PHUN · Phunware, Inc.

This filing documents the second formal extension of Jeremy Krol’s tenure as Interim CEO, now scheduled through May 15, 2026. The amendment follows an earlier extension to April 15, 2026 (Amendment No. 1, effective January 14, 2026), indicating sustained board reliance on interim leadership beyond the original six-month term established in July 2025. While the filing confirms continuity in executive oversight, it omits any indication of progress toward appointing a permanent CEO — a notable absence given the prolonged interim status. The narrow scope of Amendment No. 2 — modifying only the term end date in Section 1.2 — signals no change to compensation, duties, termination conditions, or severance terms previously disclosed in the original agreement. The explicit choice of Texas law and robust successor clause suggest deliberate structuring for enforceability and continuity in potential acquisition scenarios. For investors, this represents operational stability in the short term but raises questions about long-term leadership strategy and governance transparency, particularly absent disclosure of board deliberations or timelines for permanent appointment.