On April 27, 2020, Mr. Jon Jaffe notified the Board of Five Point Holdings, LLC of his intention not to stand for re-election at this Annual Meeting, and Rick Beckwitt also notified the Board of his intention to resign from the Board effective as of the date of the Annual Meeting. Messrs. Jaffe and Beckwitt indicated that they are resigning in order to dedicate more time to their respective responsibilities at Lennar Corporation and to allow the Company to further diversify its Board membership without having to increase the size of the Board.
Five Point Holdings, LLC designs and develops mixed-use planned communities in Orange County, Los Angeles County, and San Francisco County that combine residential, commercial, retail, educational, and recreational elements with public amenities, including civic areas for parks and open space. Its Valencia segment includes operating results related to the Valencia community and agricultural operations in Los Angeles and Ventura Counties, California. Its San Francisco segment includes operating results for the Candlestick and The San Francisco Shipyard communities. Its Great Park segment includes operating results for the Great Park Neighborhoods community and development management services provided by the management company for the Great Park Venture. Its Commercial segment includes the operating results of the Gateway Commercial Ventureâs ownership in the Five Point Gateway Campus and property management services provided by the management company for the Gateway Commercial Venture.
FIVE POINT HOLDINGS, LLC 
