other
confidence high
sentiment neutral
materiality 0.30
Addentax Group Corp. adopts Clawback Policy for executive compensation recovery
ADDENTAX GROUP CORP.
- Board adopted Clawback Policy on October 25, 2023, effective immediately.
- Policy allows recovery of cash incentive payments and equity-based compensation from current and former executive officers.
- Recoupment triggered by accounting restatements due to material noncompliance with financial reporting requirements.
- Excess Incentive Compensation calculated as difference between amount paid on erroneous data vs restated results.
- Policy complies with Section 10D of the Exchange Act and applicable listing standards.