Corvex MOVE Ownership Percentage

The Series A Stock will convert at the option of the holder in accordance with the terms of the Certificate of Designations. Holders of Series A Preferred Stock are entitled to dividends at an annual rate equal to 8.0% of the Original Series A Issue Price per share, calculated on a 360-day year, compounding annually. Dividends accrue and accumulate from the Original Issue Date, whether or not declared. The number of shares of Company common stock to which a holder of Series A Stock shall be entitled to receive upon conversion shall be equal to the Stated Value (as defined in the Certificate of Designations) of the Series A Stock being converted plus accrued and unpaid dividends divided by $5.50 (with any fractional shares being rounded up to the nearest whole share). The 3,000 outstanding shares of Series A Preferred Stock are convertible into 545,456 shares of common stock, plus an additional 6,666 shares based on dividends in arrears as of December 31, 2025. Dividend expense for the year ended December 31, 2025 was $37,000. The terms of the Series A Stock include a beneficial ownership limitation pursuant to which the Company is not permitted to effect any conversion of Series A Stock held by a holder to the extent that after giving effect to such issuance the holder and its affiliates would beneficially own in excess of 19.99% of the outstanding shares of common stock, unless stockholder approval has been obtained prior thereto as required under the rules and regulations of Nasdaq.