Company: OSIS
Filing Date: 2025-10-22
Form Type: DEF 14A
Source: 0001104659-25-101517
Chunk: 16

Company: OSI SYSTEMS INC
Filing Date: 2025-10-22
Form: DEF 14A
Chunk 16
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SHIPS AND RELATED TRANSACTIONS In 1994, we, together with Electronics Corporation of India Limited (“ECIL”), an unaffiliated Indian company, formed ECIL-Rapiscan Security Products Limited, a joint venture under the laws of India (“ECIL Rapiscan”). We own a 36% interest in the joint venture, Mr. Mehra owns a 4.5% interest, and Mr. Chopra owns a 10.5% interest. The remaining interest in the joint venture is owned by ECIL. To date, our portion of the earnings of ECIL Rapiscan has been immaterial to our financial results and results of operations. Mohinder Chopra, who is the brother of Deepak Chopra, our Executive Chairman of the Board, is our Senior Vice President/General Manager India. His total compensation for fiscal year 2025 calculated using the same methodology as used in the Summary Compensation Table was valued at approximately $430,000. Gerald Chizever, a member of our Board, was a partner at Loeb & Loeb LLP through December 2024. Loeb & Loeb advises the Company in various matters from time to time. The fees paid by the Company to Loeb & Loeb in each of the past three fiscal years were significantly below the applicable threshold outlined in The NASDAQ Stock Market guidelines for determining director independence. Our Board carefully reviewed the nature of our engagement of Loeb & Loeb and the services rendered, including nominal fees relative to Loeb & Loeb’s annual revenues, the expertise and relevant experience of the firm, the firm’s and specific partners’ knowledge of our Company and our business and past legal engagements, and the fees paid in such engagements, and determined that Mr. Chizever is independent under the standards of The NASDAQ Stock Market. The Audit Committee of the Board reviews proposed transactions in which the Company and any person who is a member of the Board, a nominee to become a member of the Board, an executive officer of the Company, a holder of more than five percent of our voting securities, or any immediate family member of any of the foregoing would have a direct or indirect material interest in the transaction and the amount involved, when added together with the amounts of all other transactions with that related person for that fiscal year, exceeds $75,000. The review involves an evaluation, without participation by any member of the Audit Committee with a direct or indirect material interest in the transaction, of whether the transaction would be on terms at least as