On April 20, 2021, following the Annual Meeting of Shareholders, the Board of Directors of PS Business Parks, Inc. increased the size of the Board to eleven directors and elected Dan Mac" Chandler, III and Irene H. Oh to serve as directors of the Company effective April 20, 2021. The Board appointed Mr. Chandler to serve on the Capital Committee and Ms. Oh to serve on the Nominating and Corporate Governance Committee and the Audit Committee. Mr. Chandler has served as the Company's President and Chief Executive Officer since April 5, 2021. He joined the Company from Regency Centers Corporation. Ms. Oh has served as Executive Vice President and Chief Financial Officer of East West Bancorp, Inc. and East West Bank, since January 2010.