ProCap director Miller resigns; board loses audit-committee independence, risks delisting

ProCap Financial, Inc.

William H. Miller IV resigned as director and from all committees effective Jan 20, 2026; no dispute with company.
Board now has 2 independent, 2 non-independent directors, and 1 vacant seat for an independent director.
Company notified Nasdaq it no longer meets audit committee independence (Rule 5605(c)(2)(A)) or majority independent board (Rule 5605(b)).
Company intends to rely on Nasdaq cure periods to regain compliance; actively searching for an independent director.
Resignation not related to any disagreement with company's operations, policies, or practices.

item 5.02

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filed_at: 2026-01-23T23:59:59+00:00
discovered_at: 2026-05-14T18:02:37.169904+00:00
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accession 0001493152-26-003410

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