On January 28, 2016, Stan Gadek resigned from his position as Vice President and Chief Financial Officer of Great Lakes Aviation, Ltd. He will continue to serve as a consultant to the company through the remainder of February 2016. Michael O. Matthews, the company's former Chief Financial Officer, also continues to serve as a consultant to the company through July 2, 2016 pursuant to the previously disclosed agreement entered into between the Company and Mr. Matthews dated as of September 2, 2015.