XTI Aerospace director resignation triggers Nasdaq non-compliance; cure period granted

XTI Aerospace, Inc.

Leonard Oppenheim resigned from board effective March 31, 2024, for personal reasons.
Board now has four directors, not a majority independent; audit committee lacks three independent members.
Nasdaq issued notice of non-compliance on April 4, 2024; cure period until next annual meeting or March 31, 2025.
Company intends to appoint an additional independent director before the cure deadline.

item 3.01 item 5.02

Executive movements

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Departed

Leonard Oppenheim

Director

XTIA · XTI Aerospace, Inc.

Effective: 2024-03-31
Filed: April 4, 2024, 7:59 PM ET

Leonard Oppenheim resigned from the Board of Directors (the “Board”) of XTI Aerospace, Inc. (the “Company”), including all committees thereof and any other positions held with the Company or any of its subsidiaries, effective as of March 31, 2024.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Leonard Oppenheim resigned as Director at XTI Aerospace, Inc..

Action: resigned
Role: Director

Exact text from the filing

Leonard Oppenheim resigned from the Board of Directors (the “Board”) of XTI Aerospace, Inc. (the “Company”), including all committees thereof and any other positions held with the Company or any of its subsidiaries, effective as of March 31, 2024.

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XTI Aerospace, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-24-030471

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