LEDS · SemiLEDs Corp

These shares represent restricted stock units and will be settled in LEDS common stock upon vesting, 25% of the restricted stock units will vest on February 27, 2026, May 27, 2026, August 27, 2026 and November 27, 2026, as long as the Reporting Person's continuous services through the applicable vesting date. In the event that the 2026 annual meeting of stockholders falls before November 27, 2026, 100% of the stock units shall immediately vest on the date of the 2026 annual meeting of stockholders.

These shares represent restricted stock units and will be settled in LEDS common stock upon vesting, 25% of the restricted stock units will vest on February 27, 2026, May 27, 2026, August 27, 2026 and November 27, 2026, as long as the Reporting Person's continuous services through the applicable vesting date. In the event that the 2026 annual meeting of stockholders falls before November 27, 2026, 100% of the stock units shall immediately vest on the date of the 2026 annual meeting of stockholders.

These shares represent restricted stock units and will be settled in LEDS common stock upon vesting, 25% of the restricted stock units will vest on February 27, 2026, May 27, 2026, August 27, 2026 and November 27, 2026, as long as the Reporting Person's continuous services through the applicable vesting date. In the event that the 2026 annual meeting of stockholders falls before November 27, 2026, 100% of the stock units shall immediately vest on the date of the 2026 annual meeting of stockholders.

These shares represent restricted stock units and will be settled in LEDS common stock upon vesting, 12.5% of the restricted stock units will vest every three months starting from the vesting commencement date of July 10, 2025, so long as the Reporting Person's continuous service through the applicable vesting date. These restricted stock units will become fully vested upon a change of control.

On February 28, 2025 (the "Effective Date"), Simplot Taiwan Inc., an Idaho corporation ("ST"), received 722,891 shares of Common Stock of the Issuer as a payment of principal pursuant to a Loan Agreement between the Issuer and J.R. Simplot Company, a Nevada corporation ("JRS"), dated January 8, 2019, as amended on January 16, 2021, January 14, 2022, January 13, 2023, January 7, 2024, January 15, 2025 and the Effective Date, and assigned by the Reporting Person to ST, which is wholly owned by the Reporting Person. Accordingly, the Reporting Person may be deemed to have shared voting and investment power over such shares.

Consists of shares of Common Stock owned of record by ST, which is wholly owned by the Reporting Person. Accordingly, the Reporting Person may be deemed to have shared voting and investment power over such shares.

On the Effective Date, the Reporting Person received 240,963 shares of Common Stock of the Issuer as a payment of principal pursuant to a Loan Agreement between the Issuer and the Reporting Person dated January 8, 2019, as amended on January 16, 2021, January 14, 2022, January 13, 2023, January 7, 2024, July 3, 2024 and January 15, 2025 (the "Loan Agreement").

Include 127,141 shares held by the Trung Tri Doan 2010 GRAT, of which Mr. Doan is the sole trustee.

On February 28, 2025 (the "Effective Date"), the Reporting Person received 722,891 shares of Common Stock of the Issuer as a payment of principal pursuant to a Loan Agreement between the Issuer and J.R. Simplot Company, a Nevada corporation ("JRS"), dated January 8, 2019, as amended on January 16, 2021, January 14, 2022, January 13, 2023, January 7, 2024, January 15, 2025 and the Effective Date, and assigned by JRS to the Reporting Person.

On February 28,2025 (the "Effective Date"), Simplot Taiwan Inc., an Idaho corporation ("ST"), received 722,891 shares of Common Stock of the Issuer as a payment of principal pursuant to a Loan Agreement between the Issuer and J.R. Simplot Company, a Nevada corporation ("JRS"), dated January 8, 2019, as amended on January 16, 2021, January 14, 2022, January 13, 2023, January 7, 2024, January 15, 2025 and the Effective Date (the "Loan Agreement"), and assigned by JRS to ST, which is wholly owned by JRS. Scott R. Simplot (the "Reporting Person") is the chairman of JRS, and accordingly may be deemed to have shared voting and investment power over such shares. The Reporting Person disclaims beneficial ownership over such shares except to the extent of his pecuniary interest therein.

