Company: SERV
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0001140361-25-015733
Chunk: 13

Company: Serve Robotics Inc. /DE/
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 13
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 would interfere with the exercise of independent judgment in carrying out the responsibilities of a director. Audit committee members must also satisfy the additional independence criteria set forth in Rule 10A-3 under the Exchange Act, and the Nasdaq listing standards. Compensation committee members must also satisfy the additional independence criteria set forth in Rule 10C-1 under the Exchange Act and the Nasdaq listing standards. Our Board has undertaken a review of the independence of each of our directors and director nominees. Based on information provided by each director concerning his or her background, employment and affiliations, our Board has determined that each member of our Board other than Dr. Kashani and Mr. Parang qualifies as “independent” as defined under the applicable Nasdaq and SEC rules. In making these determinations, our Board considered the current and prior relationships that each non-employee director has with the Company and all other facts and circumstances our Board deemed relevant in determining their independence, including the beneficial ownership of our capital stock by each non-employee director. Dr. Kashani and Mr. Parang are not deemed independent due to their positions as our Chief Executive Officer and Chief Operating Officer, respectively. Board Meetings and Committees Our Board held seven meetings (including regularly scheduled and special meetings) in the fiscal year ended December 31, 2024. The audit committee met six times in the fiscal year ended December 31, 2024. The compensation committee met three times in the fiscal year ended December 31, 2024. The nominating and governance committee did not meet in the fiscal year ended December 31, 2024. Each incumbent director except Sarfraz Maredia attended at least 75% of the aggregate of (i) the total number of meetings of our Board held during the period for which he or she has been a director and (ii) the total number of meetings held by all committees of our Board on which he or she served during the periods that he or she served. Pursuant to our corporate governance guidelines, we encourage, but do not require, directors to attend our annual meeting of stockholders. Committees of the Board of Directors Our Board has established an audit committee, a compensation committee and a nominating and governance committee. The composition and responsibilities of each of the committees of our Board are described below. Members serve on these committees until their resignation or until otherwise determined by our Board. Our Board may establish other committees as it deems necessary or appropriate from time to time. Audit Committee The audit committee currently consists of Messrs.