AutoWeb, Inc. announced that upon completion of the Merger on August 31, 2022, Payam Zamani and Armita Rostamian became the members of the Company's board of directors. Accordingly, each of Michael J. Fuchs, Matias de Tezanos, Mark N. Kaplan, Jared R. Rowe, Janet M. Thompson and Jose Vargas ceased serving as members of the Company's board of directors at the Effective Time. These departures were solely in connection with the Merger and not a result of any disagreement with the Company, its management or its board of directors.

Immediately following the Effective Time, Jared R. Rowe ceased serving as President of the Company. Immediately following the Effective Time, Payam Zamani was appointed as President of the Company.