Company: BRID
Filing Date: 2025-02-27
Form Type: DEF 14A
Source: 0001493152-25-008406
Chunk: 18

Company: BRIDGFORD FOODS CORP
Filing Date: 2025-02-27
Form: DEF 14A
Chunk 18
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 as such term is used in the rules and regulations of the SEC.

The Audit Committee selects the firm of independent registered public accountants to be retained by the Company, subject to shareholder ratification, pre-approves services rendered by its independent registered public accountants and pre-approves all related-party transactions. The Audit Committee will periodically meet with the Company’s independent registered public accountants to review, among other things, the Company’s accounting policies and the adequacy and effectiveness of its disclosure controls and internal controls. It also reviews the scope and adequacy of the independent registered public accountants’ examination of the Company’s annual financial statements.

The Audit Committee heldsix meetings during fiscal year 2024. On average, each member of the Audit Committee receives $350 to $550 per meeting depending on the length of the meeting attended. In addition, the Audit Committee holds a meeting on a quarterly basis with the Company’s independent registered public accountants and management to review and discuss the interim financial reports before the interim results are released to the public. The Audit Committee operates under an Amended and Restated Audit Committee Charter, which was approved on October 11, 2021. The charter is available on the Company’s website at www.bridgford.comunder “Governance.”

Nominating Committee

The Board of Directors has decided that the full Board should perform the functions of a Nominating Committee for the Company. It made that decision because the Board believes that selecting new Board nominees is one of the most important responsibilities the Board members have to the Company’s shareholders, and for that reason, all of the members of the Board should have the right and responsibility to participate in the selection process. Because of its status as a “controlled company” within the meaning of Rule 5615(c)(1) of the NASDAQ Listing Rules, the Company is not required to have a Nominating Committee comprised solely of independent directors. The Nominating Committee does not act pursuant to a written charter and held one meeting during fiscal year 2024.

In its role as Nominating Committee, the full Board identifies and screens new candidates for Board membership. Nevertheless, actions of the Board, in its role as Nominating Committee, can be taken only with the affirmative vote of a majority of the independent directors on the Board, as defined by the NASDAQ Listing Rules.

Director Nomination Process

In identifying new Board candidates, the Board will seek recommendations from existing Board members and executive officers. In addition, the Board will consider any candidates that may