Company: OKMN
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001079973-25-001512
Chunk: 186

Company: OKMIN RESOURCES, INC.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 1B
Chunk 186
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 actively sought out as an advisor to organizations and charitable foundations on the West Coast.

Directors hold office until
the next annual meeting, or by written consent, of the Company’s shareholders, and the election and qualification of their successors.
Officers hold office at the pleasure of the Company’s Board of Directors, and are subject to removal at any time by the Board.

Board Leadership Structure and Role in Risk Oversight

Our Board of Directors (“Board”) is primarily
responsible for overseeing our risk management processes on behalf of the Company. The Board receives and reviews periodic reports from
management, auditors, legal counsel, and others, as considered appropriate regarding our company’s assessment of risks. In addition,
the Board focuses on the most significant risks facing our company and our company’s general risk management strategy, and also
ensures that risks undertaken by our company are consistent with the board’s appetite for risk. While the Board oversees our company’s
risk management, management is responsible for day-to-day risk management processes. We believe this division of responsibilities is the
most effective approach for addressing the risks facing our company and that our board leadership structure supports this approach.

Family Relationships

There is no family relationship between the individuals
serving as executive officers and directors.

Involvement in Certain Legal Proceedings

During the past ten years, none of the persons serving
as our executive officers and directors has been the subject of any of the following legal proceedings that are required to be disclosed
pursuant to Item 401(f) of Reg. S-K: (a) any bankruptcy petition filed by or against any business of which such person was a general partner
or executive officer either at the time of the bankruptcy or within two years prior to that time; (b) any criminal convictions or any
criminal proceedings in which the person is a named subject (excluding traffic violations and other minor offenses); (c) any order, judgment,
or decree permanently or temporarily enjoining, barring, suspending or otherwise limiting his involvement in any type of business, securities
or banking activities; (d) any finding by a court, the SEC or the CFTC to have violated a federal or state securities or commodities law,
any law or regulation respecting financial institutions or insurance companies, or any law or regulation prohibiting mail or wire fraud
in connection with any business entity; or (e) any sanction or order of any self-regulatory organization, any registered entity, or any
equivalent exchange, association, entity or other organization that has disciplinary authority over its members