Vislink Technologies, Inc. announced that On August 29, 2023, the Company received a notice (the ?Notice?) from the Listing Qualifications Department (the ?Staff?) of The Nasdaq Stock Market LLC (?Nasdaq?) notifying the Company that due to General James T. Conway not standing for reelection to the Board at the 2023 Annual Meeting of Stockholders of the Company held on August 23, 2023 (the ?Annual Meeting?), the Company was not in compliance with Nasdaq?s audit committee composition requirements, as set forth in Nasdaq Listing Rule 5605, which require that the Audit Committee be comprised of at least three ?independent directors? as defined in Nasdaq Listing Rule 5605(c)(2)(A). Following the Annual Meeting, the Audit Committee was comprised of two independent directors and one vacancy.

The Notice states that, consistent with Nasdaq Listing Rules 5605(c)(4), Nasdaq will provide the Company a cure period in order to regain compliance (i) until the earlier of the Company?s next annual meeting of stockholders or August 23, 2024, or (ii) if the next annual meeting of stockholders is held before February 20, 2024, then the Company must evidence compliance no later than February 20, 2024. On September 1, 2023, the Board appointed Brian Krolicki, an independent director, to serve as a member of its Audit Committee. The Board determined that Mr. Krolicki satisfied the additional independence and financial sophistication requirements applicable to members of the Audit Committee pursuant to the Sarbanes-Oxley Act of 2002, as amended, the Securities Exchange Act of 1934, as amended, the rules of the Securities and Exchange Commission (the ?SEC?), and Nasdaq?s corporate governance listing standards.

The Board has also designated Mr. Krolicki as an ?audit committee financial expert? as defined by Item 407 of Regulation S-K promulgated by the SEC. As a result of the foregoing, the Company expects Nasdaq to confirm that it has regained compliance with the Audit Committee composition requirements of Nasdaq Listing Rule 5605(c)(2)(A).

On September 1, 2023, the Board appointed Ralph Faison, an independent director, as the new Chairman of the Governance and Nominations Committee of the Board, succeeding General Conway in that position.