On April 7, 2022, the board of directors of VerifyMe, Inc. appointed Mr. Scott Greenberg to serve as Executive Chairman of the Board, effective immediately. As a result, Mr. Greenberg ceased to be an independent director and stepped down as chair of the Board's Audit Committee and as a member of the Boards' Compensation Committee. Mr. Greenberg, age 65, has been serving as the non-executive Chairman of the Board since April 15, 2021 and as a director of the Company since 2019.

The company also appointed Mr. Adam H. Stedham to the Board, effective immediately. The Board has determined that Mr. Stedham is independent in accordance with applicable Nasdaq listing standards, and an audit committee financial expert in accordance with applicable SEC rules. Mr. Stedham will serve as the chair of the Board's Audit Committee and as a member of the Board's Compensation Committee.

The Board appointed Mr. Marshall Geller to serve as non-Executive Vice Chairman of the Board, effective immediately.