ARTESIAN RESOURCES CORP (ARTNA): Nasdaq/NYSE listing notice — Artesian Resources receives Nasdaq notice for board independence non-compliance

ARTESIAN RESOURCES CORP

Nasdaq notified company on May 30, 2025 of non-compliance with Majority Independent Board and Audit Committee Composition rules.
Non-compliance triggered by director resignation effective May 6, 2025.
Cure period ends earlier of next annual meeting or May 6, 2026 (or Nov 3, 2025 if annual meeting before that date).
Governance committee is searching for a qualified independent director to fill vacancy on Board and Audit Committee.
No assurance that compliance will be regained within the cure period.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.98

ARTESIAN RESOURCES CORP received a nasdaq deficiency notice notice regarding other (rules 5605(b)(1), 5605(c)(2), 5605(a)(2), 5605(c)(4)).

Exchange: nasdaq
Notice: deficiency notice
Rules: 5605(b)(1), 5605(c)(2), 5605(a)(2), 5605(c)(4)

Exact text from the filing

May 30, 2025, Artesian Resources Corporation (the “Company”) received a written notice (the “Notice”) from the Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company is no longer in compliance with Nasdaq Marketplace Rule 5605(b)(1), which requires that a majority of the Company’s Board of Directors (the “Board”) be “independent directors” as defined in Nasdaq Marketplace Rule 5605(a)(2) (the “Majority Independent Board Requirement”) and Nasdaq Marketplace Rule 5605(c)(2), which requires the Company to have an audit committee composed of at least three “independent directors” as defi

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Source: SEC EDGAR

accession 0000863110-25-000037

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