formal board and standard U.S. corporate committee structure, including audit, compensation, and nominating and governance committees. The company follows a typical non‑employee director compensation framework combining cash retainers and equity grants to align board incentives with shareholder interests.
Average Trading Volume: 242,771
Technical Sentiment Signal: Strong Sell
Current Market Cap: $7.73M
For an in-depth examination of OFAL stock, go to TipRanks’ Overview page.