ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS;
APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF
CERTAIN OFFICERS.
On January 11, 2021, Bluerock Residential Growth REIT, Inc. (the "Company"), its
operating partnership, Bluerock Residential Holdings, L.P. (the "Operating
Partnership"), and the Operating Partnership's subsidiary, Bluerock REIT
Operator, LLC ("REIT Operator") entered into amendments (together, the
"Amendments") to the respective employment agreements (together, the "Executive
Agreements") of each of Ryan S. MacDonald, previously Chief Acquisitions Officer
of the Company, and James G. Babb, III, previously Chief Investment Officer of
the Company. Under the terms of the Amendments, effective as of January 11,
2021, Mr. MacDonald will serve as Chief Investment Officer of the Company, and
Mr. Babb will serve as Chief Strategy Officer of the Company, in each case to
more closely align with their current roles and responsibilities. No changes
were made to the compensatory arrangements of either of Messrs. MacDonald or
Babb in connection with the Amendments, and the terms of the Executive
Agreements of Messrs. MacDonald and Babb otherwise remain in full force and
effect pursuant to their terms.
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BLUEROCK RESIDENTIAL GROWTH REIT, INC. 
