iCoreConnect Inc. filed SEC Form 8-K: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing, Leadership Update
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Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On March 6, 2025, iCoreConnect Inc. (the “Company”) notified the Nasdaq Stock Market LLC (“Nasdaq”) that the Company will not be in compliance with the majority independent director requirement under Nasdaq Listing Rule 5605(b)(1) and the audit committee requirement under Nasdaq Listing Rule 5605(c)(2)(A) as of March 5, 2025, solely due to a vacancy on the Company’s Board of Directors (the “Board”) and audit committee (the “Audit Committee”) of the Board resulting from Yvonne Hyland’s resignation from the Board as disclosed in Item 5.02 of this Current Report on Form 8-K.
In accordance with Nasdaq Listing Rule 5605(b)(1)(A) and 5605(c)(4), the Company has a “cure period” of until the earlier of the Company’s next annual shareholders’ meeting or March 5, 2026, or if the next annual shareholders’ meeting is held before September 1, 2025, then the Company must evidence compliance no later than September 1, 2025. The Company intends to elect one or more independent directors to serve as a member of the Board and the Audit Committee during this cure period.
Item 5.02. Departure of Directors or Certain Principal Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On March 5, 2025, Yvonne Hyland, a member of the board of directors (the “Board”) of the Company resigned from her position as member of the Board and all committees of the Board, effective March 5, 2025. Ms. Hyland’s resignation was not due to any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| iCoreConnect Inc. (Registrant) |
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Dated: March 7, 2025 | By: | /s/ Robert McDermott |
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| Name: | Robert McDermott |
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| Title: | President and Chief Executive Officer |
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