Consists of (i) 3,168,190 shares of Common Stock owned of record by ST and (ii) 31,036 shares of Common Stock owned of record by JRS Properties III LLLP, an Idaho limited liability limited partnership ("JRS Properties"). ST is wholly owned by JRS, and the Reporting Person is the chairman of JRS. Accordingly, the Reporting Person may be deemed to have shared voting and investment power over the shares held by ST. JRS Management L.L.C., an Idaho limited liability company ("JRS Management"), is the sole general partner of JRS Properties. The Reporting Person and Stephen A. Beebe are the managers of JRS Management, and accordingly the Reporting Person may be deemed to have shared voting and investment power over the shares held by JRS Properties. The Reporting Person disclaims beneficial ownership over the shares reported herein except to the extent of his pecuniary interest therein.

1. These shares represent restricted stock units and will be settled in LEDS common stock upon vesting, 25% of the restricted stock units will vest on February 27, 2025, May 27, 2025, August 27, 2025 and November 27, 2025, as long as the Reporting Person's continuous services through the applicable vesting date. In the event that the 2025 annual meeting of stockholders falls before November 27, 2025, 100% of the stock units shall immediately vest on the date of the 2025 annual meeting of stockholders.

1. These shares represent restricted stock units and will be settled in LEDS common stock upon vesting, 25% of the restricted stock units will vest on February 27, 2025, May 27, 2025, August 27, 2025 and November 27, 2025, as long as the Reporting Person's continuous services through the applicable vesting date. In the event that the 2025 annual meeting of stockholders falls before November 27, 2025, 100% of the stock units shall immediately vest on the date of the 2025 annual meeting of stockholders.

1. Include 127,141 shares held by the Trung Tri Doan 2010 GRAT, of which Mr. Doan is the sole trustee.

On February 20, 2020, J.R. Simplot Company, a Nevada corporation (the "Reporting Person"), assigned a Convertible Unsecured Promissory Note initially issued to the Reporting Person by the Issuer in the original principal amount of $1,500,00 (the "Note") for no consideration to Simplot Taiwan Inc., an Idaho corporation ("ST"). The Note is convertible into Common Stock of the Issuer at any time at a conversion price of $1.31. On January 8, 2024 (the "Effective Date"), ST converted $1,375,529 of the Note, which amount represents $1,200,000 of principal and $175,529 of interest, into 1,050,022 shares of Common Stock of the Issuer.

The Note has no expiration date. As a result of the transaction reported herein, all amounts due and payable under the Note have been satisfied in full.

Consists of shares of Common Stock owned of record by ST, which is wholly owned by the Reporting Person. Accordingly, the Reporting Person may be deemed to have shared voting and investment power over such shares.

These shares were issued pursuant to the conversion of a Convertible Unsecured Promissory Note assigned to Simplot Taiwan Inc., an Idaho corporation (the "Reporting Person"), on February 20, 2020 by its sole owner, J.R. Simplot Company, a Nevada corporation ("JRS"), in the original principal amount of $1,500,00 (the "Note") for no consideration. The Note is convertible into Common Stock of the Issuer at any time at a conversion price of $1.31. On January 8, 2024 (the "Effective Date"), the Reporting Person converted an aggregate amount of $1,375,529 under the Note, which amount represents $1,200,000 of principal and $175,529 of interest, into 1,050,022 shares of Common Stock of the Issuer.

The Note has no expiration date. As a result of the transaction reported herein, all amounts due and payable under the Note have been satisfied in full.

On the Effective Date, the Reporting Person received 305,343 shares of Common Stock of the Issuer as a payment of interest pursuant to a Loan Agreement between the Issuer and JRS dated January 8, 2019, as amended on January 16, 2021, January 14, 2022, January 13, 2023 and January 7, 2024, and assigned by JRS to the Reporting Person.

Include 127,141 shares held by the Trung Tri Doan 2010 GRAT, of which Mr. Doan is the sole trustee.

