Cycurion Appoints New Independent Director J. Derek Penn Amid Board Committee Changes

Cycurion announced significant changes to its Board of Directors' committees effective October 20, 2026. Director Peter R. Ginsberg stepped down from three key committees after it was determined he no longer met independence requirements. To fill the vacancy and the committee roles, the company appointed J. Derek Penn as a new independent director.

Key Details

• Director Resignations: Peter R. Ginsberg stepped down from the Audit, Compensation, and Nominating and Corporate Governance committees due to a loss of independence status. The issue arose from payments made in 2026 to his law firm for legal services. Mr. Ginsberg remains a member of the Board of Directors.
• New Director Appointment: J. Derek Penn was appointed to the Board of Directors and will serve on the Audit, Compensation, and Nominating and Corporate Governance committees.
• Company Response: Cycurion described the matter as an "administrative oversight" and is implementing enhanced procedures for reviewing director independence and related-party transactions.