On March 11, 2020, James A. Henderson, a member of the board of directors of Ares Commercial Real Estate Corporation notified the Company that he will resign as a director of the Company effective as of the Company’s 2020 Annual Meeting of Stockholders, which is expected to be held on April 23, 2020. Mr. Henderson’s decision to resign as a director was based on the demands on his time from other professional commitments, and not the result of any disagreement relating to the Company’s operations, policies or practices.