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Nasdaq accepts OptimumBank Holdings compliance plan

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Nasdaq accepts OptimumBank Holdings compliance plan

Nasdaq Inc. accepted the compliance plan of Fort Lauderdale, Fla.-based OptimumBank Holdings Inc. regarding two common share issuances that Nasdaq said violated its rules.

The issuances violated a rule which states that shareholders must approve the issuance of any shares to directors at below market value. In its compliance plan, the bank proposed to treat the issuances as equity awards under its 2018 equity incentive plan.