Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

How does NASDAQ define a “Controlled Company”?

April 26, 2017controlled company define NASDAQ

0

Posted

How does NASDAQ define a “Controlled Company”?

1 Answer

0

Posted

Under Listing Rule 5615(c)(1), a “Controlled Company” is one in which an individual, group or another company holds more than 50% of the voting power for the election of directors. Such companies are exempt from the provisions of Listing Rule 5605(b), (d), and (e) with the exception of subsection (b)(2), which pertains to executive sessions of independent directors. Please also see IM-5615-5 Controlled Company Exemption.