Art’s-Way Manufacturing Co., Inc. is dedicated to maintaining the highest standards of ethical conduct and responsible corporate governance. We are proud of the integrity of our employees, managers, officers and the Board of Directors. Since our inception, we have taken extra measures to ensure the full disclosure of our activities, policies and accounting practices. Our Board of Directors is diverse and independent, and their high performance standards have been instrumental in guiding our development and business practices.
By August 7, 2023, Nasdaq’s new board diversity rules will require that our Board have at least one diverse director that self-identifies as female, LGBTQ+, and/or an underrepresented minority, and by August 7, 2026, two diverse directors (including at least one that self-identifies as female and another who self-identifies as female, LGBTQ+, and/or an underrepresented minority). If we do not meet these criteria, we will be required to disclose the reasons for non-compliance. We intend to meet the requirements by the specified deadlines, provided that no assurances can be made that we will be able to attract and retain one or more directors meeting such requirements. Please note that the specific requirements and deadlines for the Nasdaq diversity rules vary depending on whether we continue to qualify as a smaller reporting company and the specific filing dates of the applicable proxy statement for our annual meetings, and as such, the preceding summary of the rules is subject to change from time to time.