On and effective as of October 17, 2017, the Board of Directors of Ares Commercial Real Estate Corporation, increased the size of its Board from seven to eight members and appointed Kirk A. Sykes as an independent Class II director to fill the vacancy created by such increase. Mr. Sykes, 59, has served as Senior Vice President of New Boston Fund Inc., an independent, privately-owned real estate investment management firm, since September 2016.