Company: FOXX
Filing Date: 2025-10-15
Form Type: 10-K
Source: 0001213900-25-098953
Chunk: 1432

Company: Foxx Development Holdings Inc.
Filing Date: 2025-10-15
Form: 10-K
Item: Item 7A
Chunk 1432
---
 Before his election to state-wide
offices, Mr. Chiang began his career as a tax law specialist for the Internal Revenue Service. He then worked as an attorney for then-California
State Controller Gray Davis and also served on the staff of U.S. Senator Barbara Boxer. Mr. Chiang received his Bachelor of Science degree
with honors in finance from the University of South Florida and his Juris Doctor degree from Georgetown University Law Center.

32

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 which in the opinion of the Company’s Board of Directors, would
interfere with the director’s exercise of independent judgment in carrying out the responsibilities of a director. Our Board of
Directors has determined that determined that each of Ms. Miao, Mr. Miller and Mr. Chiang qualifies as “independent”
as defined under the applicable Nasdaq rules, and the Board of Directors consist of a majority of “independent directors,”
as defined under the rules of the SEC and Nasdaq relating to director independence requirements. In addition, we are subject to the rules
of the SEC and Nasdaq relating to the membership, qualifications and operations of the audit committee, as discussed below.

Committees
of the Board of Directors

Committees
of the Board

The
Board of Directors direct the management of our business and affairs, as provided by Delaware law, and conduct its business through meetings
of the Board and its standing committees. We have a standing audit committee, compensation committee, and nominating and corporate governance
committee, each of which operates under a written charter.

In
addition, from time to time, special committees may be established under the direction of the Board when the Board deems it necessary
or advisable to address specific issues. Current copies of our committee charters are posted on our website, as required by applicable
SEC and Nasdaq Stock Market rules. The information on or available through any of such website is not deemed incorporated in this Annual
Report and does not form part of this Annual Report.

Audit
Committee

Our
audit committee consist of Ms. Miao, Mr. Miller and Mr. Chiang, with Ms. Miao serving as its chair. The Board determines that
each of these individuals satisfies the independence