On May 10, 2021, Jesus Socorro notified Veru Inc. that he was resigning from the Company's Board of Directors effective May 14, 2021. Also on May 10, 2021, following the recommendation of the Board's Nominating and Corporate Governance Committee, the Board appointed Lucy Lu, M.D. to serve as a director effective May 14, 2021, to fill the vacancy created by Jesus Socorro's resignation. Dr. Lu was also appointed as a member of each of the Compensation Committee and Audit Committee, and to serve as the Chair of the Audit Committee.