other material
confidence high
sentiment negative
materiality 0.40
PubMatic board member Narendra Gupta dies; audit committee now non-compliant with Nasdaq rule
PubMatic, Inc.
- Director Narendra Gupta passed away on December 25, 2021; he served on Audit and Nominating committees.
- Due to his death, the Audit Committee has fewer than three independent members, violating Nasdaq Listing Rule 5605(c)(2)(A).
- Nasdaq granted a cure period ending at the earlier of the 2022 annual meeting or December 25, 2022.
- Company plans to appoint an additional independent director to the Audit Committee during the cure period.
- PubMatic received a letter from Nasdaq on December 29, 2021 confirming noncompliance and the cure terms.