Company: TPET
Filing Date: 2025-01-17
Form Type: 10-K
Source: 0001493152-25-002760
Chunk: 1056

Company: Trio Petroleum Corp.
Filing Date: 2025-01-17
Form: 10-K
Item: Item 4
Chunk 1056
---
    coordinating
    our board of directors’ oversight of our internal control over financial reporting, disclosure controls and procedures and
    code of business conduct and ethics;

    ●
    discussing
    our risk management policies;

    ●
    meeting
    independently with our internal auditing staff, if any, registered public accounting firm and management;

    ●
    reviewing
    and approving or ratifying any related person transactions; and

    ●
    preparing
    the audit committee report required by SEC rules.

The
members of our audit committee are William Hunter (chairperson), Thomas J. Pernice and John Randall. All members of our audit committee
meet the requirements for financial literacy under the applicable rules and regulations of the SEC and the NYSE American. Our board has
determined that William Hunter is an audit committee financial expert as defined under the applicable rules of the SEC and has the requisite
financial sophistication as defined under the applicable rules and regulations of the NYSE American. Under the rules of the SEC, members
of the audit committee must also meet heightened independence standards. Our board of directors has determined that all members of the
audit committee are independent under the heightened audit committee independence standards of the SEC and the NYSE American.

The
audit committee operates under a written charter that satisfies the applicable standards of the SEC and the NYSE American.

48

Compensation
Committee. The Compensation Committee’s responsibilities include:

    ●
    reviewing
    and approving, or recommending for approval by the board of directors, the compensation of our Chief Executive Officer and our other
    executive officers;

    ●
    overseeing
    and administering our cash and equity incentive plans;

    ●
    reviewing
    and making recommendations to our board of directors with respect to director compensation;

    ●
    reviewing
    and discussing annually with management our “Compensation Discussion and Analysis,” to the extent required; and

    ●
    preparing
    the annual compensation committee report required by SEC rules, to the extent required.

The
members of our compensation committee are Thomas J. Pernice (chair) and William Hunter. Each of the members of our compensation committee
is independent under the applicable rules and regulations of the NYSE American and is a “non-employee director” as defined
in Rule 16b-3 promulgated under the Exchange Act. The compensation committee operates under a written charter that satisfies the applicable
standards of the SEC and the NYSE American.

Nominating
and Corporate Governance