Signing Day Sports (SGN) Announces Resignation of COO David O’Hara

On March 1, 2024, David O’Hara notified the board of directors (the “Board”) of Signing Day Sports (NYSE: SGN) of his resignation from his position as Chief Operating Officer, effective immediately. Mr. O’Hara’s resignation was not due to any disagreement with the Company on any matter relating to the Company’s operations, policies or practices. Mr. O’Hara also notified the Board that the Executive Employment Agreement, dated November 22, 2023, between Mr. O’Hara and the Company (the “O’Hara Employment Agreement”), was terminated, effective immediately. Pursuant to the O’Hara Employment Agreement, Mr. O’Hara had been employed as the Chief Operating Officer and Secretary of the Company.

Appointment of Principal Operating Officer

On March 4, 2024, the Board approved the appointment of Trent Whitehead, Vice President of Human Resources, as Secretary of the Company and to address principal operating functions of the Company that had been the responsibility of Mr. O’Hara as Chief Operating Officer prior to his resignation as described above.

Under an indemnification agreement between the Company and Mr. Whitehead in the Company’s standard form for officers or directors of the Company, dated March 4, 2024 (the “Whitehead Indemnification Agreement”), the Company agreed to indemnify Mr. Whitehead to the fullest extent permitted by law. The Company shall also advance all expenses relating to any proceeding, other than proceedings by or in the right of the Company or any claim, issue or matter therein, within 30 days after the receipt by the Company of a statement requesting such advance and a written undertaking to repay any expenses advanced if it shall ultimately be determined that indemnification against such expenses is not permitted. Any advances and undertakings to repay shall be unsecured and interest free. The Whitehead Indemnification Agreement also provides for payments by the Company for the entire amount of any judgment or settlement of any action, suit or proceeding in which it is liable or would be liable if joined in such action, subject to the other terms and provisions of the Whitehead Indemnification Agreement, and certain other indemnification and payment obligations. The Whitehead Indemnification Agreement also provides that if the Company maintains a directors’ and officers’ liability insurance policy, that the indemnitee will be covered by the policy to the maximum extent of the coverage available for any of the Company’s directors or executive officers.

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