Douglas Elliman (NYSE: DOUG) appoints Feldman and Lee as Class III directors
Rhea-AI Filing Summary
Douglas Elliman Inc. appointed Justyn Feldman and Sanghyun Lee as Class III directors effective July 10, 2026. They will serve on the board until the company’s 2027 annual meeting of stockholders and until their successors are elected and qualified or they otherwise leave the role.
Feldman is Senior Vice President at The GMS Group, LLC and holds multiple FINRA licenses, while Lee is Head of Asia Pacific, Global Affairs at OpenAI with prior senior policy roles at Google and Airbnb. The board determined that both meet New York Stock Exchange independence requirements and applicable SEC rules. They were not appointed under any arrangement with other persons, and there are no related-party transactions requiring disclosure. Both will receive Douglas Elliman’s standard non-employee director compensation as described in its 2026 definitive proxy statement.
Positive
- None.
Negative
- None.
8-K Event Classification
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
1 item
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Key Figures
Appointment date: July 10, 2026
Term through: 2027 annual meeting of stockholders
Google tenure period: June 2019 to March 2026
3 metrics
Appointment date
July 10, 2026
Date Feldman and Lee were appointed as Class III directors
Term through
2027 annual meeting of stockholders
Directors will serve until this meeting and until successors are elected and qualified
Google tenure period
June 2019 to March 2026
Period Sanghyun Lee held senior government affairs and public policy roles at Google
Key Terms
Class III directors, emerging growth company, Regulation S-K, non-employee director compensation, +1 more
5 terms
Class III directors regulatory
"appointed Justyn Feldman and Sanghyun Lee as Class III directors of the Board"
Class III directors are members of a company’s board assigned to one of several staggered term groups, so only that class faces election in a particular year while other classes stay in place. For investors this affects corporate control and takeover risk because staggered elections make it slower and harder for an outside group to replace a majority of directors quickly—think of it as a rotating schedule for board seats that provides continuity but can also entrench existing leadership.
emerging growth company regulatory
"Rule 12b-2 of the Securities Exchange Act of 1934. Emerging growth company"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
Regulation S-K regulatory
"no transactions in which Messrs. Feldman or Lee have a direct or indirect material interest requiring disclosure under Item 404(a) of Regulation S-K"
A set of U.S. Securities and Exchange Commission rules that tell public companies which narrative and qualitative details must be disclosed in filings, such as risk factors, management discussion, executive pay, legal proceedings and business description. Think of it as a standardized checklist or blueprint that ensures investors get the same types of background information from every company so they can compare risks, management quality and strategy before making investment decisions.
non-employee director compensation financial
"will participate in the Company’s standard non-employee director compensation arrangements"
independence requirements regulatory
"The Board determined that Messrs. Feldman and Lee each meet the independence requirements of the New York Stock Exchange"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What board change did Douglas Elliman (DOUG) disclose?
Douglas Elliman appointed Justyn Feldman and Sanghyun Lee as Class III directors effective July 10, 2026. They will serve until the company’s 2027 annual meeting of stockholders, when their terms are scheduled to expire.
Who is Justyn Feldman, the new Douglas Elliman (DOUG) director?
Justyn Feldman is Senior Vice President at The GMS Group, LLC, a brokerage specializing in tax-free municipal bonds. He holds multiple Series 7, 9, 10, 24, 55, 63, and 65 licenses and earned a Bachelor of Science degree from the University of Arizona.
What is Sanghyun Lee’s background before joining the Douglas Elliman (DOUG) board?
Sanghyun Lee serves as Head of Asia Pacific, Global Affairs at OpenAI since March 2026. He previously held senior government affairs and public policy roles at Google and Airbnb and holds degrees from Emory, Harvard Kennedy School, MIT Sloan, and Yonsei University.
How long will the new Douglas Elliman (DOUG) directors serve?
Both directors are expected to serve until Douglas Elliman’s 2027 annual meeting of stockholders. They remain in office until their successors are duly elected and qualified or until earlier death, resignation, removal, retirement, or disqualification.
Are the new Douglas Elliman (DOUG) directors considered independent?
The board determined that both Justyn Feldman and Sanghyun Lee meet the independence requirements of the New York Stock Exchange and applicable SEC rules and regulations, supporting their status as independent non-employee directors.
Will the new Douglas Elliman (DOUG) directors receive special compensation?
The company states that both new directors will participate in its standard non-employee director compensation arrangements. These arrangements are described in Douglas Elliman’s 2026 definitive proxy statement, specifically on pages 19 and 20 filed on April 30, 2026.