Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On December 22, 2022, Gary Cantrell, a member of the Board of Directors of Aytu BioPharma, Inc. (the "Company"), notified the Company of his intention to retire from the Company's Board of Directors, effective December 31, 2022. Mr. Cantrell did not advise the Company of any disagreement with the Company on any matter relating to its operations, policies or practices. The Company is initiating a search for an additional member of the Board of Directors.

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