Effective as of December 16, 2021, the Board of Directors of American Realty Investors, Inc. (the Company or the Issuer or ARL) appointed Bradley J. Muth as Chief Executive Officer of the Company. Mr. Muth most recently, from July 2019 to September 2021, was Senior Managing Director, Capital Markets and Development of ValueRock Realty Partners. Prior thereto, from December 2014 to June 2019, he was Senior Managing Director, Portfolio and Asset Management of Madison Marquette.