Effective December 21, 2022, the Board of Directors of Network-1 Technologies, Inc. elected Robert Mahan as the Company's new Chief Financial Officer following David Kahn's retirement. Mr. Mahan will provide services to the Company on a consulting basis and will be compensated at the rate of $175,000 per annum. Robert Mahan's background is as follows: Robert M. Mahan, CPA, age 56, currently serves as President of Management and Financial Services, Inc., he founded in 2011.

From May 2021 to February 2022, Mr. Mahan served as Interim Chief Financial Officer of Loft Orbital Solutions, Inc. From April 2019 to May 2021, he served as the Interim Chief Financial Officer of XWELL, Inc., formerly XpresSpa Group, Inc. From November 2016 through April 2019, Mr. Mahan served as the Chief Financial Officer of SkyBell Technologies, Inc., a company engaged in the video doorbell and smart home industry. Mr. Mahan began his career in the audit practice of PricewaterhouseCoopers from 1989 through 1992 and as a Controller/Division Chief Financial Officer of Tommy Hilfiger USA, Inc. from 1992 – 2001.