Company: FORA
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001140361-25-016300
Chunk: 17

Company: Forian Inc.
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 17
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 Independence Our Board undertook a review of the independence of each director. Based upon information requested from and provided by each director concerning their background, employment and affiliations, including family relationships, our Board has determined that Mark Adler, Ian Banwell, Jennifer Hajj, Stanley Trotman, Alyssa 10

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Varadhan and Kristiina Vuori qualify as “independent directors” as defined by the Nasdaq listing rules. Adam Dublin, Shahir Kassam-Adams and Max Wygod are not independent. Our Board also determined that each of the directors currently serving on the Audit Committee ( i.e.Ian Banwell, Stanley Trotman and Kristiina Vuori) and the Compensation Committee ( i.e.Mark Adler, Ian Banwell and Stanley Trotman) satisfy the independence standards for audit committees and compensation committees, as applicable, established by SEC and Nasdaq listing rules. Removal and Appointment of Directors Our certificate of incorporation and bylaws provide that a director may be removed with or without cause by the holders of at least a majority of the voting power of the shares then entitled to vote at an election of directors. Under such certificate of incorporation and bylaws, any vacancy on our Board, including a vacancy resulting from an enlargement of our Board, may be filled only by the vote of a majority of our directors then in office. Furthermore, such certificate of incorporation provides that the authorized number of directors may be changed only by a resolution adopted by the majority of our Board. Role of our Board in Risk Oversight One of the key functions of our Board is informed oversight of our risk management process. Our Board does not have a standing risk management committee, but rather administers this oversight function directly through our Board as a whole, as well as through various standing committees of our Board that address risks inherent in their respective areas of oversight. In particular, our Board is responsible for monitoring and assessing strategic risk exposure and our Audit Committee has the responsibility to consider and discuss our major financial risk exposures and the steps our management has taken to monitor and control these exposures, including guidelines and policies to govern the process by which risk assessment and management is undertaken. Our Audit Committee also monitors compliance with legal and regulatory requirements. Our Nominating Committee monitors the effectiveness of our corporate governance practices, including whether they are successful in preventing illegal or improper liability-creating conduct. Our Compensation Committee assesses and monitors whether any of our compensation policies and programs has the potential to encourage excessive risk-taking. While each committee is responsible for evaluating certain risks and overseeing