Note 13 - Subsequent Events

Effective November 8, 2021, Enzo appointed Hamid Erfanian as Chief Executive Officer. Mr. Erfanian brings over 28 years of experience as a healthcare executive specializing in the diagnostic, medical devices, and life sciences industry. On November 8, 2021, Enzo granted equity awards to Hamid Erfanian. Consistent with the disclosures contained in the Company’s Form 8-K filed with the U.S. Securities and Exchange Commission on October 18, 2021, the Company agreed to grant these equity awards to induce Mr. Erfanian to commence employment as its chief executive officer. These equity awards were made in reliance on the employment inducement exemption under the New York Stock Exchange’s Listed Company Manual Rule 303A.08, which requires that the Compensation Committee of the Board of Directors approve the inducement awards, which approval was obtained on October 29, 2021, and that the Company make a public announcement of the grant of the inducement awards. The approved equity awards are restricted stock units (RSUs) for 260,000 shares of the common stock of the Company and options to purchase 700,000 shares of common stock of the Company. The RSUs and options are scheduled to vest over three years, with one-third of the units vesting on each of the first three anniversaries of the grant date, subject to certain requirements, including Mr. Erfanian’s continued service as an employee of the Company through the applicable vesting dates. The exercise price of the options is $3.39, the closing price of the Company’s common stock on November 8, 2021, the grant date. The equity awards were granted outside of the Company’s Amended and Restated 2011 Incentive Plan but generally have terms and conditions consistent with those set forth in that plan. The Company filed a Form S-8 covering these equity awards.