AXTI 8-K
Axt Inc (AXTI)
8-K
2025-07-18
For: 2025-07-14
View Original
Added on
April 06, 2026
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 14, 2025
(Exact name of registrant as specified in its charter)
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(State or other jurisdiction of incorporation)
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(Commission File Number)
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(IRS Employer Identification No.)
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(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (510 ) 438-4700
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8‑K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
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Title of each class:
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Trading Symbol
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Name of each exchange on which registered:
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The
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Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
AXT, Inc. (the “Company”) is saddened to report that Ms. Christine Russell, a member of the Company’s Board of Directors (the "Board"), passed away on July 11, 2025. Ms. Russell joined the Company’s Board in December 2019 as an independent director. Ms. Russell served as Chair of the Audit Committee and was a member of the Compensation Committee and the Nominating and Corporate Governance Committee. The Company is grateful for Ms. Russell's dedication and service to the Company. The Company’s management and Board extend their sincerest condolences to Ms. Russell’s family.
OnJuly 14, 2025, the Company notified The Nasdaq Stock Market LLC (“Nasdaq”) that due to Ms. Russell's death, the Company’s Audit Committee has been reduced to two independent directors, and the Company is not compliant with Nasdaq Lising Rule 5605(c)(2)(A), which requires the Audit Committee to be comprised of a minimum of three independent directors. Pursuant to Nasdaq Listing Rule 5605(c)(4)(B), the Company has a cure period to regain compliance until the earlier of the Company’s next annual meeting of stockholders or July 11, 2026. The Company intends to regain compliance as soon as possible and the Board will begin a process to add a new independent director who satisfies the applicable requirements of the Nasdaq Listing Rules prior to the expiration of the cure period provided by Nasdaq.
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Item 9.01
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Financial Statements and Exhibits.
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(d) Exhibits.
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Exhibit
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Description
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104
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Cover Page Interactive Data File (formatted as inline XBRL)
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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.
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AXT, INC.
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By:
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/s/ Gary L. Fischer
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Date: July 18, 2025
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Gary L. Fischer
Chief Financial Officer and Corporate Secretary
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