On August 30, 2022, the Board of Directors of Nicholas Financial, Inc. appointed Michael Rost as the Chief Executive Officer of the Company. Mr. Rost, age 51, has worked at the Company for more than 20 years. Prior to his appointment, Mr. Rost served as Interim Chief Executive Officer since May 2022, Vice President of Branch Operations for the Company from April 2021 to May 2022, as Divisional Vice President from June 2018 until April 2021, as District Manager from December 2010 until June 2018, and as Branch Manager from December 2001 until December 2010.