Company: NTWK
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001493152-25-015950
Chunk: 142

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-09-29
Form: 10-K
Item: Item 1
Chunk 142
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PECTIONS

NONE

28

PART
III

ITEM
10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 

Section
16(a) Beneficial Ownership Reporting Compliance

Section
16(a) of the Securities Exchange Act of 1934, as amended, requires that the Company’s directors and executive officers and persons
owning more than 10% of the outstanding Common Stock, file reports of ownership and changes in ownership with the Securities and Exchange
Commission (“SEC”). Executive officers, directors and beneficial owners of more than 10% of the Company’s Common Stock
are required by SEC regulation to furnish the Company with copies of all Section 16(a) forms they file.

Based
solely on copies of such forms furnished as provided above, or written representations that no such forms were required, the Company
believes that during the fiscal year ended June 30, 2025, all Section 16(a) filing requirements applicable to its executive officers,
directors and beneficial owners of more than 10% of its Common Stock were complied with.

CHANGE
IN MANAGEMENT AND BOARD OF DIRECTORS

Board
of Directors

At
the 2024 Annual Shareholders Meeting held in June 2025, a five-member board stood for election. The members were elected and, according
to the bylaws of the Company, shall retain their position as directors until the next meeting. The board of directors is made up of Mr.
Najeeb U. Ghauri (Chairman of the Board), Mr. Mark Caton, Ms. Malea Farsai, Mr. Kausar Kazmi and Mr. Ian Smith. Mr. Michael Francis did
not stand for re-election due to personal reasons and Mr. Ian Smith was nominated and elected to the Board.

Committees

During
the fiscal year 2025, the Audit Committee, the Compensation Committee and the Nominating and Corporate Government Committee were
structured as follows: The Audit Committee consisted of Mr. Kazmi, as Chair, with Mr. Caton and Mr. Francis as members. The
Compensation Committee consisted of Mr. Caton, as Chair, with Mr. Kazmi and Mr. Francis as its members. The Nominating and Corporate
Governance Committee consisted of Mr. Francis, as Chair, with Mr. Caton and Mr. Kazmi as its members. Following the annual
shareholders meeting, Mr. Ian Smith was appointed as the Chair of the Nominating and