On July 21, 2021, David D. Smith, the Chief Financial Officer of Koss Corporation (“Koss” or the “Company”), informed the Company that he plans to retire effective February 28, 2022. Mr. Smith expects to continue to be employed by Koss through February 28, 2022 to continue in his current role and to support and assist with the transition of his responsibilities to his successor. Mr. Smith has served as the Company’s Chief Financial Officer since January 2010. Mr. Smith’s decision to retire is not due to any disagreement concerning the Company’s financial statements, policies or practices. The Company is currently in the process of succession planning to succeed Mr. Smith as the Chief Financial Officer.