Company: TRUE
Filing Date: 2025-04-08
Form Type: DEF 14A
Source: 0001104659-25-033025
Chunk: 18

Company: TrueCar, Inc.
Filing Date: 2025-04-08
Form: DEF 14A
Chunk 18
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 The number of directors is fixed by our Board, subject to the terms of our Amended and Restated Certificate of Incorporation, or Charter, and our Amended and Restated Bylaws, or Bylaws, that became effective at the completion of our initial public offering. Our Board currently consists of six directors, five of whom qualify as “independent” under the listing standards of the Nasdaq Stock Market, which we refer to as Nasdaq. In accordance with our Charter and Bylaws, our Board is divided into three classes with staggered three-year terms. Only one class of directors is elected at each annual meeting of our stockholders, with the other classes continuing for the remainder of their respective three-year terms. As of the date of this proxy statement, our directors are divided among the three classes as follows: • the Class I directors are Ms. Carbone and Messrs. Reigersman and Rodriguez, and their terms will expire at the annual meeting of stockholders to be held in 2027. • the Class II directors are Mr. Buce and Ms. Iosotaluno, and their terms will expire at the Annual Meeting; and • the Class III director is Mr. Harrington and his term will expire at the annual meeting of stockholders to be held in 2026. Ms. Iosotaluno is standing for election at the Annual Meeting and Mr. Buce is retiring effective as of the expiration of his term at the Annual Meeting. The division of our Board into three classes with staggered three-year terms may delay or prevent a change of our management or a change in control. Under Delaware law, our directors may only be removed for cause by the 11 TABLE OF CONTENTS 2025 ANNUAL PROXY STATEMENT affirmative vote of the holders of a majority of our outstanding voting stock. Our directors may not be removed by our stockholders without cause. Any increase or decrease in the number of directors must be distributed among the three classes so that, as nearly as possible (provided that no decrease in the number of directors may shorten the term of any serving director), each class will consist of one-third of the directors. Board Meetings and Director Communications During 2024, the Board held ten meetings. Each director attended at least 75% of the aggregate of the total number of meetings of the Board and the total number of meetings held by all committees of the Board on which he or she served during the periods that he or she served in 2024. Directors are also encouraged to attend our