On May 7, 2018, Model N's board of directors unanimously approved the appointment of Jason Blessing, as Model N's Chief Executive Officer and as a Class III director with a term expiring at Model N's 2019 annual meeting of stockholders, in each case, effective May 10, 2018. Mr. Blessing will succeed Zack Rinat, who had re-assumed the role of Chief Executive Officer on an interim basis in November 2016. Since January 2018, Mr. Blessing has served as an enterprise software consultant.

Previously, Mr. Blessing served as the Chief Executive Officer of Plex Systems, Inc., from January 2013 to December 2017. On May 6, 2018, in connection with the appointment of Mr. Blessing, Mr. Rinat resigned as interim Chief Executive Officer and as a director, in each case, effective May 10, 2018. On May 7, 2018, Model N's Board also appointed Charles Robel as Chairman of the Board, effective May 10, 2018.