Company: HGBL
Filing Date: 2025-04-22
Form Type: DEF 14A
Source: 0000950170-25-056713
Chunk: 17

Company: Heritage Global Inc.
Filing Date: 2025-04-22
Form: DEF 14A
Chunk 17
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 Sinsley and Michael Hexner. Ms. Sinsley serves as chair of the Corporate Governance Committee.

The purpose of our Corporate Governance Committee is to assist in shaping the corporate governance of the Company, and to exercise general oversight with respect to nominations to, and the governance of, the Board and related federal securities laws matters. The primary responsibilities of the Corporate Governance Committee include:

taking a leadership role in shaping the Company’s corporate governance policies and practices;

reviewing the Corporation’s Code of Conduct;

recommending the slate of director nominees for election to the Board at the annual meeting of shareholders;

identifying and recommending candidates to fill vacancies occurring between annual shareholder meetings;

interacting with management and reporting to the Board regarding cybersecurity risk management; and

overseeing management’s development and succession planning.

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The Corporate Governance Committee met four times in 2024.

Risk Oversight

Together with the Board’s standing committees, the Board is responsible for ensuring that material risks are identified and managed appropriately. The various committees appointed by the Board have, within their oversight responsibilities, the obligation to assess for, and initiate mitigating actions to, specific areas of risk within their committee expertise. Each committee regularly reports to the Board.

As part of its responsibilities as set forth in its charter, the Audit Committee is responsible for overseeing the quality and integrity of the Company’s financial statements and other financial information, financial reporting process, internal controls, procedures for financial reporting and the internal audit function. In addition, the Audit Committee is in consultation with the Company's outside auditors to assure the Audit Committee has reasonably assessed financial reporting risks generally, as well as those unique to the Company, and to ensure a proper mitigation of potential risks so identified.

The Compensation Committee considers risk in connection with its design of compensation programs for Company executives. Considerations include a periodic review of the Company's compensation plans to assure that individual compensation is structured to incentivize against overall risk.

The Board and its committees regularly review material operational, cybersecurity and compliance risks with senior management, and strive to provide an open avenue of communication among the Company’s independent auditor and management as a means to anticipate, identify and address any potential risk.

Responsibility for cybersecurity risk management is shared by management, the Board, and its Corporate Governance Committee. To more effectively prevent, detect and respond to information security threats, the Company has established a Management Cybersecurity Committee (MCC) consisting of the Chief Financial Officer, the Executive Vice President, General Counsel and Secretary, the Chief Marketing Officer, business unit