Company: FOXX
Filing Date: 2025-11-21
Form Type: PRE 14A
Source: 0001213900-25-113635
Chunk: 18

Company: Foxx Development Holdings Inc.
Filing Date: 2025-11-21
Form: PRE 14A
Chunk 18
---
 “independent” directors within the meaning of the rules of the Nasdaq Stock Market, Inc. (“Nasdaq”). The Board has determined that the following current directors, constituting a majority of the members of the Board, are independent as defined in the applicable listing standards of Nasdaq: Ms. Miao, Mr. Miller and Mr. Chiang. As Ms. Miao’s replacement, Ms. Shen will continue to qualify as an independent director under the applicable listing standards of Nasdaq. Each current member of the Audit, Compensation, and Nominating and Governance Committees is an independent director pursuant to all applicable listing standards of Nasdaq. The Board has also determined that each current member of the Audit Committee and Ms. Shen also meet the additional independence standards for audit committee members established by the SEC, and each member of the Compensation Committee and Ms. Shen also qualifies as a “non -employeedirector” as defined in Rule 16b -3of the Securities Exchange Act of 1934, as amended. Independence Standard The Board examines the independence of the directors annually. For a director to be considered independent, the Board must determine that the director does not have any relationship with us or any of our affiliates, either directly or as a partner, shareholder or officer of an organization that has such a relationship which, in the opinion of the Board, would interfere with the exercise of independent judgment in carrying out the responsibilities of a director. Pursuant to Nasdaq Listing Rule 5605(a)(2), a director will not be considered independent if, among other things, the director has: •Been employed by the Company or its affiliates at any time in the current year or during the past three years; •Accepted, or has a family member who accepted, any payments from the Company or its affiliates in excess of $120,000 during any period of twelve consecutive months within the preceding three years (except for Board services, retirement plan benefits, non -discretionarycompensation or loans made by the Bank in accordance with applicable banking regulations); •An immediate family member who is, or has been in the past three years, employed by the Company or its affiliates as an executive officer; •Been, or has a family member who has been, a partner, controlling shareholder or an executive officer of any “for profit” business to which the Company made or from which it received, payments (other than those which arise solely from investments in the Company’s securities) that exceed 5% of the entity’s or the Company’s consolidated gross