<SEC-DOCUMENT>0001140361-21-019625.txt : 20210602
<SEC-HEADER>0001140361-21-019625.hdr.sgml : 20210602
<ACCEPTANCE-DATETIME>20210602163029
ACCESSION NUMBER:		0001140361-21-019625
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20210602
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20210602
DATE AS OF CHANGE:		20210602

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TANDY LEATHER FACTORY INC
		CENTRAL INDEX KEY:			0000909724
		STANDARD INDUSTRIAL CLASSIFICATION:	LEATHER & LEATHER PRODUCTS [3100]
		IRS NUMBER:				752543540
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12368
		FILM NUMBER:		21989527

	BUSINESS ADDRESS:	
		STREET 1:		1900 SE LOOP 820
		CITY:			FT WORTH
		STATE:			TX
		ZIP:			76140
		BUSINESS PHONE:		8178723200

	MAIL ADDRESS:	
		STREET 1:		1900 SE LOOP 820
		CITY:			FT WORTH
		STATE:			TX
		ZIP:			76140

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LEATHER FACTORY INC
		DATE OF NAME CHANGE:	19930723
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>brhc10025394_8k.htm
<DESCRIPTION>8-K
<TEXT>
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      <div style="text-align: center; color: rgb(0, 0, 0); font-size: 14pt; font-weight: bold;">UNITED STATES</div>
      <div style="text-align: center; color: rgb(0, 0, 0); font-size: 14pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
      <div style="text-align: center; color: rgb(0, 0, 0); font-size: 12pt; font-weight: bold;">WASHINGTON, D.C. 20549</div>
      <div><br>
      </div>
      <div style="text-align: center; color: rgb(0, 0, 0); font-size: 18pt; font-weight: bold;">Form 8-K</div>
      <div><br>
      </div>
      <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">CURRENT REPORT</div>
      <div><br>
      </div>
      <div style="text-align: center; color: rgb(0, 0, 0);">Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" border="0" id="zcf4180c223444c8998a3e113059ad362" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

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            <td style="width: 50%; vertical-align: top;">
              <div style="text-align: center; color: rgb(0, 0, 0);">Date of report (Date of earliest event reported:)</div>
            </td>
            <td style="width: 50%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0);">June 2, 2021</div>
            </td>
          </tr>

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      <div>
        <div><br>
        </div>
      </div>
      <div style="text-align: center;"><img width="204" height="100" src="image0.jpg"></div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z66f3f9836df24ede9f1fd5baee1f604a" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

          <tr>
            <td style="width: 100%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-size: 24pt;">Tandy Leather Factory, Inc.</div>
            </td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: top;">
              <div style="text-align: center; color: rgb(0, 0, 0);">(Exact Name of Registrant as Specified in Its Charter)</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
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          <tr>
            <td style="width: 100%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0);">Delaware</div>
            </td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: top;">
              <div style="text-align: center; color: rgb(0, 0, 0);">(State or Other Jurisdiction of Incorporation</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
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          <tr>
            <td style="width: 49%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0);">1-12368</div>
            </td>
            <td style="width: 2%; vertical-align: top;">&#160;</td>
            <td style="width: 49%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0);">75-2543540</div>
            </td>
          </tr>
          <tr>
            <td style="width: 49%; vertical-align: top;">
              <div style="text-align: center; color: rgb(0, 0, 0);">(Commission File Number)</div>
            </td>
            <td style="width: 2%; vertical-align: top;">&#160;</td>
            <td style="width: 49%; vertical-align: top;">
              <div style="text-align: center; color: rgb(0, 0, 0);">(IRS Employer Identification Number)</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" border="0" id="zee1bd571473d407fb0d794c2a8a5154d" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

          <tr>
            <td style="width: 49%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0);">1900 Southeast Loop 820, Fort Worth, Texas</div>
            </td>
            <td style="width: 2%; vertical-align: top;">&#160;</td>
            <td style="width: 49%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0);">76140</div>
            </td>
          </tr>
          <tr>
            <td style="width: 49%; vertical-align: top;">
              <div style="text-align: center; color: rgb(0, 0, 0);">(Address of Principal Executive Offices)</div>
            </td>
            <td style="width: 2%; vertical-align: top;">&#160;</td>
            <td style="width: 49%; vertical-align: top;">
              <div style="text-align: center; color: rgb(0, 0, 0);">(Zip Code)</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
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          <tr>
            <td style="width: 100%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0);">(817) 872-3200</div>
            </td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: top;">
              <div style="text-align: center; color: rgb(0, 0, 0);">(Registrant&#8217;s Telephone Number, Including Area Code)</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z77921e0ea90a424fbc8d4bbadbf0836c" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

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            <td style="width: 100%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
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            <td style="width: 100%; vertical-align: top;">
              <div style="text-align: center; color: rgb(0, 0, 0);">(Former Name or Former Address, if Changed Since Last Report)</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="color: rgb(0, 0, 0);">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<u>see </u>General Instruction A.2. below):</div>
      <div><font style="color: rgb(0, 0, 0);"> </font><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z83c796419962432f8cf3638ed52ea70a" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">&#9744;</td>
            <td style="width: auto; vertical-align: top;">
              <div style="color: rgb(0, 0, 0);">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</div>
            </td>
          </tr>

      </table>
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            <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">&#9744;</td>
            <td style="width: auto; vertical-align: top;">
              <div style="color: rgb(0, 0, 0);">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</div>
            </td>
          </tr>

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      <table cellspacing="0" cellpadding="0" id="zd6ce6c00b4a947fda7e8d38dcc29aa6c" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">&#9744;</td>
            <td style="width: auto; vertical-align: top;">
              <div style="color: rgb(0, 0, 0);">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" id="z7c6fb72ed3d346ac9a04f2c4666880a9" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">&#9744;</td>
            <td style="width: auto; vertical-align: top;">
              <div style="color: rgb(0, 0, 0);">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="text-align: center;">Securities registered pursuant to Section 12(b) of the Act:</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" border="0" id="z78ab7e487d5441269ea4408609d8b066" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

          <tr>
            <td style="width: 35%; vertical-align: bottom;">
              <div style="text-align: center; font-weight: bold;">Title of each class</div>
            </td>
            <td style="width: 25%; vertical-align: bottom;">
              <div style="text-align: center; font-weight: bold;">Trading Symbol(s)</div>
            </td>
            <td style="width: 40%; vertical-align: bottom;">
              <div style="text-align: center; font-weight: bold;">Name of each exchange on which registered</div>
            </td>
          </tr>
          <tr>
            <td style="width: 35%; vertical-align: bottom;">
              <div style="text-align: center;">Common Stock, par value $0.0024</div>
            </td>
            <td style="width: 25%; vertical-align: bottom;">
              <div style="text-align: center;">TLFA</div>
            </td>
            <td style="width: 40%; vertical-align: bottom;">
              <div style="text-align: center;">Over-the-counter &#8220;pink sheets&#8221;</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div>Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</div>
      <div> <br>
      </div>
      <div>Emerging growth company&#160; &#9744;</div>
      <div> <br>
      </div>
      <div>If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange
        Act.&#160; &#9744;</div>
      <div><br>
      </div>
      <div>
        <hr align="center" style="border: none; border-bottom: 4px solid black; border-top: 1px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;"> </div>
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          <tr>
            <td style="width: 45pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">Item 2.02.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="color: rgb(0, 0, 0); font-weight: bold;">Results of Operations and Financial Condition</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="color: rgb(0, 0, 0);">Because Tandy Leather Factory, Inc. (the &#8220;Company&#8221;) continues to undergo a financial restatement and is not currently reporting its regular financial results until the restatement has been completed, the Company is
        unable to solicit stockholder votes for its 2021 Annual Meeting by proxy statement.&#160; In connection with the 2021 Annual Meeting, the Company has produced an information statement, including a description of the proposals to be voted upon at the
        2021 Annual Meeting and other Company information that would typically be included in an proxy statement for an annual stockholders meeting.&#160; A copy of the Company&#8217;s meeting notice and information statement is attached as Exhibit 99.1.&#160; <font style="font-weight: bold;">The attached information statement is </font><font style="font-weight: bold; font-style: italic;">not </font><font style="font-weight: bold;">a proxy statement or a solicitation of shareholder votes by proxy.</font></div>
      <div><br>
      </div>
      <div style="color: rgb(0, 0, 0);">The information in this report and the exhibits attached hereto shall not be deemed &#8220;filed&#8221; for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall they be deemed incorporated by reference in any
        filing with the Securities and Exchange Commission under the Securities Exchange Act of 1934 or the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z24a130fd06204d70a91c4688d7d95f99" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 45pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">Item 9.01</td>
            <td style="width: auto; vertical-align: top;">
              <div style="color: rgb(0, 0, 0);"><font style="font-weight: bold;">Financial Statements and Exhibits</font>.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="color: rgb(0, 0, 0);">(d) Exhibits</div>
      <div><br>
      </div>
      <div style="margin-left: 27pt;">
        <table cellspacing="0" cellpadding="0" border="0" id="z914d8208feb045cba04649549ae1aff1" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

            <tr>
              <td style="width: 10%; vertical-align: top;">
                <div style="color: rgb(0, 0, 0); font-weight: bold;"><u>No.</u></div>
              </td>
              <td style="width: 90%; vertical-align: top;">
                <div style="color: rgb(0, 0, 0); font-weight: bold;"><u>Exhibit</u></div>
              </td>
            </tr>
            <tr>
              <td style="width: 10%; vertical-align: top;">
                <div style="color: rgb(0, 0, 0);"><a href="brhc10025394_ex99-1.htm">99.1</a></div>
              </td>
              <td style="width: 90%; vertical-align: top;">
                <div style="color: rgb(0, 0, 0);">Information Statement dated June 2, 2021</div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <div><br>
        </div>
      </div>
      <div style="color: rgb(0, 0, 0); font-weight: bold;">Forward Looking Statements<a name="T1"></a></div>
      <div><br>
      </div>
      <div><a name="S176652953"></a>Certain statements contained in this report and other materials the Company files with the SEC, as well as information included in oral statements or other written statements made or to be made by the Company, other than
        statements of historical fact, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally are
        accompanied by words such as &#8220;may,&#8221; &#8220;will,&#8221; &#8220;could,&#8221; &#8220;should,&#8221; &#8220;anticipate,&#8221; &#8220;believe,&#8221; &#8220;budgeted,&#8221; &#8220;expect,&#8221; &#8220;intend,&#8221; &#8220;plan,&#8221; &#8220;project,&#8221; &#8220;potential,&#8221; &#8220;estimate,&#8221; &#8220;continue,&#8221; &#8220;outlook,&#8221; &#8220;forecast&#8221; or &#8220;future,&#8221; variations thereof or other similar
        statements. Please refer to the Company&#8217;s Annual Report on Form 10-K for the fiscal year ended December 31, 2018 for additional information concerning these and other uncertainties that could negatively impact the Company. The Company assumes no
        obligation to update or otherwise revise its forward-looking statements, except as required by law.</div>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">SIGNATURES</div>
      <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;"> <br>
      </div>
      <div style="text-indent: 36pt; color: rgb(0, 0, 0);">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" border="0" id="zbe36e5e9301b4e8ea539305088976612" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="vertical-align: top;" colspan="2">
              <div style="color: rgb(0, 0, 0); font-weight: bold;">TANDY LEATHER FACTORY, INC.</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="vertical-align: top;" colspan="2">&#160;</td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">
              <div style="color: rgb(0, 0, 0);">Date:&#160; June 2, 2021</div>
            </td>
            <td style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" rowspan="1" colspan="2">
              <div style="color: rgb(0, 0, 0);">By: /s/ Janet Carr</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 3%; vertical-align: top;">&#160;</td>
            <td style="width: 47%; vertical-align: top;">
              <div style="color: rgb(0, 0, 0);">Janet Carr, Chief Executive Officer</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div><br>
      </div>
      <div>
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"> </div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>brhc10025394_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Broadridge Financial Solutions, Inc.
         Document created using EDGARfilings PROfile 7.5.0.0
         Copyright 1995 - 2021 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000;">
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    <div style="text-align: right;"> <font style="font-weight: bold;">Exhibit 99.1</font><br>
    </div>
    <div> <br>
    </div>
    <div>
      <div style="text-align: center;"><a name="z_Hlk73504554"></a><img width="204" height="100" src="image0.jpg"></div>
      <div style="text-align: center; font-weight: bold;">TANDY LEATHER FACTORY, INC.</div>
      <div style="text-align: center; font-weight: bold;">1900 Southeast Loop 820</div>
      <div style="text-align: center; font-weight: bold;">Fort Worth, Texas&#160; 76140-1003</div>
      <div><br>
      </div>
      <div style="text-align: center; font-weight: bold;">NOTICE OF ANNUAL MEETING OF STOCKHOLDERS</div>
      <div><br>
      </div>
      <div style="text-align: justify;">Dear Tandy Leather Factory, Inc. Stockholder:</div>
      <div><br>
      </div>
      <div style="text-align: justify;">On Thursday, July 1, 2021, Tandy Leather Factory, Inc. will hold <font style="color: rgb(0, 0, 0);">our 2021 </font>Annual Meeting of Stockholders at the Tandy retail store #4, adjacent to its principal office in
        Fort Worth, Texas (address shown above).&#160; These meeting will begin at 11:00 a.m. local time.</div>
      <div><br>
      </div>
      <div style="text-align: justify;">Only stockholders who owned common stock at the close of business on May 20, 2021 may vote at the Annual Meeting or any adjournments that may take place.&#160; At the Annual Meeting, we will consider:</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za5f1eac9a85341f688a19159b6621f64">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top;"><a name="z_Hlk509827516"></a>(1)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>The election of an eight-member Board of Directors for a one-year term;</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z99d2bced63a143d2ae3f3f4608dee066">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top;">(2)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>An advisory vote on executive compensation as disclosed in these materials; and</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z828e4fc3793f4158877182b481409115">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top;">(3)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>Any other business properly presented at the meeting.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="text-align: justify; color: rgb(0, 0, 0);">Our company is undertaking a restatement of prior financial statements and is not currently reporting our regular financial results until the restatement has been completed.&#160; For this reason, we
        are unable to solicit votes for the Annual Meeting by proxy statement.&#160; <font style="font-weight: bold;">The attached information statement is </font><font style="font-weight: bold; font-style: italic;">not </font><font style="font-weight: bold;">a proxy statement or a solicitation of shareholder votes by proxy.</font>&#160; We believe that we will have sufficient shares of stock represented in order for the Annual Meeting to be held; in the event there are not sufficient shares in
        attendance during the virtual meeting, the Annual Meeting would be postponed to a later date.</div>
      <div><br>
      </div>
      <div style="text-align: justify; color: rgb(0, 0, 0);">Our Board of Directors recommends that you vote in favor of Proposals 1 and 2.&#160; Our information statement also outlines certain of our corporate governance practices and discusses our
        compensation philosophy and practices.&#160; Your vote is important.&#160; We encourage you to read these materials carefully and, if possible, to attend the Annual Meeting to vote on these proposals.</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 4.5pt;">Please advise our transfer agent, Broadridge Corporate Issuer Solutions, 1155 Long Island Avenue, Edgewood, NY&#160; 11717, of any change in your address, for future mailings.</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="ze92847198dbe4d219ca8a4200265b0b8">

          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">
              <div>By Order of the Board of Directors,</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">
              <div style="font-style: italic;">Daniel J. Ross</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">
              <div style="font-style: italic;">General Counsel and Secretary</div>
            </td>
          </tr>

      </table>
      <div> <br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div style="page-break-after:always;" id="DSPFPageBreak">
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      </div>
      <div style="text-align: center; font-weight: bold;">TABLE OF CONTENTS</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="zf7850b91a71f4509a726ef5bf2cfab0f">

