Axt, Inc.
AXT, Inc. Re-Evaluates Director Independence; Audit Committee Changes
Summary
On January 26, 2026, AXT, Inc. announced that Mr. Leonard J. LeBlanc, previously appointed as a non-independent member of its Board, has been re-evaluated and determined to be independent under the Nasdaq Listing Rules. Consequently, Mr. LeBlanc has been appointed as Chair of the Audit Committee, succeeding Mr. Jesse Chen. Mr. LeBlanc is recognized as an 'audit committee financial expert' and will receive an annual cash retainer of $20,000 for his role. The Audit Committee will now consist of three independent members as required by Nasdaq Listing Rule 5605(c)(2)(A).
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About Axt, Inc.
Axt, Inc. is a leading producer of high-performance compound semiconductor substrates. These substrates, such as gallium arsenide (GaAs), enable the efficient functioning of a diverse range of electronic and optoelectronic devices. Axt, Inc. plays a crucial role in enhancing the performance of high-frequency, high-power, and optically sensitive applications. The primary use of these substrates is found in industries like telecommunications, light-emitting diodes (LEDs), and solar cells. With its production facilities located primarily in China, Axt, Inc. serves a global market, catering to technology companies that require high-quality semiconductor materials. Through its extensive research and development initiatives, the company continually innovates to meet the growing demand for substrate materials that support advanced technology products. As a significant provider in the semiconductor supply chain, Axt, Inc. contributes to the advancement of next-generation technologies, supporting sectors that are critical to modern electronics and renewable energy solutions.
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