| | IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR 14, 2023.OUR ANNUAL MEETING TO BE HELD ON JUNE | | |
| | Our Proxy Statement and | | |
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| | | | | A-1 | | |
Name of Beneficial Owner | | Amount and Nature of Beneficial Ownership | | Percent of Class (%)(1) | | | Amount and Nature of Beneficial Ownership | | Percent of Class (%)(1) | | ||||||||||||||||
BlackRock, Inc.(2) | | | | 15,302,379 | | | | | 16.8% | | | | | | 15,111,521 | | | | | 16.5% | | | ||||
The Vanguard Group, Inc.(3) | | | | 12,334,987 | | | | | 13.6% | | | | | | 13,702,540 | | | | | 15.0% | | | ||||
The Mack Group(4) | | | | 7,452,969 | | | | | 7.6% | | | | | | 7,452,969 | | | | | 7.5% | | | ||||
Madison International Realty Holdings, LLC(5) | | | | 6,409,183 | | | | | 7.0% | | | | | | 6,107,661 | | | | | 6.7% | | | ||||
State Street Corporation(6) | | | | 4,758,075 | | | | | 5.2% | | | |||||||||||||||
Bow Street, LLC(6) | | | | 5,327,982 | | | | | 5.8% | | | |||||||||||||||
State Street Corporation(7) | | | | 5,193,734 | | | | | 5.7% | | | |||||||||||||||
H/2 Credit Manager LP(8) | | | | 4,697,314 | | | | | 5.1% | | |
| | | | | | | | | Committee Membership | | ||||||||||||||||||||||
Nominee | | | ||||||||||||||||||||||||||||||
| | | | AC | | | CC | | | CG | | | ESG | | | SRC | | |||||||||||||||
Frederic Cumenal | | | 63 | | | Director | | | | | | C | | | | | | | | | M | | ||||||||||
| | | | Director Nominee | | | | | | | | | | | | | | | | | ||||||||||||
Tammy K. Jones | | | 57 | | | Chair | | | M | | | | | | | | | M | | | M | | ||||||||||
A. Akiva Katz | | | | | Director | | | | | | M | | | M | | | | | | C | | |||||||||||
Nori Gerardo Lietz | | | | | Director | | | | | | | | | C | | | M | | | | | |||||||||||
Victor B. MacFarlane | | | | | Director | | | M | | | M | | | | | | | | | | | |||||||||||
Mahbod Nia | | | | | Director | | | | | | | | | | | | M | | | M | | |||||||||||
Howard S. Stern | | | | | Director | | | | | | | | M | | | C | | | | | ||||||||||||
Stephanie L. Williams | | | 45 | | | Director Nominee | | | | | | | | | | | | | | | | |
Name and Position | | | Age | | | First Elected | | | Term Expires | | | Number of Shares(1)(2) | | | Percent of Shares Outstanding (%)(3) | | | Shares Outstanding (calculated on a fully diluted basis) (%)(4) | | ||||||||||||||||||
Tammy K. Jones, Chair of the Board | | | | | 56 | | | | | | 2020 | | | | | | 2022 | | | | | | 11,533 | | | | | | * | | | | | | * | | |
Mahbod Nia, Chief Executive Officer and Director | | | | | 46 | | | | | | 2020 | | | | | | 2022 | | | | | | 1,143,574(5) | | | | | | 1.25 | | | | | | 1.10 | | |
MaryAnne Gilmartin, Former Chair of the Board and Interim Chief Executive Officer | | | | | 58 | | | | | | 2019 | | | | | | 2021 | | | | | | 340,155(6) | | | | | | * | | | | | | * | | |
Marshall B. Tycher, Former Chairman of Roseland | | | | | 67 | | | | | | ― | | | | | | ― | | | | | | 492,764(7) | | | | | | * | | | | | | * | | |
Amanda Lombard, Chief Financial Officer | | | | | 38 | | | | | | ― | | | | | | ― | | | | | | 35,239(8) | | | | | | * | | | | | | * | | |
David Smetana, Former Chief Financial Officer | | | | | 50 | | | | | | ― | | | | | | ― | | | | | | 101,051(9) | | | | | | * | | | | | | * | | |
Giovanni (John) DeBari, Former Chief Accounting Officer | | | | | 50 | | | | | | ― | | | | | | ― | | | | | | 38,111(10) | | | | | | * | | | | | | * | | |
Anna Malhari, Chief Operating Officer | | | | | 37 | | | | | | ― | | | | | | ― | | | | | | 61,068(11) | | | | | | * | | | | | | * | | |
Gary T. Wagner, Former General Counsel | | | | | 62 | | | | | | ― | | | | | | ― | | | | | | 219,770(12) | | | | | | * | | | | | | * | | |
Ricardo Cardoso, Former Executive Vice President and Chief Investment Officer | | | | | 49 | | | | | | ― | | | | | | ― | | | | | | 473,713(13) | | | | | | * | | | | | | * | | |
Taryn D. Fielder, General Counsel | | | | | 44 | | | | | | ― | | | | | | ― | | | | | | 24,495 | | | | | | * | | | | | | * | | |
Jeffrey S. Turkanis, Executive Vice President and Chief Investment Officer | | | | | 40 | | | | | | ― | | | | | | ― | | | | | | 26,026 | | | | | | * | | | | | | * | | |
Alan R. Batkin, Director | | | | | 77 | | | | | | 2019 | | | | | | 2022 | | | | | | 17,802 | | | | | | * | | | | | | * | | |
Frederic Cumenal, Director | | | | | 62 | | | | | | 2019 | | | | | | 2022 | | | | | | 15,802 | | | | | | * | | | | | | * | | |
A. Akiva Katz, Director | | | | | 44 | | | | | | 2020 | | | | | | 2022 | | | | | | 4,219,769(14) | | | | | | 4.64% | | | | | | 4.06% | | |
Nori Gerardo Lietz, Director | | | | | 65 | | | | | | 2019 | | | | | | 2022 | | | | | | 15,802 | | | | | | * | | | | | | * | | |
Howard S. Stern, Director | | | | | 60 | | | | | | 2020 | | | | | | 2022 | | | | | | 11,533 | | | | | | * | | | | | | * | | |
Victor B. MacFarlane, Director | | | | | 71 | | | | | | 2021 | | | | | | 2022 | | | | | | 5,647 | | | | | | * | | | | | | * | | |
