Company: XTIA
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032213
Chunk: 192

Company: XTI Aerospace, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 192
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 and practiced IP law at two international. law firms in the US. He also advises
global corporate, NGOs, NPOs and ed-institutions on M&A strategies, CSG/SRI, strategic sustainability & governance, inter-faith
bridge-building, diversity/cultural sensitivity, international collaborations, and industry-oriented management/Leadership programs. Mr. Irfan
is a graduate of DePaul University College of Law, holds a MS in Computer Engineering from the University of Illinois, and a BS in Electronics
Engineering from Bangalore University.

Mr. Irfan’s
extensive experience in advising information technology companies, managing corporate governance and regulatory management policies,
including over 30 years as a business strategist and over fifteen years of executive management leadership give him strong
qualifications and skills to serve on our Board.

Family
Relationships

There
are no family relationships between any of our directors and executive officers.

55

Our Board

Our
Board may establish the authorized number of directors from time to time by resolution. The current authorized number of directors is
five (5). In accordance with the terms of our bylaws, as amended, our Board is divided into three classes, Class I, Class II and Class
III, with members of each class serving staggered three-year terms. Upon the expiration of the term of a class of directors, directors
in that class will be eligible to be elected for a new three-year term at the annual meeting of stockholders in the year in which their
term expires. The directors are divided among the three classes as follows:

    ●
    the
    Class I directors are Scott Pomeroy and Soumya Das, and their terms will expire at our annual meeting of stockholders to be held
    in 2027;

    ●
    the
    Class II director is Kareem Irfan, and his term will expire at our annual meeting of stockholders to be held in 2025; and

    ●
    the
                                            Class III director are Tensie Axton and David Brody and their terms will expire at our annual
                                            meeting of stockholders to be held in 2026.

We expect that any additional directorships resulting from an increase
in the number of directors will be distributed among the three classes so that, as nearly as possible, each class will consist of one-third
of the directors. The division of our Board into three classes with staggered three-year terms may delay or prevent a