Company: MYND
Filing Date: 2025-03-26
Form Type: 20-F
Source: 0001628280-25-014832
Chunk: 49

Company: Mynd.ai, Inc.
Filing Date: 2025-03-26
Form: 20-F
Item: Item 6
Chunk 49
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 diluted basis, on the last day of our immediately preceding fiscal year. Pursuant to this annual increase, an additional 27,731,110 ordinary shares became available for issuance under the Incentive Plan on January 1, 2025. The Board has the authority to amend, suspend or terminate the Incentive Plan. No amendment, suspension or termination will be effective without the approval of the Company’s shareholders if such approval is required under applicable laws, rules and regulations.

During 2024, we awarded restricted share units ("RSUs") under the Incentive Plan to certain of our officers, directors and employees, representing an aggregate of 43,061,160 ordinary shares. The RSUs are subject to a vesting period as set forth in the corresponding award agreement and shall, unless otherwise provided therein, be forfeited if the recipient shall cease performing services for the Company. As of the date of this Annual Report, awards representing an aggregate of 57,166,560 ordinary shares (5,716,656 ADSs) are outstanding under the Incentive Plan, none of which have vested.

C. Board Practices

Board of Directors

Our board of directors consists of seven directors. None of our non-employee directors has a service contract with us that provides for benefits upon termination of service.

Director Independence

Our board of directors has undertaken a review of the independence of the directors and considered whether any director has a relationship with us that could interfere with such director’s ability to exercise independent judgment in carrying out the responsibilities of a director. As a result of this review, our board of directors determined that Dr. John Quelch, Denise Merle, Robin Mendelson, Dr. Tarek Shawki and Joel Getz, representing five of our seven directors, are “independent directors” as that term is defined under the applicable rules and regulations of the SEC and the listing requirements and corporate governance rules of the NYSE (collectively, the "Listing Standards"). In making such determination, our board of directors considered the relationships that each non-employee director has with us and all other facts and circumstances our board of directors deemed relevant in determining the director’s independence, including the number of ordinary shares beneficially owned by the director.

Tab l e of contents

Board Committees

Our Board has three standing committees: an Audit Committee; a Compensation Committee; and a Nominating and Corporate Governance Committee. Each of the committees reports to the Board as it deems appropriate and as the Board may request. The composition,