On May 27, 2016, Patricia N. Egan informed Harris & Harris Group, Inc. of her intention to resign as Chief Financial Officer and Chief Compliance Officer, effective as of the close of business on June 30, 2016, in order to pursue other opportunities. Ms. Egan has agreed to provide certain consulting services to the company with respect to accounting and financial reporting matters on an as-needed basis following the effective date of her resignation. The board of directors has appointed Daniel B. Wolfe to resume the role of Chief Financial Officer, a role he held from 2008 to 2013, and to assume the role of Chief Compliance Officer, each beginning on July 1, 2016.

Additionally, the board of directors has eliminated the titles of Chief Operating Officer (a title held by Daniel B. Wolfe) and Managing Director (titles held by Douglas W. Jamison and Daniel B. Wolfe) effective as of July 1, 2016. As of that date, Douglas W. Jamison will hold the positions of Chairman of the Board and Chief Executive Officer of the company and Daniel B. Wolfe will hold the positions of President, Chief Financial Officer and Chief Compliance Officer of the company.