Company: BTBDW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001477932-25-002248
Chunk: 486

Company: BT Brands, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 5
Chunk 486
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 board of directors on which they serve. In addition, our board of directors acted unanimously with written consent on five occasions.

Board Committees

To assist it in performing its duties, the board of directors has delegated certain authority to an Audit Committee and a Compensation Committee. Each of these committees has adopted a written charter that satisfies the applicable standards of the SEC and the NASDAQ Listing Rules, which are posted on the investor relations section of our website. In addition, as permitted by the Nasdaq Listing Rule, the independent directors on our board will fulfill the responsibilities of a nominating and corporate governance committee. The composition and duties of each committee are described below. Members will serve on committees until their resignation or otherwise determined by our board of directors.

The following table sets forth the members of each board committee as of December 29, 2024, and the number of meetings held by the board and committees during our year ended December 29, 2024:

Director Board of Directors  Audit Committee  Compensation Committee Gary Copperud X       Kenneth Brimmer X       Allan Anderson X  Chair  X Terri Tochihara-Dirks X  X  Chair Fred Croci X  X  X Number of meetings held 4  2  1 

The primary functions of each committee of the board are described below:

Audit Committee

Our audit committee comprises Mr. Anderson, Ms. Tochihara-Dirks, and Mr. Croci. Our board of directors has determined that all of the members of the Audit Committee are “independent” as that term is defined under Rule 5605(a)(2) of the NASDAQ Listing Rules. Mr. Anderson is the chair of the audit committee. Our board of directors has determined that Mr. Anderson qualifies as an “audit committee financial expert” within the meaning of applicable SEC regulations and meets the financial sophistication requirements of the Nasdaq Marketplace Rules. Our independent registered public accounting firm and management periodically met privately with our audit committee four times during 2024.

Our audit committee assists our board of directors in its oversight of our accounting and financial reporting process and the audits of our financial statements. Under its charter, our audit committee is responsible for, among other things:

 ·selecting, retaining, and replacing independent auditors and evaluating their qualifications, independence, and performance; ·reviewing and approving the scope of the annual audit and audit fees;