Annual Equity Grant

On January 2, 2026, the Company granted an aggregate of 30,000 stock options to the independent members of its Board of Directors. The options vest in equal annual increments over a three year period and have an exercise price of $3.68. Additionally, on January 2, 2026, the Company granted an aggregate of 25,500 stock options to its employees. The options vest immediately on the grant date and have an exercise price of $3.68. Additionally, on January 2, 2026, the Company issued an aggregate of 36,000 restricted stock units to the members of its management group. The restricted stock units vest either (i) on the third anniversary of the grant date or (ii) in equal increments over a twenty-four month period.

Appointment of New Director

On January 28, 2026, the Company appointed Vanessa Jacoby as a director of the Company. Pursuant to the Company's non-employee director compensation plan, as amended on January 28, 2026, as a non-employee director of theCompany, Ms. Jacoby will receive an annual retainer of $32,500. She will also receive an additional $10,000 annually as Chair of the Audit Committee and $7,500 as a non-chairperson member of the Compensation Committee. The Company will also reimburse Ms. Jacoby for reasonable expenses in connection with attendance at board and committee meetings.

In conjunction with her appointment to the Board, on January 28, 2026, Ms. Jacoby was automatically granted options to purchase up to 10,000 shares of common stock. The options will vest in three equal installments over a period of three years on the first, second, and third anniversary of the grant or upon change of control.

Consulting Agreement with Dr. Birnbaum

Effective January 28, 2026, Dr. Jay Birnbaum retired from the Company's Board of Directors. Dr. Birnbaum will continue to serve the Company pursuant to a consulting agreement (the “Consulting Agreement”), for a term of one year. Dr. Birnbaum will receive compensation of 5,000 Restricted Stock Units (RSUs) representing 5,000 shares of the Company’s Common Stock per quarter. Such RSUs will vest on the second business day after the Company files its Annual Report on Form 10-K for the year ended March 31, 2027, or upon change of control. Any outstanding equity awards held by Dr. Birnbaum will continue to vest in accordance with their terms, subject to Dr. Birnbaum’s continued compliance with the terms of the Consulting Agreement through each applicable vesting date.