Houston Wire & Cable Company announced that in connection with the Merger, James L. Pokluda III, the Company’s President and Chief Executive Officer, and Eric W. Davis, the Company’s Vice President and Chief Financial Officer, have been separated from their respective positions with the Company effective June 15, 2021. Pursuant to the terms of their respective employment agreements with the Company and subject to execution and non-revocation of general releases of claims in favor of the Company and continued compliance with restrictive covenants, Mr. Pokluda and Mr. Davis will become entitled to severance benefits for a termination by the Company without cause following a change in control of the Company, which are described in the Company’s Proxy Statement filed with the SEC on May 12, 2021. In connection with the Merger, each of the members of the board of directors of the Company resigned as a director of the Company and from all committees of the board of directors on which he or she served, effective as of the Effective Time. Pursuant to the terms of the Merger Agreement, at the Effective Time, the directors of Merger Sub immediately prior to the Merger became the directors of the Surviving Corporation.