On October 10, 2022, the compensation committee of WD-40 Company's board of directors approved certain changes to the compensation arrangements of William B. Noble, a named executive officer, in connection with his promotion to Group Managing Director and additional responsibilities that he will undertake, the effective date of which is November 1, 2022. Such arrangements include the following: (i) an increase of 10% in annual base salary from $326,067 to $358,674; (ii) a retention-based equity award of 649 restricted stock units (“RSUs”) under the 2016 Stock Incentive Plan; (iii) a long-term performance-based equity award of 649 market share units (“MSUs”), the determination of whether such award will vest will not occur until October 2025; and (iv) a short-term performance-based equity award of 1,138 performance share units (“PSUs”) that is tied to WD-40 Company exceeding its fiscal year 2023 maximum performance goals, which, if exceeded, would result in the issuance of restricted common stock in October 2023.