On January 5, 2021, Mill Road Capital Management LLC announced that it is disappointed that, despite its willingness to significantly improve its most recent proposal on October 14th, it has reached the conclusion that constructive discussions are not possible and therefore it must terminate its proposal to acquire 100% of the outstanding shares of Huttig Building Products, Inc. Mill Road Capital stated that while it continues to view that the Company and its shareholders would benefit from a take-private transaction at a substantial premium, as one of the Company’s shareholders it is hopeful that the Company’s reported financial results and public share price will significantly improve in the near-term so that shareholder value destruction can be avoided.