NASDAQ Says Sirius XM Not In Compliance With Director Rules
July 16, 2009 at 4:40 PM (PT)
SIRIUS XM RADIO has been informed by NASDAQ that the resignation of JEFFREY D. ZIENTS last month to join the U.S. Office of Management and Budget has put the company in noncompliance with the exchange's requirements for independent directors as set forth in Listing Rule 5605.
The company said in a press release that it will be in compliance before its next stockholders' meeting or JUNE 22nd, 2010, whichever comes first. The company has 14 directors, seven of whom are "independent directors."