Company: HGBL
Filing Date: 2025-04-22
Form Type: DEF 14A
Source: 0000950170-25-056713
Chunk: 16

Company: Heritage Global Inc.
Filing Date: 2025-04-22
Form: DEF 14A
Chunk 16
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 is defined under Item 407(d) of Regulation S-K. In making its determination that Ms. Sharpe qualifies as an “audit committee financial expert,” the Board considered her education and the nature and scope of Ms. Sharpe’s prior experience. The members of the Audit Committee are reviewed at least annually by the Board.

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The primary purpose of our Audit Committee is to oversee the integrity of our financial statements, our financial reporting process, the independent accountants’ qualifications and independence, the performance of the independent accountants and our compliance with legal and regulatory requirements on behalf of our Board. In particular, our Audit Committee performs the following key functions, among others:

reviewing our financial statements, reports, earnings press releases and other financial information (including internal procedures used in the preparation thereof) in conjunction with management and the independent auditor;

appointing our independent auditor and approving all audit and engagement compensation and terms, as well as all permitted non-audit services by our independent auditors, and meeting with our independent auditors to review and discuss certain financial measures;

reviewing the adequacy and effectiveness of our internal controls regarding accounting and financial matters;

reviewing and addressing conflicts of interests of directors and executive officers; and

reporting regularly to the full Board.

The Audit Committee met four times in 2024.

Compensation Committee

The Compensation Committee is composed entirely of directors who are independent as defined by the Nasdaq Stock Market Rules. The members of the Compensation Committee are Samuel Shimer and Michael Hexner, with Mr. Hexner serving as chair of the Compensation Committee.

The principal responsibilities of our Compensation Committee are to assist our Board by ensuring that our officers and key executives are compensated in accordance with our total compensation objectives and policies and to develop and implement these objectives and policies. In particular, the Compensation Committee is responsible for the following key functions, among others:

reviewing and approving corporate goals and objectives of executive compensation; and

evaluating and approving the compensation and benefits of our executive officers, and approving compensation for new executive officers hired.

For additional information regarding the committee’s processes and procedures for considering and determining executive compensation, including the role, if any, of executive officers in determining the amount or form of executive compensation, see “Compensation Discussion and Analysis” below.

The Compensation Committee met four times in 2024.

Corporate Governance Committee

The Corporate Governance Committee is composed entirely of directors who are independent, as defined by the Nasdaq Stock Market Rules. The members of the Corporate Governance Committee are Barbara