Company: MGLD
Filing Date: 2025-09-23
Form Type: DEF 14A
Source: 0001493152-25-014569
Chunk: 24

Company: Marygold Companies, Inc.
Filing Date: 2025-09-23
Form: DEF 14A
Chunk 24
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 (4) formal Board meetings during 2024-2025 fiscal year and the Board handled certain matters by written consent on eight (8) occasions. All current directors attended in excess of 75% of the meetings of the board and the committees on which they serve during the last fiscal year. Independent directors meet on a regular basis as often as necessary to fulfill their responsibilities, including at least annually in executive sessions without the presence of non-independent directors and management.

Board Committees

Our Board directs the management of our business and affairs and conducts its business through meetings of the Board and the following standing committees: Audit Committee, Compensation Committee, and Nominating and Corporate Governance Committee.

Our corporate governance framework has established a standardized term limit for Chairpersons of its standing committees that aligns Chairperson terms with the Company’s annual stockholder meeting cycle and limiting service to three consecutive terms to promote leadership rotation and effective Board oversight. It is the policy of each standing committee that the Chairperson of each Committee shall be appointed annually by the Board and shall serve for a one-year term that coincides with the period between the Company’s annual stockholder meetings and the election of directors and no Chairperson shall serve more than three (3) consecutive one-year terms in such role, unless the Board determines that continued service is in the best interest of the Company; and following three consecutive terms, a Chairperson may be reappointed only after a one-year interval, unless otherwise determined by the Board.

Audit Committee.The Audit Committee is presently composed of three members of the Board: Derek Mullins, Chair, James Alexander, and Erin Grogan. The Audit Committee assists the Board in the oversight of the audit of our financial statements and the quality and integrity of its accounting, auditing and financial reporting processes. The Audit Committee also has the responsibility of reviewing the qualifications, independence and performance of our independent registered public accounting firm and is responsible for the appointment, retention, oversight and, where appropriate, termination of the independent registered public accounting firm, compliance with legal and regulatory requirements, and the performance of our internal audit function. During fiscal year 2025, the Audit Committee held four (4) meetings. The Board has determined that each of the members of the Audit Committee meets the criteria for independence under the applicable listing standards of the NYSE American Company Guide, and that Derek Mullins also qualifies as an “audit committee financial expert,” as defined by the rules adopted by the SEC. The Board has adopted a written charter for the Audit Committee, which is reviewed annually by the Audit Committee