Usio, Inc. is mourning the loss of Michael R. Long, the Company's Chairman and co-founder, who passed away on September 7, 2022. Mr. Long served as the Company's Chairman and CEO since its inception in 1998 until August of 2016, when he exited the Chief Executive Officer role and focused his sole attention to leading the board of directors as the Company's Chairman. In a special board meeting on September 12, 2022, the board voted unanimously to name Mr. Long to the posthumous, honorary position of Chairman Emeritus and Louis Hoch as Chairman in addition to his current roles as President and CEO.

The Vice-Chairman position on the Board will remain vacant until a suitable replacement is identified. With Mr. Long's passing, Usio's board will remain in compliance with Nasdaq's corporate governance rules with a majority of independent board members and will continue to meet Nasdaq's board diversity requirements.