Allbirds director resigns, creating Nasdaq compliance issue

Allbirds Inc. (NASDAQ: BIRD) announced that Ann Freeman resigned from its board of directors effective September 8, 2025, to assume the position of President of Foot Locker, North America following Foot Locker Inc.'s merger with DICK'S Sporting Goods Inc.

Freeman notified the board of her resignation intention on September 2, 2025. The company stated her departure was not due to any disagreement regarding operations, policies, or practices.

Freeman's resignation resulted in Allbirds falling out of compliance with Nasdaq Listing Rule 5605(b)(1), which requires that a majority of the board consist of independent directors. The company notified the Nasdaq Global Select Market of this non-compliance on September 8, 2025.

Under Nasdaq Listing Rule 5605(b)(1)(A), Allbirds has a cure period to regain compliance before the earlier of one year from September 8, 2025, or its next annual meeting.

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