Towerstream Corporation appointed John Macdonald to serve as Chief Financial Officer of the Company. Mr. Macdonald joined the Company as Corporate Controller in March 2017. Prior to joining the Company, Mr. Macdonald was the Assistant Corporate Controller at KVH Industries, a leading provider of mobile connectivity products and guidance and stabilization solutions from February 2015 to February 2017.

Laura Thomas resigned from her position as Chief Financial Officer of the Company effective immediately. Paul Koehler and Donald MacNeil resigned from their positions as members of the Board of Directors and all committees thereof. The Board of Directors of the Company appointed Ernest Ortega to serve as a member of the Company's Board of Directors.

Mr. Ortega currently serves as the Chief Executive Officer of the Company.