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Gyrodyne LLC

The founder and former director of Gyrodyne, Peter James Papadakos (1914-1992), was the pioneer who perfected the American Coaxial helicopter design.

Upon purchasing the assets of the bankrupt Bendix Helicopter company, Mr. Papadakos founded Gyrodyne Company of America in 1946, to "Investigate advanced helicopter designs and development with the goal of producing a better rotary wing aircraft than any other being offered at that time".

On June 14, 1966, he formed the Flowerfield Properties wholly-owned subsidiary of the Gyrodyne Company for the purpose for holding certain assets of the company's property, investments and its limited partnership in the development of a 3,500 acre orange grove in West Palm Beach, Florida.

Gary J. Fitlin, age 56, was appointed President and Chief Executive Officer, effective May 1, 2017. Mr. Fitlin joined the Company in October 2009 as its Chief Financial Officer and Treasurer. From August 2012 through February 24, 2013, Mr. Fitlin served as interim President and Chief Executive Officer. Prior to joining the Company, he was Director of Accounting Implementation for Lexington Realty Trust, a publicly traded real estate investment trust on the NYSE, from July 2006 to March 2008, where he was responsible for mergers and acquisitions. Prior to that, he served as a senior financial officer for various publicly traded companies where he was responsible for mergers and acquisitions, global accounting, management reporting, tax compliance and planning, financial systems, risk management and contract administration. He is a Certified Public Accountant, an alumnus of Arthur Andersen & Co., and holds a BS degree in Accounting and Economics from the State University of New York at Oswego.

Directors and Officers
Paul L. Lamb
Jan Loeb
Richard B. Smith
Ronald J. Macklin
Nader G.M. Salour

Paul L. Lamb

Chairman of the Board of the Company

Paul L. LambPaul L. Lamb, age 76, has been a director since 1997 and became Chairman of the Board on March 14, 1999. He is a founding partner in the law firm of Lamb & Barnosky, LLP, where he has practiced law since 1984; a past President of the Suffolk County Bar Association; and a Dean of the Suffolk Academy of Law. He holds a B.A. from Tulane University, a J.D. from the University of Kentucky and an LL.M. from the University of London, England. The Board concluded that Mr. Lamb should serve as a director of the Company because he is an experienced attorney in all phases of finance and real estate development, which skill set brings extraordinary value in light of the Company's business and structure.