United Development Funding IV (OTCMKTS:UDFI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02
Effective March 8, 2018, subsequent to the expiration of her employment contract on February 21, 2018, Stacey H. Dwyer voluntarily resigned as a member of the Board of Trustees (the “Board”) and Chief Operating Officer of United Development Funding IV (the “Trust”). Ms. Dwyer will remain as an employee of the Trust, and her resignation was not a result of any disagreement with the Board or the Trust on any matter relating to the Trust’s operations, policies or practices. As a result of Ms. Dwyer’s resignation, the Board now has four members, three of whom are independent trustees.
About United Development Funding IV (OTCMKTS:UDFI)
United Development Funding IV (the Trust) is an externally-managed real estate investment trust. The Trust provides investors with an opportunity to diversify their portfolios with fundamentally sound investments in residential real estate. The Trust invests primarily in secured loans for the acquisition and development of land into single-family home lots and the construction of model and new single-family homes. It also makes strategic equity investments in residential real estate in housing markets. The Trust primarily originates, purchases, participates in and holds for investment secured loans made directly by the Trust or indirectly through its affiliates to persons and entities for the acquisition and development of parcels of real property as single-family residential lots or mixed-use master planned residential communities, for the construction of single-family homes and for completed model homes. UMTH General Services, L.P. is the advisor of the Trust.