          <tr>
            <td style="width: 90.84%; vertical-align: top;">&#160;</td>
            <td style="width: 9.16%; vertical-align: top;">
              <div style="text-align: center; font-weight: bold;"><u>Page</u></div>
            </td>
          </tr>
          <tr>
            <td style="width: 90.84%; vertical-align: top;">&#160;</td>
            <td style="width: 9.16%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 90.84%; vertical-align: top;">
              <div>General Information about the Annual Meeting and Voting</div>
            </td>
            <td style="width: 9.16%; vertical-align: top;">
              <div style="text-align: center;">1</div>
            </td>
          </tr>
          <tr>
            <td style="width: 90.84%; vertical-align: top;">
              <div>Security Ownership of Certain Beneficial Owners and Management</div>
            </td>
            <td style="width: 9.16%; vertical-align: top;">
              <div style="text-align: center;">3</div>
            </td>
          </tr>
          <tr>
            <td style="width: 90.84%; vertical-align: top;">
              <div>PROPOSAL ONE:&#160; Election of Directors</div>
            </td>
            <td style="width: 9.16%; vertical-align: top;">
              <div style="text-align: center;">4</div>
            </td>
          </tr>
          <tr>
            <td style="width: 90.84%; vertical-align: top;">
              <div>General Information About our Board of Directors</div>
            </td>
            <td style="width: 9.16%; vertical-align: top;">
              <div style="text-align: center;">4<br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 90.84%; vertical-align: top;">
              <div>Additional Information Concerning our Board of Directors</div>
            </td>
            <td style="width: 9.16%; vertical-align: top;">
              <div style="text-align: center;">6<br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 90.84%; vertical-align: top;">
              <div>Director Compensation Table</div>
            </td>
            <td style="width: 9.16%; vertical-align: top;">
              <div style="text-align: center;">7</div>
            </td>
          </tr>
          <tr>
            <td style="width: 90.84%; vertical-align: top;">
              <div>Committees of the Board of Directors</div>
            </td>
            <td style="width: 9.16%; vertical-align: top;">
              <div style="text-align: center;">7</div>
            </td>
          </tr>
          <tr>
            <td style="width: 90.84%; vertical-align: top;">
              <div style="margin-left: 9pt;">Nominating Committee</div>
            </td>
            <td style="width: 9.16%; vertical-align: top;">
              <div style="text-align: center;">7</div>
            </td>
          </tr>
          <tr>
            <td style="width: 90.84%; vertical-align: top;">
              <div style="margin-left: 9pt;">Compensation Committee</div>
            </td>
            <td style="width: 9.16%; vertical-align: top;">
              <div style="text-align: center;">9<br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 90.84%; vertical-align: top;">
              <div style="margin-left: 9pt;">Audit Committee</div>
            </td>
            <td style="width: 9.16%; vertical-align: top;">
              <div style="text-align: center;">9</div>
            </td>
          </tr>
          <tr>
            <td style="width: 90.84%; vertical-align: top;">
              <div style="margin-left: 9pt;">Audit Fees</div>
            </td>
            <td style="width: 9.16%; vertical-align: top;">
              <div style="text-align: center;">9</div>
            </td>
          </tr>
          <tr>
            <td style="width: 90.84%; vertical-align: top;">
              <div style="margin-left: 9pt;">Audit Committee Report</div>
            </td>
            <td style="width: 9.16%; vertical-align: top;">
              <div style="text-align: center;">9</div>
            </td>
          </tr>
          <tr>
            <td style="width: 90.84%; vertical-align: top;">
              <div>Compensation Discussion and Analysis</div>
            </td>
            <td style="width: 9.16%; vertical-align: top;">
              <div style="text-align: center;">10</div>
            </td>
          </tr>
          <tr>
            <td style="width: 90.84%; vertical-align: top;">
              <div style="margin-left: 9pt;">Base Salary</div>
            </td>
            <td style="width: 9.16%; vertical-align: top;">
              <div style="text-align: center;">11</div>
            </td>
          </tr>
          <tr>
            <td style="width: 90.84%; vertical-align: top;">
              <div style="margin-left: 9pt;">Bonuses</div>
            </td>
            <td style="width: 9.16%; vertical-align: top;">
              <div style="text-align: center;">11</div>
            </td>
          </tr>
          <tr>
            <td style="width: 90.84%; vertical-align: top;">
              <div style="margin-left: 9pt;">Restricted Stock Unit Grants</div>
            </td>
            <td style="width: 9.16%; vertical-align: top;">
              <div style="text-align: center;">11</div>
            </td>
          </tr>
          <tr>
            <td style="width: 90.84%; vertical-align: top;">
              <div style="margin-left: 9pt;">Retirement and Other Benefits</div>
            </td>
            <td style="width: 9.16%; vertical-align: top;">
              <div style="text-align: center;">11</div>
            </td>
          </tr>
          <tr>
            <td style="width: 90.84%; vertical-align: top;">
              <div style="margin-left: 9pt;">Employment Agreement with Ms. Carr</div>
            </td>
            <td style="width: 9.16%; vertical-align: top;">
              <div style="text-align: center;">11</div>
            </td>
          </tr>
          <tr>
            <td style="width: 90.84%; vertical-align: top;">
              <div style="margin-left: 9pt;">Change in Control Effect on other Restricted Stock Units</div>
            </td>
            <td style="width: 9.16%; vertical-align: top;">
              <div style="text-align: center;">12</div>
            </td>
          </tr>
          <tr>
            <td style="width: 90.84%; vertical-align: top;">
              <div style="margin-left: 9pt;">Separation and Release Agreement with Steven Swank</div>
            </td>
            <td style="width: 9.16%; vertical-align: top;">
              <div style="text-align: center;">12</div>
            </td>
          </tr>
          <tr>
            <td style="width: 90.84%; vertical-align: top;">
              <div style="margin-left: 9pt;">Compensation Committee Report</div>
            </td>
            <td style="width: 9.16%; vertical-align: top;">
              <div style="text-align: center;">12</div>
            </td>
          </tr>
          <tr>
            <td style="width: 90.84%; vertical-align: top;">
              <div>Compensation Tables and Other Information</div>
            </td>
            <td style="width: 9.16%; vertical-align: top;">
              <div style="text-align: center;">12</div>
            </td>
          </tr>
          <tr>
            <td style="width: 90.84%; vertical-align: top;">
              <div>Summary Compensation Table</div>
            </td>
            <td style="width: 9.16%; vertical-align: top;">
              <div style="text-align: center;">13</div>
            </td>
          </tr>
          <tr>
            <td style="width: 90.84%; vertical-align: top;">
              <div>Grants of Plan-Based Awards</div>
            </td>
            <td style="width: 9.16%; vertical-align: top;">
              <div style="text-align: center;">13</div>
            </td>
          </tr>
          <tr>
            <td style="width: 90.84%; vertical-align: top;">
              <div>Outstanding Stock Awards</div>
            </td>
            <td style="width: 9.16%; vertical-align: top;">
              <div style="text-align: center;">13</div>
            </td>
          </tr>
          <tr>
            <td style="width: 90.84%; vertical-align: top;">
              <div>PROPOSAL TWO:&#160; Advisory Vote on Executive Compensation (&#8220;Say on Pay&#8221; Vote)</div>
            </td>
            <td style="width: 9.16%; vertical-align: top;">
              <div style="text-align: center;">13</div>
            </td>
          </tr>
          <tr>
            <td style="width: 90.84%; vertical-align: top;">
              <div>Relationships and Transactions with Related Persons</div>
            </td>
            <td style="width: 9.16%; vertical-align: top;">
              <div style="text-align: center;">14</div>
            </td>
          </tr>
          <tr>
            <td style="width: 90.84%; vertical-align: top;">
              <div>Section 16(a) Beneficial Ownership Reporting Compliance</div>
            </td>
            <td style="width: 9.16%; vertical-align: top;">
              <div style="text-align: center;">15</div>
            </td>
          </tr>
          <tr>
            <td style="width: 90.84%; vertical-align: top;">
              <div>Equity Compensation Plans</div>
            </td>
            <td style="width: 9.16%; vertical-align: top;">
              <div style="text-align: center;">15</div>
            </td>
          </tr>
          <tr>
            <td style="width: 90.84%; vertical-align: top;">
              <div>Other Matters</div>
            </td>
            <td style="width: 9.16%; vertical-align: top;">
              <div style="text-align: center;">15</div>
            </td>
          </tr>
          <tr>
            <td style="width: 90.84%; vertical-align: top;">
              <div style="margin-left: 9pt;">Solicitation of Proxies</div>
            </td>
            <td style="width: 9.16%; vertical-align: top;">
              <div style="text-align: center;">15</div>
            </td>
          </tr>
          <tr>
            <td style="width: 90.84%; vertical-align: top;">
              <div style="margin-left: 9pt;">Stockholder Proposals for 2022</div>
            </td>
            <td style="width: 9.16%; vertical-align: top;">
              <div style="text-align: center;">15</div>
            </td>
          </tr>
          <tr>
            <td style="width: 90.84%; vertical-align: top;">
              <div style="margin-left: 9pt;">Stockholder Communications with Board of Directors</div>
            </td>
            <td style="width: 9.16%; vertical-align: top;">
              <div style="text-align: center;">16</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
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      </div>
      <!--PROfilePageNumberReset%Num%1%%%-->
      <div style="text-align: center; font-weight: bold;">GENERAL INFORMATION ABOUT THE ANNUAL MEETING AND VOTING</div>
      <div><br>
      </div>
      <div style="text-align: justify; font-weight: bold;">Why did I receive a notice card for the Annual Meeting?</div>
      <div><br>
      </div>
      <div style="text-align: justify;">Because you are a stockholder of Tandy Leather Factory, Inc. as of the record date and entitled to vote at the 2021 Annual Meeting of Stockholders, our Board of Directors is asking for your vote at the Annual
        Meeting.&#160; You are invited to attend our Annual Meeting on July 1, 2021, beginning at 11:00 am Central time.</div>
      <div><br>
      </div>
      <div style="text-align: justify;">These information materials are first being made available to stockholders on or about June<font style="color: rgb(155, 187, 89);">&#160;</font>2, 2021.</div>
      <div>
        <div><br>
        </div>
      </div>
      <div style="text-align: justify; font-weight: bold;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">What am I voting on?</div>
      <div><br>
      </div>
      <div style="text-align: justify;">You are voting on two items:</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z029798406a704a589682152d516eefd2">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top;">1.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>Election of eight directors for a term of one year; and</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z9f2f6fdd43414028b2952df34301a529">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top;">2.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>An advisory vote on Tandy Leather Factory, Inc.&#8217;s executive compensation, as disclosed in these materials.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="text-align: justify;">At the date this information statement went to print, we did not know of any other matters to be raised at the Annual Meeting.</div>
      <div>
        <div><br>
        </div>
      </div>
      <div style="text-align: justify; font-weight: bold;">
        <hr noshade="noshade" align="center" style="background-color: #000000; border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0px auto; height: 2px; color: #000000; text-align: center;">What


        are the voting recommendations of the Board of Directors?</div>
      <div><br>
      </div>
      <div style="text-align: justify; text-indent: -36pt; margin-left: 36pt;">The Board of Directors recommends that you vote your shares:</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zf0fb24c3bcba48f2be8c748a89112f3c">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>&#8220;FOR&#8221; each of the nominees to the Board of Directors; and</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z276754c3ea4b4eeead1bd416087c07d3">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>&#8220;FOR&#8221; the approval, on an advisory basis, of the compensation of Tandy Leather Factory, Inc.&#8217;s named executive officers as disclosed in these materials.</div>
            </td>
          </tr>

      </table>
      <div>
        <div style="text-align: justify;"><font style="font-weight: bold;"> </font><br>
        </div>
      </div>
      <div style="text-align: justify; font-weight: bold;">
        <hr noshade="noshade" align="center" style="background-color: #000000; border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0px auto; height: 2px; color: #000000; text-align: center;">Who


        is entitled to vote?</div>
      <div><br>
      </div>
      <div style="text-align: justify;">Holders of record of shares of our common stock as of the close of business on May 20, 2021<font style="color: rgb(155, 187, 89);">&#160;</font>(the record date) are entitled to vote at the Annual Meeting.&#160; As of that
        date, a total of 8,663,921 shares of common stock were outstanding and entitled to vote.&#160; Each share of common stock is entitled to one vote.</div>
      <div>
        <div><br>
        </div>
      </div>
      <div style="text-align: justify; font-weight: bold;">
        <hr noshade="noshade" align="center" style="background-color: #000000; border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0px auto; height: 2px; color: #000000; text-align: center;">What


        is the difference between holding shares as a stockholder of record and as a beneficial owner?</div>
      <div><br>
      </div>
      <div style="text-align: justify;">Many stockholders hold their shares through a stockbroker, bank, or other nominee rather than directly in their own name.&#160; As summarized below, there are some distinctions between shares held of record and those
        owned beneficially.</div>
      <div><br>
      </div>
      <div style="text-align: justify;"><font style="font-style: italic;">Stockholder of Record.&#160; </font>If your shares are registered directly in your name with our transfer agent, Broadridge Corporate Issuer Solutions, you are considered, with respect
        to those shares, the stockholder of record<font style="color: rgb(155, 187, 89);">, </font>and you are invited to attend the Annual Meeting.</div>
      <div><br>
      </div>
      <div style="text-align: justify;"><font style="font-style: italic;">Beneficial Owner.&#160; </font>If your shares are held in a stock brokerage account or by a bank or other nominee, you are considered the <font style="font-style: italic;">beneficial
          owner</font> of shares held in &#8220;street name&#8221;, and the meeting notice is being forwarded to you by your broker or nominee who is considered, with respect to those shares, the stockholder of record.&#160; As the beneficial owner, you are invited to
        attend the Annual Meeting.</div>
      <div>
        <div><br>
        </div>
      </div>
      <div style="text-align: justify; font-weight: bold;">
        <hr noshade="noshade" align="center" style="background-color: #000000; border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0px auto; height: 2px; color: #000000; text-align: center;">How


        do I vote?</div>
      <div><br>
      </div>
      <div style="text-align: justify;">Your vote is important.</div>
      <div><br>
      </div>
      <div style="text-align: justify;">If you are a stockholder of record, there are four ways to vote:</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z09069ca062d64771852da260a5e87260">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>By Internet, by visiting the website shown on the Notice card and following the instructions;</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z487bf0b581be47f9b6e5268995bfc7fd">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>By telephone, by calling the toll-free number shown on the Notice card and following the instructions; or</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z14e972316bb3486b929fdc1e5c0cc36b">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>By written ballot at the Annual Meeting.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber">1</font></div>
        <div style="page-break-after: always;" id="DSPFPageBreak">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <div style="text-align: justify;">If you vote by Internet or by telephone, your vote must be received by 11:59 PM Eastern Time on June 30, 2021, the business day before the Annual Meeting.&#160; Your shares will be voted as you indicate.</div>
      <div><br>
      </div>
      <div style="text-align: justify;">If your shares are held in a brokerage account in your broker&#8217;s name, you should follow the voting directions provided by your broker or nominee.&#160; You may complete and mail a voting instruction card to your broker or
        nominee or, in most cases, submit voting instructions via the Internet to your broker or nominee.&#160; If you provide specific voting instructions by mail or the Internet, your shares should be voted by your broker or nominee as you have directed.</div>
      <div><br>
      </div>
      <div style="text-align: justify;">We will distribute written ballots to anyone who wants to vote at the Annual Meeting.&#160; If you hold your shares in street name, you must request a legal proxy from your broker to vote at the Annual Meeting.</div>
      <div>
        <div><br>
        </div>
      </div>
      <div style="text-align: justify; font-weight: bold;">
        <hr noshade="noshade" align="center" style="background-color: #000000; border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0px auto; height: 2px; color: #000000; text-align: center;">Is


        my vote confidential?</div>
      <div><br>
      </div>
      <div style="text-align: justify;">Yes.&#160; It is our policy that all ballots and vote tabulations that identify the vote of a stockholder will be kept confidential from us and our directors, officers, and employees until after the final vote is
        tabulated and announced, except in limited circumstances when required to meet a legal requirement, to defend a claim against us or to assert a claim by us, or when written comments by a stockholder appear on the stockholder&#8217;s voting material.</div>
      <div>
        <div><br>
        </div>
      </div>
      <div style="text-align: justify; font-weight: bold;">
        <hr noshade="noshade" align="center" style="background-color: #000000; border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0px auto; height: 2px; color: #000000; text-align: center;">Who


        counts the votes?</div>
      <div><br>
      </div>
      <div style="text-align: justify;">We will appoint an inspector of election for the Annual Meeting who will count the votes cast.</div>
      <div>
        <div><br>
        </div>
      </div>
      <div style="text-align: justify; font-weight: bold;">
        <hr noshade="noshade" align="center" style="background-color: #000000; border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0px auto; height: 2px; color: #000000; text-align: center;">What


        is the quorum requirement of the meeting?</div>
      <div><br>
      </div>
      <div style="text-align: justify;">A majority of the outstanding shares of common stock determined on May 20, 2021 represented in attendance at the Annual Meeting constitutes a quorum for voting on items at the Annual Meeting.&#160; If you vote, your
        shares will be part of the quorum.&#160; Abstentions will be counted in determining the quorum but will not be counted as votes cast.</div>
      <div>
        <div><br>
        </div>
      </div>
      <div style="text-align: justify; font-weight: bold;">
        <hr noshade="noshade" align="center" style="background-color: #000000; border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0px auto; height: 2px; color: #000000; text-align: center;">What


        vote is required to approve the proposals?</div>
      <div><br>
      </div>
      <div style="text-align: justify;">The eight nominees for director receiving the highest number of &#8220;FOR&#8221; votes at the Annual Meeting will be elected to the Board of Directors.</div>
      <div><br>
      </div>
      <div style="text-align: justify;">The affirmative vote of a majority of the votes cast at the Annual Meeting by stockholders entitled to vote on the matter is required to provide advisory approval of the executive compensation of our named executive
        officers as described in this information statement.&#160; Abstentions are not counted for purposes of the advisory approval of the executive compensation of our named executive officers as described in the information statement.</div>
      <div>
        <div><br>
        </div>
      </div>
      <div style="text-align: justify; font-weight: bold;">
        <hr noshade="noshade" align="center" style="background-color: #000000; border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0px auto; height: 2px; color: #000000; text-align: center;">Where


        can I find the voting results of the Annual Meeting?</div>
      <div><br>
      </div>
      <div style="text-align: justify;">We plan to announce preliminary voting results at the Annual Meeting and publish final results in a current report on SEC Form 8-K within four business days after the Annual Meeting.</div>
      <div>
        <div><br>
        </div>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber">2</font></div>
        <div style="page-break-after:always;" id="DSPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="text-align: center; font-weight: bold;">SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT</div>
      <div><br>
      </div>
      <div style="text-align: justify;">The following table sets forth information regarding the following as of May 20, 2021, the record date for the Annual Meeting:</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z78f3543fec824947afa2225e3fd5cc6d">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>Beneficial owners of more than 5 percent of the outstanding shares of our common stock, other than our officers and directors;</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z319fcc04795e4b5bb27cdca21a505f7a">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>Beneficial ownership by our current directors and nominees and the named executive officers set forth in the Summary Compensation table below; and</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zbbe8213d95244f58a705939353322540">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>Beneficial ownership by all our current directors and executive officers as a group, without naming them.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="text-align: justify;">The percentage of beneficial ownership is calculated on the basis of 8,663,921 shares of our common stock outstanding as of May 20, 2021.&#160; The information provided in the table is based on our records, information
        filed with the SEC, and information provided to us, except where otherwise noted.</div>
      <div><br>
      </div>
      <div style="text-align: center; font-weight: bold;"><u>Security Ownership of Certain Beneficial Owners</u></div>
      <div><u><br>
        </u>
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z9ae8c480a5de4b5fbed10f00fbc5b418">

