Company: BSFC
Filing Date: 2025-06-23
Form Type: 10-K
Source: 0001641172-25-015976
Chunk: 430

Company: Blue Star Foods Corp.
Filing Date: 2025-06-23
Form: 10-K
Item: Item 1
Chunk 430
---

equity operating partner for CITIC Capital Partners (Shanghai) Ltd. Prior to that, from 2009 through 2019, Mr. McLellan served in various
executive capacities, including Chairman for SinotransPFS Cold Chain Logistics Company, Ltd., a logistics company. Between 2004 and 2009,
Mr. McLellan served as President of Empress International, a division of Thai Union Group). Between 2003 and 2004, he served in a senior
manager position with the seafood division of ConAgra Foods. Mr. McLellan’s knowledge and background with regard to seafood operations
management led to the decision to appoint him to the board of directors.

Trond
Ringstad has more than 20 years of operating experience as a seafood executive in both the U.S. and Europe. Since April 2017,
Mr. Ringstad has been managing partner of American Sea, LLC, a seafood processing and sales company, and since October 2013, Mr. Ringstad
has been an independent consultant for AGR Partners. Between 2003 and 2007, Mr. Ringstad served as president of Pacific Supreme Seafoods,
a global importing and wholesaling seafood company. Between 2001 and 2003, he served as vice president of sales and marketing for Royal
Supreme Seafoods, a Norwegian / Chinese seafood importer and sales company. Mr. Ringstad graduated from the BI Norwegian Business School
with a Degree in International Marketing and has a BA in Business Management from Washington State University. Mr. Ringstad’s knowledge
and background with regard to seafood operations management led to the decision to appoint him to the board of directors.

Committees

We
have established three committees under the board of directors: an audit committee, a compensation committee and a nominating and corporate
governance committee. We have adopted a charter for each of the three committees. Each committee’s members and functions are described
below.

44

Audit
Committee. Our audit committee consists of Jeffrey Guzy, Trond Ringstad and Timothy McLellan. Mr. Guzy is the chairman of the
audit committee. We have determined that Messrs. Guzy, Ringstad and McLellan each satisfy the “independence” requirements
of NASDAQ Listing Rule 5605(a)(2) and meets the independence standards under Rule 10A-3 under the Exchange Act. We have determined that
Mr. Guzy qualifies as an “audit committee financial expert.” The audit