On February 20, 2020, J.R. Simplot Company, a Nevada corporation (the "Reporting Person"), assigned a Convertible Unsecured Promissory Note initially issued to the Reporting Person by the Issuer in the original principal amount of $1,500,00 (the "Note") for no consideration to Simplot Taiwan Inc., an Idaho corporation ("ST"). The Note is convertible into Common Stock of the Issuer at any time at a conversion price of $1.31. On January 8, 2024 (the "Effective Date"), ST converted $1,375,529 of the Note, which amount represents $1,200,000 of principal and $175,529 of interest, into 1,050,022 shares of Common Stock of the Issuer.

Consists of shares of Common Stock owned of record by ST, which is wholly owned by the Reporting Person. Accordingly, the Reporting Person may be deemed to have shared voting and investment power over such shares.

On the Effective Date, ST received 305,343 shares of Common Stock of the Issuer as a payment of interest pursuant to a Loan Agreement between the Issuer and the Reporting Person dated January 8, 2019, as amended on January 16, 2021, January 14, 2022, January 13, 2023 and January 7, 2024 (the "Loan Agreement"), and assigned by the Reporting Person to ST, which is wholly owned by the Reporting Person. Accordingly, the Reporting Person may be deemed to have shared voting and investment power over such shares.

Consists of the number of shares issued to ST on the Effective Date representing the payment of interest under the Loan Agreement described above.

On the Effective Date, ST received 305,343 shares of Common Stock of the Issuer as a payment of interest pursuant to a Loan Agreement between the Issuer and JRS dated January 8, 2019, as amended on January 16, 2021, January 14, 2022, January 13, 2023 and January 7, 2024 (the "Loan Agreement"), and assigned by JRS to ST. The Reporting Person is the chairman of JRS, and accordingly may be deemed to have shared voting and investment power over such shares. The Reporting Person disclaims beneficial ownership over such shares except to the extent of his pecuniary interest therein.

Consists of the number of shares issued to ST on the Effective Date representing the payment of interest under the Loan Agreement described above.

On February 20, 2020, J.R. Simplot Company, a Nevada corporation ("JRS"), assigned a Convertible Unsecured Promissory Note initially issued to JRS by the Issuer in the original principal amount of $1,500,00 (the "Note") for no consideration to Simplot Taiwan Inc., an Idaho corporation ("ST"). The Note is convertible into Common Stock of the Issuer at any time at a conversion price of $1.31. On January 8, 2024 (the "Effective Date"), ST converted $1,375,529 of the Note, which amount represents $1,200,000 of principal and $175,529 of interest, into 1,050,022 shares of Common Stock of the Issuer.

Consists of (i) 2,139,957 shares of Common Stock owned of record by ST and (ii) 31,036 shares of Common Stock owned of record by JRS Properties III LLLP, an Idaho limited liability limited partnership ("JRS Properties"). ST is wholly owned by JRS, and Scott R. Simplot (the "Reporting Person") is the chairman of JRS. Accordingly, the Reporting Person may be deemed to have shared voting and investment power over the shares held by ST. JRS Management L.L.C., an Idaho limited liability company ("JRS Management"), is the sole general partner of JRS Properties. The Reporting Person and Stephen A. Beebe are the managers of JRS Management, and accordingly the Reporting Person may be deemed to have shared voting and investment power over the shares held by JRS Properties. The Reporting Person disclaims beneficial ownership over the shares reported herein except to the extent of his pecuniary interest therein.

These shares were issued pursuant to the conversion of a Convertible Unsecured Promissory Note assigned to Simplot Taiwan Inc., an Idaho corporation (the "Reporting Person"), on February 20, 2020 by its sole owner, J.R. Simplot Company, a Nevada corporation ("JRS"), in the original principal amount of $1,500,00 (the "Note") for no consideration. The Note is convertible into Common Stock of the Issuer at any time at a conversion price of $1.31. On January 8, 2024 (the "Effective Date"), the Reporting Person converted an aggregate amount of $1,375,529 under the Note, which amount represents $1,200,000 of principal and $175,529 of interest, into 1,050,022 shares of Common Stock of the Issuer.

