Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 1941

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 10
Chunk 1941
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 is also currently a member of Harvard Business
School’s OPM 61 class. We believe Mr. Barry is qualified to serve as a member of the Board because of his significant investment
and mergers and acquisitions experience.

56

Number and Terms of Office of Officers and Directors 

Our Board consists of five members and is divided
into three classes with only one class of directors being appointed in each year, and with each class serving a three-year term. In accordance
with Nasdaq corporate governance requirements, we are not required to hold an annual meeting until one year after our first fiscal year
end following our listing on Nasdaq.

The term of office of the first class of directors,
consisting of Mr. Bransfield and Mr. Mudd, will expire at our first annual general meeting. The term of office of the second class of
directors, consisting of Ms. Remtulla and Mr. Alonso, will expire at our second annual general meeting. The term of office of the third
class of directors, consisting of Mr. Braatz and Mr. Barry, will expire at our third annual general meeting.

Our officers are appointed by the Board and serve
at the discretion of the Board, rather than for specific terms of office. Our Board is authorized to appoint officers as it deems appropriate
pursuant to our amended and restated memorandum and articles of association.

Board Role in Risk Oversight 

Our management is responsible for assessing and
managing risks in our business, subject to oversight by the Board. The Board is responsible for overseeing the Company’s processes
for assessing and managing risk. Each of the Chief Executive Officer and Chief Financial Officer, with input as appropriate from other
appropriate management members, report and provide relevant information directly to either the Board and/or the Audit Committee on various
types of identified material financial, reputational, legal, operational and business risks to which the Company is or may be subject,
as well as mitigation strategies for relevant risks. The Board focuses on our general risk oversight strategy and understanding the ways
in which management proactively manages risks and ensures that appropriate risk mitigation strategies are implemented by management.
Various committees of the Board assist the Board in this oversight responsibility in their respective areas of responsibility as described
in this Information Statement.

Director Independence 

Nasdaq listing standards require that a majority
of our Board be independent. An “independent director” is defined generally as a person who, in the opinion of the company’s
board of directors, has no material relationship with the listed company