On July 12, 2013, Seth Taube, the Chairman of the Board of Directors, Chief Executive Officer and President of the Sierra Income Corporation resigned from his position as President of the company. On the same date, the Board appointed Jeff Tonkel, a Principal of the Company's investment adviser, SIC Advisors LLC and a Partner of Medley LLC, to serve as the President of the Company in Mr. Taube's place. Taube remains the Chairman of the Board and Chief Executive Officer of the company.

Jeff Tonkel, 42, is a Principal of SIC Advisors and a Partner of Medley LLC. Tonkel serves on the investment committee and is a member of Medley LLC's Executive Management Committee.