Flyexclusive, Inc. (FLYX) has disclosed a new risk, in the Share Price & Shareholder Rights category.
Flyexclusive, Inc., as a “controlled company” under the NYSE American listing standards, is predominantly governed by its Existing Equityholders who possess the majority of voting power due to their Class B Common Stock holdings. This control allows the company to opt out of certain corporate governance requirements, such as the obligation to maintain a board primarily composed of independent directors or to establish wholly independent director committees for compensation and nominating/corporate governance. Consequently, shareholders of Flyexclusive, Inc. may face diminished corporate governance protections compared to investors in firms fully adhering to the NYSE American’s governance stipulations.
Overall, Wall Street has a Hold consensus rating on FLYX stock based on 1 Hold.
To learn more about Flyexclusive, Inc.’s risk factors, click here.
