On February 2, 2023, the Board of Directors (the “BOD”) of the Company appointed John T. Burns, the Company’s Senior Vice President, Finance and Chief Accounting Officer, as the Company’s Chief Financial Officer and principal financial officer. Mr. Burns, age 37, joined the Company in May 2013 and has held various positions of increasing responsibility during his tenure, including his current position of Senior Vice President, Finance and Chief Accounting Officer which he has held since January 5, 2022. Prior to joining the Company, Mr. Burns was a Securities and Exchange Reporting Manager at Pixelworks, Inc. (NASDAQ: PXLW), and began his career in public accounting at Moss Adams LLP. Mr. Burns received a B.S.M. in Finance and Master of Accounting degree from Tulane University. He is an active Certified Public Accountant.

Mr. Burns entered into an employment agreement with the Company (the “Employment Agreement”) on January 11, 2018, with an effective date of December 30, 2017. The Employment Agreement provides that Mr. Burns is eligible to participate in any employee benefit plans of the Company of general applicability to other employees of the Company including, without limitation, group medical, dental, vision, disability, life insurance, and flexible spending account plans. Commencing on the 18-month anniversary of the effective date of the Employment Agreement, if Mr. Burns both (i) is terminated by the Company without cause or Mr. Burns resigns from employment for good reason, in each case as such terms are defined in the Employment Agreement, and (ii) reasonably cooperates with the Company in all matters relating to the winding up of Mr. Burns’ pending work on behalf of the Company, Mr. Burns will be entitled to receive continuing severance pay at a rate equal to 100% of his base salary as then in effect for a period of nine months from the effective date of such termination. The foregoing description of the Employment Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Employment Agreement, a copy of which was filed as Exhibit 10.1 to the Current Report on Form 8-K filed on January 18, 2018. In connection with Mr. Burns’ appointment, Mr. Burns’ base salary was increased to $365,000 per year, and his annual target bonus was increased to 40% of his base salary.

Mr. Burns does not have any family relationship with any director or other executive officer of the Company. There have been no related party transactions between the Company and Mr. Burns reportable under Item 404(a) of Regulation S-K.