UNIVERSAL ELECTRONICS INC (UEIC): Nasdaq/NYSE listing notice — Universal Electronics receives Nasdaq non-compliance notice over Audit Committee composition

UNIVERSAL ELECTRONICS INC

Nasdaq notified Universal Electronics on Nov 14, 2023 that it is not in compliance with Listing Rule 5605 due to Audit Committee composition after a director's resignation.
The company has a cure period under Nasdaq Listing Rule 5605(c)(4) to regain compliance.
Universal Electronics has commenced a search for a new independent director qualified to serve on the Audit Committee.
The notification has no immediate effect on the company's listing on the Nasdaq Global Select Market.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

UNIVERSAL ELECTRONICS INC received a nasdaq deficiency notice notice regarding audit committee (rules 5605, 5605(c)(4)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: audit committee
Rules: 5605, 5605(c)(4)

Exact text from the filing

November 14, 2023, Universal Electronics Inc. (the "Company") received a letter from the Listing Qualifications staff of The Nasdaq Stock Market ("Nasdaq") notifying the Company that, as a result of the resignation of a director, as previously disclosed, from the Company's Board of Directors and its Audit Committee, the Company is not in compliance with Nasdaq Listing Rule 5605, which requires that the Company's Audit Committee be comprised of at least three directors, all of whom are independent pursuant to the rules of Nasdaq and applicable law. The notification letter has no immediate effec

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Source: SEC EDGAR

accession 0000101984-23-000061

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