Press release

NACD Recognizes Board Director Barry Phelps As Most Influential Corporate Director and Governance Expert

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Luna Innovations Incorporated (NASDAQ: LUNA) today announced that Barry Phelps, a member of its Board of Directors, has been named to the 2021 National Association of Corporate Directors (“NACD”) Directorship 100, which highlights the most influential leaders in corporate governance. Mr. Phelps has served on Luna’s Board of Directors for four years and has extensive experience in financial management roles and executive and Board service experience in technology-related industries.

“On behalf of the Company and my fellow directors, I would like to congratulate Barry on this well-deserved distinction,” commented Richard W. Roedel, Non-Executive Chairman of the Board of Luna Innovations. “Because of Barry’s dedication and professional experience, he is now part of a prestigious list recognizing the most influential corporate directors, corporate-governance experts, policymakers and influencers who have significantly impacted boardroom practices and performance. He is a valuable asset to Luna and our shareholders.”

“This is a merited honor, as Barry’s diligence and stewardship have been instrumental to our Board over the years,” said Luna Innovations President and CEO Scott A. Graeff. “During this unprecedented year full of unexpected challenges, Barry’s guidance has been crucial. He remains objective and unafraid of asking those difficult questions, all while helping to strategically position our Company for success. Barry continues to add insight to all discussions with a focus on corporate governance best practices.”

Graeff continued, “I am truly honored to serve alongside such a distinguished group of Board Directors, two of whom have been named to NACD’s 100 list and another given NACD’s lifetime achievement award. I thank all of Luna’s Directors for their continued inspiration and guidance.”

Peter R. Gleason, NACD president and CEO, said, “This year’s Directorship 100 honorees—each of whom have been nominated by a peer—have demonstrated their individual excellence in governance by serving their organizations and communities during the most challenging of times. They exemplify accomplishment and integrity and inspire others with their dedication to enhancing board leadership.”

Barry and the other honorees will be recognized during the 2021 NACD Directorship Awards Virtual Gala on November 9, 2021. Their profiles will be shared prominently with all 22,000 NACD members as well as with partner organizations and other key governance stakeholders. Honorees will also be highlighted in NACD Directorship magazine’s Annual List of the Most Influential People in Boardrooms and Corporate Governance, appearing in the magazine’s November/December 2021 issue.

To learn more about the NACD Directorship 100 and to view past honorees, visit https://directorship100.nacdonline.org/.

About Luna

Luna Innovations Incorporated (www.lunainc.com) is a leader in optical technology, providing unique capabilities in high-performance, fiber optic-based, test products for the telecommunications industry and distributed fiber optic-based sensing for the aerospace and automotive industries. Luna is organized into two business segments, which work closely together to turn ideas into products: Lightwave and Luna Labs. Luna’s business model is designed to accelerate the process of bringing new and innovative technologies to market.

About NACD

The National Association of Corporate Directors (NACD) empowers more than 22,000 directors to lead with confidence in the boardroom. As the recognized authority on leading boardroom practices, NACD helps boards strengthen investor trust and public confidence by ensuring that today’s directors are well prepared for tomorrow’s challenges. World-class boards join NACD to elevate performance, gain foresight, and instill confidence. Fostering collaboration among directors, investors, and corporate governance stakeholders, NACD has been setting the standard for responsible board leadership for more than 40 years. To learn more about NACD, visit www.nacdonline.org.