Company: XXII
Filing Date: 2025-06-06
Form Type: PRER14A
Source: 0001641172-25-013953
Chunk: 17

Company: 22nd Century Group, Inc.
Filing Date: 2025-06-06
Form: PRER14A
Chunk 17
---
 Ms. Salhany and Mr. Arno as Chair. Our Board of Directors has determined that Mr. Arno and Mr. Keys both meet the SEC’s definition of “audit committee financial expert,” and that all members of the Audit Committee meet the financial literacy requirements of the Nasdaq Stock Market. No members of the Audit Committee serve on the audit committees of more than three public companies. The Audit Committee held five meetings during 2024. To ensure independence, the Audit Committee also meets separately with our independent public accountants apart from meetings with members of management. Following the 2025 Annual Meeting, the Audit Committee will consist of Mr. Arno, Ms. Salhany and Mr. Keys as Chair.

| 9 |

The Compensation Committee is comprised solely of directors who meet the current Nasdaq requirements for independence. The Compensation Committee is comprised of Mr. Arno, Mr. Johnson and Ms. Salhany, as Chair. The Compensation Committee establishes and regularly reviews our compensation and benefits philosophy and program in a manner consistent with corporate financial goals and objectives. The Compensation Committee also approves compensation arrangements for senior management, including annual incentive and long-term compensation; administers grants under our equity incentive plans; annually evaluates the performance of our Chief Executive Officer; and reviews leadership development and succession planning. The Compensation Committee held two meetings in 2024. Following the 2025 Annual Meeting, the Compensation Committee will consist of Mr. Arno, Mr. Keys and Ms. Salhany as Chair.

The Corporate Governance and Nominating Committee is comprised solely of independent directors and is comprised of Ms. Salhany, Mr. Arno and Mr. Johnson, as Chair. The Corporate Governance and Nominating Committee develops and recommends to the Board corporate governance guidelines applicable to the Company; identifies, evaluates and recommends candidates for election to the Board; leads the Board in its annual review of the Board’s performance; and recommends Board members to serve on each committee of the Board. The Corporate Governance and Nominating Committee held three meetings in 2024. Following the 2025 Annual Meeting, the Corporate Governance and Nominating Committee will consist of Mr. Keys, Ms. Salhany Mr. Arno as Chair.

The guidelines and procedures for identifying and evaluating nominees for election to the Board are set forth in the charter of the Corporate Governance and Nominating Committee. In general, persons considered for nomination to the Board must have demonstrated outstanding achievement, integrity and judgment and such other skills and experience as will enhance the Board’s