The New Home Company Inc. announced In connection with the consummation of the Merger, each of H. Lawrence Webb, Wayne Stelmar, Sam Bakhshandehpour, Michael J. Berchtold, Paul C. Heeschen, Gregory P. Lindstrom, Cathey Lowe and Douglas C. Neff resigned as directors of the Board of Directors of the Company (the Company Board") and from all committees of the Company Board on which such directors served, effective as of the Effective Time. On September 8, 2021, pursuant to the Merger Agreement in connection with the consummation of the Merger, the directors of Merger Sub, Peter Sinensky and Tracy Vo (the Post-Closing Directors"), became the directors of the Surviving Corporation in lieu of the Company's existing directors. In accordance with the Surviving Corporation's bylaws and Section 141(k) of the DGCL, following the Effective Time, Parent, as the sole stockholder of the Surviving Corporation, will be removing the Post-Closing Directors and electing additional directors of the Surviving Corporation. Information about Peter Sinensky and Tracy Vo is contained in the Offer to Purchase, filed by Parent and Merger Sub as Exhibit (a)(1)(A) to the Tender Offer Statement on Schedule TO, originally filed with
the SEC on August 10, 2021, which information is incorporated herein by reference.