On December 15, 2020, Apartment Investment and Management Company completed the previously announced separation, which was effected by way of a pro rata distribution in which stockholders of Aimco received one share of Class A common stock of Apartment Income REIT Corp. (AIR) for every one share of Class A common stock of Aimco held as of the close of business on December 5, 2020, the record date for the REIT Distribution, and received cash in lieu of fractional shares of Class A common stock of AIR. AIMCO Properties, L.P. (AIR OP) also completed the previously announced separation, which was effected through a pro rata distribution (the OP Distribution) of all of the outstanding common limited partnership units of Aimco OP L.P. (Aimco OP) to holders of AIR OP common limited partnership units and AIR OP Class I High Performance partnership units as of the close of business on December 5, 2020, the record date for the OP Distribution. In connection with the Separation, the Board had taken actions to remove all the then-existing officers of AIR from the corporate offices of AIR and the following individuals were appointed by the Board to the corporate offices of AIR set forth opposite their respective names: Terry Considine named as Chief executive officer, Mr. Considine previously served as Chairman of the Board of directors and Chief Executive Officer of Aimco from July 1994 until the Separation.