Company: VGASW
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0001628280-25-020032
Chunk: 21

Company: Verde Clean Fuels, Inc.
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 21
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, LLC, a Delaware limited liability company (“

#### Holdings
”), beneficially owns a majority of the voting power of all outstanding shares of our common stock. As a result, we are a “controlled company” within the meaning of the Nasdaq Listing Rules. Under the Nasdaq Listing Rules, a company of which more than 50% of the voting power for the election of directors is held by an individual, group or another company is a “controlled company” and may elect not to comply with certain corporate governance standards, including the requirements (1) that a majority of its board of directors consist of independent directors, (2) that its board of directors have a compensation committee that is composed entirely of independent directors with a written charter addressing the committee’s purpose and responsibilities, and (3) that director nominees must either be selected, or recommended for the board’s selection, either by independent directors constituting a majority of the board’s independent directors in a vote in which only independent directors participate, or a nominating and corporate governance committee comprised solely of independent directors with a written charter addressing the committee’s purpose and responsibilities.

The Nasdaq Listing Rules generally require that independent directors must comprise a majority of a listed company’s board of directors. Under the Nasdaq Listing Rules, a director will only qualify as an “independent director” if, in the opinion of that company’s board of directors, that person does not have a relationship that would interfere with the exercise of independent judgment in carrying out the responsibilities of a director. Based upon information requested from and provided by each director concerning his or her background, employment, affiliations, related party transactions, and any family relationships, our Board has determined that Messrs. van’t Hoff, Palmer, Hébert, Hulme, Dekker and Ms. St. Claire are “independent” as that term is defined under the applicable rules and regulations of the SEC and the Nasdaq Listing Rules. These independent directors comprise a majority of the members of our Board and, accordingly, the Company is not availing itself of the “controlled company” exemption from the requirement that independent directors comprise a majority of the Board.

Our Compensation Committee (as defined below) is comprised of three directors, two of whom qualify as independent under the applicable Nasdaq Listing Rules and SEC rules for compensation committee service. The third member, Mr. Siegler, is not an independent director as determined by the Board due to his relationship with the Shaw Group, as further described under “ Certain Relationships and Related Party Transactions – Relationship with