On September 9, 2014, the board of directors of American Realty Capital Properties, Inc. appointed Lisa E. Beeson, the company's current Chief Operating Officer, as President, effective October 1, 2014. David S. Kay, the company's current President, will assume the role of Chief Executive Officer on that date. Ms. Beeson will retain her role as Chief Operating Officer of the company as well.

Ms. Beeson has served as Executive Vice President and Chief Operating Officer of the company since November 2013. On September 9, 2014, Scott J. Bowman resigned from the board of directors of the company, and accordingly resigned from the company's Compensation Committee, Audit Committee and Nominating and Corporate Governance Committee. Mr. Bowman notified the company's board of directors that he would be pursuing a new full-time career opportunity.

Mr. Bowman's resignation did not result from a disagreement with the company.