Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. OnOctober 7, 2021 ,Julia Kholodenko notifiedStrategic Realty Trust, Inc. (the "Company") that she will resign as the Chief Accounting Officer of the Company, effectiveOctober 15, 2021 (the "Effective Date").Ms. Kholodenko's decision was based upon personal considerations and is unrelated in any manner to any past, present or contemplated accounting or finance issue or to any disagreement over accounting treatment or policy. EffectiveOctober 15, 2021 , the Board of Directors appointedRyan Hess , 32, to serve as Chief Accounting Officer of the Company. As Chief Accounting Officer,Mr. Hess will be the Company's principal accounting officer and will assume the responsibilities that were previously performed byMs. Kholodenko , who acted as principal accounting officer of the Company sinceApril 16, 2019 .Ryan Hess has served as Chief Financial Officer and Treasurer sinceMay 2021 .Mr. Hess serves as Controller ofL3 Capital LLC ("L3 Capital "), a position he has held sinceJanuary 2017 .L3 Capital is a real estate investment firm focused on institutional quality, value-add, prime urban retail and mixed-use investment within first-tierU.S. metropolitan markets.L3 Capital is an affiliate of PUR Management which is an affiliate ofPUR SRT Advisors LLC . SinceApril 1, 2021 ,PUR SRT Advisors LLC , has controlledSRT Advisor, LLC , the Company's external advisor. Since joiningL3 Capital in 2017,Mr. Hess has overseen all accounting, cash management, financial reporting, investor reporting, debt capital markets, and tax matters at both the corporate and investment levels.Mr. Hess also works withL3 Capital's asset management team to maximize operating and financial returns. FromApril 2013 toDecember 2016 ,Mr. Hess was an Assurance Manager inRSM US LLP's National Real Estate Group focusing on real estate private equity funds, developers, senior living operators, and joint venture structured investments. FromSeptember 2011 toApril 2013 ,Mr. Hess was a staff accountant withFGMK LLC focusing on audit and tax.Mr. Hess received a BS in Business with an emphasis in Accounting and Finance fromIndiana University .Mr. Hess is a Certified Public Accountant, licensed in the state ofIllinois .Mr. Hess is a member of theAmerican Institute of Certified Public Accountants (AICPA) and theIllinois CPA Society . Except through his officer position with the Company's external advisor,Mr. Hess has no direct or indirect material interest in any transaction, or series of similar transactions, since the beginning of the Company's last fiscal year, nor is he a party to any currently proposed transaction, or series of similar transactions, to which the Company or any of its subsidiaries was or is to be a party, in which the amount involved exceeds$120,000 .Mr. Hess does not receive any compensation directly from the Company for his services as Chief Financial Officer and Treasurer and Chief Accounting Officer.
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