On June 7, 2013, Ashok Bakhru, a member of the Board of Directors of Apollo Investment Corporation and the chairman of the Board's Audit Committee, tendered a letter of resignation from the Board effective as of June 7, 2013, which was accepted by the Board. On June 7, 2013, the Board of the company elected R. Rudolph Reinfrank to the Board, effective as of June 14, 2013, to serve as a Class II to fill the vacancy created by the resignation of Mr. Bakhru, and elected Mr. Reinfrank to serve as chairman of the Board's Audit Committee, effective as of June 14, 2013.