Sierra Income Corporation announced that on July 18, 2018, Christopher M. Mathieu notified the company's board of directors of his intent to resign from his positions as chief financial officer, treasurer and secretary of Sierra Income Corporation, effective as of July 24, 2018. On July 21, 2018, the company's board of directors appointed Richard T. Allorto, Jr., to serve as chief financial officer, treasurer and secretary of Sierra Income Corporation, effective as of July 24, 2018. Richard T. Allorto, Jr., 46, has served as the chief financial officer of Medley Management Inc. since July 2010.

Mr. Allorto has also served as the chief financial officer and secretary of Medley Capital Corporation since January 2011. Mr. Allorto previously served as chief financial officer and secretary of Sierra Income Corporation from April 2012 until November 2016. Prior to joining Medley, Mr. Allorto held various positions at GSC Group Inc., a registered investment adviser, including, chief financial officer of GSC Investment Corp.