Company: GPAC
Filing Date: 2025-10-14
Form Type: S-1
Source: 0001140361-25-038051
Chunk: 242

Company: General Purpose Acquisition Corp.
Filing Date: 2025-10-14
Form: S-1
Chunk 242
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 registration and shareholder rights agreement to be entered into on or prior to the closing of this offering, our sponsor, upon and following consummation of an initial business combination, will be entitled to nominate three individuals for election to our board of directors, as long as the sponsor holds any securities covered by the registration and shareholder rights agreement. Our officers are appointed by the board of directors and serve at the discretion of the board of directors, rather than for specific terms of office. Our board of directors is authorized to appoint persons to the offices set forth in our amended and restated memorandum and articles of association as it deems appropriate. Our amended and restated memorandum and articles of association will provide that our officers may consist of one or more chairman of the board, chief executive officer, chief financial officer, chief business officer, president, vice presidents, secretary, treasurer and such other offices as may be determined by the board of directors. 153 TABLE OF CONTENTS Director Independence Nasdaq listing standards require that a majority of our board of directors be independent. An “independent director” is defined generally as a person other than an officer or employee of the company or its subsidiaries or any other individual having a relationship with the company which in the opinion of the company’s board of directors, could interfere with the director’s exercise of independent judgment in carrying out the responsibilities of a director. We have “independent directors” as defined in Nasdaq’s listing standards and applicable SEC rules. Our board of directors has determined that Alexandros Argyros, Chele Farley, Warren Hosseinion andJonathan Intrater are “independent directors” as defined in the Nasdaq listing standards and SEC rules. Our independent directors will have regularly scheduled meetings at which only independent directors are present. Executive Officer and Director Compensation None of our officers or directors have received any cash compensation for services rendered to us. As described under “Principal Shareholders,” Alexandros Argyros, Chele Farley, Warren Hosseinion and Jonathan Intrater, our Chief Financial Officer and independent directors will receive membership interests in our sponsor as compensation for their service as Chief Financial Officer and as directors, respectively, to the company. Stewart Crawford will receive membership interests in our sponsor representing 25,000 founder shares for his service as Chief Financial Officer, and each of Alexandros Argyros, Chele Farley, Warren Hosseinion and Jonathan Intrater will receive membership interests in our sponsor representing 25,000, 25,000, 25,000 and 30,000 founder shares