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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 51, 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
Philip F. Palmedo
Elliot H. Levine
Richard B. Smith
Ronald J. Macklin
Nader G.M. Salour

Philip F. Palmedo

Chairman of International Resource Group

Philip F. Palmedo Philip F. Palmedo, age 78, was appointed to the Board of Directors in July 1996. Mr. Palmedo has been President of the management consulting firm Palmedo Associates since 1980 and from 1988 to 1991 was Managing Director and President of Kepler Financial Management. From 1978 to 2000, he was Chairman of International Resources Group, an international professional services firm, and from 1992 to 1997 was President of the Long Island Research Institute. He was a founder of all four companies. In addition, Mr. Palmedo has been a director of Lixte Biotechnology Holdings, Inc. since 2005. Mr. Palmedo has shepherded numerous fledgling businesses in financial and technological markets and completed several financing agreements. He received his B.A degree from Williams College and M.S. and Ph.D. degrees from M.I.T. The Board concluded that Mr. Palmedo should serve as a director of the Company because of his extensive background in successfully guiding a number of entities from initial formation to value recognition.