All directors, executive officers and nominees as a group (18 individuals) | | | | | | | | | | | | | | | | | | | | | | | 7,253,854(15) | | | | | | 7.8% | | | | | | 7.0% | | |
Name and Position | | | Age | | | First Elected | | | Term Expires | | | Number of Shares(1)(2) | | | Percent of Shares Outstanding (%)(3) | | | Shares Outstanding (calculated on a fully diluted basis) (%)(4) | | ||||||||||||||||||
Tammy K. Jones, Chair of the Board | | | | | 57 | | | | | | 2020 | | | | | | 2023 | | | | | | 18,645 | | | | | | * | | | | | | * | | |
Mahbod Nia, Chief Executive Officer and Director | | | | | 47 | | | | | | 2020 | | | | | | 2023 | | | | | | 1,948,958(5) | | | | | | 2.1% | | | | | | 1.9% | | |
Amanda Lombard, Chief Financial Officer | | | | | 39 | | | | | | ― | | | | | | ― | | | | | | 103,797(6) | | | | | | * | | | | | | * | | |
Anna Malhari, Chief Operating Officer | | | | | 38 | | | | | | ― | | | | | | ― | | | | | | 123,971(7) | | | | | | * | | | | | | * | | |
Taryn D. Fielder, General Counsel | | | | | 45 | | | | | | ― | | | | | | ― | | | | | | 154,111(8) | | | | | | * | | | | | | * | | |
Jeffrey S. Turkanis, Executive Vice President and Chief Investment Officer | | | | | 41 | | | | | | ― | | | | | | ― | | | | | | 237,924(9) | | | | | | * | | | | | | * | | |
Alan R. Batkin, Retiring Director | | | | | 78 | | | | | | 2019 | | | | | | 2023 | | | | | | 24,914(10) | | | | | | * | | | | | | * | | |
Frederic Cumenal, Director | | | | | 63 | | | | | | 2019 | | | | | | 2023 | | | | | | 22,914 | | | | | | * | | | | | | * | | |
Ronald M. Dickerman, Director Nominee | | | | | 59 | | | | | | 2023 | | | | | | 2023 | | | | | | 6,107,661(11) | | | | | | 6.7% | | | | | | 5.8% | | |
A. Akiva Katz, Director | | | | | 45 | | | | | | 2020 | | | | | | 2023 | | | | | | 5,327,982(12) | | | | | | 5.8% | | | | | | 5.1% | | |
Nori Gerardo Lietz, Director | | | | | 66 | | | | | | 2019 | | | | | | 2023 | | | | | | 22,914 | | | | | | * | | | | | | * | | |
Victor B. MacFarlane, Director | | | | | 72 | | | | | | 2021 | | | | | | 2023 | | | | | | 12,759 | | | | | | * | | | | | | * | | |
Howard S. Stern, Director | | | | | 61 | | | | | | 2020 | | | | | | 2023 | | | | | | 18,645 | | | | | | * | | | | | | * | | |
Stephanie L. Williams, Director Nominee | | | | | 45 | | | | | | 2023 | | | | | | 2023 | | | | | | 0(13) | | | | | | * | | | | | | * | | |
All directors, executive officers and nominees as a group (13 individuals) | | | | | | | | | | | | | | | | | | | | | | | 14,100,281(14) | | | | | | 15.0% | | | | | | 13.5% | | |
| ALIGNMENT WITH INDUSTRY CODES & VOLUNTARY BEST PRACTICES | | | SIGNATORY | | | MEMBERSHIPS | |
| Climate Disclosure Project (CDP) GRI Core Option Taskforce for Climate and | | | CEO Action for Diversity Pledge UN Global Compact UN Women Empowerment | | | EV100 GRESB National Association of Real | |
| ALIGNMENT WITH INDUSTRY CODES & VOLUNTARY BEST PRACTICES | | | SIGNATORY | | | MEMBERSHIPS | |
| Financial Disclosures (TCFD) UN Sustainable Development Goals (SDG) UN Global Compact Communication on Progress Science Based Targets initiative (SBTi) | | | Principles (WEPs) | | | Estate Investment Trusts (NAREIT) National Apartment Association (NAA) New Jersey Apartment Association (NJAA) Massachusetts Apartment Association (MAA) USGBC National Minority Supplier Development Council (NMSDC) | |
Name | | | Title | |
Mahbod Nia | | | Chief Executive Officer | |
Amanda Lombard | | | Chief Financial Officer | |
Jeffrey S. Turkanis | | | Chief Investment Officer | |
Anna Malhari | | | Chief Operating Officer | |
Taryn D. Fielder | | | General Counsel and Secretary | |
David J. Smetana | | | Former Chief Financial Officer(1) | |
Gary T. Wagner | | | Former General Counsel and Secretary(2) | |
| American Assets Trust, Inc. | | | | |
| | | | ||
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| | | JBG SMITH Properties | | |
| | | Paramount Group, Inc. | | |
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|
| Target Pay Mix - CEO | | | Target Pay Mix - Avg. Other NEOs | |
| | | | ||
| Pay at Risk 87% | | | Pay at Risk 68% | |
Executive Officer | | | 2020 Base Salary | | | 2021 Base Salary | | ||||||
Mahbod Nia(1) | | | | $ | — | | | | | $ | 800,000 | | |
David J. Smetana | | | | $ | 450,000 | | | | | $ | 450,000 | | |
Ricardo Cardoso | | | | $ | 550,000 | | | | | $ | 550,000 | | |
Gary T. Wagner | | | | $ | 450,000 | | | | | $ | 450,000 | | |
Giovanni (John) DeBari | | | | $ | 450,000 | | | | | $ | 450,000 | | |
Marshall B. Tycher | | | | $ | 800,000 | | | | | $ | 800,000 | | |
Executive Officer | | | 2021 Base Salary | | | 2022 Base Salary | | ||||||
Mahbod Nia(1) | | | | $ | 800,000 | | | | | $ | 800,000 | | |
Amanda Lombard(2) | | | | | — | | | | | $ | 400,000 | | |
Jeffrey S. Turkanis(3) | | | | | — | | | | | $ | 400,000 | | |
Taryn D. Fielder(4) | | | | | — | | | | | $ | 400,000 | | |
