The board of directors of Everspin Technologies, Inc. elected each of Tara Long and Glen Hawk as a member of the Board, effective immediately. The Board has also appointed Ms. Long to serve on its Audit Committee, Nominating and Corporate Governance Committee and Compensation Committee, and appointed Mr. Hawk to serve on its Audit Committee and Compensation Committee, effective immediately. There is no arrangement or understanding between Ms. Long and any other person pursuant to which she was selected as a director, and there is no arrangement or understanding between Mr. Hawk and any other person pursuant to which he was selected as a director.

Neither Ms. Long nor Mr. Hawk have any direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K of the Securities Exchange Act of 1934, as amended. Additionally, on March 28, 2022, Michael B. Gustafson informed the Company of his decision not to stand for re-election to the Board at the Company's 2022 annual meeting of stockholders currently expected to be scheduled for May 25, 2022. The decision by Mr. Gustafson to transition from the Board is not the result of any disagreement with the Company on any matter relating to the Company's operations, policies or practices.