On October 22, 2014, Premier Holding Corporation completed its acquisition of 85% of the membership interests of Lexington Power & Light, LLC (LP&L) from its owners. The former owners of LP&L exercised their right to nominate one board member to Premier's board of directors. Thereafter, Premier's board of directors elected Larry Hutcher to fill one vacancy on its board of directors.

The election of Mr. Hutcher to the board is subject to his written acceptance and inclusion as a covered person on the company's Directors and Officers Liability Insurance Policy. Larry Hutcher is the Co-Managing Partner and the Chair of Davidoff Hutcher & Citron LLP's Litigation group.