On June 13, 2023, United-Guardian, Inc. (the “Company”) announced that, upon mutual agreement, Beatriz Blanco would be ending her employment as President of the Company. Ms. Blanco's role as President and her involvement in the daily operations of the company were mutually terminated effective June 8, 2023, but she will continue to be employed by the company until July 8, 2023. Ms. Blanco and the Company's Board of Directors have agreed to the general terms of a separation agreement to govern Ms. Blanco's departure, which will be filed as an exhibit to the Company's Quarterly Report on Form 10-Q for the quarter ending June 30, 2023.

Ms. Blanco resigned as a Director of the Company on June 8, 2023. Ms. Blanco's resignation from the Company's Board of Directors was amicable, and there were no disagreements between Ms. Blanco and the Company's Board of Directors with regard to the operations, policies or practices of the Company. At the present time the Board has not yet decided if and when it will fill the vacancy created by the resignation of Ms. Blanco from the Board.