Company: XTIA
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032213
Chunk: 634

Company: XTI Aerospace, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 8
Chunk 634
---
 and
Mr. Irfan qualify as an “audit committee financial expert” as defined in the rules of the SEC. The Audit Committee met three (3) times during 2024. All members attended more than 75% of such committee meetings. The role of the Audit Committee is to:

    ●
    oversee
    management’s preparation of our financial statements and management’s conduct of the accounting and financial reporting
    processes;

    ●
    oversee
    management’s maintenance of internal controls and procedures for financial reporting;

    ●
    oversee
    our compliance with applicable legal and regulatory requirements, including without limitation, those requirements relating to financial
    controls and reporting;

    ●
    oversee
    the independent auditor’s qualifications and independence;

    ●
    oversee
    the performance of the independent auditors, including the annual independent audit of our financial statements;

    ●
    prepare
    the report required by the rules of the SEC to be included in our Proxy Statement; and

    ●
    discharge
    such duties and responsibilities as may be required of the Committee by the provisions of applicable law, rule or regulation.

56

The
Audit Committee is authorized to establish procedures to receive, address, monitor, and retain complaints arising out of accounting and
auditing matters. As it deems appropriate, the Audit Committee is authorized to engage outside auditors, counsel, or other experts. A
copy of the charter of the Audit Committee is available on our website at http://www.xtiaerospace.com (under “Investors/Governance/Governance
Documents”).

Compensation
Committee

The Compensation
Committee consists of David Brody, Tensie Axton and Kareem Irfan, each of whom is “independent” as defined in section
5605(a)(2) of the Nasdaq Listing Rules. Mr. Brody is the Chairman of the Compensation Committee. The Compensation Committee met
three (3) times during 2024. All members attended 75% or more of such committee meetings. The role of the Compensation Committee is
to:

    ●
    develop
    and recommend to the independent directors of the Board the annual compensation (base salary, bonus, stock options and other benefits)
    for our directors and officers;

    ●
    review,
    approve and recommend to the independent directors of the Board the annual compensation (base salary, bonus and other benefits) for
    all of our Executive Officers (as used in