Smith Micro Software cuts executive salaries and director fees by 10% until profitability

SMITH MICRO SOFTWARE, INC.

10% reduction in base salaries for executive team including CEO, CFO, and named executive officers effective March 14, 2023.
Quarterly fees for non-employee directors also reduced by 10% immediately.
Salaries and director compensation to be restored once company achieves non-GAAP profitability including restored amounts.
Cost reduction is part of ongoing review of Smith Micro's cost structure.

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