SPYR, Inc. announced that effective December 31, 2021, the company terminated the employments of James R. Thompson, Chief Executive Officer, President, and General Counsel, and Jennifer D. Duettra, Executive Vice-President, Assistant General Counsel, and Secretary. The terminations were made without cause and in the best interests of the company in order to reduce accrual of salaries. Effective December 31, 2021, the company appointed Tim Matula, age 61, as its Chief Executive Officer, Secretary, and Treasurer.

From 2016 through 2018, Mr. Matula served as independent director and member of the audit committee of Appliance Recycling Centers of America, Inc. Mr. Matula holds a Bachelor of Science in Business from California State University, Fresno, and a 2004 Certificate in Corporate Compliance from Tulane University Law School.