On March 18, 2020, YUM! Brands, Inc. announced acquisition of The Habit Restaurants, Inc. (the “Company”). Pursuant to the Merger Agreement, at the Effective Time, Christopher K. Reilly, Allan W. Karp, Ira Zecher, A. William Allen III, Joseph J. Kadow and Karin Timpone resigned from their positions as members of the board of directors of the Company. In addition, at the Effective Time, Scott Catlett was appointed as a member of the board of directors of the Company.