SUI Group Holdings Ltd. (SUIG): Nasdaq/NYSE listing notice — Nasdaq notifies Mill City Ventures of independence rule breach after director Zipkin's death

SUI Group Holdings Ltd.

Independent director Laurence S. Zipkin passed away on July 9, 2025.
Company no longer meets Nasdaq Rule 5605(b)(1) (majority independent board) and Rule 5605(c)(2) (three independent audit committee members).
Cure deadline is the earlier of next annual meeting or January 5, 2026 (if meeting before then) or July 9, 2026.
Board plans to appoint a new independent director to fill the vacancy and restore compliance.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.95

SUI Group Holdings Ltd. received a nasdaq noncompliance notice notice regarding audit committee (rules 5605(b)(1), 5605(c)(2), 5605(b)(1)(A), 5605(c)(4)).

Exchange: nasdaq
Notice: noncompliance notice
Deficiency: audit committee
Rules: 5605(b)(1), 5605(c)(2), 5605(b)(1)(A), 5605(c)(4)

Exact text from the filing

July 18, 2025, the Company received a letter from Nasdaq indicating that, due to Mr. Zipkin’s death, the Company no longer complies with Nasdaq Listing Rule 5605(b)(1), which requires that a majority of the Board of Directors of the Company consist of “independent directors” as defined by Nasdaq Listing Rule 5605(a)(2), and Nasdaq Listing Rule 5605(c)(2), which requires that the Audit Committee consist of at least three “independent directors.” In accordance with Nasdaq Listing Rules 5605(b)(1)(A) and 5605(c)(4), the Company must cure these deficiencies and evidence compliance prior to (a) its

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Source: SEC EDGAR

accession 0001654954-25-008301

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