On February 1, 2023, the Board of Directors of Vacasa, Inc. appointed John Banczak, the Company's Chief Operating Officer, as the principal operating officer, effective February 6, 2023. Mr. Banczak succeeds Craig Smith, who ceased serving as the Company's Chief Commercial Officer and principal operating officer, effective February 6, 2023. In connection with Mr. Smith's separation, the Company entered into a Separation and Release Agreement with him, which provides that his employment with the Company will end on March 13, 2023, and provides for separation benefits that are materially consistent with the separation benefits Mr. Smith is eligible for under his Change in Control and Retention Agreement with the Company.

Mr. Banczak, age 54, joined the Company in April 2021 following the Company's acquisition of TurnKey Vacation Rentals (TurnKey"), where he served as co-founder and Chief Executive Officer from October 2012 to March 2021. Prior to TurnKey, Mr. Banczak served as a Vice President at HomeAway (now Vrbo) from March 2010 to March 2012. In addition, Mr. Banczak served as President and Chief Operating Officer of BedandBreakfast.com from April 2004 to March 2010, as a director of airline, car and GDS operations at Hotwire.com from March 2002 to April 2004.

Mr. Banczak holds a BBA from the University of Wisconsin and an MBA from Northwestern University.