Company: LEGT
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001829126-25-001098
Chunk: 483

Company: Legato Merger Corp. III
Filing Date: 2025-02-19
Form: 10-K
Item: Item 4
Chunk 483
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 to certain phase-in provisions. Each such person meets the independent director standard under NYSE American listing standards and under Rule 10-A-3(b)(1) of the Exchange Act.

Each member of the audit committee is financially literate and our board of directors has determined that each of Adam Semler and David Sgro qualifies as an “audit committee financial expert” as defined in applicable SEC rules.

We have adopted an audit committee charter, which details the principal functions of the audit committee, including:

    ●
    the appointment, compensation, retention, replacement, and oversight of the work of the independent auditors and any other independent registered public accounting firm engaged by us; 

    ●
    pre-approving all audit and permitted non-audit services to be provided by the independent auditors or any other registered public accounting firm engaged by us, and establishing pre-approval policies and procedures; 

    ●
    reviewing and discussing with the independent auditors all relationships the auditors have with us in order to evaluate their continued independence; 

    ●
    setting clear hiring policies for employees or former employees of the independent auditors; 

    ●
    setting clear policies for audit partner rotation in compliance with applicable laws and regulations; 

    ●
    obtaining and reviewing a report, at least annually, from the independent auditors describing (i) the independent auditor’s internal quality-control procedures and (ii) any material issues raised by the most recent internal quality-control review, or peer review, of the audit firm, or by any inquiry or investigation by governmental or professional authorities within the preceding five years respecting one or more independent audits carried out by the firm and any steps taken to deal with such issues; 

    ●
    reviewing and approving any related party transaction required to be disclosed pursuant to Item 404 of Regulation S-K promulgated by the SEC prior to us entering into such transaction; and 

    ●
    reviewing with management, the independent auditors, and our legal advisors, as appropriate, any legal, regulatory or compliance matters, including any correspondence with regulators or government agencies and any employee complaints or published reports that raise material issues regarding our financial statements or accounting policies and any significant changes in accounting standards or rules promulgated by the Financial Accounting Standards Board, the SEC or other regulatory authorities. 

49

Compensation Committee

Effective February 8, 2024, we established a compensation committee of the board of directors. Under the NYSE American listing standards and applicable SEC rules, we are required to have at least