On May 4, 2023, Servotronics filed a definitive proxy statement soliciting proxies and urged the shareholders to vote for all its director nominees at the Company’s annual shareholders meeting scheduled to be held on June 9, 2023. In addition, the Company stated that board has already seen significant turnover as a result of its refreshment plan over the last year and the current Board has been actively involved in overseeing the development of our new strategic plan.