Anna Malhari | | | | $ | 300,000 | | | | | $ | 400,000 | | |
David Smetana(5) | | | | $ | 450,000 | | | | | $ | 450,000 | | |
Gary T. Wagner(6) | | | | $ | 450,000 | | | | | $ | 450,000 | | |
Executive | | | Threshold | | | Target | | | Maximum | | |||||||||
Mahbod Nia | | | | | 75% | | | | | | 150% | | | | | | 300% | | |
David J. Smetana | | | | | 50% | | | | | | 100% | | | | | | 150% | | |
Ricardo Cardoso | | | | | 50% | | | | | | 100% | | | | | | 200% | | |
Gary T. Wagner | | | | | 50% | | | | | | 100% | | | | | | 150% | | |
Giovanni (John) DeBari | | | | | 20% | | | | | | 40% | | | | | | 60% | | |
Marshall B. Tycher(1) | | | | | 50% | | | | | | 125% | | | | | | 200% | | |
Executive | | | Threshold | | | Target | | | Maximum | | |||||||||
Mahbod Nia | | | | | 75% | | | | | | 150% | | | | | | 300% | | |
Amanda Lombard | | | | | 50% | | | | | | 100% | | | | | | 150% | | |
Jeffrey S. Turkanis | | | | | 50% | | | | | | 100% | | | | | | 150% | | |
Taryn D. Fielder | | | | | 50% | | | | | | 100% | | | | | | 150% | | |
Anna Malhari | | | | | 50% | | | | | | 100% | | | | | | 150% | | |
David Smetana | | | | | 50% | | | | | | 100% | | | | | | 150% | | |
Gary T. Wagner | | | | | 50% | | | | | | 100% | | | | | | 150% | | |
Metric | | | Weight | | | Threshold | | | Target | | | Maximum | | | Actual Result | | | Outcome | |
Corporate Leasing Goals | | | | | | | | | | | | | | | | | | | |
Office (Total Leasing Activity at Waterfront) | | | 15% | | | 68K SF | | | 88K SF | | | 108K SF | | | 147K SF | | | Maximum | |
Residential (Same Store Occupancy Growth) | | | 15% | | | +175 bps | | | +225 bps | | | +275 bps | | | +954 bps | | | Maximum | |
Residential Metrics (Out of 9 Metrics)(1) | | | 25% | | | 5 of 9 | | | 7 of 9 | | | 9 of 9 | | | 9 | | | Maximum | |
Corporate/Office Metrics (Out of 9 Metrics)(1) | | | 25% | | | 5 of 9 | | | 7 of 9 | | | 9 of 9 | | | 9 | | | Maximum | |
Individual Performance | | | 20% | | | Specific to each executive | |
Metric | | | Weight | | | Threshold | | | Target | | | Maximum | | | Actual Result | | | Outcome | | |||
Harborside Office Leasing (in K SF)(1) | | | | | 5% | | | | 61K SF | | | 70K SF | | | 80K SF | | | 130K SF | | | Maximum | |
Residential Occupancy (in %)(2) | | | | | 5% | | | | 92% | | | 94% | | | 96% | | | 95% | | | Between Target and Maximum | |
Land Sales (in $M)(3) | | | | | 15% | | | | $150M | | | $200M | | | $250M | | | $222M | | | Between Target and Maximum | |
Office Sales (in $M)(3) | | | | | 20% | | | | $210M | | | $575M | | | $1.1B | | | $993M | | | Between Target and Maximum | |
ESG (out of 3)(4) | | | | | 10% | | | | 1 | | | 2 | | | 3 | | | 3 | | | Maximum | |
Company Goals/Tasks (Out of 9 Metrics)(5) | | | | | 15% | | | | 5 of 9 | | | 7 of 9 | | | 9 of 9 | | | 7.33 | | | Between Target and Maximum | |
Individual Performance | | | | | 30% | | | | Specific to each executive | |
| Number of Metrics Completed | | | Percentage Completed | | | Bonus Achievement | | |||
| Less than 5 of 9 | | | < | | | None | | |||
| 5 of 9 | | | | | Threshold | | ||||
| 6 of 9 | | | | | Between Threshold and Target | | ||||
| 7 of 9 | | | | | Target | | ||||
| 8 of 9 | | | | | Between Target and Maximum | | ||||
| 9 of 9 | | | | | Maximum | |
Objective | | | Goal Achieved? | | |||
Set Targets to Reduce Scope 1 and Scope 2 Emissions and have them validated by the Science Based Target Initiative | | | | | ✓ | | |
Increase share of Green Certified (LEED or Equivalent) buildings above 50% (25% as of January 1, 2022) | | | | | ✓ | | |
Develop and start including a Sustainability Addendum to new multifamily leases and renewals | | | | | ✓ | | |
Objective | | | Performance Requirement | | | Description of | ||||
| | Achieved? | | |||||||
| | Binary (Y/N) | | | | | ✓ | | ||
Completion of Cloud Migration(1) | | | Binary (Y/N) | | | | | ✓ | | |
| | Binary (Y/N) | | | | | ✓ | | ||
| | Binary (Y/N) | | | | | | |||
| | | | | | | ||||
| | Binary (Y/N) | | | | | ✓ | | ||
| | Binary (Y/N) | | | | | ✓ | | ||
Redeployment of capital | | | $200M | | | Acquired The James and repaid the revolver. | | | ✓ | |
Annual Cash Expense Savings (Relative to 2021 Cash Expense) | | | >$5M | | | $8 million | | | ✓ | |
Objective | | | Performance Requirement | | | Description of Performance | | | Goal Achieved? | |
Environmental, Social and Governance | | | | | | | | | | |
Improve composite ISS Quality Score(1) | | | 5 | | | 2 | | | ✓ | |
Implement On-Line Performance Management Program | | | >75% participation | | | 76.2% participation | | | ✓ | |
Financing | | | | | | | | | | |
RCF | | | $200M | | | $250M closed May 6, 2021 | | | ✓ | |
Total Corporate (Bonds)/Mortgage Debt Repayment | | | $350M | | | $503.2M | | | ✓ | |
Disposal Activity | | | | | | | | | | |
Non-Core Land & Retail Sales | | | >$40M | | | $43M | | | ✓ | |
Suburban Office Gross Sales Proceeds | | | $350M | | | $510M | | | ✓ | |