On February 20, 2020, J.R. Simplot Company, a Nevada corporation ("JRS"), assigned a Convertible Unsecured Promissory Note initially issued to JRS by the Issuer in the original principal amount of $1,500,00 (the "Note") for no consideration to Simplot Taiwan Inc., an Idaho corporation ("ST"). The Note is convertible into Common Stock of the Issuer at any time at a conversion price of $1.31. On January 8, 2024 (the "Effective Date"), ST converted $1,375,529 of the Note, which amount represents $1,200,000 of principal and $175,529 of interest, into 1,050,022 shares of Common Stock of the Issuer.

The Note has no expiration date. As a result of the transaction reported herein, all amounts due and payable under the Note have been satisfied in full.

Consists of (i) 2,139,957 shares of Common Stock owned of record by ST and (ii) 31,036 shares of Common Stock owned of record by JRS Properties III LLLP, an Idaho limited liability limited partnership ("JRS Properties"). ST is wholly owned by JRS, and Scott R. Simplot (the "Reporting Person") is the chairman of JRS. Accordingly, the Reporting Person may be deemed to have shared voting and investment power over the shares held by ST. JRS Management L.L.C., an Idaho limited liability company ("JRS Management"), is the sole general partner of JRS Properties. The Reporting Person and Stephen A. Beebe are the managers of JRS Management, and accordingly the Reporting Person may be deemed to have shared voting and investment power over the shares held by JRS Properties. The Reporting Person disclaims beneficial ownership over the shares reported herein except to the extent of his pecuniary interest therein.

These shares represent restricted stock units and will be settled in LEDS common stock upon vesting, 25% of the restricted stock units will vest on October 7, 2023, January 7, 2024, April 7, 2024 and July 7, 2024, as long as the Reporting Person's continuous services through the applicable vesting date. In the event that the 2024 annual meeting of stockholders falls before July 7, 2024, 100% of the stock units shall immediately vest on the date of the 2024 annual meeting of stockholders.

These shares represent restricted stock units and will be settled in LEDS common stock upon vesting, 25% of the restricted stock units will vest on October 7, 2023, January 7, 2024, April 7, 2024 and July 7, 2024, as long as the Reporting Person's continuous services through the applicable vesting date. In the event that the 2024 annual meeting of stockholders falls before July 7, 2024, 100% of the stock units shall immediately vest on the date of the 2024 annual meeting of stockholders.

These shares represent restricted stock units and will be settled in LEDS common stock upon vesting, 12.5% of the restricted stock units will vest every three months starting from the vesting commencement date of April 25, 2023, so long as the Reporting Person's continuous service through the applicable vesting date. These restricted stock units will become fully vested upon a change of control.

Reflects one-for-ten reverse stock split on April 15th, 2016.

These shares represent restricted stock units and will be settled in LEDS common stock upon vesting, 25% of the restricted stock units will vest on February 7, 2023, May 7, 2023, August 7, 2023 and November 7, 2023, as long as the Reporting Person's continuous services through the applicable vesting date. In the event that the 2023 annual meeting of stockholders falls before November 7, 2023, 100% of the stock units shall immediately vest on the date of the 2023 annual meeting of stockholders.

These shares represent restricted stock units and will be settled in LEDS common stock upon vesting, 25% of the restricted stock unit will vest on February 7, 2023, May 7, 2023, August 7, 2023 and November 7, 2023, as long as the Reporting Person's continuous services through the applicable vesting date. In the event that the 2023 annual meeting of stockholders falls before November 7, 2023, 100% of the stock units shall immediately vest on the date of the 2023 annual meeting of stockholders.

These shares represent restricted stock units and will be settled in LEDS common stock upon vesting, 25% of the restricted stock units will vest on February 7, 2023, May 7, 2023, August 7, 2023 amd November 7, 2023, as long as the Reporting Person's continuous services through the applicable vesting date. In the event that the 2023 annual meeting of stockholders falls before November 7, 2023, 100% of the stock units shall immediately vest on the date of the 2023 annual meeting of stockholders.