            <tr>
              <td style="width: 16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="font-weight: bold;">Title of Class</div>
              </td>
              <td style="vertical-align: bottom; width: 2%; padding-bottom: 2px;" colspan="1">&#160;</td>
              <td style="width: 44%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="font-weight: bold;">Name and Address of Beneficial Owner</div>
              </td>
              <td style="vertical-align: bottom; text-align: center; width: 2%; padding-bottom: 2px;" colspan="1">&#160;</td>
              <td style="width: 24%; vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="font-weight: bold;">Amount and Nature of </div>
                <div style="font-weight: bold;">Beneficial Ownership (1)</div>
              </td>
              <td style="vertical-align: bottom; text-align: center; width: 2%; padding-bottom: 2px;" colspan="1">&#160;</td>
              <td style="width: 10%; vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="font-weight: bold;">Percent </div>
                <div style="font-weight: bold;">of Class</div>
              </td>
            </tr>
            <tr>
              <td style="width: 16%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: justify;">Common Stock</div>
              </td>
              <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 2%;" colspan="1">&#160;</td>
              <td style="width: 44%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: justify;">Bandera Partners LLC (2)</div>
                <div style="text-align: justify;">50 Broad Street, Suite 1820</div>
                <div style="text-align: justify;">New York, NY&#160; 10004</div>
              </td>
              <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 2%;" colspan="1">&#160;</td>
              <td style="width: 24%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: center; color: rgb(0, 0, 0); margin-left: 63pt;">2,857,936</div>
              </td>
              <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 2%;" colspan="1">&#160;</td>
              <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: center;">33.0%</div>
              </td>
            </tr>
            <tr>
              <td style="width: 16%; vertical-align: top;" rowspan="1">&#160;</td>
              <td style="vertical-align: top; width: 2%;" rowspan="1" colspan="1">&#160;</td>
              <td style="width: 44%; vertical-align: top;" rowspan="1">&#160;</td>
              <td style="vertical-align: top; width: 2%;" rowspan="1" colspan="1">&#160;</td>
              <td style="width: 24%; vertical-align: top;" rowspan="1">
                <div style="margin-left: 63pt;">&#160;</div>
              </td>
              <td style="vertical-align: top; width: 2%;" rowspan="1" colspan="1">&#160;</td>
              <td style="width: 10%; vertical-align: top;" rowspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 16%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: justify;">Common Stock</div>
                <div>&#160;</div>
                <div>&#160;</div>
              </td>
              <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 2%;" colspan="1">&#160;</td>
              <td style="width: 44%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: justify;">JCP Investment Partnership, LP (3)</div>
                <div style="text-align: justify;">1177 West Loop South, Suite 1650</div>
                <div style="text-align: justify;">Houston, TX 77027</div>
              </td>
              <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 2%;" colspan="1">&#160;</td>
              <td style="width: 24%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: center; color: rgb(0, 0, 0); margin-left: 63pt;">859,197</div>
                <div style="margin-left: 63pt;">&#160;</div>
                <div style="margin-left: 63pt;">&#160;</div>
              </td>
              <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 2%;" colspan="1">&#160;</td>
              <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: center;">9.9%</div>
                <div>&#160;</div>
                <div>&#160;</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div style="text-align: center; font-weight: bold;"><u>Security Ownership of Management</u></div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z15c81d3ba366441c90c89641de5aafbd">

            <tr>
              <td style="width: 16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="font-weight: bold;">Title of Class</div>
              </td>
              <td style="vertical-align: bottom; width: 2%; padding-bottom: 2px;" colspan="1">&#160;</td>
              <td style="width: 44%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="font-weight: bold;">Name of Beneficial Owner</div>
              </td>
              <td style="vertical-align: top; width: 2%; padding-bottom: 2px;" colspan="1">&#160;</td>
              <td style="width: 24%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">Amount and Nature of </div>
                <div style="text-align: center; font-weight: bold;">Beneficial Ownership (1)(4)</div>
              </td>
              <td style="vertical-align: top; width: 2%; padding-bottom: 2px;" colspan="1">&#160;</td>
              <td style="width: 10%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">Percent </div>
                <div style="text-align: center; font-weight: bold;">of Class</div>
              </td>
            </tr>
            <tr>
              <td style="width: 16%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: justify; color: rgb(0, 0, 0);">Common Stock</div>
              </td>
              <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 2%;" colspan="1">&#160;</td>
              <td style="width: 44%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: justify; color: rgb(0, 0, 0);">Janet Carr</div>
              </td>
              <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 2%;" colspan="1">&#160;</td>
              <td style="width: 24%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: center; margin-left: 81pt;">192,800</div>
              </td>
              <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 2%;" colspan="1">&#160;</td>
              <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: center;">2.2%</div>
              </td>
            </tr>
            <tr>
              <td style="width: 16%; vertical-align: top;">
                <div style="text-align: justify; color: rgb(0, 0, 0);">Common Stock</div>
              </td>
              <td style="vertical-align: top; width: 2%;" colspan="1">&#160;</td>
              <td style="width: 44%; vertical-align: top;">
                <div style="text-align: justify; color: rgb(0, 0, 0);">Michael Galvan</div>
              </td>
              <td style="vertical-align: top; width: 2%;" colspan="1">&#160;</td>
              <td style="width: 24%; vertical-align: top;">
                <div style="text-align: center; margin-left: 81pt;">-</div>
              </td>
              <td style="vertical-align: top; width: 2%;" colspan="1">&#160;</td>
              <td style="width: 10%; vertical-align: top;">
                <div style="text-align: center;">*</div>
              </td>
            </tr>
            <tr>
              <td style="width: 16%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: justify; color: rgb(0, 0, 0);">Common Stock</div>
              </td>
              <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 2%;" colspan="1">&#160;</td>
              <td style="width: 44%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: justify; color: rgb(0, 0, 0);">Vicki Cantrell</div>
              </td>
              <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 2%;" colspan="1">&#160;</td>
              <td style="width: 24%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: center; margin-left: 81pt;">3,374</div>
              </td>
              <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 2%;" colspan="1">&#160;</td>
              <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: center;">*</div>
              </td>
            </tr>
            <tr>
              <td style="width: 16%; vertical-align: top;">
                <div style="text-align: justify; color: rgb(0, 0, 0);">Common Stock</div>
              </td>
              <td style="vertical-align: top; width: 2%;" colspan="1">&#160;</td>
              <td style="width: 44%; vertical-align: top;">
                <div style="text-align: justify; color: rgb(0, 0, 0);">Elaine D. Crowley</div>
              </td>
              <td style="vertical-align: top; width: 2%;" colspan="1">&#160;</td>
              <td style="width: 24%; vertical-align: top;">
                <div style="text-align: center; margin-left: 81pt;">-</div>
              </td>
              <td style="vertical-align: top; width: 2%;" colspan="1">&#160;</td>
              <td style="width: 10%; vertical-align: top;">
                <div style="text-align: center;">*</div>
              </td>
            </tr>
            <tr>
              <td style="width: 16%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: justify; color: rgb(0, 0, 0);">Common Stock</div>
              </td>
              <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 2%;" colspan="1">&#160;</td>
              <td style="width: 44%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: justify; color: rgb(0, 0, 0);">Jefferson Gramm(2)</div>
              </td>
              <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 2%;" colspan="1">&#160;</td>
              <td style="width: 24%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: center; margin-left: 81pt;">2,864,055</div>
              </td>
              <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 2%;" colspan="1">&#160;</td>
              <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: center;">33.1%</div>
              </td>
            </tr>
            <tr>
              <td style="width: 16%; vertical-align: top;">
                <div style="text-align: justify; color: rgb(0, 0, 0);">Common Stock</div>
              </td>
              <td style="vertical-align: top; width: 2%;" colspan="1">&#160;</td>
              <td style="width: 44%; vertical-align: top;">
                <div style="text-align: justify; color: rgb(0, 0, 0);">Sharon M. Leite</div>
              </td>
              <td style="vertical-align: top; width: 2%;" colspan="1">&#160;</td>
              <td style="width: 24%; vertical-align: top;">
                <div style="text-align: center; margin-left: 81pt;">3,374</div>
              </td>
              <td style="vertical-align: top; width: 2%;" colspan="1">&#160;</td>
              <td style="width: 10%; vertical-align: top;">
                <div style="text-align: center;">*</div>
              </td>
            </tr>
            <tr>
              <td style="width: 16%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: justify; color: rgb(0, 0, 0);">Common Stock</div>
              </td>
              <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 2%;" colspan="1">&#160;</td>
              <td style="width: 44%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: justify; color: rgb(0, 0, 0);">James Pappas (3)</div>
              </td>
              <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 2%;" colspan="1">&#160;</td>
              <td style="width: 24%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: center; margin-left: 81pt;">863,922</div>
              </td>
              <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 2%;" colspan="1">&#160;</td>
              <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: center;">10.0%</div>
              </td>
            </tr>
            <tr>
              <td style="width: 16%; vertical-align: top;">
                <div style="text-align: justify; color: rgb(0, 0, 0);">Common Stock</div>
              </td>
              <td style="vertical-align: top; width: 2%;" colspan="1">&#160;</td>
              <td style="width: 44%; vertical-align: top;">
                <div style="text-align: justify; color: rgb(0, 0, 0);">Sejal Patel</div>
              </td>
              <td style="vertical-align: top; width: 2%;" colspan="1">&#160;</td>
              <td style="width: 24%; vertical-align: top;">
                <div style="text-align: center; margin-left: 81pt;">3,374</div>
              </td>
              <td style="vertical-align: top; width: 2%;" colspan="1">&#160;</td>
              <td style="width: 10%; vertical-align: top;">
                <div style="text-align: center;">*</div>
              </td>
            </tr>
            <tr>
              <td style="width: 16%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: justify; color: rgb(0, 0, 0);">Common Stock</div>
              </td>
              <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 2%;" colspan="1">&#160;</td>
              <td style="width: 44%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: justify; color: rgb(0, 0, 0);">William Warren</div>
              </td>
              <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 2%;" colspan="1">&#160;</td>
              <td style="width: 24%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: center; margin-left: 81pt;">28,516</div>
              </td>
              <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 2%;" colspan="1">&#160;</td>
              <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="text-align: center;">*</div>
              </td>
            </tr>
            <tr>
              <td style="width: 16%; vertical-align: top;">&#160;</td>
              <td style="vertical-align: top; width: 2%;" colspan="1">&#160;</td>
              <td style="width: 44%; vertical-align: top;">
                <div style="text-align: justify; color: rgb(0, 0, 0);">All Current Directors and Executive Officers as a Group (9 persons)</div>
              </td>
              <td style="vertical-align: top; width: 2%;" colspan="1">&#160;</td>
              <td style="width: 24%; vertical-align: top;">
                <div style="text-align: center; margin-left: 81pt;">3,959,415</div>
              </td>
              <td style="vertical-align: top; width: 2%;" colspan="1">&#160;</td>
              <td style="width: 10%; vertical-align: top;">
                <div style="text-align: center;">45.7%</div>
              </td>
            </tr>

        </table>
        <div style="text-align: justify;"> <br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;" id="z277b452af4644da5a6ec1622be01cd65" class="DSPFListTable">

              <tr style="vertical-align: top;">
                <td style="align: right; vertical-align: top; width: 9pt;">
                  <div style="text-align: justify;">*</div>
                </td>
                <td style="align: left; vertical-align: top; width: auto;">
                  <div style="text-align: justify;">Represents beneficial ownership of less than 1% of our outstanding shares of common stock.</div>
                </td>
              </tr>

          </table>
        </div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd6391e5ed3ea4768add6f035b416e44f">

            <tr>
              <td style="width: 20.25pt; vertical-align: top;">(1)</td>
              <td style="vertical-align: top; text-align: justify;">
                <div style="font-size: 8pt;"><font style="font-size: 10pt;">A</font><font style="font-size: 10pt;">ll shares of common stock are owned beneficially, and such owner has sole voting and investment power, unless otherwise stated.&#160; The
                    inclusion herein of shares listed as beneficially owned does not constitute an admission of beneficial ownership.</font></div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd5160e1d36fd44d094ecc870f741295a">

            <tr>
              <td style="width: 20.25pt; vertical-align: top; color: rgb(0, 0, 0);">(2)</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="color: rgb(0, 0, 0);">Holdings shown for Jefferson Gramm and Bandera Partners, LLC are based on a Schedule 13D/A filed on February 5, 2021 by Mr. Gramm and Bandera Partners, LLC.&#160; Bandera Partners, LLC is the investment manager
                  of Bandera Master Fund L.P. in whose name 2,857,936 of our shares are held.&#160; Messrs. Gregory Bylinksy and Jefferson Gramm are Managing Partners, Managing Directors and Portfolio Managers of Bandera Partners LLC.&#160; Bandera Master Fund L.P.
                  has delegated to Bandera Partners the sole and exclusive authority to vote and dispose of the securities held by Bandera Master Fund.&#160; As a result, each of Bandera Partners and Messrs. Bylinksy and Gramm may be deemed to beneficially own
                  the shares held by Bandera Master Fund.</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zf45f0b3f9ff14d668ad63438a8dd622a">

            <tr>
              <td style="width: 20.25pt; vertical-align: top; color: rgb(0, 0, 0);">(3)</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="font-size: 8pt;"><font style="font-size: 10pt; color: rgb(0, 0, 0);">Holdings shown </font><font style="font-size: 10pt;">JCP Investment Management, LLC are based on a Schedule 13D/A filed on December<font style="color: rgb(0, 0, 0);"> 6, 2018 by JCP Investment Management, LLC. Mr. Pappas, one of our Directors, is a Managing Member and Owner of JCP Investment Management, LLC.&#160; As a result, Mr. Pappas may be deemed to beneficially own the shares held by JCP
                      Investment Management, LLC.&#160; Ownership percentages in the table are rounded to the nearest 1/10%; actual ownership percentage for Mr. Pappas is 9.97%.</font></font></div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd5ba81bbea3f4db39059733cdf0a65a6">

            <tr>
              <td style="width: 20.25pt; vertical-align: top;">(4)</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>To our knowledge, none of these shares have been pledged.</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber">3</font></div>
          <div style="page-break-after: always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <div style="text-align: center; font-weight: bold;">PROPOSAL ONE:&#160; ELECTION OF DIRECTORS</div>
        <div><br>
        </div>
        <div style="font-weight: bold;"><u>The Board of Directors Recommends a Vote &#8220;FOR&#8221; All Nominees.</u></div>
        <div><br>
        </div>
        <div style="text-align: justify;">All directors are to be elected at the Annual Meeting to hold office until the next Annual Meeting of stockholders and until their successors have been duly elected and qualified.&#160; Currently, there are eight
          directors as provided by our corporate by-laws.&#160; All eight nominees have indicated their willingness to serve for the ensuing term.</div>
        <div><br>
        </div>
        <div style="text-align: center; font-weight: bold;">GENERAL INFORMATION ABOUT THE BOARD OF DIRECTORS</div>
        <div><br>
        </div>
        <div> </div>
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z85ca1abecf77467b8a6b76db76ffefde">