Other | | | | | | | | | | |
Harborside Plaza 1 Re-Skin(2) | | | Binary (Y/N) | | | Y | | | ✓ | |
Whole Foods Completion(3) | | | Binary (Y/N) | | | Y | | | ✓ | |
G&A Reduction(4) | | | >5% | | | 5.1% | | | ✓ | |
Named Executive Officer | | | 2021 Bonus | | |||
Mahbod Nia | | | | $ | 2,400,000 | | |
David J. Smetana | | | | $ | 675,000 | | |
Ricardo Cardoso | | | | $ | 1,100,000 | | |
Gary T. Wagner | | | | $ | 675,000 | | |
Giovanni (John) DeBari | | | | $ | 270,000 | | |
Named Executive Officer | | | 2022 Bonus | | |||
Mahbod Nia | | | | $ | 2,078,986 | | |
Amanda Lombard | | | | $ | 546,498 | | |
Jeffrey S. Turkanis | | | | $ | 546,498 | | |
Taryn D. Fielder | | | | $ | 546,498 | | |
Anna Malhari | | | | $ | 546,498 | | |
David Smetana(1) | | | | $ | 112,500 | | |
Gary T. Wagner(2) | | | | $ | 129,452 | | |
| | Relative TSR (25% of total 2021 PSUs) | | Absolute TSR (75% of total 2021 PSUs) | | | Absolute TSR (75% of total 2022 PSUs) | | Relative TSR (25% of total 2022 PSUs) | | |||||||||||||||||||||||||
| | Company Absolute 3-Year TSR | | Payout as % of Target LTIP Units | | CLI 3-Year TSR Percentile Rank | | Payout as % of Target LTIP Units | | | 3-Year Absolute TSR | | Payout as % of Target RSUs | | 3-Year Relative TSR Percentile Rank | | Payout as % of Target LRSUs | | |||||||||||||||||
< Threshold | | | | <18% | | | | | 0% | | | <35th Percentile | | | | 0% | | | | <15% | | 0% | | <35th Percentile | | 0% | | ||||||||
Threshold | | | | 18% | | | | | 40% | | | 35th Percentile | | | | 40% | | | | 15% | | 40% | | 35th Percentile | | 40% | | ||||||||
Target | | | | 27% | | | | | 100% | | | 55th Percentile | | | | 100% | | | | 24% | | 100% | | 55th Percentile | | 100% | | ||||||||
Maximum | | | | 36% | | | | | 160% | | | 75th Percentile | | | | 160% | | | | 33% | | 160% | | 75th Percentile | | 160% | |
| | | Multiple of Salary/Retainer | |
CEO | | | 5x Salary | |
EVP-level | | | 2x Salary | |
Non-Employee Directors | | | 5x Cash Retainer | |
Name and Principal Position | | Year | | Salary($)(6) | | Bonus ($) | | Stock Awards ($)(7) | | Option Awards ($) | | Non-Equity Incentive Plan Compensation ($)(10) | | All Other Compensation ($) | | Total($) | | | Year | | Salary ($) | | Bonus ($) | | Stock Awards ($)(7) | | Option Awards ($) | | Non-Equity Incentive Plan Compensation ($)(9) | | All Other Compensation ($) | | Total($) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mahbod Nia (1) Chief Executive Officer | | | | | 2021 | | | | | 652,603 | | | | | — | | | | | 4,000,000 | | | | | 3,866,500(8) | | | | | 2,400,000 | | | | | 50,000(11) | | | | | 10,969,103 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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David J. Smetana (2) Former Chief Financial Officer | | | | | 2021 | | | | | 450,000 | | | | | — | | | | | 700,000 | | | | | — | | | | | 675,000 | | | | | 15,600(12) | | | | | 1,840,600 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2020 | | | | | 450,000 | | | | | — | | | | | 500,000 | | | | | — | | | | | 416,250 | | | | | 15,600 | | | | | 1,381,850 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2019 | | | | | 450,000 | | | | | — | | | | | 400,007 | | | | | — | | | | | 405,000 | | | | | 15,600 | | | | | 1,270,607 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ricardo Cardoso Former Chief Investment Officer (2) | | | | | 2021 | | | | | 550,000 | | | | | — | | | | | 2,000,000 | | | | | — | | | | | 1,100,000 | | | | | 15,600(12) | | | | | 3,665,600 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2020 | | | | | 482,693 | | | | | — | | | | | 500,000 | | | | | — | | | | | 508,750 | | | | | 15,600 | | | | | 1,507,043 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2019 | | | | | 450,000 | | | | | — | | | | | 400,007 | | | | | — | | | | | 405,000 | | | | | 15,600 | | | | | 1,270,607 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gary T. Wagner Former General Counsel and Secretary (2) | | | | | 2021 | | | | | 450,000 | | | | | — | | | | | 500,000 | | | | | — | | | | | 675,000 | | | | | — | | | | | 1,625,000 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2020 | | | | | 450,000 | | | | | — | | | | | 500,000 | | | | | — | | | | | 416,250 | | | | | — | | | | | 1,366,250 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2019 | | | | | 450,000 | | | | | — | | | | | 400,007 | | | | | — | | | | | 405,000 | | | | | 6,600 | | | | | 1,261,607 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Giovanni M. DeBari (3) Former Chief Accounting Officer | | | | | 2021 | | | | | 450,000 | | | | | — | | | | | 175,000 | | | | | — | | | | | 270,000 | | | | | — | | | | | 895,000 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
