SKYX Platforms Reports Director's Death, Nasdaq Governance Noncompliance

What Happened
SKYX Platforms Corp. (SKYX) filed an 8-K on October 1, 2026 reporting that independent director Efrat L. Greenstein Brayer passed away on September 26, 2026. Her death left the company out of compliance with Nasdaq Listing Rule 5605(b)(1) (majority independent board requirement) and Nasdaq Listing Rule 5605(c)(2)(A) (audit committee must have at least three members). The company notified Nasdaq on September 28, 2026 and received a Nasdaq letter on September 30, 2026 outlining an available cure period.

Key Details

• Director: Efrat L. Greenstein Brayer (independent director; served on audit and compensation committees; chair of nominating & corporate governance). Date of death: September 26, 2026.
• Nasdaq notice: Company notified Nasdaq on September 28, 2026; Nasdaq responded with cure period on September 30, 2026.
• Cure period timing: Per Nasdaq rules, SKYX has until the earlier of its next annual meeting or September 26, 2027 to regain compliance; if the next annual meeting is before March 25, 2027, the company must show compliance by March 25, 2027.
• Company stance: SKYX intends to take actions to regain compliance but acknowledged there is no assurance it will succeed within the cure period.

Why It Matters
Losing an independent director who chaired the nominating/governance committee and served on the audit committee created immediate governance rule deficiencies under Nasdaq standards. If SKYX fails to restore the required board composition and audit committee membership within the cure period, it could face further Nasdaq enforcement actions that might affect its listing. For investors, this is a governance and regulatory risk to monitor — the company currently remains listed while it works to remedy the shortfall.