Company: LDWY
Filing Date: 2025-10-06
Form Type: DEF 14A
Source: 0001104659-25-097035
Chunk: 34

Company: LENDWAY, INC.
Filing Date: 2025-10-06
Form: DEF 14A
Chunk 34
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ary, Mr. Jansen is generally entitled to pro rata participation in distributions subject to any capital account balances or other terms of the LLC Agreement.

On September 15, 2025, the U.S. Subsidiary adopted a Second Amended and Restated Limited Liability Company Agreement, which (i) fixed the existing membership interest percentage among the two members, regardless of capital account balances and (ii) prioritizes the repayment of unreturned capital contributions to the members in the payment of future distributions, if any. The Company’s contribution of $4 million to Tulp 24.1, LLC was also excluded from the members’ pre-emptive rights.

The text of the Second Amended and Restated Limited Liability Company Agreement was filed as Exhibit 10.3 to the Company’s current report on Form 8-K filed with the SEC on September 18, 2025.

Related Person Transaction Approval Policy

The SEC has specific disclosure requirements covering certain types of transactions that we engage in with our directors, executive officers or other specified parties. The Company receives an informational questionnaire from each director, nominee for director, executive officer, and greater than five percent shareholder which contains information about related-party transactions between them and the Company. The Company’s Audit Committee Charter assigns to the Audit Committee the responsibility to review and approve all related-party transactions. The Audit Committee maintains a written policy for reviewing, approving and monitoring transactions involving the Company and related persons. The committee reviews and must approve any related person transaction in which the Company is a participant before commencement of the transaction; provided, however, that if a related person transaction is identified after it commences, it will be brought to the committee for review and possible ratification. In determining whether to approve a related person transaction, the Audit Committee will analyze factors such as whether the transaction is material to the Company, the nature of the related person’s interest in the transaction, including their role in arranging the transaction, whether the transaction would impair the judgement of a director or executive officer to act in the best interests of the Company and its stockholders, and whether the terms are fair to the Company. The Audit Committee will approve or ratify a transaction only if it determines that the transaction is beneficial to the Company and that the terms of the transaction are fair to the Company. Approval of a related person transaction may be conditioned upon the Company and the related person following certain procedures designated in connection with its approval. With regard to any transaction for which ratification is sought, the Audit Committee may require amendment or termination