MaryAnne Gilmartin (4) Former Interim Chief Executive Officer | | | | | 2021 | | | | | 1,045,480 | | | | | — | | | | | — | | | | | 760,704(9) | | | | | — | | | | | — | | | | | 1,806,184 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2020 | | | | | 764,384 | | | | | 500,000 | | | | | — | | | | | 508,860 | | | | | — | | | | | 10,000 | | | | | 1,783,244 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Marshall B. Tycher (5) Former Chairman of Veris Residential Trust (formerly Roseland Residential Trust) | | | | | 2021 | | | | | 307,692 | | | | | — | | | | | 1,800,000 | | | | | — | | | | | — | | | | | 4,055,835(13) | | | | | 6,163,527 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2020 | | | | | 800,000 | | | | | — | | | | | 2,000,000 | | | | | — | | | | | 970,000 | | | | | — | | | | | 3,770,000 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2019 | | | | | 800,000 | | | | | — | | | | | 2,000,004 | | | | | — | | | | | 1,360,000 | | | | | 7,615 | | | | | 4,167,619 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mahbod Nia Chief Executive Officer | | | | | 2022 | | | | | 800,000 | | | | | — | | | | | 4,000,000 | | | | | — | | | | | 2,078,986 | | | | | — | | | | | 6,878,986 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2021 | | | | | 652,603 | | | | | — | | | | | 4,000,000 | | | | | 3,866,500 | | | | | 2,400,000 | | | | | 50000 | | | | | 10,969,103 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amanda Lombard (1) Chief Financial Officer | | | | 2022 | | | | | 375,385 | | | | | 300,000(6) | | | | | 450,000 | | | | | — | | | | | 546,498 | | | | | 26,900(10) | | | | | 1,698,783 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Jeffrey Turkanis (2) Chief Investment Officer | | | | 2022 | | | | | 292,307 | | | | | 275,000(6) | | | | | 925,000 | | | | | 1,100,000(8) | | | | | 546,498 | | | | | 36,120(10) | | | | | 3,174,925 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Anna Malhari Chief Operating Officer | | | | 2022 | | | | | 400,000 | | | | | — | | | | | 300,000 | | | | | — | | | | | 546,498 | | | | | 8,190(10) | | | | | 1,254,688 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Taryn Fielder (3) Executive Vice President, General Counsel and Corporate Secretary | | | | 2022 | | | | | 276,923 | | | | | — | | | | | 960,000 | | | | | — | | | | | 546,498 | | | | | 33,133(10) | | | | | 1,816,554 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gary T. Wagner (4) Former General Counsel and Secretary | | | | | 2022 | | | | | 138,462 | | | | | — | | | | | 500,000 | | | | | — | | | | | — | | | | | 1,662,889(11) | | | | | 2,301,351 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2021 | | | | | 450,000 | | | | | — | | | | | 500,000 | | | | | — | | | | | 675,000 | | | | | — | | | | | 1,625,000 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2020 | | | | | 450,000 | | | | | — | | | | | 500,000 | | | | | — | | | | | 416,250 | | | | | — | | | | | 1,366,250 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
David J. Smetana (5) Former Chief Financial Officer | | | | | 2022 | | | | | 119,423 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 125,564(12) | | | | | 244,987 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2021 | | | | | 450,000 | | | | | — | | | | | 700,000 | | | | | — | | | | | 675,000 | | | | | 15,600 | | | | | 1,840,600 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2020 | | | | | 450,000 | | | | | — | | | | | 500,000 | | | | | — | | | | | 416,250 | | | | | 15,600 | | | | | 1,381,850 | | |
Name | | Grant Date | | | Estimated Future Payouts Under Non-Equity Incentive Plan Awards ($)(1) | | Estimated Future Payouts Under Equity Incentive Plan Awards (#)(2) | | | All Other Stock Awards: Number of Shares of Stock or Units(3) | | All Other Option Awards: Number of Securities Underlying Options | | Exercise or Base Price of Option Awards ($) | | Grant Date Fair Value of Stock and Option Awards ($)(4) | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | | | Estimated Future Payouts Under Non-Equity Incentive Plan Awards ($)(1) | | Estimated Future Payouts Under Equity Incentive Plan Awards (#)(2) | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Name | | Grant Date | | | Threshold | | Target | | Maximum | | Threshold | | Target | | Maximum | | | All Other Stock Awards: Number of Shares of Stock or Units(3) | | All Other Option Awards: Number of Securities Underlying Options | | Exercise or Base Price of Option Awards ($) | | Grant Date Fair Value of Stock and Option Awards ($)(4) | | | Grant Date | | Threshold | | Target | | Maximum | | Threshold | | Target | | Maximum | | All Other Stock Awards: Number of Shares of Stock or Units(3) | | All Other Option Awards: Number of Securities Underlying Options | | Exercise or Base Price of Option Awards ($) | | Grant Date Fair Value of Stock and Option Awards ($)(5) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 3/10/2022 | | | | | | | | | | | | | | | | | | | | 48,759 | | | | | 121,899 | | | | | 195,038 | | | | | 112,740(4) | | | | | — | | | | | — | | | | | 4,000,000 | | | |||||||||||||||||||||||||||||||||||||||||||||||
