On June 16, 2020, Amir Poshinski was appointed as a Class III director to the board of directors of Galmed Pharmaceuticals Ltd. (the Company). Mr. Poshinski was additionally appointed to serve on the Company's audit committee, compensation committee and nominating committee. Amir Poshinski is an entrepreneur with over 20 years' management and leadership experience across multiple industries, including technology, biotechnology, banking and real estate. Mr. Poshinski is the owner of DAP Holdings where since 2010 he acts as a management consultant and strategic advisor to global companies. Mr. Poshinski currently serves on the board of Benson Oak Ventures, a venture focused fund, as well as several other private companies. Prior to 2010, Mr. Poshinski served as Deputy CEO of Primsa Investment House, which at the time was Israel's largest investment house, Deputy CEO of Discount Mortgage Bank, the real estate lending arm of one of Israel's largest banks, VP of Marketing of Comverse, a telecommunications software company that was listed on Nasdaq, VP Marketing, Sales and Advertising of Mifal Hapayis, Israel's national lottery, and VP and Deputy CEO of the Economic Company of the Local Authority.