Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On June 18, 2021, Howard Liao submitted his resignation as Chief Executive
Officer and Chief Investment Officer of Medley Management Inc. ("MDLY"), Dean
Crowe submitted his resignation as President of MDLY, and David Richards
submitted his resignation as Chief Operating Officer and Chief Credit Officer of
MDLY, with each such resignation effective as of June 18, 2021. Replacements for
these positions at MDLY are not currently expected to be appointed at this time.
Following their resignations from their respective positions with MDLY, Mr. Liao
continues to serve as Chief Executive Officer and Chief Investment Officer of
Medley LLC, Mr. Crowe continues to serve as President of Medley LLC, and Mr.
Richards continues to serve as Chief Operating Officer and Chief Credit Officer
of Medley LLC.
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