SKYX Loses Independent Director, Falls Out of Nasdaq Governance Compliance

summarizeSummary

SKYX disclosed that independent director Efrat L. Greenstein Brayer passed away on September 26, 2026, causing the company to fall out of compliance with Nasdaq's independent-director and audit-committee requirements. Nasdaq granted a cure period through the next annual meeting or September 26, 2027.

check_boxKey Events · Corporate Governance and Compliance · SKYX

• Independent Director Passes Away

  Efrat L. Greenstein Brayer, an independent board member and chair of the nominating and corporate governance committee, died on September 26, 2026.

• Nasdaq Governance Non-Compliance

  Her death leaves the board without a majority of independent directors and the audit committee with only two members, violating Nasdaq Listing Rules 5605(b)(1) and 5605(c)(2)(A).

• Cure Period Granted

  Nasdaq's September 30, 2026 letter gives SKYX until the earlier of its next annual meeting or September 26, 2027 to regain compliance — or March 25, 2027 if the annual meeting is held before that date.

• No Immediate Delisting

  The filing states the non-compliance has no immediate effect on SKYX's Nasdaq listing, subject to compliance with the listing rules.

auto_awesomeAnalysis · SKYX · Manufacturing

The death of independent director Efrat L. Greenstein Brayer on September 26, 2026 leaves SKYX's board without a majority of independent directors and its audit committee with only two members, triggering Nasdaq Listing Rule violations. Nasdaq has granted a cure period expiring the earlier of the next annual meeting or September 26, 2027 — or March 25, 2027 if the annual meeting is held before that date. The company says it intends to regain compliance, but there is no assurance it will do so within the cure period. While the listing is not immediately affected, this is a governance red flag that comes just weeks after SKYX announced a merger agreement with Deako, adding uncertainty to an already complex corporate picture.