Company: MGRC
Filing Date: 2025-04-22
Form Type: DEF 14A
Source: 0000950170-25-056711
Chunk: 23

Company: MCGRATH RENTCORP
Filing Date: 2025-04-22
Form: DEF 14A
Chunk 23
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 2024;

We have no shareholder rights plan in place;

Our Board committees regularly review and update, as necessary, the committee charters, which clearly establish the roles and responsibilities of each such committee, and such charters are posted on our website for review;

Our Board generally has an executive session among our non-employee and independent directors after every board meeting;

The majority of our Audit Committee members qualify as Audit Committee financial experts;

Our Board has unrestricted access to the Company’s management, employees, and professional advisers;

We have a code of business conduct and ethics that is reviewed regularly for best practices and is posted on our website for review;

We have a clear set of corporate governance guidelines that are reviewed regularly for best practices and posted on our website for review;

We are committed to corporate and social responsibility;

We have no supermajority voting provisions in our charter documents;

We have a compensation recoupment policy;

Our insider trading policy prohibits hedging, pledging or engaging in derivative actions relating to our stock by all employees, officers, and directors;

Our Board performs an annual self-assessment to evaluate its effectiveness in fulfilling its obligations;

We conduct an annual say-on-pay vote;

Board and Chief Executive Officer succession planning is a focus and continual Board discussion topic;

Our corporate governance documents do not contain a supermajority standard for the approval of a merger or a business combination, which transaction requires the affirmative vote of a majority of the outstanding shares;

We had no related party transactions as defined by the Securities and Exchange Commission in 2024; and

We have a stock ownership and holdback requirement to ensure that our executive officers remain aligned with the interests of the Company and our shareholders.

Director Independence

The Board of Directors has determined that the five (5) non-employee directors on the Board of Directors, consisting of Messrs. Anderson, Dawson, and Shuster and Mses. Box and Conjeevaram, are “independent,” as defined in the listing standards of the NASDAQ Stock Market and regulations of the SEC and that Elizabeth Fetter, who resigned from our Board of Directors effective August 1, 2024, was independent during her service on our Board. Mr. Hanna, as an executive officer of the Company, is not considered independent. In making these determinations, our Board of Directors considered transactions and relationships between each director and his or her immediate family and the Company and our subsidiaries, including those reported in the section below captioned “Certain Relationships and Related Transactions.” The purpose of this review was to determine whether