            <tr>
              <td style="width: 22.91%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">Name</div>
              </td>
              <td style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 5.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">Age</div>
              </td>
              <td style="width: 1.98%; vertical-align: bottom;">&#160;</td>
              <td style="width: 10.38%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">Director </div>
                <div style="text-align: center; font-weight: bold;">Since</div>
              </td>
              <td style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 55.08%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">Position</div>
              </td>
            </tr>
            <tr>
              <td style="width: 22.91%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div>Janet Carr</div>
              </td>
              <td style="width: 2%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 5.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: center;">60</div>
              </td>
              <td style="width: 1.98%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 10.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: center;">2018</div>
              </td>
              <td style="width: 2%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 55.08%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div>Director, Chief Executive Officer</div>
              </td>
            </tr>
            <tr>
              <td style="width: 22.91%; vertical-align: bottom;">
                <div>Vicki Cantrell</div>
              </td>
              <td style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 5.64%; vertical-align: bottom;">
                <div style="text-align: center;">63</div>
              </td>
              <td style="width: 1.98%; vertical-align: bottom;">&#160;</td>
              <td style="width: 10.38%; vertical-align: bottom;">
                <div style="text-align: center;">2017</div>
              </td>
              <td style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 55.08%; vertical-align: bottom;">
                <div>Director</div>
              </td>
            </tr>
            <tr>
              <td style="width: 22.91%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div>Elaine D. Crowley</div>
              </td>
              <td style="width: 2%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 5.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: center;">62</div>
              </td>
              <td style="width: 1.98%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 10.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: center;">2021</div>
              </td>
              <td style="width: 2%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 55.08%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div>Director</div>
              </td>
            </tr>
            <tr>
              <td style="width: 22.91%; vertical-align: bottom;">
                <div>Jefferson Gramm</div>
              </td>
              <td style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 5.64%; vertical-align: bottom;">
                <div style="text-align: center;">45</div>
              </td>
              <td style="width: 1.98%; vertical-align: bottom;">&#160;</td>
              <td style="width: 10.38%; vertical-align: bottom;">
                <div style="text-align: center;">2014</div>
              </td>
              <td style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 55.08%; vertical-align: bottom;">
                <div>Chairman of the Board of Directors</div>
              </td>
            </tr>
            <tr>
              <td style="width: 22.91%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div>Sharon M. Leite</div>
              </td>
              <td style="width: 2%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 5.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: center;">58</div>
              </td>
              <td style="width: 1.98%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 10.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: center;">2017</div>
              </td>
              <td style="width: 2%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 55.08%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div>Director</div>
              </td>
            </tr>
            <tr>
              <td style="width: 22.91%; vertical-align: bottom;">
                <div>James Pappas</div>
              </td>
              <td style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 5.64%; vertical-align: bottom;">
                <div style="text-align: center;">40</div>
              </td>
              <td style="width: 1.98%; vertical-align: bottom;">&#160;</td>
              <td style="width: 10.38%; vertical-align: bottom;">
                <div style="text-align: center;">2016</div>
              </td>
              <td style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 55.08%; vertical-align: bottom;">
                <div>Director</div>
              </td>
            </tr>
            <tr>
              <td style="width: 22.91%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div>Sejal Patel</div>
              </td>
              <td style="width: 2%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 5.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: center;">42</div>
              </td>
              <td style="width: 1.98%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 10.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: center;">2017</div>
              </td>
              <td style="width: 2%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 55.08%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div>Director</div>
              </td>
            </tr>
            <tr>
              <td style="width: 22.91%; vertical-align: bottom;">
                <div>William M. Warren</div>
              </td>
              <td style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 5.64%; vertical-align: bottom;">
                <div style="text-align: center;">76</div>
              </td>
              <td style="width: 1.98%; vertical-align: bottom;">&#160;</td>
              <td style="width: 10.38%; vertical-align: bottom;">
                <div style="text-align: center;">2013</div>
              </td>
              <td style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 55.08%; vertical-align: bottom;">
                <div>Director</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div style="text-align: justify;"><font style="font-weight: bold; font-style: italic;">Janet Carr</font>, 60, has served as our Chief Executive Officer and as a member of our Board of Directors since October 2018.&#160; Prior to her current role, Ms.
          Carr served as the SVP of Global Business Development for Caleres (formerly Brown Shoe) from January 2016 until July 2017. While there, she was responsible for international wholesale and retail for all of their brands. Prior to Caleres, Ms. Carr
          was the President of the Handbag Division of Nine West Group from 2013 to November 2014, where she was responsible for all aspects of design, development and sales in both wholesale and retail.&#160; Ms. Carr has deep experience in strategy and
          consumer insights in various roles at a number of prominent retailers including Tapestry, Inc. (formerly Coach, Inc.), Gap Inc. and Safeway.</div>
        <div><br>
        </div>
        <div style="text-align: justify;"><a name="z_Hlk479853825"></a><font style="font-weight: bold; font-style: italic;">Vicki Cantrell</font>, 63, is a retail veteran with over 20 years of operational experience.&#160; Since January 2020 she has served as
          Chief Executive Officer for Vendors in Partnership LLC.&#160; From September 2017 until June 2018, she served as Retail Transformation Officer for Aptos Inc., where Ms. Cantrell brought transformation strategies to the retailer&#8217;s businesses and to the
          vendor/retail partnership.&#160; Prior to that role, Ms. Cantrell served from October 2011 to October 2016 as a Senior Vice President at National Retail Federation, which is the world&#8217;s largest retail association. From May 2008 until June 2011, she
          served as Chief Operating Officer of Tory Burch LLC while it experienced 300% growth.&#160; From April 2003 until May 2008 she served as Chief Information Officer of Giorgio Armani, as it underwent a multi-phase CRM implementation. Ms. Cantrell has
          worked in all facets of the retail industry, as retailer, vendor/partner and industry spokesperson. She has deep expertise in building and executing strategies to meet evolving needs including enhancing customer acquisition, service and loyalty;
          determining optimal organizational structure in ever-changing environments; and in building robust cyber security programs.</div>
        <div><br>
        </div>
        <div style="text-align: justify; color: rgb(0, 0, 0);"><font style="font-weight: bold; font-style: italic;">Elaine D. Crowley</font>, 62, served as Chief Restructuring Officer of Stage Stores, Inc. from May 2020 to October 2020 and served as a
          member of its Board of Directors from 2014 to 2020.&#160;&#160; From 2010 until her retirement in 2012, Ms. Crowley served as Executive Vice President and Chief Financial Officer for Mattress Giant Corporation, a mattress retailer.&#160; From 2008 to 2010, Ms.
          Crowley served as Executive Vice President and Chief Financial Officer and Senior Vice President, Controller and Chief Accounting Officer/Chief Financial Officer for Michaels Stores, Inc., an arts and crafts retailer.&#160; From August 1990 to
          September 2007, Ms. Crowley was employed by The Bombay Company, Inc., a furniture and home goods retailer, most recently as Senior Vice President, Chief Financial Officer and Treasurer.&#160; She held that title for administrative purposes while also
          having served as Liquidation Trustee for the Bombay Liquidation Trust from September 2007 to December 2017.&#160; She has 11 years of public accounting experience principally with Price Waterhouse.&#160; She holds a B.B.A. in accounting from Texas
          Christian University and is licensed as a certified public accountant in Texas.&#160; Ms. Crowley&#8217;s tenure in senior executive and financial roles with other retailers and experience as a Certified Public Accountant in the practice of public
          accounting provides the Board with valuable leadership experience and financial and retail expertise.</div>
        <div><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber">4</font></div>
          <div style="page-break-after: always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <div style="text-align: justify;"><font style="font-weight: bold; font-style: italic;">Jefferson Gramm,</font> 45, <font style="color: rgb(0, 0, 0);">is a portfolio manager at Bandera Partners LLC, which might be deemed to be an affiliate of ours
            by virtue of holding approximately 33% of our outstanding common stock. </font>See &#8220;SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT&#8221; for information regarding Bandera Partners LLC&#8217;s ownership of our common stock.&#160; <font style="color: rgb(0, 0, 0);">Mr. Gramm has been in his present position with Bandera since 2006.&#160; His prior experience includes serving as Managing Director of Arklow Capital, LLC, a hedge fund manager focused on distressed and value
            investments, from October 2004 to July 2006.&#160; He has been a Director of Rubicon Technology since November 2017.&#160; He also served as a Director of Ambassadors Group from May 2014 until October 2015 and of Morgan&#8217;s Foods Inc. from April 2013 to
            March 2014. He served as a Director of Peerless Systems Corp from June 2009 to November 2010.&#160;&#160; He received an M.B.A. from Columbia University in 2003 and a B.A. in Philosophy from University of Chicago in 1996.&#160; </font>Mr. Gramm provides a
          unique and valuable perspective with respect to corporate governance, our stockholder base and stockholder issues in general.</div>
        <div><br>
        </div>
        <div style="text-align: justify;"><a name="z_Hlk479858836"></a><font style="font-weight: bold; font-style: italic;">Sharon M. Leite</font>, 58, has been Chief Executive Officer of Vitamin Shoppe, Inc. since August 2018. She previously served as
          Managing Director, President of Godiva Chocolatier in North America from October 2017 until August, 2018.&#160; Prior to joining Godiva, from February 2016 until May 2017, Ms. Leite was the President of Sally Beauty, US and Canada (NYSE: SBH), an
          international specialty retailer and distributor of professional beauty products, with over 3,000 stores. Prior to joining SBH, from 2007 until January 2016, Ms. Leite was the Executive Vice President of Sales, Customer Experience, &amp; Real
          Estate at Pier 1 Imports (NYSE:&#160; PIR).&#160; In addition, Ms. Leite has held various executive leadership roles at Bath and Body Works (L Brands) as well as various sales and operations positions with other prominent retailers including Gap, Inc. and
          The Walt Disney Company.&#160; She currently serves as a member of the Board of Directors of the National Retal Federation (NRF).&#160; <font style="color: rgb(0, 0, 0);">Ms. Leite brings significant general management experience as well as retail sales,
            operations, digital, e-commerce, real estate, merchandising, marketing and human resource strategies.</font></div>
        <div><br>
        </div>
        <div style="text-align: justify;"><font style="font-weight: bold; font-style: italic;">James Pappas, </font>40, is the managing member and owner of JCP Investment Management. Mr. Pappas serves on the board of Innovative Food Holdings, Inc. since
          2020.&#160; Mr. Pappas also served as a director of US Geothermal, Inc. from September 2016 until April 2018. He served as a director of Jamba, Inc., a health and wellness brand and leading retailer of freshly squeezed juice, from January 2015 to
          September 2018; he also served on Jamba, Inc.&#8217;s Nominating, Corporate Governance and Audit Committees.&#160; He served on the board of directors of The Pantry, Inc., the largest independently operated convenience store chains in the U.S. from March
          2014 until it was acquired in February 2015.&#160; Mr. Pappas also served on the board of directors, including Chairman of the Board, of Morgan&#8217;s Foods from February 2012 to May 2014 until it was acquired.&#160; Mr. Pappas received a BBA in Information
          Technology and a Masters in Finance from Texas A&amp;M University.&#160; Mr. Pappas has substantial skills in marketing and branding, as well as experience with growth-oriented businesses.&#160; Mr. Pappas also offers a strong tactical and financial
          background.</div>
        <div><br>
        </div>
        <div style="text-align: justify;"><font style="font-weight: bold; font-style: italic;">Sejal Patel, </font>42, is a Portfolio Manager at Skale Investments since January 2019.&#160; From July 2015 through September 2018, she was a Partner/Advisor at
          Lake Trail Capital, a private investment firm.&#160; Her prior work experience includes serving as Vice President of Indus Capital, a hedge fund manager focused on Asian and Japanese equities, from 2012 to 2015 and Director for Kelusa Capital
          Management, a hedge fund manager focused on Asian equities, from 2006 to 2012. She served on the Boards of Value Quest Capital, a value fund based in India, since 2014 and the Tiger Foundation, a non-profit organization based in New York, from
          2009 to 2018. She received a B.S. in Economics from the University of Pennsylvania.&#160; Ms. Patel brings a strong financial and business background to our Board.</div>
        <div><br>
        </div>
        <div style="text-align: justify;"><font style="font-weight: bold; font-style: italic;">William M. Warren</font><font style="font-weight: bold;">,</font> 76,&#160; is president and sole Director of William M. Warren, PLLC, an independent law firm.&#160; He
          also serves as of Counsel to Loe Warren P.C., a law firm located in Fort Worth Texas, where he was President and Director from 1979 until December 2019.&#160; He has served as one of our directors from 1993 to 2003 and since 2013 and also served as
          our Secretary and General Counsel from 1993 until 2018.&#160; Mr. Warren brings to our Board extensive legal and industry experience, as well as a long history with, and deep institutional knowledge of, the Company.</div>
        <div style="text-align: justify; text-indent: 103.5pt;"><br>
        </div>
        <div style="text-align: justify;">The information relating to the occupations and security holdings of our directors and nominees is based upon information received from them.</div>
        <div><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber">5</font></div>
          <div style="page-break-after: always;" id="DSPFPageBreak">
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        </div>
        <div style="font-weight: bold;">ADDITIONAL INFORMATION CONCERNING OUR BOARD OF DIRECTORS</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-style: italic;">Meeting Attendance</div>
        <div><br>
        </div>
        <div style="text-align: justify;">During fiscal 2020, the Board of Directors held four regularly scheduled meetings.&#160; All current directors who served during 2020 attended 75% or more of the aggregate of the total number of meetings of the Board of
          Directors and of committees of the Board of Directors of which he or she was a member and which were held during the time that he or she was a director or member of such committee, as applicable.&#160; We encourage and expect our directors to attend
          our Annual Meeting absent extenuating circumstances, but we do not have a formal policy requiring attendance.&#160; All of our directors attended our Annual Meeting held in 2020.</div>
        <div><br>
        </div>
        <div style="font-style: italic;">Director Independence</div>
        <div><br>
        </div>
        <div style="text-align: justify;">The Board of Directors has considered the listing requirements of the Nasdaq for &#8220;independence&#8221; of directors, and it has determined that our non-employee directors Vicki Cantrell, Elaine Crowley, Jefferson Gramm,
          Sharon Leite, James Pappas and Sejal Patel are independent under these requirements.&#160; Our non-employee directors hold executive sessions at each regular meeting.</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-style: italic;">Board of Directors Leadership Structure</div>
        <div><br>
        </div>
        <div style="text-align: justify;">The Board of Directors has determined it appropriate to separate the roles of CEO and Chairman, allowing the CEO to run Tandy Leather Factory, Inc. and the Chairman to run the Board of Directors.&#160; Janet Carr has
          been our Chief Executive Officer since October 2018.&#160; Jefferson Gramm, one of our directors, has been Chairman of the Board since 2017.&#160; We believe our CEO and our Chairman have an excellent working relationship that has allowed the CEO to focus
          on the challenges that we face in the current business environment.&#160; The separation of the CEO and Chairman positions provides strong leadership for our Board of Directors, while also positioning our CEO as our leader in the eyes of our
          customers, employees, and other stakeholders.</div>
        <div><br>
        </div>
        <div style="text-align: justify;">Our Board of Directors currently has six independent members and two non-independent members; in May 2021 we increased the size of our Board from seven members to eight.&#160; We have three committees of the Board of
          Directors comprised solely of independent directors, with three different independent directors serving as chairs of the committees.&#160; We believe that the number of independent, experienced directors that make up our Board of Directors benefits us
          and our stockholders.</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-style: italic;">Risk Oversight</div>
        <div><br>
        </div>
        <div style="text-align: justify;">Our Audit Committee is primarily responsible for overseeing our risk management processes on behalf of the full Board of Directors, focusing on the most significant risks facing us and our general risk management
          strategy, and also ensuring that risks undertaken by us are consistent with the Board of Directors&#8217; appetite for risk.&#160; Management is responsible for the development, implementation, and maintenance of our risk management processes and provides
          periodic reports to the Audit Committee on its assessment of strategic, operational, financial, competitive, reputational, and legal risks to us.&#160; We believe this division of responsibilities is the most effective approach for addressing the
          risks we face and that our Board of Directors leadership structure supports this approach.</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-style: italic;">Director Compensation</div>
        <div style="text-align: justify;">Compensation of non-employee directors is determined by the Board. Our non-employee directors are paid an annual cash retainer of $16,000; in addition, the Chairman of the Audit Committee is paid an additional
          annual retainer of $5,000, and other members of the Audit Committee are paid an additional retainer of $2,000. All directors are reimbursed for reasonable expenses incurred in connection with their service on our Board of Directors, including the
          committees thereof.</div>
        <div style="text-align: justify;"> <br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber">6</font></div>
          <div style="page-break-after: always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <div style="text-align: justify;">We generally award restricted stock units annually to each non-employee director in accordance with our 2013 Restricted Stock Plan; these grants generally have a value equal to approximately $14,000 (based on the
          fair market value of our common stock as of the date of grant) and vest equally over a four-year period from the date of grant.&#160;&#160; Between February 2017 and the end of 2018, we did not award any equity to our non-employee directors, and the Board
          has determined that this was an oversight that should be corrected with increased grants in 2019 and 2020.&#160; Accordingly, in February 2020, we awarded each non-employee director other than Mr. Gramm (who voluntarily declined this equity grant) an
          increased grant of restricted stock units with a fair market value equal to $23,000 as of the grant date; the shares underlying the 2020 awards will vest equally over a three-year period from the date of grant.&#160; In February 2021, we awarded each
          non-employee director other than Mr. Gramm (who voluntarily declined this equity grant) a grant of restricted stock units with a fair market value equal to $14,000 as of the grant date; the shares underlying the 2021 awards will vest equally over
          a four-year period from the date of grant.&#160; Upon joining the Board in May 2021, Elaine Crowley was awarded a grant of restricted stock units with these same terms.</div>
        <div><br>
        </div>
        <div style="text-align: justify;">The goal of our restricted stock unit grants to directors is to attract and retain competent non-employee personnel to serve on our Board of Directors by offering them long-term equity incentives.&#160; Each of our
          non-employee directors is eligible to participate in this plan.</div>
        <div><br>
        </div>
        <div style="text-align: center; font-weight: bold;">DIRECTOR COMPENSATION TABLE</div>
        <div><br>
        </div>
        <div style="text-align: justify;">The table below summarizes the compensation paid by us to our non-employee directors for their service on the Board during the year ended December 31, 2020.&#160; Our directors who are also employees receive no
          additional compensation for serving as directors.</div>
        <div style="text-align: justify;"> </div>
        <div style="text-align: justify;"> <br>
        </div>
        <div> </div>
        <div>
          <table cellspacing="0" cellpadding="0" border="0" style="width: 100%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;" id="zc4952cc4ff4b4ccc9a33778dd3f16f5a">

