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David J. Gladstone
Chairman, Chief Executive Officer and President

Mr. Gladstone is our founder and has served as chief executive officer and chairman of the Board of Directors since our inception in 2003. He also founded and has served as chief executive officer and chairman of the Board of Directors of our affiliates Gladstone Capital Corporation, Gladstone Investment Corporation and Gladstone Management Corporation. Prior to founding the Company, Mr. Gladstone served as either chairman or vice chairman of the Board of Directors of American Capital, Ltd. (NASDAQ: ACAS), a publicly traded leveraged buyout fund and mezzanine debt finance company, from 1997 to 2001. From 1974 to 1997, Mr. Gladstone held various positions, including chairman and chief executive officer, with Allied Capital Corporation (NYSE: ALD), Allied Capital Corporation II, Allied Capital Lending Corporation and Allied Capital Advisors, Inc., a registered investment adviser that managed the Allied companies. The Allied companies were the largest group of publicly-traded mezzanine debt funds in the United States and were managers of two private venture capital limited partnerships. From 1991 to 1997, Mr. Gladstone served either as chairman of the Board of Directors or president of Allied Capital Commercial Corporation, a publicly traded REIT that invested in real estate loans to small and medium-sized businesses, managed by Allied Capital Advisors, Inc. He managed the growth of Allied Capital Commercial from no assets at the time of its initial public offering to $385 million in assets at the time it merged into Allied Capital Corporation in 1997. From 1992 to 1997, Mr. Gladstone served as a director, president and chief executive officer of Business Mortgage Investors, a privately held mortgage REIT managed by Allied Capital Advisors, which invested in real estate loans to small and medium-sized businesses. Mr. Gladstone is also a past director of Capital Automotive REIT, a real estate investment trust that purchases and net leases real estate to automobile dealerships. Mr. Gladstone served as a director of The Riggs National Corporation (the parent of Riggs Bank) from 1993 to May 1997 and of Riggs Bank from 1991 to 1993. He served as a trustee of the George Washington University and currently is trustee emeritus. He is a past member of the Listings and Hearings Committee of the National Association of Securities Dealers, Inc. Mr. Gladstone was the founder and managing member of The Capital Investors, LLC, a group of angel investors, and is currently a member emeritus. He is also the chairman and owner of Gladstone Land Corporation, a privately held company that has substantial farmland holdings in agriculture real estate in California. Mr. Gladstone holds an MBA from the Harvard Business School, an MA from American University and a BA from the University of Virginia. Mr. Gladstone has co-authored two books on financing for small and medium-sized businesses, Venture Capital Handbook and Venture Capital Investing.

Terry Lee Brubaker
Vice Chairman and Chief Operating Officer

Mr. Brubaker has served as our chief operating officer, secretary and a director since our inception in 2003 and as president from our inception through July 2007, when he assumed the duties of vice chairman. Mr. Brubaker has also served as the chief operating officer, secretary and director of Gladstone Management Corporation since its inception in 2003. He also served as president of Gladstone Management from its inception until assuming the duties of vice chairman in February 2006. Mr. Brubaker has served as the chief operating officer, secretary and a director of Gladstone Capital Corporation since May 2001. He also served as president of Gladstone Capital Corporation from May 2001 through April 2004, when he assumed the duties of vice chairman. Mr. Brubaker has also been the vice chairman, chief operating officer, secretary and a director of Gladstone Investment Corporation since its inception in June 2005. In March 1999, Mr. Brubaker founded and, until May 1, 2003, served as chairman of Heads Up Systems, a company providing processing industries with leading edge technology. From 1996 to 1999, Mr. Brubaker served as vice president of the paper group for the American Forest & Paper Association. From 1992 to 1995, Mr. Brubaker served as president of Interstate Resources, a pulp and paper company. From 1991 to 1992, Mr. Brubaker served as president of IRI, a radiation measurement equipment manufacturer. From 1981 to 1991, Mr. Brubaker held several management positions at James River Corporation, a forest and paper company, including vice president of strategic planning from 1981 to 1982, group vice president of the Groveton Group and Premium Printing Papers from 1982 to 1990 and vice president of human resources development in 1991. From 1976 to 1981, Mr. Brubaker was strategic planning manager and marketing manager of white papers at Boise Cascade. Previously, Mr. Brubaker was a senior engagement manager at McKinsey & Company from 1972 to 1976. Prior to 1972, Mr. Brubaker was a U.S. Navy fighter pilot. Mr. Brubaker holds an MBA from the Harvard Business School and a BSE from Princeton University.

