Company: FCRS
Filing Date: 2025-09-05
Form Type: S-1
Source: 0001213900-25-085160
Chunk: 211

Company: FutureCrest Acquisition Corp.
Filing Date: 2025-09-05
Form: S-1
Chunk 211
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 of office of the first class of directors, which will consist of Messrs. Englebardt and Ginns, will expire at our first annual general meeting. The term of office of the second class of directors, which will consist of Mr.Semler, will expire at the second annual general meeting. The term of office of the third class of directors, which will consist of Messrs. Lee and Tsang, will expire at the third annual general meeting. Our officers are appointed by the board of directors and serve at the discretion of the board of directors, rather than for specific terms of office. Our board of directors is authorized to vote to appoint officers as it deems appropriate pursuant to our amended and restated memorandum and articles of association. Director Independence Nasdaq rules require that a majority of our board of directors be independent within one year of our initial public offering. An “independent director” is defined generally as a person who, in the opinion of the company’s board of directors, has no material relationship with the listed company (either directly or as a partner, shareholder or officer of an organization that has a relationship with the company). Upon the commencement of trading of our units on Nasdaq, we expect to have three “independent directors” as defined in Nasdaq rules and applicable SEC rules prior to 138 completion of this offering. Our board of directors expects to determine that Messrs. Semler, Ginns and Englebardt are “independent directors” as defined in Nasdaq listing standards and applicable SEC rules. Our independent directors will have regularly scheduled meetings at which only independent directors are present. Executive Officer and Director Compensation None of our executive officers or directors have received any cash compensation for services rendered to us. We are not prohibited from paying any fees (including advisory fees), reimbursements or cash payments to our sponsor, officers, directors or promoters, or our or their respective affiliates, for services rendered to us prior to or in connection with the completion of our initial business combination, including the following payments, all of which, if made prior to the completion of our initial business combination, will be paid from funds held outside the trust account: •Repayment of up to an aggregate of $300,000 in loans made to us by our sponsor to cover offering -relatedand organizational expenses; •Payment of advisory, consulting, success or finder fees to our independent directors, advisors, or their respective affiliates in connection with the consummation of our initial business combination; •We may engage our sponsor or an affiliate of our