On July 8, 2021, the Board of Directors of Unico American Corporation appointed Renai J. Effarah to Treasurer of the Company, effective immediately. Ms. Effarah, the Company's Controller, Vice President, Assistant Treasurer, and Assistant Secretary, will succeed Mr. Budnitsky, who currently serves as the Company's Chief Operations Officer and Secretary, and, on an interim basis, as the Company's Chief Executive Officer and President. Ms. Effarah has served as Controller of the Company since March 2017 and as Vice President, Assistant Treasurer, and Assistant Secretary of the Company since November 2020.