On March 3, 2016, Brian J. Underdown voluntarily resigned from the Board of Argos Therapeutics, Inc., effective upon the initial closing of the financing. There were no disagreements between Mr. Underdown and the company or any officer or director of the company which led to Mr. Underdown's resignation. In conjunction with his resignation, Mr. Underdown also resigned from his role as a member and as chairman of the company's Compensation Committee and as a member of the company's Nominating and Corporate Governance Committee.