Board of Directors

David Bistricer
Co-Chairman and Chief Executive Officer

David Bistricer has been the managing member of Clipper Equity for more than 10 years. He served as Co-Chairman of the board of directors of Coleman Cable Inc. from January 1999 through February 2011.

He was previously Co-Chairman of Riblet Products Corporation from January 1987 until its merger with the Coleman Cable Inc. in 2000. Mr. Bistricer brings to our board of directors industry experience, leadership abilities and strategic insight that make him a valuable asset as Co-Chairman of the board of directors and Chief Executive Officer. Mr. Bistricer has also been the managing member of Berkshire Capital LLC and Morgan Capital, real estate investment firms that are no longer active, for more than 10 years. He has also been the managing member and investor in a number of real estate investments unrelated to those of the Company, principally in the New York City area, since approximately 1978.

Sam Levinson
Co-Chairman, Head of Investment Committee

Sam Levinson is the Chief Investment Officer at Glick Family Investments, a private family office located in New York, New York, where he has overseen private equity investments since 2004.

He has been a member of the board of directors of Stonegate Mortgage Corporation (NYSE: SGM) since 2013, serving as Chairman of the Compensation Committee. Mr. Levinson has served as a director of Canary Wharf Group, a U.K. property developer and manager of over 16 million square feet of Class A office and retail space, since 2004, including as a member of the Operating Committee and Chairman of the Audit Committee. Mr. Levinson has also served as a non-executive director of Songbird Estates, Canary Wharf Group’s holding company, since 2004; of American European Group Insurance Company since 2006; and of Dynasty Financial Partners, LLC, which provides investment and technology platforms for independent financial, investment, and wealth management advisors, since 2011. Additionally, Mr. Levinson served as a director of Coleman Cable Inc., a manufacturer of wire and cable, from 2005 until its sale in 2014 and of West Coast Bancorp of Portland, Oregon from February 2011 until its sale in April 2013. Mr. Levinson’s wife is the niece of David Bistricer. We believe Mr. Levinson is qualified to serve as a Co-Chairman of our board of directors because he is an experienced executive and director with numerous years of experience in the financial and real estate industries.

Howard Lorber
Director

Howard M. Lorber is President and Chief Executive Officer and member of the board of directors of Vector Group Ltd. (NYSE: VGR) and Chairman of Douglas Elliman Realty, LLC, a majority-owned subsidiary of Vector Group, which operates the largest residential brokerage company in the New York City metropolitan area and the fourth-largest in the United States.

Mr. Lorber has been with Vector Group and its diversified interests since 1994. Mr. Lorber is also Chairman of the board of directors of Nathan’s Famous, Inc.; a director of United Capital Corp., a real estate investment and diversified manufacturing company; Vice Chairman of the board of directors of Ladenburg Thalmann Financial Services; and, until November 2016, Chairman of Morgans Hotel Group Co. Mr. Lorber brings to our board of directors his valuable expertise in the real estate and investment industries, including more than 25 years of experience serving on the board of a restaurant and real estate company.

Robert Ivanhoe
Director

Robert J. Ivanhoe is Chair of the 200+ lawyer Global Real Estate Practice and Co-Chair of the REIT group at Greenberg Traurig LLP, where he has worked since 1996. He concentrates his practice in sophisticated real estate structures, financings, workouts, restructurings, acquisitions and dispositions of all asset classes of real estate.

Mr. Ivanhoe is actively involved in real estate industry current affairs and is regularly asked to write and lecture on industry topics. He has been recognized by Chambers and Partners USA, The New York Observer and Real Estate New York as one of the leading real estate attorneys in New York City and throughout the United States. He has represented numerous nationally-recognized owner/developer and institutional lender/investor clients domestically and internationally for more than 30 years. Mr. Ivanhoe is a member of Greenberg Traurig LLP’s Executive Committee, Board of Directors and Operating Committee. Mr. Ivanhoe brings to our board of directors valuable expertise in the real estate industry.

Robert Verrone
Director

Roberto A. Verrone is a founder and principal owner of Iron Hound Management Company, which provides advisory and capital placement services in the commercial real estate industry.

