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Board Diversity Rule
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Frequently Asked Questions
  Are companies transferring from another exchange required to comply with Nasdaq's Board Diversity Rule?
Identification Number 1774

Yes, but those companies are granted a two year phase-in period.  If the newly listed company was not previously subject to a substantially similar requirement of another national securities exchange, the newly listed company must meet, or explain why it does not meet, the applicable diversity objectives by the later of two years from the date of listing or the date the company files its proxy statement or its information statement (or, if the company does not file a proxy, in its Form 10-K or 20-F) for the company’s second annual meeting of shareholders subsequent to the company’s listing, with differing milestones depending on the company’s market tier.  Companies listing before the expiration of the initial four or five year period set forth in Rule 5605(f)(7) have the remainder of the applicable initial four or five year period or two years from the date of listing, whichever is longer, to satisfy the requirement.  

More information on the application of the Board Diversity Rule to new companies listing on Nasdaq is detailed here

Publication Date*: 10/1/2021 Mailto Link Identification Number: 1774
material_search_footer*The Publication Date reflects the date of first inclusion in the Reference Library, which was launched on July 31, 2012, or a subsequent update to the material. Material may have been previously available on a different Nasdaq web site.
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