On March 2, 2020, the Board of Directors of Veeco Instruments Inc. and John R. Peeler, Chairman of the Board, mutually agreed that Mr. Peeler will resign his position as Chairman and Director of the Board, effective as of the conclusion of the company's Annual Meeting of Stockholders to be held on May 7, 2020. In addition, effective as of the conclusion of the company's Annual Meeting of Stockholders to be held on May 7, 2020, the size of the Board of Directors shall be reduced from nine directors to eight directors, and Richard A. D’Amore, a current Board member, will assume the position of Chairman of the Board and relinquish his position as Lead Director of the Board (which role will be consolidated into the role of Chairman of the Board).