Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 406

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 3
Chunk 406
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 Control-Integrated Framework (2013
Framework). Based on this assessment, our management concluded that, as of December 31, 2024, our internal control over financial
reporting was not effective based on those criteria.

Attestation
Report on Internal Control over Financial Reporting

This
Annual Report on Form 10-K does not include an attestation report of our independent registered public accounting firm due to the deferral
allowed given we are neither an accelerated nor a large accelerated filer.

Changes in Internal Control over Financial
Reporting

There were no changes in our internal control over
financial reporting during our most recent fiscal quarter that have materially affected, or are reasonably likely to materially affect,
our internal control over financial reporting.

ITEM
9B. OTHER INFORMATION.

None.

ITEM
9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS.

Not
applicable.

161

PART
III

ITEM
10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

Information
about directors, executive officers and corporate governance is presented under the same captions in our definitive Proxy Statement for
the Annual Meeting of Shareowners held in the first quarter of fiscal 2025 and is incorporated herein by reference.

Insider Trading Policy

We maintain, and periodically review,
an insider trading policy that governs the purchase, sale and/or disposition of our securities by our directors, officers, employees
and contractors who may have access to and/or possession of material non-public information. We have implemented processes that we believe
are reasonably designed to promote compliance by us and by the covered persons with insider trading laws, rules and regulations and applicable
listing standards. A copy of our Insider Trading Policy is filed as Exhibit 19.1 to this Annual Report.

ITEM
11. EXECUTIVE COMPENSATION

Information
about executive compensation is presented under the same captions in our definitive Proxy Statement for the Annual Meeting of
Shareowners held in the first quarter of fiscal 2025 and is incorporated herein by reference.

ITEM
12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

Information
about security ownership of certain beneficial owners and management and related stockholder matters is presented under the same
captions in our definitive Proxy Statement for the Annual Meeting of Shareowners held in the first quarter of fiscal 2025 and is
incorporated herein by reference.

ITEM
13. CERTAIN RELATIONSHIPS AND RELATED