On April 24, 2020, Voce Capital Management LLC issued a statement in response to the filing of On Deck Capital, Inc.’s proxy investor presentation on April 22, 2020 stating that the Company has made clear it will double down on the status quo and make no meaningful changes to its strategy, expense structure, or corporate governance. Voce Capital also stated that despite losing more than 90 percent of stockholder value since IPO, the Company’s Board and Management are asking investors to simply trust them once again. Voce Capital added that the 3 Board leaders most responsible for the Company’s failures are currently up for reelection and would be protected until 2023 under Company’s proposed de-stagger plan. Further, Voce Capital stated urged its fellow stockholders to join it in voting against the reelection of the Company’s Chairman and CEO Noah Breslow; Corporate Governance and Nominating Committee Chair Jane Thompson; and Compensation Committee Chair Ronald Verni at the Annual Meeting Of Stockholders on May 7, 2020.