Item 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On December 1, 2021, the Board of Directors of Envela Corporation (the "Company") elected Richard D. Schepp as a member of the Board of Directors of the Company, to be effective immediately. Mr. Schepp will serve as a director with a term expiring at the Company's Annual Meeting of Stockholders in 2022. In connection with Mr. Schepp's election, the Board appointed Mr. Schepp to chair the Compensation Committee, and he will be a member of the Audit and Compliance, Governance and Nominating Committees. The Company announced the appointment of Mr. Schepp in its December 7, 2021 press release.

There is no arrangement or understanding pursuant to which Mr. Schepp was selected as a director of the Company, and there are no family relationships between Mr. Schepp and the other directors or executive officers of the Company. Since the beginning of the Company's last fiscal year, Mr. Schepp has not had any transactions, and there are no currently proposed transactions in which Mr. Schepp was or is to be a participant in amounts greater than $120,000 and in which any related person had or will have a direct or indirect material interest.






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