Company: VLDXW
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0000950170-25-060611
Chunk: 12

Company: Velo3D, Inc.
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 12
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 its most recent review, our Board determined that Adrian Keppler, Stefan Krause, and Jason Lloyd, representing three of our five directors, are “independent directors” as defined under the applicable rules, regulations, and listing standards of Nasdaq and the applicable rules and regulations promulgated by the SEC. Our Board has also determined that all members of our audit committee, compensation committee and nominating and governance committee satisfy the relevant independence requirements. During 2024, Carl Bass, Benny Buller, Michael Idelchik, Bradley Kreger, Ellen Smith, Gabrielle Toledano, and Matthew Walters also served on our Board, each of whom, with the exceptions of Mr. Buller and Mr. Kreger, was also independent during the time he or she served.

Board of Directors and Committee Self-Evaluations

Throughout the year, our Board discusses corporate governance practices with management and third-party advisors to ensure that the Board and its committees follow practices that are optimal for us and our stockholders. Based on an evaluation process recommended by our nominating and governance committee pursuant to the committee’s authority set forth in its charter, the Board conducts an annual self-evaluation in order to determine whether the Board and its committees are functioning effectively.

Board of Directors Leadership Structure

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The nominating and governance committee periodically considers the leadership structure of our Board and makes such recommendations to our Board with respect thereto as appropriate. When the positions of Chairman and Chief Executive Officer are held by the same person, our Board may, by a majority vote of our independent directors, designate a “lead independent director.” In cases in which the Chairman and Chief Executive Officer are the same person, the Chairman schedules and sets the agenda for meetings of our Board in consultation with the lead independent director, and the Chairman, or if the Chairman is not present, the lead independent director, chairs such meetings. Our Board believes that it should maintain flexibility to select the Chairman of our Board and adjust our Board leadership structure from time to time. Currently, Arun Jeldi is the Chairman of our Board and our Chief Executive Officer. Our Board believes that Mr. Jeldi’s significant executive experience in additive manufacturing and in providing design and manufacturing services to the aerospace and defense industries make him well-qualified to serve as the Chairman of our Board. Our board appointed Dr. Keppler as our lead independent director. Our Board believes that its independence and oversight of management is currently maintained effectively through this leadership structure, the composition of our