Company: ZRCN
Filing Date: 2025-09-10
Form Type: 10-K
Source: 0001641172-25-027037
Chunk: 43

Company: ZRCN Inc.
Filing Date: 2025-09-10
Form: 10-K
Item: Item 9C
Chunk 43
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 office until the next annual general meeting of our shareholders or until removed from office in accordance
with our bylaws. Our officers are appointed by our board of directors and hold office until removed by the board, subject to their respective
employment agreements.

32

Family
Relationships

There
are no family relationships between or among the directors, executive officers or persons nominated or chosen by us to become directors
or executive officers.

Involvement
in Certain Legal Proceedings

During
the past 10 years, none of our current directors, nominees for directors or current executive officers has been involved in any legal
proceeding identified in Item 401(f) of Regulation S-K.

Director
Independence

The
Board of Directors is currently composed of five members, which include John Stauss and Robert Wyler. Mr. Stauss and Mr. Wyler do not
qualify as independent in accordance with the published listing requirements of the NASDAQ. The NASDAQ independence definition includes
a series of objective tests, such as that the Director is not, and has not been for at least three years, one of Zircon’s employees
and that neither the Director, nor any of his/her family members has engaged in various types of business dealings with us.

Audit
Committee

Pursuant
to Section 4.2 of the Bylaws, the Board may, by resolution passed by a majority of the entire Board, designate one or more committees.
Pursuant to a Directors’ Resolution, Joe Bronson, Brian Wong, and Robert Wyler have each been appointed as members of the Audit
Committee of the Company. Mr. Bronson is considered the financial expert on our Audit Committee.

Nominating
and Compensation Committees

Our
compensation committee is chaired by Ms. Graebner and includes Mr. Wong and Mr. Stauss Our Nominating and Governance Committee is chaired
by Mr. Wong and includes Ms. Graebner and Mr. Stauss.

Code
of Business Conduct and Ethics

We
have not adopted a formal Code of Business Conduct and Ethics applicable to all Board members, officers and employees. We intend to adopt
one during the fiscal year ending March 31, 2026.

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ITEM
11. EXECUTIVE COMPENSATION

Summary
Compensation Table

The
following table presents the compensation awarded to, earned by or paid to each of our named executive officers for the fiscal year ended
March 31, 2025.

    Summary
    Compensation