Three directors (Christopher W. Gerry, Thomas Ricks, and Kristian Humer) have tendered conditional resignations effective two business days after the June 10, 2026, Annual Meeting. Resignations are contingent upon shareholder approval of a Series B Preferred Stock conversion and a charter amendment to increase authorized common shares to 300 million. Three new directors (Stephen M. Hahn, Saira Ramasastry, and Karen Vousden) have been conditionally appointed to the Board. Anand Parikh is expected to be appointed CEO, while Brian Stephenson, Ph.D., is expected to become CFO, pending shareholder approval of the proposals. The Board adopted a new Severance and Change in Control Plan for key executives.