Sequential Brands Group, Inc. announced that as previously disclosed, the company has agreed that if the lenders under its Credit Agreement with Wilmington Trust, National Association, as administrative agent and collateral agent, continue to be lenders as of April 1, 2021, the Wilmington Lenders shall have the right to appoint an independent majority of the board of directors of the company, inclusive of Ms. Silvia Mazzucchelli and Mr. John Dionne, who currently serve as directors of the company. In light of the company’s expectation that the Wilmington Lenders will continue to be lenders as of April 1, 2021, the company received notice from: (i) Ms. Martha Stewart on March 26, 2021 that she was resigning from the Board effective immediately and (ii) Mr. Al Gossett, Mr. Gary Johnson and Mr. Stewart Leonard, Jr. on March 28, 2021 that each of them is resigning from the Board effective March 29, 2021. None of the resignations involved a disagreement with the company on any matter relating to its operations, policies or practices. Mr. Gossett served on the company’s audit committee, compensation committee and nominating and corporate governance committee; Mr. Johnson served on the company’s compensation committee and nominating and corporate governance committee; and Mr. Leonard served on the company’s audit committee and nominating and corporate governance committee.