Reid Sanders

W. Reid Sanders is an independent member of their Board and has served as a director of the Company since its inception. Since 2004, Mr. Sanders has served as the President of Sanders Properties, Inc., a real estate company. He has served as a director of Two Harbors Investment Corp. (NYSE: TWO), a hybrid mortgage real estate investment trust, since 2009, where he currently serves on the audit, compensation, and risk oversight committees. Since 2010, Mr. Sanders has served as a director of Mid-America Apartment Communities, Inc. (NYSE: MAA), a real estate investment trust that owns and operates apartment complexes, where he is currently a member of the audit committee. Mr. Sanders has been a member of the board of Independent Bank, a bank holding company, since 2004, where he is currently a member of the executive, nominating, and corporate governance, and strategic planning committees. He has served on the investment committee at Cypress Realty, a commercial real estate company, since 2002, and, since 2000, has been on the advisory board of SSM Venture Partners III, L.P., a private venture capital firm. Mr. Sanders was the chair of the board of Two Rivers Capital Management, financial planning, and investments firm, from 2004 to 2007, and his former directorships include those at Harbor Global Company Ltd., asset management, natural resources, and real estate investment company, from 2001 to 2006, Silver Bay Realty Trust Corp. (NYSE: SBY), a real estate investment trust, from 2015 to 2016, PioGlobal Asset Management, a private investment management company, from 2001 to 2006, The Pioneer Group Inc., a global investment management firm, from 1999 to 2000, and TBA Entertainment Corporation, strategic communications, and entertainment marketing company, from 2000 to 2004. He was co-founder and Executive Vice President of Southeastern Asset Management, Inc., a global investment management firm, and former President of Longleaf Partners Mutual Funds, from 1975 to 2000. He served as an Investment Officer at First Tennessee Investment Management, the investment management division of First Horizon National Corporation, a bank holding company, from 1973 to 1975. Mr. Sanders is chairman of the Hugo Dixon Foundation and a trustee of the Dixon Gallery and Gardens Endowment Fund, Dixon Gallery and Gardens, and the Tennessee Shakespeare Company, and is a former trustee of the Hutchison School, Rhodes College, The Jefferson Scholars Foundation, and the Campbell Clinic Foundation. Mr. Sanders received a B.A. in economics from the University of Virginia.