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Does NASDAQ have requirements for listed companies regarding the composition of the Board of Directors?

April 26, 2017companies composition Directors NASDAQ requirements

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Does NASDAQ have requirements for listed companies regarding the composition of the Board of Directors?

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Listing Rule 5605(b)(1) requires most NASDAQ-listed companies to have a majority of independent directors on the Board of Directors. A listed company is required to disclose in its proxy statement (or Form 10-K or 20-F, if appropriate) those directors that the board has determined to be independent. Please see IM-5605 Definition of Independence – Rule 5605(a)(2) and IM-5605-1 Majority Independent Board.