Company: MLSS
Filing Date: 2025-11-12
Form Type: DEF 14A
Source: 0001493152-25-021913
Chunk: 13

Company: MILESTONE SCIENTIFIC INC.
Filing Date: 2025-11-12
Form: DEF 14A
Chunk 13
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 Board currently consists of six (6) authorized members. During the year ended December 31, 2024, our Board met six (6) times. All of our Board members attended at least 75% of the aggregate of all Board meetings and all meetings of the Board committees upon which they served while they were on the Board during fiscal 2024. Our Board does not have a policy regarding Board members’ attendance at meetings of our stockholders and five members of our Board attended our prior year’s annual meeting of stockholders. The Board also acted by unanimous consent six (6) times during fiscal 2024.

Generally, under the listing requirements and rules of the NYSE American, independent directors must comprise a majority of a listed company’s board of directors. Our Board regularly undertakes a review of its composition, the composition of its committees and the independence of each director. Our Board has determined that, none of our current directors or director nominees, other than Mr. Hines and Dr. Demesmin have a relationship that would interfere with the exercise of independent judgment in carrying out the responsibilities of a director and that each is “independent” as that term is defined under the applicable rules and regulations of the SEC and the listing requirements and rules of the NYSE American. In making this determination, our Board considered the current and prior relationships that each nonemployee director nominee has with our 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 nonemployee director nominee. Accordingly, the majority of our directors are independent as of the date of this Proxy Statement.

Committees of the Board

The Board has standing audit, compensation, and nominating and corporate governance committees (respectively, the “Audit Committee,” the “Compensation Committee,” and the “Nominating Committee.”)

Compensation Committee

The Compensation Committee reviews and recommends to the Board the compensation and benefits of all officers of the Company, reviews general policy matters relating to compensation and benefits of employees of the Company and administers the issuance of stock options to the Company’s officers, employees, directors, and consultants. It also provides recommendations to the Board with respect to non-employee director compensation. The Compensation Committee may not delegate its authority to any other person, other than to a subcommittee. Chairman

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Audit Committee

The Audit Committee meets with management and the Company’s independent accountants to determine the adequacy of internal controls and other financial reporting matters. The Audit