On June 21, 2024, W. Kip Speyer informed Bright Mountain Media, Inc. (the Company) that he will retire from his position as Chairman and as a member of the Board of Directors of the Company effective June 30, 2024 (the Effective Date). Mr. Speyer?s decision to retire as the Company?s Chairman was not the result of any disagreements between Mr. Speyer, on the one hand, and the Company?s management or Board, on the other hand, as to any matter relating to the Company?s operations, policies, or practices. On June 21, 2024, Harry Schulman, a director of the Company, notified the Company that he was resigning from the Board, effective June 30, 2024.

At the time of his resignation, Mr. Schulman was also the Chair of the Company?s compensation and audit committees. Mr. Schulman did not have any disagreement with the Company when he tendered his resignation. In connection with his resignation, the Company and Mr. Schulman entered into a separation agreement pursuant to which, among other things, the Company will accelerate vesting of unvested stock options held by Mr. Schulman.