On July 9, 2015, Greg Carmichael resigned as a director of Vantiv, Inc. in order to focus on additional duties currently being assumed by Mr. Carmichael as part of the transition of his role at Fifth Third Bancorp (Fifth Third). Mr. Carmichael currently serves as President and Chief Operating Officer of Fifth Third. Mr. Carmichael was one of the two Class B directors of the company.

There were no disagreements between the company and Mr. Carmichael that led to his decision to resign. On July 9, 2015, Tayfun Tuzun, Executive Vice President and Chief Financial Officer of Fifth Third, was elected to the company's board of directors. Mr. Tuzun was elected to fill the Class B vacancy resulting from Mr. Carmichael's resignation by the company's remaining Class B director pursuant to the company's Amended and Restated Certificate of Incorporation.

Mr. Tuzun will hold office for the remainder of Mr. Carmichael's term, which expires at the company's 2018 annual meeting of stockholders.