T Stamp Inc, a prepackaged software services company, has received a notice from The NASDAQ Stock Market LLC indicating non-compliance with NASDAQ’s continued listing rules. The notice, dated January 14, 2025, specifies the company’s failure to hold an annual stockholders’ meeting within twelve months of the fiscal year-end, a requirement under NASDAQ Listing Rule 5620(a).
The Atlanta-based company, which specializes in identity authentication technology, has been provided 45 days to submit a plan to regain compliance. If accepted by NASDAQ, T Stamp may be granted an extension until June 30, 2025, to meet the listing standards.
The company has announced its intention to hold the overdue 2024 Annual Stockholder Meeting on January 29, 2025. During the compliance process, T Stamp’s Class A Common Stock will continue trading on NASDAQ under the ticker symbol IDAI.
In a separate development, T Stamp announced the appointment of Lance Wilson as its new Chief Financial Officer effective January 17, 2025. Wilson, who has been with the company since 2021, replaces Alex Valdes following his resignation on January 2, 2025. Wilson’s experience includes roles at Cousins Properties (NYSE:CUZ) and The North Highland Company, and he holds a Master of Accountancy from The University of Alabama.
Per the Executive Employment Agreement effective January 1, 2025, Wilson will receive an annual base salary of $182,250, with eligibility for an annual equity bonus of at least 10% of his base salary. The agreement also provides for severance under certain conditions, including a change in control of the company.
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