Item 4 — Purpose of Transaction
On April 29, 2026, Ocean Capital sent a letter by email to the Issuer (the "2026 Notice") providing notice of its intent to nominate the 2026 Nominees for election at the Board for the Issuer's 2026 annual meeting of stockholders (the "2026 Annual Meeting"). The 2026 Nominees'' biographies are set forth below. Brent D. Rosenthal, age 54, founded Mountain Hawk Capital Partners, LLC, an investment fund focused on small and microcap equities in the technology, media, telecom and food industries, in 2017. Mr. Rosenthal has served on the board of directors of Pitney Bowes Inc. (NYSE: PBI) since June 2025; Horizon Kinetics Holding Corporation (OTCMKTS: HKHC) since August 2024; Syntec Optics Holdings, Inc. (NASDAQ: OPTX) since April 2023; Puerto Rico Residents Tax-Free Fund, Inc. ("PRRTFF I"), Puerto Rico Fund Tax-Free Fund VI, Inc. (PRRTFF VI") and Tax Free Fund for Puerto Rico Residents, Inc. ("TFF I") since May 2025; and Puerto Rico Residents Tax-Free Fund IV ("PRRTFF IV') since July 2025. Previously he served as a director of FLYHT Aerospace Solutions Ltd (OTCQX: FLYLF) from June 2020 to December 2024, director of RiceBran Technologies (OTCPK: RIBT) from July 2016 to November 2024, and Non-Executive Chairman/Lead Director of comScore, Inc. (NASDAQ: SCOR) from April 2018 to June 2024 and as a director from January 2016 to April 2018. Mr. Rosenthal also served as a director of Rentrak Corporation (NASDAQ: RENT) from 2008 to 2016, as a director to SITO Mobile (NASDAQ: SITO) from August 2016 to July 2018, and as an Adviser to the board of Park City Group, Inc. (NASDAQ: PCYG), the parent company of ReposiTrak Inc., from November 2015 to February 2018. Earlier in his career, Mr. Rosenthal was a Partner in affiliates of W.R. Huff Asset Management, an employee-owned investment manager, where he worked from 2002 to 2016, during which time he was an Adviser to the board of directors of Virgin Media (NASDAQ: VMED) and Time Warner Cable (NYSE: TWC). Mr. Rosenthal earned his B.S. from Lehigh University and M.B.A. from the S.C. Johnson Graduate School of Management at Cornell University. He is an inactive Certified Public Accountant. The Nominating Stockholder believes Mr. Rosenthal's extensive leadership experience makes him qualified to serve as a director of the Fund. Ethan A. Danial, age 29, is a Puerto Rico-based investment professional with experience in research and trading of defaulted and restructured Puerto Rico municipal bonds. Mr. Danial has been employed as a member, authorized officer and manager at RAD Investments, LLC, an investment firm in Puerto Rico, since January 2019. Additionally, from August 2017 through October 2022, Mr. Danial was the Vice President of Caribbean Capital and Consultancy Corp., an investment firm in Puerto Rico. Since May 20, 2025, Mr. Danial has served as a director and chairman of the board of PRRTFF I, PRRTFF VI, and TFF I. He has served as a director of Fund IV since May 20, 2025. On January 8, 2026, Mr. Danial was elected as a member of the board of directors of PRRTFF IV. Mr. Danial previously served as a director for Campo Caribe LLC, an agricultural business in Puerto Rico, from September 2019 to September 2022. Further, Mr. Danial served as a director at First Puerto Rico Tax-Exempt Target Maturity Fund VII, a Puerto Rico-based investment fund, from November 2020 until June 2021. Prior to Mr. Danial's employment at Caribbean Capital and Consultancy Corp., he earned his B.A. in Mathematics-Statistics from Columbia University in 2017. Since August 2023, Mr. Danial has been studying for his Juris Doctorate at Harvard Law School. The Nominating Stockholder believes Mr. Danial's investment and research experience with municipal bond funds makes him qualified to serve as a director of the Fund. Jose R. Izquierdo II, age 42, is a San Juan-based attorney with over a decade of experience in both the private and public sectors. Currently, he is the Member and Managing Director of Main Line Ventures, LLC, a firm that counsels corporations, international organizations and world-class athletes on a range of legal, strategic, and developmental matters. Mr. Izquierdo has served at Main Line Ventures, LLC since 2018. Mr. Izquierdo has served on the board of PRRTFF I, PRRTFF VI and TFF I since May 2025 and PRRTFF IV since July 2025. Mr. Izquierdo previously served as General Secretary of the World Boxing Organization's Executive Committee, an international non-profit organization. At the government level, Mr. Izquierdo has served as Executive Director of the Puerto Rico Tourism Company, a public corporation responsible for stimulating, promoting and regulating the development of Puerto Rico's tourism industry, from 2017 to 2018, as a member of the Governor of Puerto Rico's fiscal transition team, as a member of the Government of Puerto Rico's Economic Development Council, and as Assistant Secretary of Economic Development and has sat on numerous boards of directors. Mr. Izquierdo previously s