Effective December 12, 2013, the board of directors of Vestin Realty Mortgage I Inc. elected Mr. Fredrick J. Zaffarese Leavitt to serve as an independent director of the Company to fill one of the Board vacancies resulting from the resignations of Mr. Robert J. Aalberts and Mr. Daryl C. Idler, Jr. as members of the Board. The board also designated Mr. Zaffarese Leavitt as an audit committee financial expert as defined by the SEC regulations. The board also appointed current independent director, Donovan Jacobs, to the audit committee, compensation committee and nominating committee of the Board, and as chair of the compensation committee.