Company: LEGT
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001829126-25-001098
Chunk: 362

Company: Legato Merger Corp. III
Filing Date: 2025-02-19
Form: 10-K
Item: Item 2
Chunk 362
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 inquiry or investigation by governmental or professional authorities within the preceding five years respecting one or more independent audits carried out by the firm and any steps taken to deal with such issues; 

    ●
    reviewing and approving any related party transaction required to be disclosed pursuant to Item 404 of Regulation S-K promulgated by the SEC prior to us entering into such transaction; and 

    ●
    reviewing with management, the independent auditors, and our legal advisors, as appropriate, any legal, regulatory or compliance matters, including any correspondence with regulators or government agencies and any employee complaints or published reports that raise material issues regarding our financial statements or accounting policies and any significant changes in accounting standards or rules promulgated by the Financial Accounting Standards Board, the SEC or other regulatory authorities. 

49

Compensation Committee

Effective February 8, 2024, we established a compensation committee of the board of directors. Under the NYSE American listing standards and applicable SEC rules, we are required to have at least two members of the compensation committee, all of whom must be independent, subject to certain phase-in provisions. David Sgro, Brian Pratt and John Ing serve as members of our compensation committee. Each such person meets the independent director standard under NYSE American listing standards applicable to members of the compensation committee.

We have adopted a compensation committee charter, which details the principal functions of the compensation committee, including:

    ●
    reviewing and approving on an annual basis the corporate goals and objectives relevant to our Chief Executive Officer’s compensation, evaluating our Chief Executive Officer’s performance in light of such goals and objectives and determining and approving the remuneration (if any) of our Chief Executive Officer based on such evaluation; 

    ●
    reviewing and approving on an annual basis the compensation of all of our other officers; 

    ●
    reviewing on an annual basis our executive compensation policies and plans; 

    ●
    implementing and administering our incentive compensation equity-based remuneration plans; 

    ●
    assisting management in complying with our proxy statement and annual report disclosure requirements; 

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    approving all special perquisites, special cash payments and other special compensation and benefit arrangements for our officers and employees; 

    ●
    if required, producing a report on executive compensation to be included in our annual proxy statement; and 

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    reviewing, evaluating, and recommending changes, if appropriate, to the remuneration for directors. 

Notwithstanding the foregoing, other than reimbursement of expenses, no compensation of any kind, including