On December 2, 2016, the board of directors of Friedman Industries, Incorporated voted to increase the size of the Board from seven directors to eight directors and elected Michael J. Taylor to the Board to fill the resulting vacancy. As of the date of this disclosure, Mr. Taylor has not been appointed to any committees of the Board but is expected to be appointed to the Nominating Committee. Mr. Taylor, age 57, retired in 2014 from a 33 year career in the steel industry. Most recently, Mr. Taylor served as President of Cargill Metals Supply Chain from 2003 to 2014.