Company: CRWS
Filing Date: 2025-06-27
Form Type: DEF 14A
Source: 0001437749-25-021381
Chunk: 15

Company: CROWN CRAFTS INC
Filing Date: 2025-06-27
Form: DEF 14A
Chunk 15
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 over executive session of the independent directors, consult as appropriate with the Chairman of the Board or the Chief Executive Officer, oversee the flow of information to the Board and acts as liaison between the non-employee directors and management. The Lead Independent Director would also serve as a focal point for the independent directors, thereby enhancing and clarifying the Board’s independence from management. The Lead Independent Director would also have such other responsibilities as may be delegated to the Lead Independent Director by the Board from time to time.

As stated in our Principles of Corporate Governance, the Board believes that it is in the best interests of the Company for the Board to periodically evaluate and make a determination regarding whether or not to separate the roles of Chairman of the Board and Chief Executive Officer based upon the circumstances. We believe that the Board’s leadership structure, policies, and practices, when combined with our other governance policies and procedures, function well in:

| • | Strengthening Board leadership; |

| • | Fostering cohesive decision making at the Board level; |

| • | Solidifying director collegiality; |

| • | Improving problem solving; and |

| • | Enhancing strategy formulation and implementation. |

Board Committees

During fiscal year 2025, the Board had the following standing committees: Audit Committee, Compensation Committee, Nominating, Governance and Ethics Committee, and Capital Committee. The responsibilities assigned by the Board to each of these committees are briefly described below.

Audit Committee.The Audit Committee has been established in accordance with Section 3(a)(58)(A) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”).The Audit Committee is currently comprised of three directors, none of whom is a current or former employee of the Company or any of its subsidiaries and all of whom are, in the opinion of the Board, free from any relationship that would interfere with the exercise of their independent judgment in the discharge of the Audit Committee’s duties. See “Report of the Audit Committee.” The Audit Committee has adopted a formal, written charter, which has been approved by the full Board and which specifies the scope of the Audit Committee’s responsibilities and how it should carry them out. The complete text of the Audit Committee charter is available on the Company’s website at www.crowncrafts.com.

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The Audit Committee represents the Board in discharging its responsibility relating to the accounting, reporting and financial practices of the Company and its subsidiaries. Its primary functions include monitoring the integrity of the Company’s financial statements