Company: IMG
Filing Date: 2025-07-21
Form Type: 10-K
Source: 0001641172-25-020300
Chunk: 898

Company: CIMG Inc.
Filing Date: 2025-07-21
Form: 10-K
Item: Item 7A
Chunk 898
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son, resigned from the Board.

    ●
    On
    May 2, 2024, Mr. Kurita resigned from the Company’s board of directors.

    ●
    On
    June 6, 2024, Masateru Higashida and Kevin J. Conner resigned from the Board.

    ●
    On
    March 22, 2023, the Company granted 4,398 Restricted Shares of the Company’s common stock to each of the Company’s five
    independent directors. The restricted shares are scheduled to vest in full on the one-year anniversary of the grant date, subject
    to each independent director’s continued service as a director of the Company. No options were granted during the fiscal year.

    ●
    On
    September 5, 2023 Tracy Ging notified the Company of her resignation from the Board of Directors. The restricted stock award granted
    on March 17, 2023 was forfeited upon her resignation.

64

Compensation
Committee Interlocks and Insider Participation

The
current members of the compensation committee are Jinmei Guo Hellstroem, Changzheng Ye and Yanli Hou. All of these members are independent
directors. The compensation committee is responsible for overseeing the Company’s compensation policies generally and making recommendations
to the board of directors with respect to incentive compensation and equity-based plans of the Company that are subject to board of directors
approval, evaluating executive officer performance and reviewing the Company’s management succession plan, overseeing and setting
compensation for the Company’s directors and, as applicable, its executive officers and, as applicable, preparing the report on
executive officer compensation that SEC rules require to be included in our Annual Report on Form 10-K. Currently, none of our executive
officers are compensated by the Company and as such the compensation committee is not required to produce a report on executive officer
compensation for inclusion in our Annual Report on Form 10-K.

During
the fiscal year ended September 30, 2024 none of the Company’s executive officers served on the board of directors (or a compensation
committee thereof or other board committee performing equivalent functions) of any entities that had one or more executive officers serve
on the compensation committee or on the board of directors. No current or past executive officers or employees of the Company or its
affiliates serve on the compensation committee.

Clawback
Policy

On
January 20, 2023, our Board