Company: STAK
Filing Date: 2025-11-05
Form Type: 20-F
Source: 0001493152-25-020818
Chunk: 106

Company: STAK Inc.
Filing Date: 2025-11-05
Form: 20-F
Item: Item 6
Chunk 106
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 include the term of the award, the provisions applicable in the event of the grantee’s employment or service terminates, and our authority to unilaterally or bilaterally amend, modify, suspend, cancel or rescind the award.
 
Eligibility. We may grant awards to our employees, directors and consultants of our company, and other individuals, as determined by the plan administrator. However, we may grant options that are intended to qualify as incentive share options only to our employees and employees of our parent companies and subsidiaries.
 
Vesting schedule. In general, the plan administrator determines the vesting schedule, which is specified in the relevant award agreement.
 
Exercise of options. The plan administrator determines the exercise price for each award, which is stated in the award agreement. The vested portion of option will expire if not exercised prior to the time as the plan administrator determines at the time of its grant, except that the maximum exercisable term is ten years from the date of a grant.

6.C.     Board  
       Practices
----------------
Board of Directors
 
Our board of directors consists of four directors. A director is not required to hold any shares in our Company to qualify to serve as a director. The Corporate Governance Rules of the Nasdaq generally require that a majority of an issuer’s board of directors consist of independent directors.
 
Our board of directors currently consists of one director and three independent directors. Our board of directors has determined that each of Professor Xu, Professor Hu, and Johannes AG Beekmans is an “independent director” as defined under the Nasdaq rules. Our board of directors is composed of a majority of independent directors.
 

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Committees of the Board of Directors
 
We have established an audit committee, a compensation committee and a nomination committee under our board of directors. We have adopted a charter for each of the three committees. Each committee’s members and functions are described below.
 
Audit Committee.
 
Our Audit Committee consists of our three independent directors, and is chaired by Zhaohui Randall Xu. We have determined that each member of our Audit Committee will satisfy the requirements of Section 303A of the Corporate Governance Rules/ Rule 5605(c)(2) of the Listing Rules of the Nasdaq and meet the independence standards under Rule 10A-3 under the Exchange Act. We have determined that Zhaohui Randall Xu qualifies as an “audit committee financial expert.” The Audit Committee oversees our accounting and financial reporting processes and the audits of the financial statements of our Company. The