Qumu Corporation (the “Company”) entered into an Agreement and Plan of Merger (the “Merger Agreement”), dated December 17, 2022, with Enghouse Interactive Inc. (“Parent”), and Cosmos Merger Sub Inc. and a wholly owned subsidiary of Parent (“Merger Sub”), providing for the acquisition of the Company by Parent in an all-cash transaction, consisting of a tender offer (the “Offer”) for all of the outstanding shares of the Company's common stock, par value $0.01 per share (the “Common Stock”), followed by a subsequent merger of Merger Sub with and into the Company (the “Merger”), with the Company surviving the Merger as a wholly-owned subsidiary of Parent. In connection with the consummation of the Merger and effective as of the Effective Time, each of Rose Bentley, Mary E. Chowning, Neil E. Cox, Daniel R. Fishback, Edward D. Horowitz, Kenan Lucas, and Robert F. Olson, the members of the Board of Directors of the Company (the “Board”) holding such positions immediately prior to the Effective Time resigned from the Board and from all committees thereof on which such directors served. These changes were not a result of any disagreement between the Company and the directors on any matter relating to the Company's operations, policies, or practices.

Additionally, effective as of the Effective Time, Rose Bentley, the Company's Chief Executive Officer, and Thomas A. Krueger, the Company's Chief Financial Officer, resigned from all director positions with the Company's subsidiaries.