On June 30, 2016, Sonia B. Beard resigned from the board of directors of Ocean Bio-Chem Inc. On July 1, 2016, the board of directors of the company elected Kim Krause to fill the vacancy resulting from Ms. Beard's resignation until the company's 2017 annual meeting of shareholders, or until her successor is duly elected and qualified. Ms. Krause has served as First Vice President for SunTrust Banks Inc.'s Foundations and Endowments Specialty Practice since 2011. Previously, she served as Vice President and Institutional Relationship Manager for Franklin Templeton Institutional, where she was responsible for servicing large endowments and foundations, as well as public and corporate defined benefit and defined contribution plans.