On February 27, 2020, our Board of Directors (the “Board”), appointed Chad B. Johnson to serve as an additional director to fill an existing vacancy on the Board. Mr. Johnson will initially serve on the Board’s Audit Committee.

The Board and its Governance, Compensation and Nominating Committee considered Mr. Johnson for appointment to the nomination and evaluation procedures for substitute nominees set forth in the previously announced Cooperation Agreement dated May 17, 2018 with Nick Swenson, Air T, Inc., and Groveland Capital LLC (the “Cooperation Agreement”), the text of which is provided as Exhibit 10.1 to this report and incorporated herein by reference.

About Insignia Systems, Inc. (NASDAQ:ISIG)

Insignia Systems, Inc. (Insignia) is a developer and marketer of in-store products, programs and services for consumer goods manufacturers and retail partners drive sales at the point of purchase. The Company’s products include the Insignia Point-of-Purchase Services (POPS) in-store marketing program, thermal sign card supplies for the Company’s Impulse Retail System, laser printable cardstock and label supplies, and The Like Machine. Its POPS program is an account-specific, shelf-edge advertising and promotion tactic. The program allows manufacturers to deliver product information to consumers at the point-of-purchase and to leverage the local retailer brand and store-specific prices to provide a call to action that draws attention to the featured brand and triggers a purchase decision. It focuses on managing a retail network, made up of over 22,000 store locations, for the purpose of providing at-shelf market access for consumer packaged goods manufacturers’ marketing programs.