Joseph Malchow Biography and Net Worth

Joseph Malchow J.D. serves as Director of the Company. Prior to his appointment to the Board, Mr. Malchow and the Company had entered into a consulting agreement dated as of April 22, 2019, which remains in effect. Under this consulting agreement, Mr. Malchow has been granted 75,000 restricted stock units (RSUs) under the Company’s 2011 Equity Incentive Plan for services rendered under the agreement. The RSUs vest quarterly over a three-year period from April 22, 2019 with 8.34% of the shares vesting on each quarterly anniversary following the date of grant, provided that Mr. Malchow remains in continuous service through each such vesting date. As of the date of his appointment to the Board, 18,750 shares have fully vested. The RSU vesting may be accelerated in full in the event of termination by a change of control event as defined in the consulting agreement. Mr. Malchow is currently a member of the board of the National Civic Arts Society in Washington, D.C. and is involved with Stanford University's Freeman-Spogli Institute and Hoover Institution, and with The Federalist Society in Washington, D.C. He earned an A.B. from Dartmouth College and a J.D. from Stanford University.