Company: SOBR
Filing Date: 2025-06-13
Form Type: PRE 14A
Source: 0001477932-25-004596
Chunk: 11

Company: SOBR Safe, Inc.
Filing Date: 2025-06-13
Form: PRE 14A
Chunk 11
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We believe that having a staggered Board of Directors divided by classes is in the best interest of both the Company and its stockholders because it provides for greater stability and continuity on our Board of Directors.

Our Board of Directors currently consists of five (5) members who are not divided into classes but elected to one-year terms at each annual meeting of the stockholders. We seek to establish a classified board of directors by dividing our Board of Directors into three classes with staggered terms.

A classified board is one in which a certain number, but not all, of the directors are elected on a rotating basis each year. This method of electing directors makes changes in the composition of the board of directors more difficult, and thus a potential change in control of a corporation a lengthier and more difficult process. A classified board is designed to assure continuity and stability in a board of directors’ leadership and policies by ensuring that at any given time a majority of the directors will have prior experience with our Company and be familiar with our business and operations. Delaware law permits, but does not require, a classified board of directors, pursuant to which the directors can be divided into as many as three classes with staggered terms of office, with only one class of directors standing for election each year.

If the stockholders approve this Proposal 1, the Amended and Restated Bylaws of the Company shall include the terms of a classified Board of Directors with three classes of directors (the “Classified Board Provisions”).The Amended and Restated Bylaws also require any stockholder who wishes to call a special meeting of the stockholder to hold at least 10% of the voting power of the outstanding shares of the Company entitled to vote on the matter or matters to be brought before the proposed special meeting and to have held such shares continuously for at least one year prior to the request. In addition, the Amended and Restated Bylaws provide for advance notice of stockholder nominations and proposals, proxy access rules, setting the number of directors of the Company at no less than three but no more than seven, the removal of a director from office with or without cause upon the vote of the stockholders holding a majority of the shares then entitled to vote, and a forum selection clause for the State of Delaware.

Appendix 1includes a copy of the proposed Amended and Restated Bylaws.

If our stockholders approve Proposal 1 and the Classified Board Provisions, directors will be elected for three-year terms, with approximately one-third of all directors elected