Dr. Howard Berman resigned from the Board of Directors and his position as Executive Chairman, effective April 1, 2026. The departure is part of a planned CEO transition process initiated in November 2024. Mark H. Pavao, a biopharmaceutical executive with over 30 years of experience, was appointed as an independent director effective April 1, 2026. Dr. Berman will receive a prorated 2026 bonus at 100% of target and COBRA premium waivers through March 31, 2027. Dr. Berman's unvested stock options will continue to vest for 12 months, and the exercise period for vested options is extended to two years post-separation.