On June 29, 2015, Ubiquiti Networks, Inc. entered into an agreement for advisory and interim management services with FTI Consulting, Inc. In connection with this agreement, the company appointed Mark C. Spragg as Interim Chief Accounting Officer effective August 4, 2015. Effective August 4, 2015 and in connection with the appointment of Mr. Spragg, Mr. Rohit Chakravarthy will no longer serve as Chief Accounting Officer of the company. Mr. Chakravarthy's duties as principal financial officer and principal accounting officer will be performed on an interim basis by Mr. Spragg.

On August 4, 2015, Mr. Chakravarthy informed the company of his intention to resign from the company effective August 14, 2015 and he will remain available to the company in an advisory capacity to assist with the transition of his responsibilities and other related matters. Mr. Chakravarthy's resignation was not due to any disagreement with the company regarding its operations, financial reporting, policies or procedures. Mark C. Spragg, 54, has been a senior managing director in the Telecommunications, Media & Technology practice of FTI Consulting since joining FTI in 2002.