              <tr>
                <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); width: 25.27%;">
                  <div><font style="font-weight: bold; color: rgb(0, 0, 0);"> </font>&#160;</div>
                  <div style="color: rgb(0, 0, 0); font-weight: bold;">Name</div>
                </td>
                <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); width: 30%;">
                  <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Fees Earned or Paid in </div>
                  <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Cash ($)</div>
                </td>
                <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); width: 25%;">
                  <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Restricted Stock </div>
                  <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Awards($)</div>
                </td>
                <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); width: 20%;">
                  <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Total</div>
                  <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">($)</div>
                </td>
              </tr>
              <tr>
                <td valign="bottom" style="vertical-align: top; width: 25.27%; background-color: rgb(204, 238, 255);">
                  <div style="color: rgb(0, 0, 0);">Vicki Cantrell</div>
                </td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 30%; background-color: rgb(204, 238, 255);" colspan="1">
                  <div style="color: rgb(0, 0, 0); text-align: center;">$16,000</div>
                </td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 25%; background-color: rgb(204, 238, 255);" colspan="1">
                  <div style="color: rgb(0, 0, 0); text-align: center;">$23,000</div>
                </td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 20%; background-color: rgb(204, 238, 255);" colspan="1">
                  <div style="color: rgb(0, 0, 0); text-align: center;">$39,000</div>
                </td>
              </tr>
              <tr>
                <td valign="bottom" style="vertical-align: top; width: 25.27%;">
                  <div style="color: rgb(0, 0, 0);">Jefferson Gramm</div>
                </td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 30%;" colspan="1">
                  <div style="color: rgb(0, 0, 0); text-align: center;">16,000</div>
                </td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 25%;" colspan="1">
                  <div style="color: rgb(0, 0, 0); text-align: center;">-</div>
                </td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 20%;" colspan="1">
                  <div style="color: rgb(0, 0, 0); text-align: center;">16,000</div>
                </td>
              </tr>
              <tr>
                <td valign="bottom" style="vertical-align: top; width: 25.27%; background-color: rgb(204, 238, 255);">
                  <div style="color: rgb(0, 0, 0);">Sharon M. Leite</div>
                </td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 30%; background-color: rgb(204, 238, 255);" colspan="1">
                  <div style="color: rgb(0, 0, 0); text-align: center;">18,000</div>
                </td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 25%; background-color: rgb(204, 238, 255);" colspan="1">
                  <div style="color: rgb(0, 0, 0); text-align: center;">23,000</div>
                </td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 20%; background-color: rgb(204, 238, 255);" colspan="1">
                  <div style="color: rgb(0, 0, 0); text-align: center;">41,000</div>
                </td>
              </tr>
              <tr>
                <td valign="bottom" style="vertical-align: top; width: 25.27%;">
                  <div style="color: rgb(0, 0, 0);">James Pappas</div>
                </td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 30%;" colspan="1">
                  <div style="color: rgb(0, 0, 0); text-align: center;">21,000</div>
                </td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 25%;" colspan="1">
                  <div style="color: rgb(0, 0, 0); text-align: center;">23,000</div>
                </td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 20%;" colspan="1">
                  <div style="color: rgb(0, 0, 0); text-align: center;">44,000</div>
                </td>
              </tr>
              <tr>
                <td valign="bottom" style="vertical-align: top; width: 25.27%; background-color: rgb(204, 238, 255);">
                  <div style="color: rgb(0, 0, 0);">Sejal Patel</div>
                </td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 30%; background-color: rgb(204, 238, 255);" colspan="1">
                  <div style="color: rgb(0, 0, 0); text-align: center;">18,000</div>
                </td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 25%; background-color: rgb(204, 238, 255);" colspan="1">
                  <div style="color: rgb(0, 0, 0); text-align: center;">23,000</div>
                </td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 20%; background-color: rgb(204, 238, 255);" colspan="1">
                  <div style="color: rgb(0, 0, 0); text-align: center;">41,000</div>
                </td>
              </tr>
              <tr>
                <td valign="bottom" style="vertical-align: top; width: 25.27%;">
                  <div style="color: rgb(0, 0, 0);">William Warren</div>
                </td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 30%;" colspan="1">
                  <div style="color: rgb(0, 0, 0); text-align: center;">16,000</div>
                </td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 25%;" colspan="1">
                  <div style="color: rgb(0, 0, 0); text-align: center;">23,000</div>
                </td>
                <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 20%;" colspan="1">
                  <div style="color: rgb(0, 0, 0); text-align: center;">39,000</div>
                </td>
              </tr>

          </table>
        </div>
        <div><br>
        </div>
        <div style="text-align: center; font-weight: bold;">COMMITTEES OF THE BOARD OF DIRECTORS</div>
        <div><br>
        </div>
        <div style="text-align: justify;">As of the date of this information statement, our Board of Directors has three committees:&#160; (1) Audit Committee, (2) Compensation Committee, and (3) Nominating Committee.&#160; The membership as of the date of this
          information statement and the function of each committee are described below.</div>
        <div> </div>
        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" border="0" style="border-collapse: collapse; width: 100%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;" id="z39dde9310f144a9f83eb0fe32f8501e3">

              <tr>
                <td style="width: 40%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                  <div style="text-align: justify;">Name of Director</div>
                </td>
                <td style="vertical-align: top; width: 2%; padding-bottom: 2px;" colspan="1">&#160;</td>
                <td style="width: 18%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                  <div style="text-align: center;">Audit</div>
                </td>
                <td style="vertical-align: top; width: 2%; padding-bottom: 2px;" colspan="1">&#160;</td>
                <td style="width: 18%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                  <div style="text-align: center;">Compensation</div>
                </td>
                <td style="vertical-align: top; width: 2%; padding-bottom: 2px;" colspan="1">&#160;</td>
                <td style="width: 18%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                  <div style="text-align: center;">Nominating</div>
                </td>
              </tr>
              <tr>
                <td style="width: 40%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: justify; font-style: italic;">Non-Employee Directors:</div>
                </td>
                <td style="vertical-align: top; background-color: rgb(204, 238, 255); text-align: center; width: 2%;" colspan="1">&#160;</td>
                <td style="width: 18%; vertical-align: top; background-color: rgb(204, 238, 255); text-align: center;">&#160;</td>
                <td style="vertical-align: top; background-color: rgb(204, 238, 255); text-align: center; width: 2%;" colspan="1">&#160;</td>
                <td style="width: 18%; vertical-align: top; background-color: rgb(204, 238, 255); text-align: center;">&#160;</td>
                <td style="vertical-align: top; background-color: rgb(204, 238, 255); text-align: center; width: 2%;" colspan="1">&#160;</td>
                <td style="width: 18%; vertical-align: top; background-color: rgb(204, 238, 255); text-align: center;">&#160;</td>
              </tr>
              <tr>
                <td style="width: 40%; vertical-align: top;">
                  <div style="text-align: justify; text-indent: -9pt; margin-left: 18pt;">Vicki Cantrell</div>
                </td>
                <td style="vertical-align: top; width: 2%;" colspan="1">&#160;</td>
                <td style="width: 18%; vertical-align: top;">&#160;</td>
                <td style="vertical-align: top; width: 2%;" colspan="1">&#160;</td>
                <td style="width: 18%; vertical-align: top;">
                  <div style="text-align: center;">X</div>
                </td>
                <td style="vertical-align: top; width: 2%;" colspan="1">&#160;</td>
                <td style="width: 18%; vertical-align: top;">
                  <div style="text-align: center;">C</div>
                </td>
              </tr>
              <tr>
                <td style="width: 40%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: justify; text-indent: -9pt; margin-left: 18pt;">Elaine D. Crowley</div>
                </td>
                <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 2%;" colspan="1">&#160;</td>
                <td style="width: 18%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: center;">X</div>
                </td>
                <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 2%;" colspan="1">&#160;</td>
                <td style="width: 18%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
                <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 2%;" colspan="1">&#160;</td>
                <td style="width: 18%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
              </tr>
              <tr>
                <td style="width: 40%; vertical-align: top;">
                  <div style="text-align: justify; text-indent: -9pt; margin-left: 18pt;">Jefferson Gramm</div>
                </td>
                <td style="vertical-align: top; width: 2%;" colspan="1">&#160;</td>
                <td style="width: 18%; vertical-align: top;">&#160;</td>
                <td style="vertical-align: top; width: 2%;" colspan="1">&#160;</td>
                <td style="width: 18%; vertical-align: top;">
                  <div style="text-align: center;">X</div>
                </td>
                <td style="vertical-align: top; width: 2%;" colspan="1">&#160;</td>
                <td style="width: 18%; vertical-align: top;">
                  <div style="text-align: center;">X</div>
                </td>
              </tr>
              <tr>
                <td style="width: 40%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: justify; text-indent: -9pt; margin-left: 18pt;">Sharon M. Leite</div>
                </td>
                <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 2%;" colspan="1">&#160;</td>
                <td style="width: 18%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: center;">X</div>
                </td>
                <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 2%;" colspan="1">&#160;</td>
                <td style="width: 18%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: center;">C</div>
                </td>
                <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 2%;" colspan="1">&#160;</td>
                <td style="width: 18%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
              </tr>
              <tr>
                <td style="width: 40%; vertical-align: top;">
                  <div style="text-align: justify; text-indent: -9pt; margin-left: 18pt;">James Pappas</div>
                </td>
                <td style="vertical-align: top; width: 2%;" colspan="1">&#160;</td>
                <td style="width: 18%; vertical-align: top;">
                  <div style="text-align: center;">C</div>
                </td>
                <td style="vertical-align: top; width: 2%;" colspan="1">&#160;</td>
                <td style="width: 18%; vertical-align: top;">&#160;</td>
                <td style="vertical-align: top; width: 2%;" colspan="1">&#160;</td>
                <td style="width: 18%; vertical-align: top;">
                  <div style="text-align: center;">X</div>
                </td>
              </tr>
              <tr>
                <td style="width: 40%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: justify; text-indent: -9pt; margin-left: 18pt;">Sejal Patel</div>
                </td>
                <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 2%;" colspan="1">&#160;</td>
                <td style="width: 18%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: center;">X</div>
                </td>
                <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 2%;" colspan="1">&#160;</td>
                <td style="width: 18%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
                <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 2%;" colspan="1">&#160;</td>
                <td style="width: 18%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: center;">X</div>
                </td>
              </tr>
              <tr>
                <td style="width: 40%; vertical-align: top;">
                  <div style="text-align: justify; text-indent: -9pt; margin-left: 18pt;">William Warren</div>
                </td>
                <td style="vertical-align: top; width: 2%;" colspan="1">&#160;</td>
                <td style="width: 18%; vertical-align: top;">&#160;</td>
                <td style="vertical-align: top; width: 2%;" colspan="1">&#160;</td>
                <td style="width: 18%; vertical-align: top;">&#160;</td>
                <td style="vertical-align: top; width: 2%;" colspan="1">&#160;</td>
                <td style="width: 18%; vertical-align: top;">
                  <div style="text-align: center;">X</div>
                </td>
              </tr>
              <tr>
                <td style="width: 40%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: justify; font-style: italic; text-indent: -9pt; margin-left: 9pt;">Employee Director:</div>
                </td>
                <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 2%;" colspan="1">&#160;</td>
                <td style="width: 18%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
                <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 2%;" colspan="1">&#160;</td>
                <td style="width: 18%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
                <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 2%;" colspan="1">&#160;</td>
                <td style="width: 18%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
              </tr>
              <tr>
                <td style="width: 40%; vertical-align: top;">
                  <div style="text-align: justify; text-indent: -9pt; margin-left: 18pt;">Janet Carr</div>
                </td>
                <td style="vertical-align: top; width: 2%;" colspan="1">&#160;</td>
                <td style="width: 18%; vertical-align: top;">&#160;</td>
                <td style="vertical-align: top; width: 2%;" colspan="1">&#160;</td>
                <td style="width: 18%; vertical-align: top;">&#160;</td>
                <td style="vertical-align: top; width: 2%;" colspan="1">&#160;</td>
                <td style="width: 18%; vertical-align: top;">&#160;</td>
              </tr>
              <tr>
                <td style="width: 40%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: justify; text-indent: -9pt; margin-left: 9pt;">Number of Meetings in Fiscal 2020</div>
                </td>
                <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 2%;" colspan="1">&#160;</td>
                <td style="width: 18%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: center; color: rgb(0, 0, 0);">7</div>
                </td>
                <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 2%;" colspan="1">&#160;</td>
                <td style="width: 18%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: center;">1</div>
                </td>
                <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 2%;" colspan="1">&#160;</td>
                <td style="width: 18%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: center;">0</div>
                </td>
              </tr>

          </table>
          <div> <br>
          </div>
        </div>
        <div style="text-align: justify; text-indent: 31.5pt;">
          <hr noshade="noshade" align="left" style="background-color: #000000; border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0px auto 0px 0px; height: 1px; width: 12%; color: #000000; text-align: left;"></div>
        <div style="text-align: justify;">X = Committee member; C = Committee Chairman</div>
        <div><br>
        </div>
        <div style="font-style: italic;">Nominating Committee</div>
        <div><br>
        </div>
        <div style="text-align: justify;">We have a Nominating Committee consisting of five directors, all of whom except for Mr. Warren are &#8220;independent&#8221; under the listing requirements of Nasdaq.&#160; The Nominating Committee did not meet during 2020.</div>
        <div><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber">7</font></div>
          <div style="page-break-after: always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <div style="text-align: justify;">The Board of Directors has adopted a written charter for the Nominating Committee, which is available on our website at <u>www.tandyleather.com</u>.&#160; This charter provides that the Nominating Committee is
          responsible for identifying individuals qualified to become directors consistent with criteria as may be established by the Board of Directors.&#160; The charter also provides that the Nominating Committee shall take into account such additional
          factors as it deems appropriate in evaluating candidates.&#160; These factors may include strength of character, mature judgment, career specialization, relevant technical skills, diversity and the extent to which a candidate would fill a present need
          on the Board of Directors.&#160; In addition, the charter states that the Nominating Committee will consider stockholder recommendations of director nominees, as well as nominations by our senior officers.&#160; The Nominating Committee evaluates all
          director nominees in a like manner without regard as to who recommended the nomination.&#160; Traditionally, we have not engaged third parties to identify or evaluate potential directors or to assist in that process.&#160; In addition, the Nominating
          Committee makes a review and evaluation periodically of the Board of Directors and the Nominating Committee&#8217;s own performance.&#160; Further, the Nominating Committee recommends persons to serve on the Nominating Committee as members, as well as the
          possible removal of any incumbent Nominating Committee members.</div>
        <div><br>
        </div>
        <div style="text-align: justify;">Stockholders may nominate director nominees for consideration by writing to our Secretary at 1900 Southeast Loop 820, Fort Worth, Texas&#160; 76140-1003.&#160; Any such nomination must include:</div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zbe8106b930c74d93a5147c692e84d673">

            <tr>
              <td style="width: 0.05pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top;">&#8226;</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>As to each person whom the stockholder proposes to nominate for election or re-election as a director, all information relating to such person that is required to be disclosed in solicitations of proxies for election of directors, or
                  as otherwise required, in each case pursuant to Regulation 14A under the Securities Exchange Act of 1934, as amended, or any successor regulation thereto (including such person&#8217;s written consent to being named in the proxy statement as a
                  nominee and to serving as a director if elected); and</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z85667341a5aa4974b12a53a01fad2dd6">

            <tr>
              <td style="width: 0.05pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top;">&#8226;</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>The nominating stockholder&#8217;s name and address, as they appear on our books, and the class and number of our shares beneficially owned by him.</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div style="text-align: justify;">The Nominating Committee recommended to the Board of Directors that all eight director nominees listed in this information statement serve as directors for a term ending on the date of the 2022 Annual Meeting of
          Stockholders.<a name="z_Hlk480358644"></a></div>
        <div style="text-align: justify;"> <br>
        </div>
        <div style="text-align: justify;">The Nominating Committee will consider nominees for directors recommended by our stockholders and will evaluate such nominees using the same criteria used to evaluate director candidates as described above.
          Nominations of persons for election to the Board of Directors may be made by any stockholder entitled to vote for the election of directors at the applicable meeting that complies with the notice procedures set forth in our bylaws. Such
          nominations shall be made pursuant to timely notice in writing to our Secretary. To be timely, a stockholder&#8217;s notice shall be delivered to or mailed and received at our principal executive offices not less than 30 days nor more than 60 days
          prior to the applicable meeting; provided, however, that if less than 40 days&#8217; notice or prior public disclosure of the date of the meeting is given or made to stockholders, notice by the stockholders to be timely must be so received not later
          than the close of business on the 10<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">th</sup> day following the date on which such notice of the date of the meeting was mailed or such public disclosure was made. Any adjournment(s) or postponement(s) of the original meeting whereby the
          meeting will reconvene within 30 days from the original date shall be deemed for purposes of notice to be a continuation of the original meeting and no nominations by a stockholder of persons to be elected directors may be made at any such
          reconvened meeting other than pursuant to a notice that was timely for the meeting on the date originally scheduled. The stockholder&#8217;s notice shall set forth: (i) as to each person whom the stockholder proposes to nominate for election or
          re-election as a director, all information relating to such person that is required to be disclosed in solicitations of proxies for election of directors, or as otherwise required, in each case pursuant to Regulation 14A under the Securities
          Exchange Act of 1934, as amended, or any successor regulation thereto (including such person&#8217;s written consent to being named in the proxy statement as a nominee and to serving as a director if elected); and (ii) as to the stockholder giving
          notice (a) the name and address, as they appear on our books, of such stockholder, and (b) the class and number of our shares that are beneficially owned by such stockholder.</div>
        <div><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber">8</font></div>
          <div style="page-break-after: always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <div style="text-align: justify; font-style: italic;">Compensation Committee</div>
        <div><br>
        </div>
        <div style="text-align: justify;">The Compensation Committee is responsible for recommending to the Board of Directors the compensation program of the executive officers.&#160; The Compensation Committee consists of three directors, all of whom are
          &#8220;independent&#8221; under the listing requirements of Nasdaq. The Compensation Committee submits all issues concerning executive compensation to the full Board of Directors for approval.&#160; It may not delegate this authority.&#160; The Board of Directors has
          adopted a written charter for the Compensation Committee, which is available on our website at <u>www.tandyleather.com</u>.&#160; The Compensation Committee met one<font style="color: rgb(155, 187, 89);">&#160;</font>time during 2020.</div>
        <div style="text-align: justify;"> <br>
        </div>
        <div style="text-align: justify; font-style: italic;">Audit Committee</div>
        <div><br>
        </div>
        <div style="text-align: justify;">The Audit Committee&#8217;s basic role is to assist the Board of Directors in fulfilling its fiduciary responsibility pertaining to our accounting policies and reporting practices.&#160; Among other duties, the Audit
          Committee is to be the Board of Directors&#8217; principal agent in assuring the independence of our outside auditor, the integrity of management, and the adequacy of disclosures to stockholders.&#160; The Audit Committee has been structured to comply with
          the requirements of Section 3(a)(58)(A) of the Exchange Act.&#160; The Board of Directors has determined that all members of the Audit Committee are &#8220;independent&#8221; under the applicable rules of the Nasdaq and that James Pappas, Chairman of the Audit
          Committee, qualifies as an &#8220;audit committee financial expert&#8221; within the meaning of Item 407(d)(5) of Regulation S-K.&#160; The Board of Directors has adopted a written charter for the Audit Committee, which is available on our website at <u>www.tandyleather.com</u>.&#160;