| | | | 4/21/2021 | | | | | 600,000 | | | | | 1,200,000 | | | | | 2,400,000 | | | | | 56,948 | | | | | 142,369 | | | | | 227,790 | | | | | 122,926 | | | | | — | | | | | — | | | | | 4,000,000 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
David J. Smetana | | | | 4/21/2021 | | | | | 225,000 | | | | | 450,000 | | | | | 675,000 | | | | | 9,966 | | | | | 24,914 | | | | | 39,863 | | | | | 21,512 | | | | | — | | | | | — | | | | | 700,000 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ricardo Cardoso | | | | 1/04/2021 | | | | | 275,000 | | | | | 550,000 | | | | | 1,100,000 | | | | | 83,612 | | | | | 167,225 | | | | | 334,449 | | | | | — | | | | | — | | | | | — | | | | | 2,000,000 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mahbod Nia | | | | | | | | | | 600,000 | | | | | 1,200,000 | | | | | 2,400,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 3/10/2022 | | | | | | | | | | | | | | | | | | | | 3,657 | | | | | 9,143 | | | | | 14,628 | | | | | 8,455(4) | | | | | — | | | | | — | | | | | 300,000 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amanda Lombard | | | | | 4/18/2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 9,186 | | | | | — | | | | | — | | | | | 150,000 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | | | | | 200,000 | | | | | 400,000 | | | | | 600,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 4/18/2022 | | | | | | | | | | | | | | | | | | | | — | | | | | — | | | | | — | | | | | 26,026 | | | | | 250,000 | | | | | — | | | | | 1,525,000 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Jeffrey Turkanis | | | | | 4/29/2022 | | | | | | | | | | | | | | | | | | | | 7,292 | | | | | 18,231 | | | | | 29,169 | | | | | 15,615(4) | | | | | — | | | | | — | | | | | 500,000 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | | | | | 200,000 | | | | | 400,000 | | | | | 600,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 3/10/2022 | | | | | | | | | | | | | | | | | | | | 3,657 | | | | | 9,143 | | | | | 14,628 | | | | | 8,455(4) | | | | | — | | | | | — | | | | | 300,000 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Anna Malhari | | | | | | | | | | 200,000 | | | | | 400,000 | | | | | 600,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 4/18/2022 | | | | | | | | | | | | | | | | | | | | — | | | | | — | | | | | — | | | | | 24,495 | | | | | — | | | | | — | | | | | 400,000 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Taryn Fielder | | | | | 4/29/2022 | | | | | | | | | | | | | | | | | | | | 8,168 | | | | | 20,418 | | | | | 32,669 | | | | | 17,489(4) | | | | | — | | | | | — | | | | | 560,000 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | | | | | 200,000 | | | | | 400,000 | | | | | 600,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 4/21/2021 | | | | | 225,000 | | | | | 450,000 | | | | | 675,000 | | | | | 7,119 | | | | | 17,796 | | | | | 28,474 | | | | | 15,366 | | | | | — | | | | | — | | | | | 500,000 | | | | | | 3/10/2022 | | | | | — | | | | | — | | | | | — | | | | | 6,094 | | | | | 15,237 | | | | | 24,380 | | | | | 14,092(4) | | | | | — | | | | | — | | | | | 500,000 | | | |||||||||||||||||||||||
Giovanni M. DeBari | | | | 4/21/2021 | | | | | 112,500 | | | | | 180,000 | | | | | 270,000 | | | | | 2,492 | | | | | 6,229 | | | | | 9,966 | | | | | 5,378 | | | | | — | | | | | — | | | | | 175,000 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
MaryAnne Gilmartin(5) | | | | 6/09/2021 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 100,000 | | | | | 20.00 | | | | | 422,000 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | 6/09/2021 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 57,505 | | | | | 14.39 | | | | | 338,704 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Marshall B. Tycher | | | | 4/21/2021 | | | | | 400,000 | | | | | 1,000,000 | | | | | 1,600,000 | | | | | 25,627 | | | | | 64,066 | | | | | 102,506 | | | | | 55,317 | | | | | — | | | | | — | | | | | 1,800,000 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gary T. Wagner | | | | | | | | | | 225,000 | | | | | 450,000 | | | | | 675,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Name | | | Option Awards | | Stock Awards | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Option Awards | | Stock Awards | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Name | | | Number of Securities Underlying Unexercised Options Exercisable (#)(1) | | Number of Securities Underlying Unexercised Options Unexercisable (#)(2) | | Option Exercise Price ($) | | Option Expiration Date | | Number of Shares or Units of Stock That Have Not Vested (#)(3) | | Market Value of Shares or Units of Stock That Have Not Vested ($)(4) | | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#)(5)(6) | | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($)(6) | | | Number of Securities