Vivakor, Inc. (VIVK): Nasdaq/NYSE listing notice — Vivakor director resignation triggers Nasdaq independence non-compliance; cure period to June 2024

Vivakor, Inc.

David Natan resigned from Board and all committee positions effective December 6, 2023.
Board now lacks a majority of independent directors; Audit Committee has only two independent members.
Nasdaq granted cure period until June 3, 2024 to regain compliance with Listing Rules 5605(b)(1) and 5605(c)(2)(A).
No immediate effect on listing of common stock on Nasdaq Capital Market.
Resignation was not due to any dispute with the Company or Board.

item 3.01 item 5.02

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Departed

David Natan

Director

VIVK · Vivakor, Inc.

Effective: 2023-12-06
Filed: December 12, 2023, 6:59 PM ET

The information regarding David Natan’s resignation contained in

Key facts

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Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.99

Vivakor, Inc. received a nasdaq deficiency notice notice regarding audit committee (rules 5605(b)(1), 5605(c)(2)(A), 5605(a)(2), 5605(b)(1)(A), 5605(c)(4)).

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

Exact text from the filing

December 12, 2023, the Company received notice (the “Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“ Nasdaq ”) notifying the Company that, based upon the resignation of David Natan from the Board, the Company is not currently in compliance with the board of directors independence requirements set forth in Nasdaq Listing Rule 5605(b)(1) and the requirement in Nasdaq Listing Rule 5605(c)(2)(A) to have an audit committee comprised of at least three independent directors. The Company informed Nasdaq of Mr. Natan’s resignation on December 7, 2023. As a result o

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Executive change SEC 8-K Item 5.02 confidence 0.95

David Natan resigned as Director at Vivakor, Inc..

Action: resigned
Role: Director

Exact text from the filing

The information regarding David Natan’s resignation contained in

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Source: SEC EDGAR

accession 0001829126-23-008003

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