Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 1732

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 6
Chunk 1732
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 on our website at
https://www.solunacomputing.com/investors/governance/. The Executive Committee consists of Messrs. Phelan (Chairman), Bottomley, Lipman,
and Toporek. The Board has determined that each of Mr. Phelan and Mr. Bottomley are independent, as defined under the applicable rules
and listing standards of Nasdaq.

The
purpose of the Executive Committee is to represent and assist the Board in its review and approval of certain transactions and other
matters requiring Board consideration, and to take action, where necessary, appropriate and authorized by the Board during intervals
between regular and special meetings of the Board. The Executive Committee has authority to: 1) monitor the management’s performance
against the approved budget of record; 2) authorize mining equipment purchase transactions up to the total uncommitted value of the current
budget for mining equipment purchase transactions as approved by the Board; 3) authorize the price at which equity securities of the
Company are sold; 4) authorize the payment of dividends to holders of preferred stock of the Company, provided that the Chief Financial
Officer of the Company confirms, in advance of any such payment, the sufficiency of the Company’s available funds and financial
ability to make any such payment; and 5) identify and assess business risks and develop and propose recommendations to management and
the Board to minimize such risks. Notwithstanding anything in the foregoing, the Executive Committee is not authorized to 1) take any
action that requires an adoption by an independent majority of the Board; 2) complete any transaction that would have a material effect
on the Company’s financial statements; or 3) complete any transaction that qualifies as a related party transaction.

Delinquent
Section 16(a) Reports

Section
16(a) of the Exchange Act requires our directors, executive officers and persons who beneficially own more than 10% of our outstanding
common shares to file reports with the SEC regarding their share ownership and changes in their ownership of our common shares. Based
on our records and representations from our directors and executive officers, we believe that all Section 16(a) filing requirements applicable
to our directors and executive officers were complied with during the fiscal year ended December 31, 2024, except for the following:
due to administrative error, Mr. Lipman and Mr. Toporek failed to timely file Form 4s on October 31, 2024, to report the disposition
of