How many directors are required to serve on a compensation committee?
NASDAQ rules do not specify how many directors must serve on a compensation committee. However, for a company to be eligible to appoint a non-independent director under the “exceptional and limited circumstance” provision of Listing Rule 5605(d)(3), the compensation committee must consist of at least three directors.
Related Questions
- A companys board of directors consists of a majority of independent directors. May the whole board serve as a compensation committee?
- A companys board of directors consists of a majority of independent directors. Can the whole board serve as a nominating committee?
- How many directors are required to serve on a nominating committee?
