MariaDB plc: Nasdaq/NYSE listing notice — MariaDB plc notifies NYSE of board independence deficiencies, risks delisting

MariaDB plc

On Oct 17 & 20, 2023, MariaDB notified NYSE that its board lacks a majority of independent directors and audit committee has only one independent member.
Four directors resigned; board now comprises CEO Paul O'Brien, Jurgen Ingels, Michael Fanfant, and Yakov Zubarev.
Audit Committee consists of only one independent director, Jurgen Ingels, violating NYSE Section 303A.07(a).
Company considering next steps to regain compliance; NYSE may delist if not remedied.

item 3.01

Key facts

Extracted from this filing and checked against the source text.

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

MariaDB plc received a nyse deficiency notice notice regarding board independence (rules 303A.01).

Exchange: nyse
Notice: deficiency notice
Deficiency: board independence
Rules: 303A.01

Exact text from the filing

October 20, 2023, the Company further notified the NYSE that it was deficient with respect to Section 303A.01 of the Manual as well. Previously, each of Alexander Suh, Christine Russell, Harold Berenson, and Theodore Wang tendered their respective resignations from the Company’s board of directors (the “Board”) and, to the extent applicable, all committees thereof. Following the resignations, the Board was fixed at four directors, with Michael Fanfant and Yakov Zubarev joining Chief Executive Officer Paul O’Brien and independent director Jurgen Ingels . As a result of those Board changes, the

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

MariaDB plc received a nyse deficiency notice notice regarding audit committee (rules 303A.07(a), 303A.01).

Exchange: nyse
Notice: deficiency notice
Deficiency: audit committee
Rules: 303A.07(a), 303A.01

Exact text from the filing

October 17, 2023, the Company notified the New York Stock Exchange (“NYSE”) that the Company is deficient in meeting the requirement under Section 303A.07(a) of the NYSE Listed Company Manual (the “Manual”), which requires NYSE audit committees to be comprised of at least three independent directors. On October 20, 2023, the Company further notified the NYSE that it was deficient with respect to Section 303A.01 of the Manual as well. Previously, each of Alexander Suh, Christine Russell, Harold Berenson, and Theodore Wang tendered their respective resignations from the Company’s board of direct

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Source: SEC EDGAR

accession 0001104659-23-110802

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