Impac Mortgage Holdings Inc (IMPM)

[Enterprising Investor]

Impac Mortgage Holdings, Inc. Discloses Departure of Director and Officer; Amendment ByLaws; Loan agreement Breach/Waiver (10/01/24)

Newport Beach, CA, October 1, 2024 – On September 30, 2024, Ms. Katherine Blair resigned from the Board of Directors (“Board”) of Impac Mortgage Holdings, Inc. [OTC Pink Limited: IMPM] (the “Company”). Ms. Blair was originally appointed to the Company’s Board in December 2019. In conjunction with Ms. Blair’s departure, the Board voted unanimously to amend certain provisions of the Company’s Bylaws which might have required, under certain circumstances, that the Company maintain a Board consisting of a majority of independent directors. The Board also approved a reduction in the number of board members from three to two, effective upon Ms. Blair’s departure.

In addition, the Company also announces that Jon Gloeckner, SVP Financial Reporting and Assistant Treasurer, as well as Interim Principal Financial Officer and Principal Accounting Officer, is resigning his positions with the Company effective October 15, 2024. Mr. Gloeckner will be executing a consulting agreement with the Company upon his departure to continue to provide certain finance, accounting and reporting services through April 15, 2025.

Neither the departure of Ms. Blair nor Mr. Gloeckner is the result of any disagreement with the Company or its Board.

Finally, the Company recently requested, and received, a waiver of an immaterial breach of a monthly expense-specific financial covenant under its revolving credit facility.

https://www.otcmarkets.com/otcapi/company/dns/news/document/77519/content