Company: ELSE
Filing Date: 2025-03-19
Form Type: DEF 14A
Source: 0000897101-25-000161
Chunk: 22

Company: ELECTRO SENSORS INC
Filing Date: 2025-03-19
Form: DEF 14A
Chunk 22
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 assessment of, and reporting on, the effectiveness of internal control over financial
reporting. The independent auditors are responsible for expressing an opinion on the conformity of those audited financial statements
with accounting principles generally accepted in the United States.

The Audit Committee
has reviewed and discussed with management and the independent auditors the Company’s audited financial statements for the
year ended December 31, 2024, and discussed with management the effectiveness of the Company’s internal control over financial
reporting as of December 31, 2024 contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024,
including a discussion of the reasonableness of significant judgments and the clarity of disclosures in the financial statements.
The Audit Committee also reviewed and discussed with management and the independent auditors the disclosures made in “Management’s
Discussion and Analysis of Financial Condition and Results of Operations” included in the Company’s 2024 Annual Report
to Shareholders and its Annual Report on Form 10-K for the year ended December 31, 2024.

The Audit Committee
has discussed with the independent auditors the matters required to be discussed by the applicable requirements of the Public Company
Accounting Oversight Board (“PCAOB”) and the SEC. In addition, the Audit Committee has discussed with the independent
auditors the auditor’s independence from the Company and its management. The Audit Committee has received the written disclosures
and the letter provided by the independent auditors to the Audit Committee as required by applicable requirements of the PCAOB
regarding the independent auditor’s communications with the Audit Committee concerning independence, and has considered the
compatibility of non-audit services with the auditor’s independence.

The Audit Committee
discussed with the Company’s independent auditors the overall scope and plans for their integrated audit. The Audit Committee
meets with the independent auditors, with and without management present, to discuss the results of their examinations, their evaluations
of the Company’s internal controls and the overall quality of the Company’s financial reporting.

Based on the reviews
and discussions referred to above, the Audit Committee recommended to the Board of Directors, and the Board has approved, that
the audited financial statements for the year ended December 31, 2024 be included in the Company’s Annual Report on Form
10-K for the year ended December 31, 2024 for filing with the SEC.

<div align='center'>Audit Committee

Scott A. Gabbard, Chair

Joseph