Effective as of August 17, 2020, the Board of Directors of the Company appointed Erik L. Johnson Chief Financial Officer of American Realty Investors, Inc. Mr. Johnson most recently was Vice President of Financial Reporting of The Macerich Company in Santa Monica, California, a position he held for more than the past five years, from 2005 through June 2020. Mr. Johnson, a certified public accountant (“CPA”) from 2001-2005, was controller/Chief Accounting Officer of North American Scientific, Inc. based in Los Angeles, California, and from 2000- 2001, he was the controller of Launch Media, Inc. in Santa Monica, California.