Company: KRO
Filing Date: 2025-03-25
Form Type: DEF 14A
Source: 0001257640-25-000009
Chunk: 56

Company: KRONOS WORLDWIDE INC
Filing Date: 2025-03-25
Form: DEF 14A
Chunk 56
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| ● | termination of the Merged Plan would permanently remove all plan assets, liabilities and accumulated other comprehensive income from the Kronos Worldwide financial statements. |

As part of such presentation, our chief financial officer advised the committee of his belief that the terms of the merger are consistent with the terms of applicable law and regulations, and are fair and reasonable to us, and are on terms no less favorable than could be obtained from unrelated parties, and provided the committee with his recommendation that the committee approve, adopt and ratify the merger in all respects. After considering the information contained in the presentation, including the recommendation of our chief financial officer, and following further discussion and review by the audit committee, our audit committee determined that the terms of the merger are fair and reasonable to us and on terms no less favorable than could be obtained by unrelated parties, in each case based on the collective business judgment and experience of members of the committee, and the committee approved, adopted and ratified the merger in all respects. In February 2025, our board of directors approved the termination of the Merged Plan, with an effective date of June 30, 2025. We anticipate that the completion of the Merged Plan termination will occur in the second half of 2026, following the receipt of all necessary regulatory approvals.

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AUDIT COMMITTEE REPORT Our audit committee of the board of directors is composed of five directors and operates under a written charter adopted by the board of directors. All members of our audit committee meet the independence standards established by the board of directors and the NYSE and promulgated by the SEC under the Sarbanes-Oxley Act of 2002. Three members of our audit committee meet the audit committee financial expert requirements under the applicable SEC rules. The audit committee charter is available on our websitewww.kronosww.comunder the investors-corporate governance section, and our audit committee reviews the adequacy of and compliance with such charter annually. Our management is responsible for, among other things, preparing our consolidated financial statements in accordance with accounting principles generally accepted in the United States of America, or “GAAP,” establishing and maintaining internal control over financial reporting (as defined in Securities Exchange Act Rule 13a-15(f)) and evaluating the effectiveness of such internal control over financial reporting. Our independent registered public accounting firm is responsible for auditing our consolidated financial statements in accordance with the standards of the PCAOB, and for expressing an opinion on the conformity of the financial statements with GAAP. Our independent registered public