Company: NTWK
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001493152-25-015950
Chunk: 428

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-09-29
Form: 10-K
Item: Item 1B
Chunk 428
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 positions. Other than compensation,
there are no related-party transactions with these individuals requiring disclosure under Item 404 of Regulation S-K. Compensation information
for Naeem Ghauri, who serves as an executive officer of the Company, is included in the Summary Compensation Table under Item 11 of this
Form 10-K on page 40.

The
Company employs Ms. Aiesha Ghauri, the spouse of Mr. Najeeb Ghauri, as HR director. Her total compensation for fiscal years 2025 and
2024 was $122,000 and $112,000, respectively. The Company employs Mr. Faizaan Ghauri, Mr. Najeeb Ghauri’s son, as Chief Strategy
Officer. His total compensation for fiscal years 2025 and 2024 was $313,000 and $295,000, respectively. The Company employs Mr. Faraaz
Ghauri, Mr. Najeeb Ghauri’s son, as Vice President-Digital Retail. His total compensation for fiscal years 2025 and 2024 was $319,000
and $178,000, respectively. Mr. Najeeb Ghauri’s brother, Salim Ghauri, was a co-founder of the Company and is CEO of NetSol Technologies
Limited, the company’s Pakistani subsidiary. His compensation for fiscal years 2025 and 2024 was $648,000 and $618,000, respectively.
Compensation for the purpose of this disclosure includes salary, bonuses, commissions, equity awards and other benefits such as medical
and 401(k) employer matching.

Director
Independence

The
Nasdaq Stock Market LLC (“Nasdaq”) requires that a majority of our board of directors must be composed of “independent
directors,” which is defined generally as a person other than an officer or employee of the company or its subsidiaries or any
other individual having a relationship, which, in the opinion of the company’s board of directors would interfere with the director’s
exercise of independent judgment in carrying out the responsibilities of a director. The board has determined that Mark Caton, Kausar
Kazmi, Michael Francis, and Ian Smith are “independent”. Our board currently consists of three independent directors and
two non-independent directors. Mr. Francis’s term ended in June 2025, and Mr. Smith was elected to the Board of Directors in June
2025.

ITEM
14. PR