Lewis Parrish
Chief Financial Officer and Assistant Treasurer

Mr. Parrish joined Gladstone in August of 2008. His previous experience includes three years in public accounting, and three years abroad in Korea teaching English. He obtained a Bachelor's degree in Accounting from Virginia Tech, and he is a CPA in the Commonwealth of Virginia.

Jay Beckhorn
Mr. Beckhorn joined Gladstone in January 2013. He currently serves as Managing Director, Finance of Gladstone Commercial Treasurer of Gladstone Land and Gladstone Commercial and Assistant Treasurer of Gladstone Capital and Gladstone Investment; his focus is debt finance.

Jay has 28 years of real estate finance experience. Prior to joining Gladstone, he was a Regional Director with Heavenrich & Co., an M&A group that serves the senior's housing industry. He helped the firm's clients recapitalize their companies by arranging joint ventures with private equity groups, sale lease-back transactions with REITs and loans from banks and agencies. Before Heavenrich, Mr. Beckhorn served as a Senior Vice President with Sunrise Senior Living where he secured debt financing to support the company's development, acquisition, and joint venture activities. Additionally, he worked for the Riggs Bank in a variety of real estate related capacities including Managing Director and Senior Asset Manager for the Multi-Employer Property Trust. He started his real estate career with Kettler, a Washington, D.C. area real estate developer.

Jay earned an MBA from Duke University's Fuqua School of Business and a BA from Colgate University.
Jack Dellafiora
Chief Compliance Officer

Mr. Dellafiora joined Gladstone in September 2007 as Chief Compliance Officer. Previously, Mr. Dellafiora held management roles in regulatory compliance, financial and operational risk management, financial reporting, and enterprise data management with Fannie Mae. Prior to that he lead attestation engagements for BDO Seidman where he worked on a diverse set of client industries. Mr. Dellafiora has also provided strategic and financial services for an alternative energy developer. Mr. Dellafiora is a CPA with a BBA in Accountancy from the University of Notre Dame and a MBA from the University of Maryland's Smith School of Business.

Michael LiCalsi
General Counsel and Secretary

Mr. LiCalsi has been our General Counsel since October 2009 and Secretary since October 2012. He was appointed President of Gladstone Administration in July 2013.  A graduate of the George Mason University School of Law, where he served as Editor-in-Chief of the George Mason Law Review from 2004-2005. Mr. LiCalsi is currently a member of the Virginia State Bar and District of Columbia Bar. Before joining the Gladstone Companies, Mr. LiCalsi served as an Associate Attorney in the Washington, D.C. office of Baker Botts L.L.P., a multinational law firm. From 1996 to 2004, Mr. LiCalsi held various positions at TD Waterhouse Investor Services, Inc. (currently TD Ameritrade, Inc.), including those of regional and national vice president. Mr. LiCalsi currently holds his series 7 and 24 licenses at our affiliated broker-dealer, Gladstone Securities, LLC. Prior to his tenure in the financial services industry, Mr. LiCalsi graduated from Rutgers College, with a BA in History.

Jennifer Smith
Chief Valuation Officer

Ms. Smith joined Gladstone in September 2013 as a Valuation Officer.  Prior to joining Gladstone, she was a Senior Vice President in the Valuation Department for MCG Capital, a public business development company in Arlington, VA  from 2005-2013. Prior to her work at MCG Capital, she was a Senior Associate for FTI Consulting, a business advisory firm located in Washington, DC.  Ms. Smith holds a BS in Commerce  with concentrations in Finance and International Business from the University of Virginia.