Polar Power, Inc. (POLA): Nasdaq/NYSE listing notice — Polar Power receives Nasdaq notice for non-compliance with independent director rule

Polar Power, Inc.

Nasdaq notified Polar Power on Jan 5, 2024 of non-compliance with Listing Rule 5605 due to director Peter Gross's resignation.
Cure period until earlier of next annual shareholders' meeting or Dec 18, 2024; if meeting before June 17, 2024 then by June 17, 2024.
Company plans to appoint an additional independent director before cure period ends to regain compliance.

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 0.95

Polar Power, Inc. received a nasdaq deficiency notice notice regarding board independence (rules 5605, 5605(c)(4)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: board independence
Rules: 5605, 5605(c)(4)

Exact text from the filing

January 5, 2024, the Company received a notification letter from The Nasdaq Stock Market LLC (“Nasdaq”) that due to Mr. Gross’ resignation, the Company is no longer in compliance with Nasdaq Listing Rule 5605. Pursuant to Nasdaq Listing Rule 5605(c)(4), the Company is entitled to a cure period to regain compliance (i) until the earlier of the Company’s next annual shareholders’ meeting or December 18, 2024; or (ii) if the next annual shareholders’ meeting is held before June 17, 2024, then the Company must evidence compliance no later than June 17, 2024. The Company intends to appoint an addit

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Source: SEC EDGAR

accession 0001493152-24-001711

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