On July 12, 2023, James Moniz informed Intevac, Inc. of his decision to retire and resign from his positions as the Company's Executive Vice President, Finance and Administration, Secretary and Treasurer, effective August 4, 2023. Mr. Moniz will continue to direct the Company's finance organization until his departure date. The Company has engaged an executive recruiting firm and is in the process of conducting an executive search for a new Chief Financial Officer.

On July 14, 2023, the Company's Board of Directors appointed Kevin H. Soulsby as interim Chief Financial Officer. In this role, Mr. Soulsby will assume the responsibilities of principal financial officer and principal accounting officer until the Board appoints a replacement. Mr. Soulsby, 66, joined Intevac in February 1991 and served as Corporate Controller from 1995 through 2019 and as Managing Director, Tax & Risk Management from 2019 through the present.

Mr. Soulsby holds an MBA and a BSC in Accounting from Santa Clara University.