Allbirds Inc. has announced a regulatory issue following the resignation of board member Ann Freeman, who is set to become the President of Foot Locker, North America. Her departure, effective September 8, 2025, leaves Allbirds non-compliant with Nasdaq Listing Rule 5605(b)(1), which mandates that a majority of the board consist of independent directors. The company has informed Nasdaq of the situation and is now within a cure period, allowing it to regain compliance by either its next annual meeting or within one year from the date of non-compliance. This issue arises from Freeman's move and is not due to any disagreement with Allbirds' operations or policies.
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