On June 22, 2022, CalAmp Corp. announced that on April 29, 2022, B. Riley Asset Management, LLC. through one of its managed funds, 272 Capital Master Fund Ltd, (collectively BRAM) submitted to the Company a stockholder notice of intent to nominate six persons for election as directors of the Company.

The Company stated that following discussions, BRAM irrevocably withdrew the Nomination Letter, and Cummins will join the Board pursuant to a Cooperation Agreement, dated June 21, 2022, by and among the Company and BRAM. The Company stated that the agreement includes various terms, conditions and provisions, including that the Company will include Cummins in the Board's recommended director slate of candidates to stand for election at the 2022 annual stockholders meeting. Cummins, while serving as a member of the Board, is required to (i) meet all director independence and other requirements of the Company, of stock exchange listing standards and of the Securities and Exchange Commission and related securities laws and regulations, (ii) be qualified to serve as a director under the Delaware General Corporation Law and (iii) comply with Company policies, guidelines and codes of conduct applicable to directors, subject to the terms of the Agreement.