On August 12, 2016, upon the recommendation of the nominating and corporate governance committee of the board of directors of Neurotrope, Inc., the board appointed Ms.Shana Phares as a member of the company's board effective immediately, to fill the vacancy created by the board's decision to increase the number of directors from six to seven, and to hold office in accordance with the company's By-laws until her successor is duly elected and qualified. Ms. Phares replaces William Singer as a designee to the board pursuant to the agreement between the company and Neuroscience Research Ventures, Inc. dated November 12, 2015. Mr. Singer will remain as a member of the Board but no longer as an NRV designee. Ms. Phares serves as President and Chief Executive Officer of the Blanchette Rockefeller Neurosciences Institute.