Company: VLDXW
Filing Date: 2025-08-20
Form Type: 424B4
Source: 0001641172-25-024892
Chunk: 138

Company: Velo3D, Inc.
Filing Date: 2025-08-20
Form: 424B4
Chunk 138
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 result, we qualify as a “controlled company” and are entitled to avail
ourselves of certain “controlled company” exemptions under Nasdaq’s corporate governance rules. As a controlled
company, we are not required to have a majority of “independent directors” on our board of directors as defined under
Nasdaq rules, or have a compensation, nominating or governance committee composed entirely of independent directors. Despite
qualifying as a controlled company, however, we are not presently taking, and do not expect to take, advantage of any controlled company
accommodations, as we currently maintain a majority independent Board and have separately constituted compensation
and nominating and governance committees, with each committee consisting entirely of independent directors.

Corporate Governance Guidelines

Our Board has adopted Corporate Governance Guidelines that set forth expectations for directors, director independence standards, board committee structure and functions, and other policies for the governance of our company. Our Corporate Governance Guidelines are available on the “Investor Relations” section of our website, which is located at www.ir.velo3d.com, by clicking “Governance Documents” in the “Governance” section of our website. Our nominating and corporate governance committee reviews the Corporate Governance Guidelines annually, and changes are recommended to our Board as warranted.

Independence of Directors

The listing rules of Nasdaq require that a majority of the members of a listed company’s Board be independent. Under the rules of Nasdaq, a director will only qualify as an “independent director” if, in the opinion of that company’s Board, that person does not have a material relationship with the company, either directly or as an officer, partner or stockholder of the company, that would interfere with the exercise of independent judgment in carrying out the responsibilities of a director.

In addition, our audit committee members must also satisfy the independence criteria set forth in Rule 10A-3 under the Exchange Act. In order to be considered independent for purposes of Rule 10A-3, a member of an audit committee of a listed company may not, other than in his or her capacity as a member of the audit committee, the Board, or any other committee of the Board, accept, directly or indirectly, any consulting, advisory, or other compensatory fee from the listed company or any of its subsidiaries; or be an affiliated person of the listed company or any of its subsidiaries.

Based on the above, we believe that Stefan Krause, Adrian Keppler, and Jason Lloyd, representing three of our five directors, are “