Company: LDWY
Filing Date: 2025-10-06
Form Type: DEF 14A
Source: 0001104659-25-097035
Chunk: 6

Company: LENDWAY, INC.
Filing Date: 2025-10-06
Form: DEF 14A
Chunk 6
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 Philp and Mr. Swenson attended our last annual meeting of stockholders, which was held in 2024. Directors are expected to attend substantially all the meetings of the Board and the committees on which they serve, as well as the annual meeting of stockholders, except for good cause. Directors who have excessive absences without good cause will not be nominated for re-election or, in extreme cases, will be asked to resign or be removed. Committees of the Board of Directors The current membership of the Board’s standing committees is set forth in the following table.

| ​                   | ​ | ​      | ​ | ​                                       | ​ | ​                    |
| Director            |   | Audit  | ​ | Governance, Compensation and Nominating |   | Independent Director |
| Mary H. Herfurth    | ​ | Chair  | ​ | ​                                       | ​ | ü                    |
| Chad B. Johnson     | ​ | Member | ​ | Member                                  | ​ | ü                    |
| Mark R. Jundt       | ​ | ​      | ​ | ​                                       | ​ | ​                    |
| Matthew R. Kelly    | ​ | Member | ​ | Member                                  | ​ | ü                    |
| Daniel C. Philp     | ​ | ​      | ​ | ​                                       | ​ | ​                    |
| Nicholas J. Swenson | ​ | ​      | ​ | Chair                                   | ​ | ü                    |

Audit Committee Independence; Qualifications. Each of the members of the Audit Committee is an “independent director” as that term is defined by the Nasdaq rules and “independent” as that term is defined by Rule 10A-3(b)(1) under the Securities Exchange Act of 1934. The Board has also determined that Ms. Herfurth has acquired the attributes necessary to qualify her as an “audit committee financial expert,” as that term is defined by the rules of the SEC. The determination for Ms. Herfurth was based primarily on experience analyzing and evaluating financial statements as a bank regulator and an evaluator of credit from both bank and non-bank lending in previous positions with The Office of the Comptroller of the Currency, Interface Financial Group, GMAC-RESCAP and Fingerhut.

4

Duties and Responsibilities. The Audit Committee provides independent objective oversight of the Company’s financial reporting system. As part of its responsibilities, the committee reviews and evaluates significant matters relating to the annual audit and the internal controls of the Company and communicates its analysis with management