On January 11, 2021, Naveen Anand submitted his resignation as President and Chief Executive Officer of Hallmark Financial Services, Inc. (the “Company”), as well as all other positions with any of the subsidiaries of the Company, effective February 26, 2021. Mr. Anand cited family and personal reasons for his resignation. On January 14, 2021, the Board of Directors of the Company appointed the current Executive Chairman, Mark E. Schwarz, to the additional positions of President and Chief Executive Officer of the Company, effective February 27, 2021. Mr. Schwarz was elected Executive Chairman of the Company in August, 2006. He previously served as Chief Executive Officer of the Company from January, 2003 until August, 2006, and as President from November, 2003 through March, 2006.