UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Emerging growth company
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Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On November 25, 2019, Viasat, Inc. (the “Company”) notified The Nasdaq Stock Market LLC (“Nasdaq”) that, due to the death of a member of the Audit Committee of the Board of the Directors of the Company (the “Board”), the Company was no longer in compliance with Nasdaq Listing 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 is entitled to a cure period to regain compliance with Nasdaq Listing Rule 5605(c)(2)(A), which cure period will expire upon the earlier of the Company’s next annual meeting of stockholders or November 25, 2020. The Company intends to appoint an additional independent director to the Audit Committee of the Board prior to the end of the cure period.
On November 27, 2019, Nasdaq issued a letter to the Company confirming the Company’s non-compliance with the Audit Committee composition requirements in Nasdaq Listing Rule 5605(c)(2)(A) and the cure period by which the Company must regain compliance.
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.
VIASAT, INC. | ||||||
Date: November 27, 2019 |
By: |
/s/ Paul Castor | ||||
Name: |
Paul Castor | |||||
Title: |
Vice President, Chief Corporate Counsel |