On February 28, 2019, Driver Management Company LLC announced that it had several discussions with the DNB Financial Corporation regarding its request that the Company’s board immediately engage a qualified financial advisor and, with the advice and assistance of such advisor, solicit acquisition proposals for Company. Driver Management stated that it also urged the Company’s board to engage advisors that are well known for their expertise in advising publicly traded community banking organizations of similar size to the Company in sale transactions and that have significant recent experience with such transactions. In addition, Driver Management stated that it aslo sent the Company’s board an additional letter (the ‘February 26 Letter’) asking Company’s board to clarify the reasons for paying Liuzzi a ‘change of control’ payment when no change of control appeared to occur. Further, Driver Management stated that the Company has not responded to the February 26 Letter and, to its knowledge, the Company has failed to form a committee of independent directors to investigate this payment and related disclosure.