          The Audit Committee met <font style="color: rgb(0, 0, 0);">seven</font> times during 2020.&#160; The Report of the Audit Committee for the fiscal year ended December 31, 2020 appears below.</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-style: italic;">Audit Fees</div>
        <div><br>
        </div>
        <div style="text-align: justify;">Weaver &amp; Tidwell performed the audit of our 2018 financial statements, as well as the reviews of the financial statements included in our Forms 10-Q during 2018 and the first quarter of 2019.&#160; They also have
          performed services in connection with the pending restatement of our 2017 &#8211; 2018 financial statements and with the pending preparation of financial statements for periods since January 1, 2019.&#160; The amounts shown below are the aggregate amounts
          paid to Weaver during 2020 and 2019 for services in the categories indicated.</div>
        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" border="0" align="left" id="z0adc7bbfe4d3461385f8aa3ed3d773c0" style="width: 100%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

              <tr>
                <td valign="bottom" style="vertical-align: top; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);">
                  <div style="text-align: justify; font-weight: bold;">Types of Fees</div>
                </td>
                <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;">&#160;</td>
                <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                  <div style="text-align: center; font-weight: bold;">2020</div>
                </td>
                <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;">&#160;</td>
                <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;">&#160;</td>
                <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                  <div style="text-align: center; font-weight: bold;">2019</div>
                </td>
                <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;">&#160;</td>
              </tr>
              <tr>
                <td valign="bottom" style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);">
                  <div style="text-align: justify;">Audit fees</div>
                </td>
                <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
                <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                  <div>$</div>
                </td>
                <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                  <div>352,691</div>
                </td>
                <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
                <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
                <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                  <div>$</div>
                </td>
                <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                  <div>125,850</div>
                </td>
                <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              </tr>
              <tr>
                <td valign="bottom" style="vertical-align: top; width: 76%;">
                  <div style="text-align: justify;">Audit-related fees</div>
                </td>
                <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                  <div>-</div>
                </td>
                <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
                <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                  <div>-</div>
                </td>
                <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              </tr>
              <tr>
                <td valign="bottom" style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);">
                  <div style="text-align: justify;">Tax fees</div>
                </td>
                <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
                <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
                <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                  <div>-</div>
                </td>
                <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
                <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
                <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
                <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                  <div>-</div>
                </td>
                <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              </tr>
              <tr>
                <td valign="bottom" style="vertical-align: top; width: 76%; padding-bottom: 2px;">
                  <div style="text-align: justify;">All other fees</div>
                </td>
                <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
                <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                  <div>-</div>
                </td>
                <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
                <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
                <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                  <div>-</div>
                </td>
                <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
              </tr>
              <tr>
                <td valign="bottom" style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255); padding-bottom: 4px;">
                  <div style="text-align: justify;">Total</div>
                </td>
                <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px;">&#160;</td>
                <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);">
                  <div>$</div>
                </td>
                <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);">
                  <div>352,691</div>
                </td>
                <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px;">&#160;</td>
                <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px;">&#160;</td>
                <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);">
                  <div>$</div>
                </td>
                <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);">
                  <div>125,850</div>
                </td>
                <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px;">&#160;</td>
              </tr>

          </table>
        </div>
        <div style="clear: both;"><br>
        </div>
        <div style="text-align: justify;">In accordance with the charter of our Audit Committee as in effect at the relevant times and the rules of the SEC, the Audit Committee approved all of the fees indicated above before the services were provided,
          except for the portions of the 2019 and 2020 fees relating to the financial restatement of the prior years, which were not able to be determined before the services were begun.&#160; The Audit Committee considered the services listed above to be
          compatible with maintaining Weaver&#8217;s independence.</div>
        <div><br>
        </div>
        <div style="text-align: center; font-style: italic; font-weight: bold;"><u>Report of the Audit Committee</u></div>
        <div><br>
        </div>
        <div style="text-align: justify;">As members of the Audit Committee, we oversee Tandy Leather Factory, Inc.&#8217;s financial reporting process on behalf of the Board of Directors.&#160; Management is responsible for the preparation, presentation, and
          integrity of our financial statements, accounting and financial reporting principles, internal controls, and procedures designed to ensure compliance with accounting standards, applicable laws, and regulations.</div>
        <div><br>
        </div>
        <div style="text-align: justify;">During 2020 we recommended, and the Board of Directors approved, the appointment of Weaver as independent auditors for the year ended December 31, 2020.&#160; Our auditors are responsible for performing an independent
          audit of the consolidated financial statements and expressing an opinion on the conformity of those audited financial statements with accounting principles generally accepted in the United States.</div>
        <div><br>
        </div>
        <div style="text-align: justify;">The Audit Committee has received from Weaver the written disclosures and the letter required by the applicable requirements of the PCAOB regarding Weaver&#8217;s communications with the Audit Committee concerning
          independence and the Audit Committee has discussed with Weaver their independence from us and our management.</div>
        <div><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber">9</font></div>
          <div style="page-break-after: always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <div style="text-align: justify;">As previously disclosed, in October 2019 the Company&#8217;s management, in consultation with the Audit Committee, determined that the Company&#8217;s previously issued Consolidated Financial Statements for the years 2017 and
          2018 and quarterly periods between January 1, 2017 and March 31, 2019 should no longer be relied upon due to misstatements related to the Company&#8217;s accounting processes for inventory transactions.&#160; The Company undertook to make the necessary
          accounting corrections and restate such financial statements.&#160; Because that financial restatement in still in progress, the Company&#8217;s financial statements for 2020 have not yet been completed, and Weaver has not yet completed its audit of our
          2020 financial statements.&#160; The Company and Weaver are working diligently to complete this restatement, and we intend that Weaver&#8217;s audit of our 2020 financial statements will be completed shortly following the filing of our restatement.</div>
        <div><br>
        </div>
        <div style="text-align: justify;">The foregoing report was submitted by the Audit Committee and shall not be deemed to be &#8220;soliciting material&#8221; or to be &#8220;filed&#8221; with the SEC or subject to Regulation 14A promulgated by the SEC or Section 18 of the
          Exchange Act.</div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zaea5f22d115a47848570c2026b9b9b1b">

            <tr>
              <td style="width: 50%; vertical-align: top;" colspan="1">&#160;</td>
              <td style="vertical-align: top;" colspan="2" rowspan="1">
                <div style="text-align: justify;">AUDIT COMMITTEE:</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;" colspan="1">&#160;</td>
              <td style="width: 3%; vertical-align: top;" colspan="1">&#160;</td>
              <td style="width: 47%; vertical-align: top;">
                <div style="text-align: justify;">James Pappas, <font style="font-style: italic;">Chairman</font></div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;" colspan="1">&#160;</td>
              <td style="width: 3%; vertical-align: top;" colspan="1">&#160;</td>
              <td style="width: 47%; vertical-align: top;">
                <div style="text-align: justify;">Elaine D. Crowley</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;" colspan="1">&#160;</td>
              <td style="width: 3%; vertical-align: top;" colspan="1">&#160;</td>
              <td style="width: 47%; vertical-align: top;">
                <div style="text-align: justify;">Sharon M. Leite</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;" colspan="1">&#160;</td>
              <td style="width: 3%; vertical-align: top;" colspan="1">&#160;</td>
              <td style="width: 47%; vertical-align: top;">
                <div style="text-align: justify;">Sejal Patel</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div style="text-align: center; font-weight: bold;">COMPENSATION DISCUSSION AND ANALYSIS</div>
        <div><br>
        </div>
        <div style="text-align: justify;">The primary focus of our executive compensation programs is to improve our performance year over year and over a longer-term period.&#160; The compensation programs were designed to provide the tools necessary to hire
          executives with the skills needed to manage Tandy Leather Factory, Inc. to meet these goals and to retain them over the long-term.&#160; In developing the programs, a key consideration was to have plans that were easy to understand and administer,
          while being competitive with companies of similar size and philosophy.&#160; Over the past several years, management and the Compensation Committee have worked to refine the compensation programs used to ensure that they support these goals and our
          ongoing business objectives.&#160; Our philosophy has been to reward team performance, measured by our overall results.&#160; Each executive officer&#8217;s compensation is linked to their individual contribution toward increases in the size of our operations,
          our income, and increases in stockholder value.&#160; At the 2020 Annual Meeting, stockholders were asked to approve Tandy Leather Factory, Inc.&#8217;s 2019 executive compensation programs.&#160; Approximately 99% of the shares voted approved the program.&#160; In
          consideration of these results and other factors the the Compensation Committee evaluates on a regular basis, the Compensation Committee concluded that Tandy Leather Factory, Inc.&#8217;s existing executive compensation programs continue to be
          appropriate to support Tandy Leather Factory, Inc.&#8217;s compensation philosophy and objectives described in this discussion.</div>
        <div><br>
        </div>
        <div style="text-align: justify;">Compensation for our executive officers consists of the following components:</div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z92ff6f7ed01e4f698a60c1d4b1b1ee0b">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top;">&#8226;</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>Base salary;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z3900dc55d37d415c9daa40f8d002ce3f">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top;">&#8226;</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>Annual incentive bonus;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z8c432fef905443e892309ada321825fc">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top;">&#8226;</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>Restricted stock unit grants;</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze7ef40231397459485807aec5c72fc88">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top;">&#8226;</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>Retirement and other benefits, and</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z744df850917d4c448de637f3224b4d3a">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top;">&#8226;</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>Employment Agreements.</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div style="text-align: justify; text-indent: -21.45pt; margin-left: 21.45pt;">Each of these elements of pay is described below.</div>
        <div><br>
        </div>
        <div style="text-align: justify;"><font style="font-style: italic;">Company Performance.</font>&#160; In 2020, Tandy Leather Factory, Inc.&#8217;s sales decreased approximately 15% from 2019, as the Company&#8217;s entire fleet of stores was temporarily shut down
          by the COVID-19 pandemic.&#160; Because of the ongoing financial restatement, the Company has not yet announced (as of the date of this information statement) its full-year gross profits or operating expenses for 2020.</div>
        <div><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber">10</font></div>
          <div style="page-break-after: always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <div style="text-align: justify; font-style: italic;">Base Salary</div>
        <div><br>
        </div>
        <div style="text-align: justify;">Base salaries are intended to reward our executive officers based upon their roles within Tandy Leather Factory, Inc. and for their performance in those roles.&#160; Base salaries are established when an executive
          officer is hired, based on prior experience and compared to salaries for comparable positions in other companies.&#160; Base salaries are generally increased annually, if market factors dictate such increases and assuming our financial performance is
          satisfactory.&#160; The Company did not increase, and temporarily lowered because of the COVID-19 pandemic, base salaries for its executive officers during 2020.</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-style: italic;">Bonuses</div>
        <div><br>
        </div>
        <div style="text-align: justify;">We award discretionary bonuses to our executive officers, as determined by the Compensation Committee.&#160; We determine these bonuses on a subjective basis, considering business prospects for the upcoming year and the
          improvement in our net income and financial position for the year in question.&#160; These discretionary bonuses are awarded annually and paid in the first quarter of the following year.&#160; We did not award any bonuses to our executive officers for
          2020.</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-style: italic;">Restricted Stock Unit Grants</div>
        <div><br>
        </div>
        <div style="text-align: justify;">We award restricted stock unit grants to promote long-term retention of executive officers and permit them to accumulate equity ownership in Tandy Leather Factory, Inc., so that the interests of our management team
          are directly aligned with the interest of our stockholders.&#160; We believe it is important to have an element of compensation that is focused directly on retaining talent so that we can minimize potential loss of company and industry knowledge and
          the disruption inherent in unplanned turnovers.&#160; Restricted stock unit grants also align our executive officers with our stockholders by making them stockholders themselves.&#160; Retaining talent and aligning interests encourages our executive
          officers to take actions to enhance the value of our business and increase stockholder value.&#160; Time-based restricted stock unit awards generally vest equally over four years.&#160; We did not grant any restricted stock units to our Chief Executive
          Officer during 2020.&#160; In July 2020, the Company awarded Steven Swank, its Chief Financial Officer, a new-hire grant of restricted stock units valued at $30,000, which were scheduled to vest one year after the grant date; these units were
          cancelled when Mr. Swank left the Company in March 2021.</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-style: italic;">Retirement and Other Benefits</div>
        <div><br>
        </div>
        <div style="text-align: justify;">Our benefits program includes a retirement plan and a group insurance program.&#160; The objective of the program is to provide executive officers with reasonable and competitive levels of protection against the four
          contingencies (retirement, death, disability and ill health) that could interrupt the executive officer&#8217;s employment and/or income received as an active employee.&#160; Our retirement plans are designed to provide a competitive level of retirement
          income to our executive officers and to reward them for continued service with Tandy Leather Factory, Inc.&#160; The retirement program for executive officers consists of a tax-qualified 401(k) Plan that covers all full-time employees.&#160; The group
          insurance program consists of life and health insurance benefits plans that cover all full-time employees.</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-style: italic;">Employment Agreement with Ms. Carr</div>
        <div><br>
        </div>
        <div style="text-align: justify;">We have entered into an employment agreement with Janet Carr, CEO, dated as of October 2, 2018.&#160;&#160; Under this agreement, <font style="color: rgb(0, 0, 0);">Ms. Carr is entitled to receive an annual base salary of
            $500,000 and is eligible to receive an annual discretionary bonus, as determined by the Board.&#160; Also under this agreement, On October 2, 2018, Ms. Carr received: (i) a time-based equity grant of 460,000 restricted stock units (&#8220;RSUs&#8221;) that vest
            over five years from the date of the grant; (ii) a performance-based equity grant of 92,000 RSUs that will vest if/when the Company&#8217;s operating income exceeds $12 million dollars two fiscal years in a row; and (iii) a performance-based equity
            grant of 92,000 RSUs that will vest if/when the Company&#8217;s operating income exceeds $14 million dollars in one fiscal year.&#160; Ms. Carr was also reimbursed for reasonable costs and expenses in connection with her commute and relocation from New
            York to Texas in 2019.&#160; If Ms. Carr&#8217;s employment is terminated by the Company without Cause or by Ms. Carr for Good Reason (each as defined in her employment agreement), Ms. Carr would receive twelve months of base salary and an annual
            reimbursement of COBRA payments and vest in a pro-rata portion of the time-based RSUs, based on the number of days that Ms. Carr is employed.&#160; Any unvested performance-based RSUs would be forfeited.&#160; In the event that Ms. Carr&#8217;s employment is
            terminated by the Company without Cause or by Ms. Carr for Good Reason within six months prior to or one year after a Change in Control (as defined in her employment agreement), Ms. Carr would receive thirty-six months of base salary and an
            annual reimbursement of COBRA payments and vest in a pro-rata portion of the time-based RSUs, based on the number of days that Ms. Carr had been employed.&#160; Any unvested performance-based RSUs would be forfeited.&#160; </font>Under this agreement, a
          &#8220;Change in Control&#8221; is a defined term that includes a merger, a sale of all or substantially all of our assets or a similar transaction involving us, a third party acquiring more than 50% of our shares which includes, in general, a person or
          entity becoming a 50% or greater stockholder of us, a covered removal of directors on our board of directors, or our liquidation or dissolution.</div>
        <div><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber">11</font></div>
          <div style="page-break-after: always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <div style="text-align: justify; font-style: italic;">Change in Control Effect on other Restricted Stock Units</div>
        <div><br>
        </div>
        <div style="text-align: justify;">Our 2013 Restricted Stock Plan (which does not include the grants to Ms. Carr described above) also provides for accelerated vesting in the event of a &#8220;change of control&#8221;, whose meaning is materially the same as a
          Change in Control described above for Ms. Carr&#8217;s employment agreement.&#160; Except to the extent that the Compensation Committee provides a result more favorable to holders of awards, in the event of a change of control, restricted stock units that
          are not vested before a change of control will vest on the date of the change of control.</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-style: italic;">Separation and Release Agreement with Steven Swank</div>
        <div><br>
        </div>
        <div style="text-align: justify;">We entered into a Separation and Release Agreement with Steven Swank, the Company&#8217;s Chief Financial Officer from July 2020 until January 2021, dated as of January 6, 2021.&#160; Pursuant to this agreement, Mr. Swank
          remained with the Company until March 5, 2021 (the &#8220;Separation Date&#8221;) to assist with transition.&#160; During this period, Mr. Swank continued to receive his base salary of $275,000 per year and continued to participate in all company health and
          retirement plans and other benefits programs.&#160; The Company also agreed not to seek reimbursement from Mr. Swank for relocation or health insurance-related payments totalling $44,544 made to Mr. Swank at the time of his hire.</div>
        <div><br>
        </div>
        <div style="font-style: italic; font-weight: bold;"><u>Compensation Committee Report</u></div>
        <div><br>
        </div>
        <div style="text-align: justify;">The Compensation Committee has reviewed and discussed the foregoing Compensation Discussion and Analysis (&#8220;CD&amp;A&#8221;) with management.</div>
        <div><br>
        </div>
        <div style="text-align: justify;">The foregoing report was submitted by the Compensation Committee and shall not be deemed to be &#8220;soliciting material&#8221; or to be &#8220;filed&#8221; with the SEC or subject to Regulation 14A promulgated by the SEC, other than as
          provided in Item 407 of Regulation S-K, or to the liabilities of Section 18 of the Exchange Act.</div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z7cada48903874a7cbbafbfb5e02b7f0d">

