Company: SHPH
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001493152-25-008300
Chunk: 779

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 3
Chunk 779
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 directors consist of Messrs. Richards and Schafer, Dr.
Senanayake and Dr. Jacobs.

75

Board
Committees

General

Our
board of directors has established three committees consisting of an audit committee, a compensation committee, and a nominating and
corporate governance committee. The members of each committee qualify as “independent” as defined under Nasdaq listing standards
and Rule 10A-3(b)(1). Moreover, at least one member of the audit committee qualifies as an “audit committee financial expert”
as the term is defined under Nasdaq listing standards and applicable rules and regulations of the SEC, based on their respective business
professional experience in the financial and accounting fields.

Audit
Committee

The
audit committee, which consists of Steve Richards, MBA, CPA (Chair), Bette Jacobs and Chris H. Senanayake, assists our board of directors
in its oversight of the Company’s accounting and financial reporting processes and the audits of the Company’s financial
statements, including (a) the quality and integrity of the Company’s financial statements (b) the Company’s compliance with
legal and regulatory requirements, (c) the independent auditors’ qualifications and independence and (d) the performance of the
Company’s internal audit functions and independent auditors, as well as other matters which may come before it as directed by the
board of directors. Further, the audit committee, to the extent it deems necessary or appropriate, among its several other responsibilities,
will:

    ●
    be
    responsible for the appointment, compensation, retention, termination and oversight of the work of any independent auditor engaged
    for the purpose of preparing or issuing an audit report or performing other audit, review or attest services for the Company;

    ●
    discuss
    the annual audited financial statements and the quarterly unaudited financial statements with management and the independent auditor
    prior to their filing with the SEC in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q;

    ●
    review
    with the Company’s management on a periodic basis (i) issues regarding accounting principles and financial statement presentations,
    including any significant changes in our Company’s selection or application of accounting principles; and (ii) the effect of
    any regulatory and accounting initiatives, as well as off-balance sheet structures, on the financial statements of the Company;

    ●
    monitor
    the Company’s policies for compliance with federal, state, local and foreign laws