Company: EDSA
Filing Date: 2025-04-04
Form Type: DEF 14A
Source: 0001171843-25-002028
Chunk: 16

Company: Edesa Biotech, Inc.
Filing Date: 2025-04-04
Form: DEF 14A
Chunk 16
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 identification of members who will further the interests of our shareholders through his or her established record of professional accomplishment, the ability to contribute positively to the collaborative culture among board members, knowledge of our business and understanding of the competitive landscape.

Board Meetings

Our Board met seven (7) times in fiscal 2024. Each director attended at least 75% of the aggregate of (i) the total number of meetings of our Board (held during the period for which such director served on the Board) and (ii) the total number of meetings of all committees of our Board on which such director served (during the periods for which the director served on such committee or committees). We do not have a formal policy requiring members of the Board to attend our annual meetings. All directors nominated for election at our 2024 annual meeting of shareholders attended the meeting.

Director Independence

Our common shares are listed on The Nasdaq Capital Market. Under the Nasdaq Listing Rules, independent directors must comprise a majority of our Board. In addition, the Nasdaq Listing Rules require that all the members of such committees be independent. Audit committee members must also satisfy the independence criteria set forth in Rule 10A-3 under the Securities Exchange Act of 1934, as amended, or the Exchange Act. Compensation committee members must also satisfy the independence criteria established by the Nasdaq Listing Rules in accordance with Rule 10C-1 under the Exchange Act. Under the Nasdaq Listing Rules, a director will only qualify as an “independent director” if, among other qualifications, in the opinion of that company’s Board, that person does not have a relationship that would interfere with the exercise of independent judgment in carrying out the responsibilities of a director.

Our Board undertook a review of its composition, the composition of its committees and the independence of each director. Based upon information requested from and provided by each director concerning his or her background, employment and affiliations, including family relationships, our Board has determined that Joan Chypyha, David Liu, Sean MacDonald, Patrick Marshall, Frank Oakes (Mr. Oakes was not nominated for re-election at the Annual Meeting), Charles Olson and Carlo Sistilli do not have a relationship that would interfere with the exercise of independent judgment in carrying out the responsibilities of a director and that each of these directors is “independent” as that term is defined under the Nasdaq Listing Rules and the SEC. Dr. Nijhawan is not an independent director under these rules because he is an executive officer of the Company.

Board Committees