These shares represent restricted stock units and will be settled in LEDS common stock upon vesting, 25% of the restricted stock units will vest on February 12, 2022, May 12, 2022, August 12, 2022 and November 12, 2022, so long as the Reporting Person's continuous service through the applicable vesting date. In the event that the 2022 annual meeting of stockholders falls before November 12, 2022, 100% of the stock units shall immediately vest on the date of the 2022 annual meeting of stockholders.

These shares represent restricted stock units and will be settled in LEDS common stock upon vesting, 12.5% of the restricted stock units will vest every three months starting from the vesting commencement date of November 12, 2021, so long as the Reporting Person's continuous service through the applicable vesting date. These restricted stock units will become fully vested upon a change of control.

Reflects one-for-ten reverse stock split on April 15th, 2016.

These shares represent restricted stock units and will be settled in LEDS common stock upon vesting, 25% of the restricted stock units will vest on February 12, 2022, May 12, 2022, August 12, 2022 and November 12, 2022, so long as the Reporting Person's continuous service through the applicable vesting date. In the event that the 2022 annual meeting of stockholders falls before November 12, 2022, 100% of the stock units shall immediately vest on the date of the 2022 annual meeting of stockholders.

These shares represent restricted stock units and will be settled in LEDS common stock upon vesting, 25% of the restricted stock units will best on February 12, 2022, May 12, 2022, August 12, 2022 and November 12, 2022, so long as the Reporting Person's continuous service through the applicable vesting date. In the event that the 2022 annual meeting of stockholders falls before November 12, 2022, 100% of the stock units shall immediately vest on the date of the 2022 annual meeting of stockholders.

These shares represented stock units and will be settled in LEDS stock upon vesting. 25% of the restricted stock units will vest on Feb 12, 2021, May 12, 2021, Aug 12, 2021 and Nov 12, 2021, so long as the Reporting Person's continuous service through the applicable vesting date. In the event that the 2021 annual meeting falls before Nov 12, 2021, 100% of the stock units shall immediately vest on the date of the 2021 annual meeting. Vested Shares will be delivered to the reporting person within the first open trading window following the vesting date, but in no event later than the 15th day of the 3rd month following the end of the Company's tax year that includes the vesting date.

These shares represented stock units and will be settled in LEDs Stock upon vesting. 25% of the restricted stock units will vest on Feb 12, 2021, May 12, 2021, Aug 12,2021 and Nov 12, 2021, so long as the Reporting Person's continuous service through the applicable vesting date. In the event that the 2021 annual meeting falls before Nov 12, 2021, 100% of the stock units shall immediately vest on the date of the 2021 annual meeting. Vested shares will be delivered to the reporting person within the first open trading window following the vesting date, but in no event later than the 15th day of the 3rd month following the end of the Company's tax year that includes the vesting date.

These shares represented stock units and will be settled in LEDs stock upon vesting, 25% of the restricted stock units will vest on Feb 12, 2021, May 12, 2021, Aug 12, 2021 and Nov 12, 2021 and will become fully vested upon a change in control. Vested shares will be delivered to the reporting person within the first open trading window flowing the vesting date, but in no event later than the 15th day of the 3rd month following the end of the Company's tax year that includes the vesting date.

Reflects one-for-ten reverse stock split on April 15th, 2016.

These shares represented stock units and will be settled in LEDS stock upon vesting, 25% of the restricted stock units will vest on Feb 12, 2021, May 12, 2021, Aug 12, 2021 and Nov 12, 2021, so long as the Reporting Person's continuous service through the applicable vesting date. In the event that the 2021 annual meeting falls before Nov 12, 2021, 100% of the stock units shall immediately vest on the date of the 2021 annual meeting. Vested shares will be delivered to the person within the first open trading window following the vesting date, but in no event later than the 15th day of the 3rd following the end of the Company's tax year that includes the vesting date.

