---
schema_version: "secwatch.filing_event.v1"
accession: "0001214659-23-013411"
form_type: "8-K"
ticker: "ARL"
cik: "0001102238"
company_name: "AMERICAN REALTY INVESTORS INC"
filed_at: "2023-10-13T23:59:59+00:00"
generated_at: "2026-06-09T23:50:06.896927+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.3
calibrated_materiality_score: 0.3
confidence: "high"
source: SEC EDGAR
---

# Director Raymond Roberts Sr. resigns; Fernando Celis appointed to ARL board

## Summary
- Raymond D. Roberts, Sr. resigned as director and from all board committees on October 10, 2023, citing health issues.
- Roberts, age 91, had served as a director since June 2016; no disagreement with the company.
- Board appointed Fernando Victor Lara Celis, age 57, effective October 11, 2023, to fill the vacancy.
- Celis is General Manager and President of FYA Project LLC (Schlotzsky's franchisee) and manages real estate projects in Mexico.
- Celis also elected as director of Transcontinental Realty Investors (TCI) and Income Opportunity Realty Investors (IOR) on the same day.

## SEC filing metadata
- accession: 0001214659-23-013411
- form_type: 8-K
- ticker: ARL
- cik: 0001102238
- company_name: AMERICAN REALTY INVESTORS INC
- filed_at: 2023-10-13T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.3
- calibrated_materiality_score: 0.3
- confidence: high
- sec_items: 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1102238/000121465923013411/0001214659-23-013411-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1102238/000121465923013411/z10132308k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001214659-23-013411
- JSON: https://secwatch.observer/filing/0001214659-23-013411.json
- Plain text: https://secwatch.observer/filing/0001214659-23-013411.txt

## Key facts
- Executive change
  Fernando Victor Lara Celis was appointed as Director at AMERICAN REALTY INVESTORS INC.
  - Action: appointed
  - Role: Director
  source text: On October 10, 2023, the Board of Directors of ARL selected Fernando Victor Lara Celis, age 57, as a director effective October 11, 2023, to fill a vacancy on the Board of Directors created by the resignation of Raymond D. Roberts, Sr.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1102238/000121465923013411/0001214659-23-013411-index.htm
- Executive change
  Raymond D. Roberts, Sr. resigned as Director at AMERICAN REALTY INVESTORS INC.
  - Action: resigned
  - Role: Director
  source text: On October 10, 2023, Raymond D. Roberts, Sr. resigned as a director and from all Board Committees of American Realty Investors, Inc.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1102238/000121465923013411/0001214659-23-013411-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.