Company: OCEA
Filing Date: 2025-02-26
Form Type: DEF 14A
Source: 0001493152-25-008279
Chunk: 18

Company: Ocean Biomedical, Inc.
Filing Date: 2025-02-26
Form: DEF 14A
Chunk 18
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 positions should be separate or combined, we traditionally determined that it is in the best interests of the Company and its shareholders to no longer combine these roles and currently these roles are separated.

Our Board is primarily responsible for overseeing our risk management processes. The Board receives and reviews periodic reports from management, auditors, legal counsel, and others, as considered appropriate regarding the Company’s assessment of risks. The Board focuses on the most significant risks facing the Company and our general risk management strategy, and also ensures that risks undertaken by us are consistent with the Board’s risk parameters. While the Board oversees the Company, our management is responsible for day-to-day risk management processes. We believe this division of responsibilities is the most effective approach for addressing the risks facing the Company and that our board leadership structure supports this approach.

Compliance with Section 16(a) of the Exchange Act

Section 16(a) of Exchange Act requires our executive officers and directors and persons who beneficially own more than 10% of a registered class of our equity securities to file with the Commission initial statements of beneficial ownership, statements of changes in beneficial ownership and annual statement of changes in beneficial ownership with respect to their ownership of the Company’s securities, on Form 3, 4 and 5 respectively. Executive officers, directors and greater than 10% shareholders are required by the Securities and Exchange Commission regulations to furnish our Company with copies of all Section 16(a) reports they file.

We have not reviewed these and are not reporting thereon.

EXECUTIVE COMPENSATION

Executive Compensation for our named executive officers as of December 31, 2023:

| Name                   
 & Principal Position   |     | Year |     | Salary |     | Bonus |     | Share-Based 
 Awards      |     | Option-Based 
 Awards       |     | All                
 Other Compensation |     | Total        
 Compensation |
| Employment             
 and Related Agreements |     |      |     |        |     |       |     |             |     |              |     |                    |     |              |

There are no written agreements with the current CEO and CFO.

| 15 |

Outstanding Equity Awards at December 31, 2024

| Name |     | Number of                                                 
 securities underlying unexercised options (#) exercisable |     | Number of                                                   
 securities underlying unexercised options (#) unexercisable |     | Equity incentive                                                              
 plan awards: Number of securities underlying unexercised unearned options (#) |     | Option             
 exercise price ($)