On August 14, 2019, John Schaefer informed the Board of Directors (the “Board”) of Intevac, Inc. (the “Company”) of his decision to retire from the Board effective immediately. His retirement was not due to any disagreements with the Company or any matter relating to its operations, policies or practices. Mr. Schaefer has been a valuable member of the Company's Board since 2010. At the time of his retirement, Mr. Schaefer was an independent director and Chairman of the Compensation Committee. Kevin Barber, one of the Company’s independent directors, was appointed by the Company’s Board on August 14, 2019 to replace Mr. Schaefer as Chairman of the Compensation Committee.
Intevac, Inc. is a provider of thin-film process technology and manufacturing platforms for high-volume manufacturing environments. The Company operates through a single segment, which is Thin Film Equipment (TFE). The TFE segment designs, develops and markets vacuum process equipment solutions for high-volume manufacturing of small substrates with precise thin-film properties, such as for the hard disk drive (HDD) and advanced coatings (ADVC) markets, as well as other adjacent thin-film markets. In HDD Equipment Market, it designs, manufactures, markets and services complex capital equipment used to deposit thin films and lubricants onto substrates to produce magnetic disks. In ADVC Market, the Company develops equipment to deposit optically transparent thin films onto display cover panels typically found on consumer and automotive electronics products. Its products include 200 Lean Disk Sputtering System, TRIO, and upgrades, spares, consumables and services (non-systems business).
INTEVAC, INC. 
