On March 14, 2022, Sypris Solutions, Inc. announced the appointment of Richard L. Davis, the Company's Vice President, to the position of Chief Financial Officer effective as of October 12, 2022. Mr. Davis will remain located in Louisville, Kentucky and will report to Jeffrey T. Gill, the company's Chairman, President and Chief Executive Officer. Mr. Davis will succeed Anthony C. Allen, the company's current Vice President, Chief Financial Officer and Treasurer, who will serve as the Vice President and Treasurer of the Company effective as of October 12, 2022.

Mr. Allen will continue to serve in his current position and will receive his current salary and other compensation and benefits until October 12, 2022.