Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 1673

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 9A
Chunk 1673
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 shareholder’s investment may be adversely affected
to the extent we pay the costs of settlement and damage awards against our officers and directors pursuant to these indemnification provisions.

We believe that these provisions, the insurance
and the indemnity agreements are necessary to attract and retain talented and experienced officers and directors.

Section 16(a) Beneficial Ownership Reporting Compliance 

Section 16(a) of the Exchange Act requires our
officers, directors and persons who own more than 10% of Class A Ordinary Shares to file reports of ownership and changes in ownership
with the SEC. Officers, directors and persons who beneficially own more than 10% of our Class A ordinary shares are required by regulation
to furnish us with copies of all Section 16(a) forms they file. To the best of our knowledge (based upon a review of such forms), we
believe that during the year ended December 31, 2024 there were no delinquent filers with the following exceptions: (i) each of APX Sponsor,
David Proman and Angel Moreno failed to timely file a Form 4 with respect to the transactions contemplated by the Purchase Agreement
and (ii) Kyle Bransfield failed to (i) timely file his Form 3 with respect to the transactions contemplated by the Purchase Agreement
and (ii) timely file a Form 4 relating to the conversion of Class B ordinary shares into Class A ordinary shares.

ITEM 11. EXECUTIVE COMPENSATION. 

None of our officers or directors have received
any cash compensation for services rendered to us. Commencing on the date that our securities are first listed on Nasdaq through the
earlier of consummation of our initial business combination and our liquidation, we were required to pay APX Sponsor or an affiliate
thereof up to $10,000 per month for office space, utilities, secretarial and administrative support services provided to members of our
management team and other expenses and obligations of APX Sponsor. In connection with the Sponsor Alliance, this agreement has been terminated.

In addition, our Sponsors, officers and directors,
or any of their respective affiliates will be reimbursed for any out-of-pocket expenses incurred in connection with activities on our
behalf such as identifying potential target businesses and performing due diligence on suitable business combinations. Our audit committee
will review on a quarterly basis all payments that were made to our Sponsors, officers or directors, or our or their affiliates. Any
such payments prior to an initial business combination will be made