On September 11, 2014, the board of directors of One Liberty Properties Inc. amended by-laws to increase the maximum number of directors authorized to serve on the board from 11 to 12, (ii) increased the number of directors authorized to serve on the Board from 11 to 12, and (iii) elected Leor Siri to fill the newly created directorship until the 2015 annual meeting of stockholders. Mr. Siri, age 42, an independent director, has served since April 2014 as chief financial officer and a member of the management committee of Silverstein Properties Inc., as chief financial officer of Ian Schrager Company from 2013 to 2014, as chief financial officer and member of the executive investment committee of Seavest Inc., from 2011 to 2013, as chief accounting officer, treasurer and director of Elad Group Ltd. from 2006 to 2011 and for approximately ten years prior thereto, in various capacities (including senior manager) at Ernst & Young, LLP. Mr. Siri, a certified public accountant, was also appointed to serve as a member of audit committee.