Company: DSNY
Filing Date: 2025-03-11
Form Type: DEF 14A
Source: 0001062993-25-005056
Chunk: 16

Company: DESTINY MEDIA TECHNOLOGIES INC
Filing Date: 2025-03-11
Form: DEF 14A
Chunk 16
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 and Canadian NI 52-110. Hyonmyong Cho, S. Jay Graber, and David Summers are also independent for purposes of Item 407(a) of Regulation S-K. The independent standards used in making such determination is that of the NYSE American LLC ("NYSE American"). Frederick Vandenberg is not independent because of his position as the Company's President, Chief Executive Officer, Chief Financial Officer and Corporate Secretary.

Meetings and Committees of the Board of Directors

During the fiscal year ended August 31, 2024, the Company's Board of Directors held two formal and four informal meetings of the board. All directors are expected to attend meetings and their attendance is recorded in the minutes. All members attended all meetings.

The Company has an Audit committee, a Compensation Committee, and a Nomination Committee, each of which is discussed in greater detail below. During the fiscal year ended August 31, 2024, the Audit Committee held four meetings, the Compensation Committee held two meetings, and the Nominating Committee held one meeting. All members attended all meetings.One member of the Board of Directors attended the Company's 2024 annual meeting of stockholders.

Audit Committee

The Company's Audit Committee consists of David Summers, Hyonmyong Cho and S. Jay Graber. All are independent as per the independence standards of Canadian National Instrument 52-110 - Audit Committees. All are also independent under the independence standards of the NYSE American applicable to audit committee members. Management has determined that the Audit Committee members are collectively capable of analyzing and evaluating the financial statements and understanding internal controls and procedures for financial reporting.

The Audit Committee is responsible for, among other things:

•the review of the significant accounting principles, policies and practices followed by the Company in accounting for and reporting its financial results of operations in accordance with generally accepted accounting principles ("GAAP");

•the review of the financial and risk management policies followed by the Company in operating its business activities;

•the review of the Company's annual audited financial statements, related disclosures, including the MD&A portion of the Company's filings, and discussions with the independent accountants the matters required to be discussed by the auditing standards of the U.S. Public Company Accounting Oversight Board ("PCAOB"), including (a) the quality as well as acceptability of the accounting principles applied in the financial statements, and (b) new or changed accounting policies; significant estimates, judgments, uncertainties or unusual transactions; and accounting policies relating to significant financial statement items;

•the review of any