Quantum Appoints James C. Clancy as Chief Operating Officer

Quantum Corporation (Nasdaq: QMCO) announced on September 28, 2026, the appointment of James C. Clancy as the company's Chief Operating Officer, effective immediately. In connection with this appointment, Mr. Clancy voluntarily resigned from his position as a member of the Company’s Board of Directors and from the Audit Committee and Corporate Governance and Nominating Committee.

Mr. Clancy, age 59, joins Quantum from a role as a business advisor to technology companies, including HYCU, Black Kite, Index Engines, and Nexus Advisory Partners, which he held since December 2024. Prior to his advisory career, he served as Senior Vice President, Global Sales, Data Protection Solutions at Dell Technologies Inc. from 2019 until December 2024. Earlier in his career, he held various leadership positions at Dell, including President of Global Specialties Sales and Senior Vice President of Global Sales for Dell EMC’s Data Protection Solutions. He also served in senior roles at EMC Corporation (later acquired by Dell) from 1998 to 2013.

Mr. Clancy entered into an offer letter with Quantum providing for an annual base salary of $400,000. He is also eligible for a bonus with a target equal to 60% of his base salary. Additionally, he will receive a grant of 150,000 restricted stock units (RSUs) and an option to purchase 400,000 shares of common stock. The RSUs are scheduled to vest in three equal installments on each anniversary of the grant date, and the options are scheduled to vest in 48 equal monthly installments beginning one month after the grant date. These grants are expected to be effective on or around October 1, 2026.

Mr. Clancy has also entered into a standard form of change of control agreement. Under this agreement, if a change of control occurs and Mr. Clancy is involuntarily terminated during a specific period following the event, he is entitled to a lump sum cash payment equal to 12 months of his base salary plus 100% of his target annual bonus, accelerated vesting of outstanding equity awards, and a lump sum payment for 12 months of COBRA premiums. If he is involuntarily terminated outside of this period, he is entitled to six months of base salary and six months of COBRA coverage.