Company: SIMA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026255
Chunk: 524

Company: SIM Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 4
Chunk 524
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 Relationships

No family relationships
exist between any of our directors or executive officers.

Involvement in Certain Legal Proceedings

There are no material proceedings
to which any director or executive officer, or any associate of any such director or officer is a party adverse to our Company, or has
a material interest adverse to our Company.

Number and Terms of Office of Officers and
Directors

Our Board of Directors consists
of five members and is divided into three classes with only one class of directors being appointed in each year, and with each class (except
for those directors appointed prior to our first annual general meeting) serving a three-year term. Prior to the closing of our initial
Business Combination, only holders of our Class B Ordinary Shares are entitled to vote on the appointment and removal of directors or
continuing the company in a jurisdiction outside the Cayman Islands (including any special resolution required to amend our Amended and
Restated Memorandum or to adopt new constitutional documents, in each case, as a result of our approving a transfer by way of continuation
in a jurisdiction outside the Cayman Islands). Holders of our Public Shares are not entitled to vote on such matters during such time.
These provisions of our Amended and Restated Memorandum relating to these rights of holders of Class B Ordinary Shares may be amended
by a special resolution passed by the affirmative vote of at least 90% (or, where such amendment is proposed in respect of the consummation
of our initial Business Combination, two-thirds) of the votes cast by such shareholders as, being entitled to do so, vote in person or,
where proxies are allowed, by proxy at the applicable general meeting of our Company.

27

In accordance with Nasdaq
corporate governance requirements, we are not required to hold an annual general meeting until one year after our first fiscal year end
following our listing on Nasdaq. The term of office of the first class of directors, which consists of Mr. Capone, will expire at our
first annual general meeting. The term of office of the second class of directors, which consists of Ms. Grasso and Dr. Cosgrove, will
expire at the second annual general meeting. The term of office of the third class of directors, which consists of Mr. Spangenberg and
Mr. Kutcher, will expire at the third annual general meeting.

Our officers are appointed
by the Board of Directors and serve at the discretion of the Board of Directors, rather than for specific terms of office.