Mr. Nichols was elected Executive Chairman of our Board on August 22, 1996. On March 25, 2004, Mr. Nichols became Chairman Emeritus of our Board. Mr. Nichols founded The Nichols Company, a private real estate development company, through a corporate joint venture with Safeguard Scientifics, Inc. and was President and Chief Executive Officer from 1982 through August 22, 1996. From 1968 to 1982, Mr. Nichols was Senior Vice President of Colonial Mortgage Service Company (now GMAC Mortgage Corporation) and President of Colonial Advisors (the advisor to P.N.B. Mortgage and Realty Trust). Mr. Nichols has been a member of the National Association of Real Estate Investment Trusts (“NAREIT”), former member of the Board of Governors of the Mortgage Banking Association, Chairman of the Income Loan Committee of the regional Mortgage Bankers Association, and Chairman of the Executive Committee of the Greater Philadelphia Chamber of Commerce. He was Vice Chairman, a member of the Executive Committee, and a Trustee of Saint Joseph’s University, served as Chairman of the Development Committee, and currently is on the Advisory Board of the Haub School of Business. Mr. Nichols was a member of the Board of Directors of Fox Chase Bank, which was sold in 2016, and a member of the Fox Chase Board’s risk management and audit committees.