AXT board declares LeBlanc independent, appoints him Audit Committee chair

AXT INC

Board re-evaluated Leonard J. LeBlanc's independence on Jan. 26, 2026, and found him independent under Nasdaq rules.
Jesse Chen stepped down as Audit Committee chair; LeBlanc appointed as Chair effective same date.
Audit Committee now consists of three independent members, satisfying Nasdaq Listing Rule 5605(c)(2)(A).
Board designated LeBlanc as audit committee financial expert; he will receive $20,000 annual retainer for chair role.
LeBlanc had been appointed as non-independent director on July 29, 2025, relying on Nasdaq exception.

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