Company: IPST
Filing Date: 2025-06-10
Form Type: DEF 14A
Source: 0001788230-25-000111
Chunk: 18

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-06-10
Form: DEF 14A
Chunk 18
---
, including the aggregate dollar value of the transaction, the related party's relationship to us and interest in the transaction, and the benefits to us of the transaction. The Audit Committee determines, in its discretion, whether the proposed transaction is in the best interests of our Company and our stockholders.

Board Leadership Structure

Our Bylaws provide our Board of Directors with flexibility to combine or separate the positions of Chairman of the Board and Chief Executive Officer in accordance with its determination that utilizing one or the other structure is in the best interests of our Company. Justin B. Stiefel currently serves as our Chief Executive Officer and Chairman of the Board.

As Chairman of the Board, Mr. Stiefel’s key responsibilities include facilitating communication between our Board of Directors and management, assessing management’s performance, managing board members, preparation of the agenda for each board meeting,

| Heritage Distilling Holding Company, Inc. |     | 9 |     | 2025 Proxy Statement |

Corporate Governance

acting as chair of Board meetings and meetings of our Company’s stockholders, and managing relations with stockholders, other stakeholders, and the public.

We will continue to take steps to ensure that adequate structures and processes are in place to permit our Board of Directors to function independently of management. The directors are able to request at any time a meeting restricted to independent directors for the purpose of discussing matters independently of management and are encouraged to do so should they feel that such a meeting is required. Further, at the conclusion of each regular or special meeting of the Board of Directors, the Chairman inquires of the independent members of the Board if they wish to meet in executive session. Minutes of the executive session are filed with the minutes of our Company but sealed unless corporate action is taken.

Committees of the Board of Directors

The standing committees of our Board of Directors consist of an audit committee, a compensation committee, a nominating and corporate governance committee, and a technology and cryptocurrency committee. Each of the committees reports to our Board of Directors as they deem appropriate and as our Board may request. Each of the committees listed above has a committee charter setting out the mandate of such committee, including the responsibilities of the chair of such committees.

The composition, duties, and responsibilities of these committees are set forth below.

AUDIT COMMITTEE

The Audit Committee is responsible for, among other matters:

• appointing, retaining, and evaluating our independent registered public accounting firm and approving all services to be performed by them;

• overseeing our independent registered public accounting firm’s qualifications, independence, and performance;