Underlying Unexercised Options Exercisable (#)(1) | | Number of Securities Underlying Unexercised Options Unexercisable (#)(1)(2) | | Option Exercise Price ($) | | Option Expiration Date | | Number of Shares or Units of Stock That Have Not Vested (#)(3) | | Market Value of Shares or Units of Stock That Have Not Vested ($)(4) | | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#)(5)(6) | | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($)(6) | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | — | | | | | 950,000 | | | | | 15.79 | | | | | 03/10/2028 | | | | | 122,926 | | | | | 2,259,380 | | | | | 56,948 | | | | | 1,046,704 | | | | | | 316,667 | | | | | 633,333 | | | | | 15.79 | | | | | 03/10/2028 | | | | | 194,691 | | | | | 3,101,428 | | | | | 422,828 | | | | | 6,735,650 | | | |||||||||||||||||
Amanda Lombard | | | | — | | | | | — | | | | | — | | | | | — | | | | | 17,641 | | | | | 281,021 | | | | | 23,083 | | | | | 116,512 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Jeffrey Turkanis | | | | — | | | | | 250,000 | | | | | 16.33 | | | | | 04/18/2028 | | | | | 41,641 | | | | | 663,341 | | | | | 44,784 | | | | | 232,331 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Anna Malhari | | | | — | | | | | — | | | | | — | | | | | — | | | | | 16,483 | | | | | 262,574 | | | | | 46,056 | | | | | 203,585 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Taryn Fielder | | | | — | | | | | — | | | | | — | | | | | — | | | | | 27,287 | | | | | 434,682 | | | | | 50,158 | | | | | 260,217 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gary T. Wagner | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 150,618 | | | | | 965,039 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
David J. Smetana | | | | — | | | | | — | | | | | — | | | | | — | | | | | 30,449 | | | | | 559,653 | | | | | 31,131 | | | | | 572,188 | | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 65,372 | | | | | 466,717 | | | ||||||||||||||||
Ricardo Cardoso | | | | — | | | | | — | | | | | — | | | | | — | | | | | 8,937 | | | | | 164,262 | | | | | 355,614 | | | | | 6,536,185 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gary T. Wagner | | | | — | | | | | — | | | | | — | | | | | — | | | | | 24,303 | | | | | 446,689 | | | | | 28,284 | | | | | 519,860 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Giovanni M. DeBari | | | | — | | | | | — | | | | | — | | | | | — | | | | | 9,846 | | | | | 180,969 | | | | | 8,469 | | | | | 155,660 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
MaryAnne Gilmartin | | | | 230,000 | | | | | — | | | | | 14.39 | | | | | 07/24/2030 | | | | | — | | | | | — | | | | | — | | | | | — | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | 100,000 | | | | | — | | | | | 20.00 | | | | | 07/24/2030 | | | | | — | | | | | — | | | | | — | | | | | — | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Marshall B. Tycher | | | | — | | | | | — | | | | | — | | | | | — | | | | | 66,875 | | | | | 1,229,163 | | | | | 76,728 | | | | | 1,410,261 | | |
| | Option Awards | | | Stock Awards | | |||||||||||||||||||||||||||||||
Name | | | Number of Shares Acquired on Exercise (#) | | | Value Realized on Exercise ($) | | | Number of Shares Acquired on Vesting (#) | | | Value Realized on | Vesting ($) | | |||||||||||||||||||||||
Mahbod Nia | | | | | — | | | | | | — | | | | | | | | | | | | | ||||||||||||||
| | | | — | | | | | | — | | | | | | | | | | | | | |||||||||||||||
| | | | — | | | | | | — | | | | | | | | | | | | | |||||||||||||||
Gary T. Wagner | | | | | — | | | | | | — | | | | | | | | | | | | | ||||||||||||||
| | | | — | | | | | | — | | | | | | | | | | | |||||||||||||||||
| |
Name | | | Payments upon termination by Company without cause or by executive for good reason(1) | | | Payment upon termination due to death or disability(1) | | | Payments upon termination by the Company without cause or by the executive for good reason within two years of a change in control(1) | | |||||||||
Mahbod Nia Chief Executive Officer | | | | $ | | | | | $ | | | | | $ | | | |||
Chief Financial Officer | | | | $ | | | | | | | | | | | |||||
Chief Investment Officer | | | | $ | | | | | | | | | | | |||||
Chief Operating Officer | | | | $ | | | | | | | | | | | |||||
General Counsel and Secretary | | | | $ | | | | | | | | | |||||||
$ | | |
Year | | | Mahbod Nia | | | MaryAnne Gilmartin | | | Michael DeMarco | | | Average Summary Compensation Table Total for Non-CEO NEOs | | | Average Compensation Actually Paid to Non-CEO NEOs(1) | | | Value of Initial Fixed $100 Investment Based on(2): | | | Net Income Per Share(4) | | | Core FFO Per Share(5) | | ||||||||||||||||||||||||||||||||||||||||||||||||
| Summary Compensation Table CEO Total | | | Compensation Actually Paid to CEO | | | Summary Compensation Table CEO Total | | | Compensation Actually Paid to CEO | | | Summary Compensation Table CEO Total | | | Compensation Actually Paid to CEO(1) | | | Total Shareholder Return | | | Peer Group Total Shareholder Return(3) | | ||||||||||||||||||||||||||||||||||||||||||||||||||
