Governance and Ethics

The Board of Directors of LSI follow best practices in governance. Examples of the Board’s commitment to exemplary governance include the following:

  • The Company has adopted limits on the number of public company boards on which Board members may serve to ensure they have sufficient time to devote to their duties to the Company.
  • LSI’s Compensation Committee, Audit, and Finance Committee, and Nominating and Corporate Governance Committee are each comprised of, and chaired entirely by, Independent Directors.
  • 86% of LSI’s Directors are independent according to the independence criteria of the NASDAQ Capital Market and US Securities and Exchange Commission.
  • Each Board committee is comprised entirely of independent Directors
  • Each member of the Board of Directors is elected annually
  • Each Director must be elected by a majority vote
  • Each Director is subject to stock ownership guidelines

A key component of our approach to ESG is our Code of Business Ethics and Conduct, Human Rights Policy and Safety Policy. These serve as a blueprint for making the right decisions in the best interests of the Company, our customers, communities and shareholders.

Among other items, our Code of Business Ethics and Conduct addresses conflicts of interest, corporate opportunities, confidentiality, fair dealing, protection and proper use of company assets, confidentiality, disclosure, compliance and accountability. As a requirement, all salaried employees of LSI must complete annual training and certification with respect to the company’s Code of Business Ethics and Conduct.

LSI also provides specific guidance to its financial managers regarding the performance of their duties, particularly with respect to:

  • Full and accurate financial disclosure of material information concerning the company’s compliance with applicable laws, rules and regulations
  • Maintaining the company’s financial records in accordance with applicable accounting policies and generally accepted accounting

Additional information regarding LSI’s corporate governance is available in the Investors section on the company’s website at www.lsicorp.com/lsi.

Proud Past, Bright Future

As a company with more than 40 years of heritage, LSI has a proven track record of operating responsibly and adapting to technological and regulatory changes. By doing so, the Company has been able to provide jobs to thousands of people over the years, give back to its communities and provided generous benefits to its employees. Today, the company continues to build upon that legacy with a focus on innovation and continuous improvement.

We believe the future is bright for LSI, and we are committed to contributing to a sustainable future for the company and the planet.