Company: PGACR
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-002878
Chunk: 42

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1
Chunk 42
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 such payments prior to an
initial business combination will be made using funds held outside the trust account. Other than quarterly audit committee review of such
reimbursements, we do not expect to have any additional controls in place governing our reimbursement payments to our directors and executive
officers for their out-of-pocket expenses incurred in connection with our activities on our behalf in connection with identifying and
consummating an initial business combination. Other than these payments and reimbursements, no compensation of any kind, including finder’s
and consulting fees, will be paid by the company to our sponsor, executive officers and directors, or their respective affiliates, prior
to completion of our initial business combination.

Policy
for Approval of Related Party Transactions

The
audit committee of our board of directors has adopted a charter, providing for the review, approval and/or ratification of “related
party transactions,” which are those transactions required to be disclosed pursuant to Item 404 of Regulation S-K as promulgated
by the SEC, by the audit committee. At its meetings, the audit committee shall be provided with the details of each new, existing, or
proposed related party transaction, including the terms of the transaction, any contractual restrictions that the company has already
committed to, the business purpose of the transaction, and the benefits of the transaction to the company and to the relevant related
party. Any member of the committee who has an interest in the related party transaction under review by the committee shall abstain from
voting on the approval of the related party transaction, but may, if so requested by the chairman of the committee, participate in some
or all of the committee’s discussions of the related party transaction. Upon completion of its review of the related party transaction,
the committee may determine to permit or to prohibit the related party transaction.

Management
will present to the audit committee each proposed related party transaction, including all relevant facts and circumstances relating
thereto. Under the policy, we may consummate related party transactions only if our audit committee approves or ratifies the transaction
in accordance with the guidelines set forth in the policy. The policy does not permit any director or executive officer to participate
in the discussion of, or decision concerning, a related person transaction in which he or she is the related party.

Director
Independence

Nasdaq requires that a majority
of our board must be composed of “independent directors.” Currently, Mr. Graj, Mr. Markscheid, and Mr. Wee
would each