Company: IMG
Filing Date: 2025-07-30
Form Type: 10-K/A
Source: 0001641172-25-021542
Chunk: 90

Company: CIMG Inc.
Filing Date: 2025-07-30
Form: 10-K/A
Chunk 90
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 of the Company’s common stock to each of the Company’s five              
 independent directors. The restricted shares are scheduled to vest in full on the one-year anniversary of the grant date, subject    
 to each independent director’s continued service as a director of the Company. No options were granted during the fiscal year.       |
| ● | On                                                                                                                                   
 September 5, 2023 Tracy Ging notified the Company of her resignation from the Board of Directors. The restricted stock award granted 
 on March 17, 2023 was forfeited upon her resignation.                                                                                |

| 64 |

Compensation Committee Interlocks and Insider Participation

The current members of the compensation committee are Jinmei Guo Hellstroem, Changzheng Ye and Yanli Hou. All of these members are independent directors. The compensation committee is responsible for overseeing the Company’s compensation policies generally and making recommendations to the board of directors with respect to incentive compensation and equity-based plans of the Company that are subject to board of directors approval, evaluating executive officer performance and reviewing the Company’s management succession plan, overseeing and setting compensation for the Company’s directors and, as applicable, its executive officers and, as applicable, preparing the report on executive officer compensation that SEC rules require to be included in our Annual Report on Form 10-K. Currently, none of our executive officers are compensated by the Company and as such the compensation committee is not required to produce a report on executive officer compensation for inclusion in our Annual Report on Form 10-K.

During the fiscal year ended September 30, 2024 none of the Company’s executive officers served on the board of directors (or a compensation committee thereof or other board committee performing equivalent functions) of any entities that had one or more executive officers serve on the compensation committee or on the board of directors. No current or past executive officers or employees of the Company or its affiliates serve on the compensation committee.

Clawback Policy

On January 20, 2023, our Board of Directors adopted Incentive-Based Compensation Clawback Policy (“Clawback Policy”), which provides for the clawback of certain compensation in the event that the Company is required to prepare an accounting restatement due to the material noncompliance of the Company with any financial reporting requirements. The Clawback Policy is a supplement to any other clawback policies in effect now or in the future at the Company. The Incentive-Based Compensation subject to clawback is the Incentive-Based Compensation Received during the three completed fiscal years immediately preceding the date that the Company is