FARADAY FUTURE INTELLIGENT ELECTRIC INC. (FFAI): Nasdaq/NYSE listing notice — Faraday Future regains Nasdaq compliance after board changes following director resignation

FARADAY FUTURE INTELLIGENT ELECTRIC INC.

Director Ke Sun resigned effective Oct 10, 2023, causing board to lose majority independent directors.
Company notified Nasdaq of non-compliance with Rule 5605(b)(1) on Oct 11, 2023.
Board determined Li Han as independent and reduced board size from 7 to 6 on Oct 16, 2023.
Company regained compliance within the standard grace period; matter is resolved.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.95

FARADAY FUTURE INTELLIGENT ELECTRIC INC. received a nasdaq noncompliance notice notice regarding board independence (rules 5605(b)(1), 5605).

Exchange: nasdaq
Notice: noncompliance notice
Deficiency: board independence
Rules: 5605(b)(1), 5605

Exact text from the filing

October 11, 2023, the Company notified The Nasdaq Stock Market LLC (“Nasdaq”) that the Company was no longer in compliance with Nasdaq’s independent requirements as set forth in Listing Rule 5605 as the Board was not comprised of a majority of independent directors as required by Nasdaq Listing Rule 5605(b)(1). On October 16, 2023, the Board determined that in addition to Mr. Chad Chen, Mr. Jie Cheng, and Mr. Lev Peker, each of whom is an independent director, Ms. Li Han is independent as defined by Nasdaq Listing Rule 5605. In addition, the Board voted to reduce the size of the Board from se

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FARADAY FUTURE INTELLIGENT ELECTRIC INC. filing history →

Source: SEC EDGAR

accession 0001013762-23-004490

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