Mr. Verrone began his career at Bear Stearns in 1990, which included time in the Commercial Real Estate Group. In 2001, he joined Wachovia Corporation following the merger of First Union and Wachovia, and in 2002 he became manager of Wachovia’s Large Loan Group. Prior to founding Iron Hound in early 2009, Mr. Verrone also served as Co-Head of Wachovia’s Real Estate Group, where he was responsible for managing approximately 600 employees and oversaw a debt portfolio valued in excess of $80 billion. Mr. Verrone received a Bachelor of Arts degree from Moravian College. Mr. Verrone brings to our board of directors his valuable expertise in the commercial real estate industry, in which he has more than 23 years of experience.

Harmon Spolan
Director

Harmon S. Spolan is currently of counsel to Cozen O’Connor, a law firm headquartered in Philadelphia, Pennsylvania; previously, he served as Chair of the firm’s Financial Services Practice Group. Prior to joining Cozen, Mr. Spolan served as President of Jefferson Bank, a commercial bank in Philadelphia, for 22 years.

Mr. Spolan currently serves as a member of the Board and the Audit Committee for American European Insurance Group, and as a member of the Credit Committee for the Alesco securities division of Cohen & Company. Previously, he served as a member of the Board and the Audit Committee for both Coleman Cable, Inc. and Atlas Energy. Mr. Spolan holds a law degree from the Temple University School of Law and a Bachelor of Arts degree from Temple University.

Richard Burger
Director

Richard N. Burger served as Chief Financial Officer, Executive Vice President, Secretary and Treasurer of Coleman Cable, Inc., from 1999 to 2013, after joining its predecessor company as Chief Financial Officer in 1996. Previously, he served as President and Chief Executive Officer of Burns Aerospace Corporation, a subsidiary of Eagle Industries, Inc.

He is a former member of the Board of A.M. Castle & Co. Mr. Burger holds a Masters of Business Administration degree from the University of Baltimore and a Bachelor of Science degree from Towson University.

Composition
Committee Composition

FULL BOARD

David Bistricer
Sam Levinson
Howard Lorber
Robert Verrone
Robert Ivanhoe
Richard Burger
Harmon Spolan

AUDIT COMMITTEE
Howard Lorber
Richard Burger
Harmon Spolan

COMPENSATION COMMITTEE
Howard Lorber
Richard Burger
Harmon Spolan

NOMINATING AND GOVERNANCE COMMITTEE
Robert Ivanhoe
Howard Lorber
Harmon Spolan

INVESTMENT COMMITTEE
Sam Levinson
David Bistricer
Robert Verrone
Robert Ivanhoe

2023
Ex-Dividend DateRecord DateAnnounce DatePay DateAmount
11/13/2023 11/14/2023 11/02/202311/22/2023$0.095
08/14/202308/15/2023 08/03/2023 08/23/2023$0.095
05/14/2023 05/15/202305/04/2023 05/24/2023 $0.095
03/26/2023 03/27/2023 03/16/2023 04/05/2023$0.095
Total dividends paid in 2023$0.38
2022
Ex-Dividend DateRecord DateAnnounce DatePay DateAmount
11/20/2022 11/21/2022 11/09/2022 11/25/2022$0.095
8/18/2022 8/19/2022 8/9/20228/26/2022$0.095
5/19/20225/20/20225/10/2022 5/27/2022$0.095
3/24/2022 3/25/20223/15/2022 3/31/2022$0.095
Total dividends paid in 2022$0.38
2021
Ex-Dividend DateRecord DateAnnounce DatePay DateAmount
11/15/202111/16/202111/09/202111/24/2021$0.095
8/18/20218/19/20218/09/20218/26/2021$0.095
5/19/20215/20/20215/10/2021 5/27/2021$0.095
3/25/20213/26/2021 3/16/20213/31/2021$0.095
Total dividends paid in 2021$0.38
2020
Ex-Dividend DateRecord DateAnnounce DatePay DateAmount
11/19/2020 11/20/202011/9/202011/27/2020$0.095
8/20/20208/21/2020 8/10/20208/28/2020$0.095
5/21/2020 5/22/20205/11/20205/29/2020$0.095
3/23/2020 3/24/2020 3/12/20203/31/2020$0.095
Total dividends paid in 2020$0.38