Consists of shares of Common Stock owned of record by Simplot Taiwan Inc., an Idaho corporation. Simplot Taiwan Inc. is wholly owned by J.R. Simplot Company, a Nevada corporation. Mr. Simplot is the chairman of J.R. Simplot Company, and so may be deemed to have shared voting and investment power over such shares. Mr. Simplot disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.

The Note has no expiration date.

Consists of 31,036 shares of Common Stock owned of record by JRS Properties III LLLP, an Idaho limited liability limited partnership. The sole general partner of JRS Properties III LLLP is JRS Management, L.L.C., an Idaho limited liability company. Mr. Simplot and Stephen A. Beebe are the managers of JRS Management, L.L.C., and so Mr. Simplot may be deemed to have shared voting and investment power over such shares. Mr. Simplot disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.

Consists of the number of shares into which the remaining principal balance of the Note is convertible following the conversion described above. The Note is convertible into Common Stock at any time at a conversion price of $3.00 per share. Mr. Simplot is the chairman of J.R. Simplot Company, and so may be deemed to have shared voting and investment power over the shares into which such Note is convertible. Mr. Simplot disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.

On February 7, 2020, J.R. Simplot Company, the sole owner of Simplot Taiwan Inc., assigned a Convertible Unsecured Promissory Note initially issued to J.R. Simplot Company in the original principal amount of $1,500,000 (the "Note"), to Simplot Taiwan Inc. for no consideration. The Note is convertible into Common Stock at any time at a conversion price of $3.00 per share. On May 26, 2020, Simplot Taiwan Inc. converted $300,000 of the Note into 100,000 shares of Common Stock. Previously, Simplot Taiwan Inc. had included the 500,000 shares into which the Note was convertible in its total shares of Common Stock owned directly, as such shares could be acquired within 60 days, along with 989,934 shares of Common Stock owned of record. As of this filing, the shares owned directly consists of 1,089,934 shares of Common Stock owned of record and 400,000 shares of Common Stock into which the Note is convertible.

The Note has no expiration date.

Consists of the number of shares into which the remaining principal balance of the Note is convertible following the conversion described above. Accordingly, J Simplot Taiwan Inc. may be deemed to have voting and investment power over the shares into which such Note is convertible.

On February 7, 2020, J.R. Simplot Company, the sole owner of Simplot Taiwan Inc., assigned a Convertible Unsecured Promissory Note initially issued to J.R. Simplot Company in the original principal amount of $1,500,000 (the "Note"), to Simplot Taiwan Inc. for no consideration. The Note is convertible into Common Stock at any time at a conversion price of $3.00 per share. On May 26, 2020, Simplot Taiwan Inc. converted $300,000 of the Note into 100,000 shares of Common Stock.

Consists of shares of Common Stock owned of record by Simplot Taiwan Inc., an Idaho corporation. Simplot Taiwan Inc. is wholly owned by J.R. Simplot Company, a Nevada corporation. Mr. Simplot is the chairman of J.R. Simplot Company, and so may be deemed to have shared voting and investment power over such shares. Mr. Simplot disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.

On February 7, 2020, J.R. Simplot Company, the sole owner of Simplot Taiwan Inc., assigned a Convertible Unsecured Promissory Note initially issued to J.R. Simplot Company in the original principal amount of $1,500,000 (the "Note"), to Simplot Taiwan Inc. for no consideration. The Note is convertible into Common Stock at any time at a conversion price of $3.00 per share. On May 26, 2020, Simplot Taiwan Inc. converted $300,000 of the Note into 100,000 shares of Common Stock.

Consists of shares of Common Stock owned of record by Simplot Taiwan Inc., an Idaho corporation. Simplot Taiwan Inc. is wholly owned by J.R. Simplot Company, a Nevada corporation. Accordingly, J.R. Simplot Company may be deemed to have shared voting and investment power over such shares.

