On February 29, 2016, IKONICS Corporation received notice from Rondi Erickson, a director of the company and a member of the company's Compensation Committee and Nominating Committee, that Ms. Erickson has resigned from her positions as a director and a member of the Compensation Committee and Nominating Committee, effective March 3, 2016. Ms. Erickson's resignation is not due to any disagreement with the company. On March 3, 2016, the company's board of directors increased the size of the board by one member, fixed at nine the number of directors, and selected each of Marianne Bohren and Jeffrey D. Engbrecht as directors of the company.

Ms. Bohren and Mr. Engbrecht each were appointed to serve on the Audit Committee, Compensation Committee, and Nominating Committee. There are no arrangements or understandings between either Ms. Bohren or Mr. Engbrecht and any other person pursuant to which she or he was selected as a director.