            <tr>
              <td style="vertical-align: top; width: 50%;" colspan="1">&#160;</td>
              <td style="vertical-align: top;" colspan="2" rowspan="1">
                <div style="text-align: justify;">COMPENSATION COMMITTEE:</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 50%;" colspan="1">&#160;</td>
              <td style="vertical-align: top; width: 2%;" colspan="1">&#160;</td>
              <td style="width: 48%; vertical-align: top;">
                <div style="text-align: justify;">Sharon M. Leite, <font style="font-style: italic;">Chair</font></div>
                <div style="text-align: justify;">Vicki Cantrell</div>
                <div style="text-align: justify;">Jefferson Gramm</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div style="text-align: center; font-weight: bold;">COMPENSATION TABLES AND OTHER INFORMATION</div>
        <div><br>
        </div>
        <div style="text-align: justify;">The following table includes information required by Item 402 of Regulation S-K promulgated by the SEC.&#160; The amounts shown represent the compensation paid to our named executive officers for each fiscal year noted
          in the table, for services rendered to us.&#160; For a more complete discussion of the elements of compensation included in this table, please refer to the discussion reflected in &#8220;Compensation Discussion and Analysis&#8221; above.</div>
        <div><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber">12</font></div>
          <div style="page-break-after: always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <div style="text-align: center; font-weight: bold;"><u> SUMMARY COMPENSATION TABLE</u></div>
        <div style="text-align: center; font-weight: bold;"><u> <br>
          </u></div>
        <div>
          <table cellspacing="0" cellpadding="0" id="zcfa208bb46f14b0eb3f4ed0e585a0cd4">

              <tr>
                <td style="border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); -moz-border-top-colors: none; -moz-border-right-colors: none; -moz-border-bottom-colors: none; -moz-border-left-colors: none; border-image: none; width: 26.47%; vertical-align: top;">
                  <div style="text-align: left; color: rgb(0, 0, 0); font-size: 10pt;">Name and Principal</div>
                  <div style="text-align: left; color: rgb(0, 0, 0); font-size: 10pt;"> Position</div>
                </td>
                <td style="border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); -moz-border-top-colors: none; -moz-border-right-colors: none; -moz-border-bottom-colors: none; -moz-border-left-colors: none; border-image: none; width: 7.8%; vertical-align: bottom; text-align: center;">
                  <div style="color: rgb(0, 0, 0); font-size: 10pt;">Year</div>
                </td>
                <td style="border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); -moz-border-top-colors: none; -moz-border-right-colors: none; -moz-border-bottom-colors: none; -moz-border-left-colors: none; border-image: none; width: 11.44%; vertical-align: bottom; text-align: center;">
                  <div style="color: rgb(0, 0, 0); font-size: 10pt;">Salary</div>
                </td>
                <td style="border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); -moz-border-top-colors: none; -moz-border-right-colors: none; -moz-border-bottom-colors: none; -moz-border-left-colors: none; border-image: none; width: 13.43%; vertical-align: bottom; text-align: center;">
                  <div style="color: rgb(0, 0, 0); font-size: 10pt;">Bonus</div>
                </td>
                <td style="border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); -moz-border-top-colors: none; -moz-border-right-colors: none; -moz-border-bottom-colors: none; -moz-border-left-colors: none; border-image: none; width: 13.4%; vertical-align: bottom; text-align: center;">
                  <div style="color: rgb(0, 0, 0); font-size: 10pt;">Restricted Stock Awards</div>
                </td>
                <td style="border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); -moz-border-top-colors: none; -moz-border-right-colors: none; -moz-border-bottom-colors: none; -moz-border-left-colors: none; border-image: none; width: 15.23%; vertical-align: bottom; text-align: center;">
                  <div style="color: rgb(0, 0, 0); font-size: 10pt;">All Other </div>
                  <div style="color: rgb(0, 0, 0); font-size: 10pt;">Compensation</div>
                </td>
                <td style="border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); -moz-border-top-colors: none; -moz-border-right-colors: none; -moz-border-bottom-colors: none; -moz-border-left-colors: none; border-image: none; width: 12.23%; vertical-align: bottom; text-align: center;">
                  <div style="color: rgb(0, 0, 0); font-size: 10pt;">Total</div>
                </td>
              </tr>
              <tr>
                <td style="border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); -moz-border-top-colors: none; -moz-border-right-colors: none; -moz-border-bottom-colors: none; -moz-border-left-colors: none; border-image: none; width: 26.47%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="color: rgb(0, 0, 0); font-size: 10pt;">Janet Carr, Chief Executive Officer (1)</div>
                </td>
                <td style="border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); -moz-border-top-colors: none; -moz-border-right-colors: none; -moz-border-bottom-colors: none; -moz-border-left-colors: none; border-image: none; width: 7.8%; vertical-align: top; background-color: rgb(204, 238, 255); font-size: 10pt;">
                  <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman';">2020</div>
                  <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman';">2019</div>
                  <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman';">2018<br>
                  </div>
                </td>
                <td style="border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); -moz-border-top-colors: none; -moz-border-right-colors: none; -moz-border-bottom-colors: none; -moz-border-left-colors: none; border-image: none; width: 11.44%; vertical-align: top; background-color: rgb(204, 238, 255); font-size: 10pt;">
                  <div style="text-align: center; font-family: 'Times New Roman';">$361,574</div>
                  <div style="text-align: center; font-family: 'Times New Roman';"> $500,000</div>
                  <div style="text-align: center; font-family: 'Times New Roman';">$113,010</div>
                </td>
                <td style="border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); -moz-border-top-colors: none; -moz-border-right-colors: none; -moz-border-bottom-colors: none; -moz-border-left-colors: none; border-image: none; width: 13.43%; vertical-align: top; background-color: rgb(204, 238, 255); font-size: 10pt;">
                  <div style="text-align: center; font-family: 'Times New Roman';">$&#160; &#160; &#160; &#160; -</div>
                  <div style="text-align: center; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</div>
                  <div style="text-align: center; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -<br>
                  </div>
                </td>
                <td style="border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); -moz-border-top-colors: none; -moz-border-right-colors: none; -moz-border-bottom-colors: none; -moz-border-left-colors: none; border-image: none; width: 13.4%; vertical-align: top; background-color: rgb(204, 238, 255); font-size: 10pt;">
                  <div style="text-align: center; font-family: 'Times New Roman';">$&#160; &#160; &#160; &#160; &#160; &#160;&#160; -</div>
                  <div style="text-align: center; font-family: 'Times New Roman';"> &#160; &#160; &#160; &#160;&#160;&#160;&#160; &#160; &#160; -</div>
                  <div style="text-align: center; font-family: 'Times New Roman';">$4,759,160</div>
                </td>
                <td style="border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); -moz-border-top-colors: none; -moz-border-right-colors: none; -moz-border-bottom-colors: none; -moz-border-left-colors: none; border-image: none; width: 15.23%; vertical-align: top; background-color: rgb(204, 238, 255); font-size: 10pt;">
                  <div style="text-align: center; font-family: 'Times New Roman';"> $10,000 (3)</div>
                  <div style="text-align: center; font-family: 'Times New Roman';">$20,230 (3)</div>
                  <div style="text-align: center; font-family: 'Times New Roman';">&#160; &#160; &#160; &#160; &#160; &#160; &#160; -<br>
                  </div>
                </td>
                <td style="border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); -moz-border-top-colors: none; -moz-border-right-colors: none; -moz-border-bottom-colors: none; -moz-border-left-colors: none; border-image: none; width: 12.23%; vertical-align: top; background-color: rgb(204, 238, 255); font-size: 10pt;">
                  <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman';"> $371,574</div>
                  <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman';">$520,230</div>
                  <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman';">$4,872,170</div>
                </td>
              </tr>
              <tr>
                <td style="border: 2px solid rgb(0, 0, 0); width: 26.47%; vertical-align: top; background-color: rgb(255, 255, 255);">
                  <div style="color: rgb(0, 0, 0); font-size: 10pt;">Steven Swank, Chief Financial Officer (2)</div>
                </td>
                <td style="border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); -moz-border-top-colors: none; -moz-border-right-colors: none; -moz-border-bottom-colors: none; -moz-border-left-colors: none; border-image: none; width: 7.8%; vertical-align: top; background-color: rgb(255, 255, 255); font-size: 10pt;">
                  <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman';">2020</div>
                </td>
                <td style="border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); -moz-border-top-colors: none; -moz-border-right-colors: none; -moz-border-bottom-colors: none; -moz-border-left-colors: none; border-image: none; width: 11.44%; vertical-align: top; background-color: rgb(255, 255, 255); font-size: 10pt;">
                  <div style="text-align: center; font-family: 'Times New Roman';">$123,077</div>
                </td>
                <td style="border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); -moz-border-top-colors: none; -moz-border-right-colors: none; -moz-border-bottom-colors: none; -moz-border-left-colors: none; border-image: none; width: 13.43%; vertical-align: top; background-color: rgb(255, 255, 255); font-size: 10pt;">
                  <div style="text-align: center; font-family: 'Times New Roman';">$&#160; &#160; &#160; &#160; -</div>
                </td>
                <td style="border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); -moz-border-top-colors: none; -moz-border-right-colors: none; -moz-border-bottom-colors: none; -moz-border-left-colors: none; border-image: none; width: 13.4%; vertical-align: top; background-color: rgb(255, 255, 255); font-size: 10pt; text-align: center;">&#160;$30,000</td>
                <td style="border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); -moz-border-top-colors: none; -moz-border-right-colors: none; -moz-border-bottom-colors: none; -moz-border-left-colors: none; border-image: none; width: 15.23%; vertical-align: top; background-color: rgb(255, 255, 255); font-size: 10pt;">
                  <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman';">$44,544 (4)</div>
                </td>
                <td style="border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); -moz-border-top-colors: none; -moz-border-right-colors: none; -moz-border-bottom-colors: none; -moz-border-left-colors: none; border-image: none; width: 12.23%; vertical-align: top; background-color: rgb(255, 255, 255); font-size: 10pt;">
                  <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman';">$197,621</div>
                </td>
              </tr>

          </table>
        </div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z38b1e7ba13fa471486334823c80682a3">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18.75pt; vertical-align: top;">(1)</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>In October 2018, Ms. Carr was appointed CEO with an annual salary of $500,000.&#160; In addition, Ms. Carr was granted 644,000 restricted stock units; the amount reported as the value of these restricted stock units is based on the grant
                  date fair value of $7.39 per share, computed in accordance with FASB ASC Topic 718.</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zfc23ca0828f34e3782137741375d2547">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18.75pt; vertical-align: top;">(2)</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>In July 2020, Mr. Swank was granted restricted stock units valued on the grant date at $30,000 based on the grant date fair value of $3.31 per share, computed in accordance with FASB ASC Topic 718.&#160; Mr. Swank&#8217;s position as an executive
                  officer of the Company terminated in January 2021, although he continued to remain employed by the Company in a non-executive-officer capacity until March 2021, at which time these restricted stock units were cancelled.</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd8eb46462c6043ae8f410dec4141c505">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18.75pt; vertical-align: top;">(3)</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>For 2019, represents Company-reimbursed moving expenses for Ms. Carr.&#160; For 2020, represents matching funds contributed to Ms. Carr&#8217;s Company 401(k) plan.</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zef8964e7cad44cb393dbc1d9a704203b">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18.75pt; vertical-align: top;">(4)</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>Represents $42,376 paid by the Company to Mr. Swank for his relocation to Texas and $2,168 reimbursed to Mr. Swank for extending his health insurance coverage from his prior employer.</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div style="text-align: center; font-weight: bold;">GRANTS OF PLAN-BASED AWARDS</div>
        <div><br>
        </div>
        <div style="text-align: justify;">The Company did not grant any plan-based or non-plan-based equity awards to its Chief Executive Officer during 2020.&#160; In July 2020, the Company awarded Steven Swank, its Chief Financial Officer, a new-hire grant of
          restricted stock units valued at $30,000, which were scheduled to vest one year after the grant date; these units were cancelled when Mr. Swank left the Company in March 2021.</div>
        <div><br>
        </div>
        <div style="text-align: center; font-weight: bold;">OUTSTANDING STOCK AWARDS</div>
        <div style="text-align: center; font-weight: bold;">as of December 31, 2020</div>
        <div style="text-align: center; font-weight: bold;"> <br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" border="0" id="z01832ba34e94491b89db970967208857" style="width: 100%;">

              <tr>
                <td style="border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); -moz-border-top-colors: none; -moz-border-right-colors: none; -moz-border-bottom-colors: none; -moz-border-left-colors: none; border-image: none; width: 33.33%; vertical-align: bottom; text-align: left;">
                  <div style="font-size: 10pt;">Name</div>
                </td>
                <td style="border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); -moz-border-top-colors: none; -moz-border-right-colors: none; -moz-border-bottom-colors: none; -moz-border-left-colors: none; border-image: none; width: 34%; vertical-align: top; font-size: 10pt;">
                  <div style="text-align: center;">Number of shares of stock</div>
                  <div style="text-align: center;">that have not vested (#)</div>
                </td>
                <td style="border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); -moz-border-top-colors: none; -moz-border-right-colors: none; -moz-border-bottom-colors: none; -moz-border-left-colors: none; border-image: none; width: 33.33%; vertical-align: top; font-size: 10pt;">
                  <div style="text-align: center;">Market value of shares of stock</div>
                  <div style="text-align: center;">that have not vested ($)</div>
                </td>
              </tr>
              <tr>
                <td style="border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); -moz-border-top-colors: none; -moz-border-right-colors: none; -moz-border-bottom-colors: none; -moz-border-left-colors: none; border-image: none; width: 33.33%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: justify; font-size: 10pt;">Janet Carr (1)</div>
                </td>
                <td style="border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); -moz-border-top-colors: none; -moz-border-right-colors: none; -moz-border-bottom-colors: none; -moz-border-left-colors: none; border-image: none; width: 34%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: center; color: rgb(0, 0, 0); font-size: 10pt;">460,000</div>
                </td>
                <td style="border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); -moz-border-top-colors: none; -moz-border-right-colors: none; -moz-border-bottom-colors: none; -moz-border-left-colors: none; border-image: none; width: 33.33%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: center; color: rgb(0, 0, 0); font-size: 10pt;">$1,472,000</div>
                </td>
              </tr>
              <tr>
                <td style="border: 2px solid rgb(0, 0, 0); width: 33.33%; vertical-align: top; background-color: rgb(255, 255, 255); font-size: 10pt;">Steven Swank (2)</td>
                <td style="border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); -moz-border-top-colors: none; -moz-border-right-colors: none; -moz-border-bottom-colors: none; -moz-border-left-colors: none; border-image: none; width: 34%; vertical-align: top; background-color: rgb(255, 255, 255);">
                  <div style="text-align: center; font-size: 10pt;">9,063<br>
                  </div>
                </td>
                <td style="border-top: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); -moz-border-top-colors: none; -moz-border-right-colors: none; -moz-border-bottom-colors: none; -moz-border-left-colors: none; border-image: none; width: 33.33%; vertical-align: top; background-color: rgb(255, 255, 255);">
                  <div style="text-align: center; font-size: 10pt;">$29,002</div>
                </td>
              </tr>

          </table>
        </div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z899ac2b40bd248e081782c9d40591a33">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; font-weight: bold;">(1)</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>Vesting is subject to Ms. Carr&#8217;s continued employment with the Company and to the achievement of performance criteria set forth in 184,000 performance-based restricted stock award units granted to her in 2018.</div>
              </td>
            </tr>

