AXT shares up 11.48% intraday after appointing independent director to audit committee chair, aligning with Nasdaq rules and improving governance.

think> Okay, so I need to transform the given text into a concise news headline following the specified rules. Let's start by breaking down the input. The company name is AXT. The percentage change is 11.48429585%, which I need to round to two decimal places. That would be 11.48%. The time period is intraday. The reasons for the price movement are two points: first, the board appointed Leonard J. LeBlanc as independent director and chair of the audit committee, which aligns with Nasdaq rules and improves governance. Second, the stock price exceeded the average analyst target price of $18.12 on February 2, 2026, reaching $18.54. I need to include both reasons in the brief explanation. The example provided has two sentences after the percentage and time period, so I can follow that structure. The first reason is the board appointment, and the second is the stock price surpassing the target. Also, the company name should remain unchanged, and the percentage should be rounded without trailing zeros. Let me check the rules again to make sure. The headline should have the company name, percentage, time period, and a brief reason. The example also includes additional details in the next paragraph. Wait, in the example output, after the initial headline, there's a line break and more details. But the transformation rules mention "a brief reason for the price movement, retaining key information." So maybe I need to include both reasons in the headline but keep it concise. Wait, the example output for Pineapple Energy Inc. has two sentences after the initial headline. The first sentence includes the percentage and time period, followed by the reason (the subsidiary's project), and then another sentence about the company's focus. So in the user's example, the first sentence is the headline with the percentage and time, and the second sentence is additional info. But in the transformation rules, the user says "provide a brief reason for the price movement, retaining key information." So perhaps the headline should include both reasons but in a concise manner. However, the example only mentions the subsidiary project as the reason. Hmm. Let me check the example again. In the example input, the company announced the project, and the output headline includes that as the reason. The user's example has two points in the input, but the output only mentions the first one. Wait, the input for Pineapple Energy Inc. has two sentences after the percentage: one about the project and another about the company's focus. The output includes both in the first and second sentences. So maybe the user wants the headline to include the main reason (the project) and then the company's focus as additional info. But in the current problem, the input for AXT has two reasons: the board appointment and the stock price exceeding the target. So how to structure this? The example has the main reason first, then the company's focus. In this case, the two reasons are the board change and the stock price surpassing the target. The user wants the headline to include both reasons but briefly. So the structure would be: Company name, percentage, time period, reason 1 (board appointment), then reason 2 (stock price over target). Let me try to put that together. AXT surged 11.48% intraday, as the board appointed Leonard J. LeBlanc as independent director and audit committee chair, aligning with Nasdaq rules and enhancing governance, and the stock price reached $18.54, exceeding the average analyst target of $18.12. Wait, but the time period is intraday, so the movement happened during the trading day. The two reasons are the board appointment and the stock price surpassing the target. However, the stock price surpassing the target is a result, not a cause. The board appointment is a cause, but the stock price exceeding the target might be a separate event. However, the user's example includes the project as the reason, so perhaps in this case, the board appointment is the reason, and the stock price surpassing the target is an additional point. But the user's instruction says to provide a brief reason for the price movement. So the main reason is the board appointment, and the stock price surpassing the target is a consequence or another factor. But the example includes both in the output, so maybe I should include both. Alternatively, maybe the user wants the headline to state the two reasons. Let me check the example again. The example input had two sentences after the percentage: one about the project and another about the company's focus. The output includes both in the first and second sentences. So in this case, the first sentence is the main reason (board appointment), and the second sentence is the company's focus, but in the input for AXT, the second reason is the stock price exceeding the target. So maybe the structure is: AXT.