Company: XTIA
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032213
Chunk: 419

Company: XTI Aerospace, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 2
Chunk 419
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anning.

Board
Leadership Structure

Our
Board does not have a policy regarding the separation of the roles of Chief Executive Officer and Chairman of the Board, as our Board
believes it is in the best interest of the Company to make that determination based on the position and direction of the Company and
the membership of the Board.

Our
Board has determined that having an employee director serve as Chairman is in the best interest of our stockholders at this time because
of the efficiencies achieved in having the role of Chief Executive Officer and Chairman combined, and because the detailed knowledge
of our day-to-day operations and business that the Chief Executive Officer possesses greatly enhances the decision-making processes
of our board of directors as a whole.

The
Chairman of the Board and the other members of the Board work in concert to provide oversight of our management and affairs. Our Board
encourages communication among its members and between management and the Board to facilitate productive working relationships. Working
with the other members of the Board, our Chairman also strives to ensure that there is an appropriate balance and focus among key board
responsibilities such as strategic development, review of operations and risk oversight.

Delinquent Section
16(a) Reports

Section
16(a) of the Exchange Act requires our directors, executive officers and persons who own more than 10% of a registered class of our equity
securities to file with the SEC initial reports of ownership and reports of changes in ownership of common stock and other equity securities
of ours. Directors, executive officers and greater than 10% holders are required by SEC regulation to furnish us with copies of all Section
16(a) reports they file. Based solely on our review of Forms 3 and 4 filed during 2024 (and any written representations to us by such
persons), we believe that all directors, executive officers and 10% stockholders complied with all applicable Section 16(a) filing requirements
during 2024, with the exception of one Form 4 filed late by Nadir Ali on March 14, 2024 reporting one transaction dated December 19,
2023.

59

ITEM
11: EXECUTIVE COMPENSATION

Executive
Compensation

The
table below sets forth, for the last two fiscal years, the compensation earned by (i) each individual who served as our principal executive
officer during the last fiscal year, (ii) our two other most highly compensated executive officers, other than our principal executive
officer, who were