        </table>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z024b07d707824bae9f5167354bb18aef">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; font-weight: bold;">(2)</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>All stock awards held by Mr. Swank were cancelled upon his departure from the Company in March 2021.</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div style="font-weight: bold;">PROPOSAL TWO:&#160; ADVISORY VOTE ON EXECUTIVE COMPENSATION (&#8220;SAY-ON-PAY&#8221; VOTE)</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-weight: bold;"><u>The Board of Directors recommends a vote &#8220;FOR&#8221; the advisory approval of the executive compensation of our named executive officers as disclosed in this information statement.</u></div>
        <div><br>
        </div>
        <div style="text-align: justify;">Based upon a vote of stockholders at our 2017 Annual Meeting, following the Board of Directors&#8217; recommendation for an annual advisory vote to approve the compensation of our named executive officers, we are
          providing stockholders with an annual advisory vote on executive compensation. The Dodd-Frank Wall Street Reform and Consumer Protection Act (the &#8220;Dodd-Frank Act&#8221;), which was signed into law July 21, 2010, added Section 14A to the Securities
          Exchange Act of 1934, as amended, and requires that we provide our stockholders with an opportunity to cast an advisory vote on the compensation of our named executive officers as disclosed in this information statement pursuant to the
          compensation disclosure rules of the SEC. This proposal, commonly known as a &#8220;Say-on-Pay&#8221; vote, gives stockholders the opportunity to approve, reject or abstain from voting with respect to our fiscal 2020 executive compensation programs and
          policies and the compensation paid to our named executive officers.</div>
        <div><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber">13</font></div>
          <div style="page-break-after: always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <div style="text-align: justify;">As discussed in this information statement under the heading &#8220;Compensation Discussion and Analysis,&#8221; our executive compensation program is designed to serve us and our stockholders by aligning executive
          compensation with stockholder interests and by encouraging and rewarding management initiatives that will benefit us and our stockholders, customers, and employees over the long-term.</div>
        <div><br>
        </div>
        <div style="text-align: justify;">At last year&#8217;s annual meeting, approximately 99% of the votes cast on the advisory vote on executive compensation were in favor of our named executive officer compensation for 2019.&#160; We are asking our stockholders
          to again indicate their support for our named executive officer compensation as described in this information statement.&#160; This is not intended to address any specific item of compensation, but rather the overall compensation of our named
          executive officers and the philosophy, policies and practices described in this information statement.&#160; Accordingly, we are asking our stockholders to approve, on an advisory basis, the following resolution:</div>
        <div><br>
        </div>
        <div style="text-align: justify;">&#8220;RESOLVED, that the stockholders of Tandy Leather Factory, Inc. approve, on an advisory basis, the compensation paid to the named executive officers of Tandy Leather Factory, Inc., as disclosed in the 2021
          information statement pursuant to the compensation disclosure rules of the SEC, including the Compensation Discussion and Analysis, the compensation tables, and the related narrative disclosures.&#8221;</div>
        <div><br>
        </div>
        <div style="text-align: justify;">Approval of this proposal requires the affirmative vote of the holders of a majority of the shares entitled to vote on, and who vote for and against, this proposal.&#160; Although your vote on this matter is advisory in
          nature and therefore will not be binding upon Tandy Leather Factory, Inc., the Compensation Committee or the Board of Directors, your advisory vote will serve as an additional tool to guide the Board of Directors and the Compensation Committee in
          continuing to improve the alignment of our executive compensation programs with the interests of us and our stockholders.&#160; The vote on this resolution is not intended to address any specific element of compensation but rather relates to overall
          compensation of our named executive officers, as described in this information statement in accordance with the compensation disclosure rules of the SEC.</div>
        <div style="text-align: center; font-weight: bold;"> <br>
        </div>
        <div style="text-align: center; font-weight: bold;">RELATIONSHIPS AND TRANSACTIONS WITH RELATED PERSONS</div>
        <div><br>
        </div>
        <div style="text-align: justify;">On January 28, 2021, the Company entered into an agreement with Central Square Management (the &#8220;Seller&#8221;), an institutional shareholder of more than 5% of the Company&#8217;s common stock, to repurchase 500,000 shares of
          the Company&#8217;s common stock in a private transaction.&#160; The purchase price was $3.35 per share and $1,675,000 in total.&#160; The closing of the repurchase of those shares took place on February 1, 2021.&#160; Prior to the repurchase, the Shares represented
          approximately 5.5% of the Company&#8217;s outstanding common stock.&#160; The Company believes that the transaction was an arm&#8217;s length transaction, at the then-current market price for the Company&#8217;s common stock and otherwise on favorable terms to the
          Company.</div>
        <div><br>
        </div>
        <div style="text-align: justify;">For our last two fiscal years, there have been no other transactions, and there is no currently proposed transaction, in which we were or are to be a participant and the amount involved exceeds the lesser of
          $120,000 or one percent (1%) of the average of our total assets at year-end for our last two most recently completed fiscal years, and in which any related person, as defined under Item 404(a) of Regulation S-K, had or will have a direct or
          indirect material interest.&#160; Such related persons include our directors, executive officers, nominees for director, any beneficial owner of more than five percent (5%) of our common stock, and their immediate family members.</div>
        <div><br>
        </div>
        <div style="text-align: justify;">Our Code of Business Conduct, which applies to all employees, including our executive officers and our directors, provides that our employees and officers and members of our Board of Directors are expected to use
          sound judgment to help us maintain appropriate compliance procedures and to carry out our business with honesty and in compliance with law and high ethical standards.&#160; In addition, our directors and officers are expected to report any potential
          related party transactions to the Board of Directors.&#160; Our Audit Committee, on behalf of the Board of Directors, reviews the material facts of all reported matters, by taking into account, among other factors it deems appropriate, whether a
          transaction is on terms no less favorable than terms generally available to an unaffiliated third-party under the same or similar circumstances and the extent of the related person&#8217;s interest in the transaction to determine whether an actual
          conflict of interest exists.&#160; No director may participate in any discussion or approval of a matter for which he or she is a related party.&#160; An annual review and assessment of any ongoing relationship with a related party is performed by the
          Audit Committee and reported to the Board of Directors.</div>
        <div><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber">14</font></div>
          <div style="page-break-after: always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <div style="text-align: center; font-weight: bold;">SECTION 16(a) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE</div>
        <div><br>
        </div>
        <div style="text-align: justify;">Sections 16(a) of the Securities Exchange Act of 1934, as amended, requires our directors, executive officers and holders of more than 10% of our common stock to file reports regarding their ownership and changes
          in ownership of our securities with the SEC.&#160; Based solely on a review of the copies of such reports and amendments thereto furnished to us with respect to fiscal 2020 and written representations from our directors and executive officers, we
          believe that, during fiscal 2020, our directors, executive officers and 10% stockholders complied with all Section 16(a) filing requirements, except that a Form 3 and Form 4 were not filed reporting Steven Swank&#8217;s initial ownership upon joining
          the Company as Chief Financial Officer and an initial grant of restricted stock units made to him (which was reported on a Form 8-K).</div>
        <div><br>
        </div>
        <div style="text-align: center; font-weight: bold;">EQUITY COMPENSATION PLANS</div>
        <div><br>
        </div>
        <div style="text-align: justify;">The following table sets forth information regarding our equity compensation plans (including individual compensation arrangements) that authorize the issuance of shares of our common stock.&#160; The information is
          aggregated in two categories: plans previously approved by our stockholders and plans not approved by our stockholders.&#160; The table includes information for officers, directors, employees and non-employees.&#160; All information is as of December 31,
          2020.</div>
        <div style="text-align: justify;"> <br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" border="0" id="z1abece8bcf6a4ff19b4cdad777f4237d">

              <tr>
                <td style="width: 28%; vertical-align: middle; font-size: 10pt; text-align: left;">
                  <div>&#160;</div>
                  <div>&#160;</div>
                  <div>&#160;</div>
                  <div style="font-weight: bold;">Plan Category</div>
                </td>
                <td style="width: 24%; text-align: center; vertical-align: bottom; font-size: 10pt;">
                  <div style="font-family: 'Times New Roman'; font-weight: bold;">Column (A)</div>
                  <div style="font-family: 'Times New Roman'; font-weight: bold;">Number of Securities </div>
                  <div style="font-family: 'Times New Roman'; font-weight: bold;">to be issued upon </div>
                  <div style="font-family: 'Times New Roman'; font-weight: bold;">exercise of </div>
                  <div style="font-family: 'Times New Roman'; font-weight: bold;">outstanding options, </div>
                  <div style="font-family: 'Times New Roman'; font-weight: bold;">warrants and rights</div>
                </td>
                <td style="width: 24%; text-align: center; vertical-align: bottom; font-size: 10pt;">
                  <div style="font-family: 'Times New Roman'; font-weight: bold;">Column (B)</div>
                  <div style="font-family: 'Times New Roman'; font-weight: bold;">Weighted-average </div>
                  <div style="font-family: 'Times New Roman'; font-weight: bold;">exercise price of </div>
                  <div style="font-family: 'Times New Roman'; font-weight: bold;">outstanding </div>
                  <div style="font-family: 'Times New Roman'; font-weight: bold;">options, warrants </div>
                  <div style="font-family: 'Times New Roman'; font-weight: bold;">and rights</div>
                </td>
                <td style="width: 24%; text-align: center; vertical-align: bottom; font-size: 10pt;">
                  <div style="font-family: 'Times New Roman'; font-weight: bold;">Column (C)</div>
                  <div style="font-family: 'Times New Roman'; font-weight: bold;">Number of securities</div>
                  <div style="font-family: 'Times New Roman'; font-weight: bold;"> remaining available for future </div>
                  <div style="font-family: 'Times New Roman'; font-weight: bold;">issuance under equity</div>
                  <div style="font-family: 'Times New Roman'; font-weight: bold;"> compensation plans </div>
                  <div style="font-family: 'Times New Roman'; font-weight: bold;">(excluding securities reflected </div>
                  <div style="font-family: 'Times New Roman'; font-weight: bold;">in Column (A)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 28%; vertical-align: top; border-top-color: rgb(0, 0, 0); border-top-width: 2px; border-top-style: solid; background-color: rgb(204, 238, 255);">
                  <div style="font-size: 10pt;">Equity compensation plans approved by stockholders</div>
                </td>
                <td style="width: 24%; vertical-align: top; border-top-color: rgb(0, 0, 0); border-top-width: 2px; border-top-style: solid; background-color: rgb(204, 238, 255);">
                  <div style="text-align: center; font-size: 10pt;">61,215</div>
                </td>
                <td style="width: 24%; vertical-align: top; border-top-color: rgb(0, 0, 0); border-top-width: 2px; border-top-style: solid; background-color: rgb(204, 238, 255);">
                  <div style="text-align: center; font-size: 10pt;">&#160;$ -</div>
                </td>
                <td style="width: 24%; vertical-align: top; border-top-color: rgb(0, 0, 0); border-top-width: 2px; border-top-style: solid; background-color: rgb(204, 238, 255);">
                  <div style="text-align: center; font-size: 10pt;">&#160;630,202</div>
                </td>
              </tr>
              <tr>
                <td style="width: 28%; vertical-align: top; background-color: rgb(255, 255, 255);">
                  <div style="font-size: 10pt;">Equity compensation plans not approved by stockholders</div>
                </td>
                <td style="width: 24%; vertical-align: top; background-color: rgb(255, 255, 255); font-size: 10pt; text-align: center;">460,000</td>
                <td style="width: 24%; vertical-align: top; background-color: rgb(255, 255, 255);">
                  <div style="text-align: center; font-size: 10pt;">&#160;-</div>
                </td>
                <td style="width: 24%; vertical-align: top; background-color: rgb(255, 255, 255);">
                  <div style="text-align: center; font-size: 10pt;">&#160;-</div>
                </td>
              </tr>
              <tr>
                <td style="width: 28%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: justify; font-size: 10pt;">TOTAL</div>
                </td>
                <td style="width: 24%; vertical-align: top; border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 2px; border-bottom-width: 4px; border-top-style: solid; border-bottom-style: double; background-color: rgb(204, 238, 255);">
                  <div style="text-align: center; font-size: 10pt;">521,215</div>
                </td>
                <td style="width: 24%; vertical-align: top; border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 2px; border-bottom-width: 4px; border-top-style: solid; border-bottom-style: double; background-color: rgb(204, 238, 255);">
                  <div style="text-align: center; font-size: 10pt;">$-</div>
                </td>
                <td style="width: 24%; vertical-align: top; border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 2px; border-bottom-width: 4px; border-top-style: solid; border-bottom-style: double; background-color: rgb(204, 238, 255);">
                  <div style="text-align: center; font-size: 10pt;">630,202</div>
                </td>
              </tr>

          </table>
        </div>
        <div><br>
        </div>
        <div style="text-align: center; font-weight: bold;">OTHER MATTERS</div>
        <div style="font-style: italic;">Solicitation of Proxies</div>
        <div><br>
        </div>
        <div style="text-align: justify;">The Company will not be soliciting proxies in connection with its 2021 Annual Meeting but will pay for all other costs in connection with the meeting.</div>
        <div><br>
        </div>
        <div style="font-style: italic;">Stockholder Proposals for 2021 and 2022</div>
        <div><br>
        </div>
        <div style="text-align: justify;">If you wish to present a proposal for consideration at an annual meeting, you must send written notice of the proposal to our Secretary not less than ten days before such annual meeting.&#160; We have not received
          notice of any stockholder proposals to be presented at this year&#8217;s Annual Meeting.&#160; Pursuant to our bylaws, we must receive written notice of a stockholder proposal on or before June 21, 2020 for such proposal to be considered at this year&#8217;s
          Annual Meeting.</div>
        <div><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber">15</font></div>
          <div style="page-break-after: always;" id="DSPFPageBreak">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <div style="text-align: justify;">If you would like your proposal to be included in next year&#8217;s proxy statement, you must submit the proposal to our Secretary by no later than February 3, 2022, or, if we hold our next annual meeting on a date that
          is more than 30 days from the anniversary of our 2021 Annual Meeting, a reasonable time before we begin to print and send our proxy materials.&#160; We will include your proposal in our next annual proxy statement if it is a proposal that we would be
          required to include pursuant to the rules of the SEC.&#160; You may write to our Secretary at 1900 Southeast Loop 820, Fort Worth, Texas 76140-1003 to present a proposal for consideration.</div>
        <div><br>
        </div>
        <div style="text-align: justify;">See &#8220;Nominating Committee&#8221; under &#8220;Committees of the Board of Directors&#8221; for the process for stockholders to follow to suggest a director candidate to the Nominating Committee for nomination by the Board of
          Directors or to nominate persons for election to our Board of Directors at an applicable meeting of our stockholders.</div>
        <div><br>
        </div>
        <div style="text-align: justify;">According to our by-laws, any proposal properly raised at the Annual Meeting by a stockholder will require the affirmative vote of a majority of the shares deemed present at the Annual Meeting, whether in person or
          by proxy unless a higher approval threshold is required by applicable law.</div>
        <div><br>
        </div>
        <div style="font-style: italic;">Stockholder Communications with Board of Directors</div>
        <div><br>
        </div>
        <div style="text-align: justify;">Stockholders who wish to communicate with the Chairman or with the directors as a group may do so by writing to our Secretary at Tandy Leather Factory, Inc., 1900 Southeast Loop 820, Fort Worth, Texas 76140-1003.&#160;
          Our Secretary will forward your communication to the directors or Chairman of the Board as requested by the stockholder.&#160; All appropriate communications addressed to directors will be reviewed by our Secretary.&#160; Because other appropriate avenues
          of communication exist for matters that are not of stockholder interest, such as general business complaints or employee grievances, communications that do not relate to matters of stockholder interest will not be forwarded to the Board of
          Directors.&#160; Our Secretary has the option, but not the obligation, to forward these other communications to appropriate channels within Tandy Leather Factory, Inc.</div>
        <div><br>
        </div>
        <div style="text-align: justify;">Management knows of no other business to be brought before the 2021 Annual Meeting of Stockholders.</div>
        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; color: #000000; width: 100%;" id="z7cdb5ae7c3f34fdeb873cf4d969462c5">

              <tr>
                <td style="width: 50%;"><br>
                </td>
                <td style="width: 50%;">TANDY LEATHER FACTORY, INC.</td>
              </tr>
              <tr>
                <td style="width: 50%;" rowspan="1">&#160;</td>
                <td style="width: 50%;" rowspan="1">&#160;</td>
              </tr>
              <tr>
                <td style="width: 50%;"><br>
                </td>
                <td style="width: 50%;"><img width="165" height="56" src="image1.jpg"></td>
              </tr>
              <tr>
                <td style="width: 50%;"><br>
                </td>
                <td style="width: 50%;">Chairman of the Board</td>
              </tr>
              <tr>
                <td style="width: 50%;" rowspan="1">&#160;</td>
                <td style="width: 50%;" rowspan="1">&#160;</td>
              </tr>
              <tr>
                <td style="width: 50%;">
                  <div style="text-align: justify;">Fort Worth, Texas</div>
                </td>
                <td style="width: 50%;"><br>
                </td>
              </tr>
              <tr>
                <td style="width: 50%;">
                  <div style="text-align: justify;">June 2, 2021</div>
                </td>
                <td style="width: 50%;"><br>
                </td>
              </tr>

          </table>
        </div>
        <div><br>
        </div>
        <div><br>
        </div>
      </div>
    </div>
  </div>
  <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber">16</font>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