On February 7, 2020, J.R. Simplot Company, the sole owner of Simplot Taiwan Inc., assigned a Convertible Unsecured Promissory Note initially issued to J.R. Simplot Company in the original principal amount of $1,500,000 (the "Note"), to Simplot Taiwan Inc. for no consideration. The Note is convertible into Common Stock at any time at a conversion price of $3.00 per share. On May 26, 2020, Simplot Taiwan Inc. converted $300,000 of the Note into 100,000 shares of Common Stock.

Consists of the number of shares into which the remaining principal balance of the Note is convertible following the conversion described above. The Note is convertible into Common Stock at any time at a conversion price of $3.00 per share. Accordingly, J.R. Simplot Company may be deemed to have voting and investment power over the shares into which such note is convertible.

On February 7, 2020, J.R. Simplot Company, the sole owner of Simplot Taiwan Inc., assigned a Convertible Unsecured Promissory Note initially issued to J.R. Simplot Company in the original principal amount of $1,500,000 (the "Note"), to Simplot Taiwan Inc. for no consideration. The Note is convertible into Common Stock at any time at a conversion price of $3.00 per share. On May 26, 2020, Simplot Taiwan Inc. converted $300,000 of the Note into 100,000 shares of Common Stock.

Consists of the number of shares into which the remaining principal balance of the Note is convertible following the conversion described above. The Note is convertible into Common Stock at any time at a conversion price of $3.00 per share. Mr. Simplot is the chairman of J.R. Simplot Company, and so may be deemed to have shared voting and investment power over the shares into which such Note is convertible. Mr. Simplot disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.

Consists of shares of Common Stock owned of record by Simplot Taiwan Inc., an Idaho corporation. Simplot Taiwan Inc. is wholly owned by J.R. Simplot Company, a Nevada corporation. Accordingly, J.R. Simplot Company may be deemed to have shared voting and investment power over such shares.

The Note has no expiration date.

Consists of the number of shares into which the remaining principal balance of the Note is convertible following the conversion described above. The Note is convertible into Common Stock at any time at a conversion price of $3.00 per share. Accordingly, J.R. Simplot Company may be deemed to have voting and investment power over the shares into which such note is convertible.

On December 10, 2019, the Company issued a convertible unsecured promissory note (the "Note") to the Reporting Person (the "Holder"), with a principal sum of $500,000.00 and an annual interest rate of 3.5%. The outstanding principal and unpaid accrued interest of the Note may be converted into the Company's Common Stock based on a conversion price of $3 dollars per share, at the option of the Holder any time from the date of the Note.

Include 127,141 shares held by the Trung Tri Doan 2010 GRAT, of which Mr. Doan is the sole trustee.

On February 7, 2020, J.R. Simplot Company assigned the Convertible Unsecured Promissory Note to Simplot Taiwan Inc. for no consideration. Mr. Simplot is the chairman of J.R. Simplot Company, the sole owner of Simplot Taiwan Inc., and so may be deemed to have shared voting and investment power over the shares into which such Note is convertible. Mr. Simplot disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.

Consists of a Convertible Unsecured Promissory Note initially issued to J.R. Simplot Company in the principal amount of $1,500,000. The Note is convertible into Common Stock at any time at a conversion price of $3.00 per share. Mr. Simplot is the chairman of J.R. Simplot Company, and so may be deemed to have shared voting and investment power over the shares into which such Note is convertible. Mr. Simplot disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.

The Note has no expiration date.

On February 7, 2020, J.R. Simplot Company assigned the Convertible Unsecured Promissory Note to Simplot Taiwan Inc. for no consideration. Mr. Simplot is the chairman of J.R. Simplot Company, the sole owner of Simplot Taiwan Inc., and so may be deemed to have shared voting and investment power over the shares into which such Note is convertible. Mr. Simplot disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.

Consists of a Convertible Unsecured Promissory Note initially issued to J.R. Simplot Company in the principal amount of $1,500,000. The Note is convertible into Common Stock at any time at a conversion price of $3.00 per share. Mr. Simplot is the chairman of J.R. Simplot Company, and so may be deemed to have shared voting and investment power over the shares into which such Note is convertible. Mr. Simplot disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.

The Note has no expiration date.