2022 | | | | | 6,928,986 | | | | | | 4,602,019 | | | | | | n/a | | | | | | n/a | | | | | | n/a | | | | | | n/a | | | | | | 1,748,215 | | | | | | 1,223,006 | | | | | $ | 71.41 | | | | | $ | 57.05 | | | | | $ | (0.63) | | | | | $ | 0.44 | | |
2021 | | | | | 10,969,103 | | | | | | 16,792,259 | | | | | | 1,806,184 | | | | | | 1,045,480 | | | | | | n/a | | | | | | n/a | | | | | | 2,837,945 | | | | | | 1,896,724 | | | | | $ | 82.40 | | | | | $ | 92.09 | | | | | $ | (1.39) | | | | | $ | 0.68 | | |
2020 | | | | | n/a | | | | | | | | | | | | 1,783,244 | | | | | | | | | | | | 9,779,820 | | | | | | (12,920,289) | | | | | | 2,135,277 | | | | | | | | | | | $ | 55.86 | | | | | $ | 55.86 | | | | | $ | (0.70) | | | | | $ | 1.07 | | |
Year | | | 2022 | | | 2021 | | | 2021 | | | 2020 | | | 2020 | | |||||||||||||||
CEO | | | Mahbod Nia | | | Mahbod Nia | | | MaryAnne Gilmartin | | | MaryAnne Gilmartin | | | Michael DeMarco | | |||||||||||||||
SCT Total Compensation | | | | | 6,928,986 | | | | | | 10,969,103 | | | | | | 1,806,184 | | | | | | 1,783,244 | | | | | | 9,779,820 | | |
Less: Stock and Option Award Values reported in SCT for the Covered Year ($) | | | | | 4,000,000 | | | | | | 7,866,500 | | | | | | 760,704 | | | | | | 508,860 | | | | | | 3,999,999 | | |
Plus: Fair Value for Stock and Option Awards Granted in Covered Year ($) | | | | | 3,576,139 | | | | | | 13,689,656 | | | | | | — | | | | | | — | | | | | | 234,479 | | |
Change in Fair Value of Outstanding Unvested Stock and Option Awards from Prior Years ($) | | | | | (1,825,662) | | | | | | — | | | | | | — | | | | | | — | | | | | | (8,930,503) | | |
Change in Fair Value of Stock and Option Awards from Prior Years that Vested in the Covered Year ($) | | | | | (77,443) | | | | | | — | | | | | | — | | | | | | — | | | | | | (814,431) | | |
Less: Fair Value of Stock and Option Awards Forfeited during the Covered Year ($) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 9,189,655 | | |
| | | | | 4,602,019 | | | | | | 16,792,259 | | | | | | 1,045,480 | | | | | | 1,274,384 | | | | | | (12,920,289) | | |
Year | | | | | | | | | | | | | | | | | | | |
Non-CEO NEO | | | 2022 | | | 2021 | | | 2020 | | |||||||||
SCT Total Compensation | | | | | 1,748,215 | | | | | | 2,837,945 | | | | | | 2,135,277 | | |
Less: Stock and Option Award Values reported in SCT for the Covered Year ($) | | | | | 705,833 | | | | | | 1,035,000 | | | | | | 800,000 | | |
Plus: Fair Value for Stock and Option Awards Granted in Covered Year ($) | | | | | 504,003 | | | | | | 744,742 | | | | | | 374,404 | | |
Change in Fair Value of Outstanding Unvested Stock and Option Awards from Prior Years ($) | | | | | (20,368) | | | | | | 302,144 | | | | | | (1,460,302) | | |
Change in Fair Value of Stock and Option Awards from Prior Years that Vested in the Covered Year ($) | | | | | (9,368) | | | | | | 267,930 | | | | | | (64,108) | | |
Less: Fair Value of Stock and Option Awards Forfeited during the Covered Year ($) | | | | | 293,642 | | | | | | 1,221,036 | | | | | | 177,992 | | |
| | | | | 1,223,006 | | | | | | 1,896,724 | | | | | | 7,279 | | |
| 2022 VRE Peer Group: | | | | ||||
| American Asset Trust, Inc. Apartment Income REIT Corp. Apartment Investment and Management Company Armada Hoffler Properties, Inc. | | | Brandywine Realty Trust Centerspace Elme Communities (formerly Washington REIT) Empire State Realty Trust | | | Independence Realty Trust, Inc. JBG SMITH Properties Paramount Group, Inc. SL Green Realty Corp. | |
| American Asset Trust, Inc. Bluerock Residential Growth REIT, Inc. Brandywine Realty Trust Columbia Property Trust Corporate Office Properties Trust, Inc. | | | Cousins Properties Empire State Realty Trust Essential Properties Realty Trust, Inc. Highwoods Properties, Inc. Independence Realty Trust, Inc. | | | iStar Inc. JBG SMITH Properties Paramount Group, Inc. Piedmont Office Realty Trust Preferred Apartment Communities, Inc. Washington REIT | |
| Brandywine Realty Trust Columbia Property Trust Corporate Office Properties Trust, Inc. Cousins Properties | | | Douglas Emmett, Inc. Empire State Realty Trust Equity Commonwealth Highwoods Properties, Inc. Hudson Pacific Properties | | | JBG SMITH Properties Lexington Realty Trust Paramount Group, Inc. Piedmont Office Realty Trust Washington REIT | |
Measure | | | Nature | |
Absolute TSR | | | Financial Metric | |
Relative TSR | | | Financial Metric | |
Core FFO | | | Financial Metric | |
Same Store NOI(1) | | | Financial Metric | |
Plan Category | | (a) Number of Securities to be Issued Upon Exercise of Outstanding Options and Rights | | (b) Weighted Average Exercise Price of Outstanding Options and Rights | | (c) Number of Securities Remaining Available for Future Issuance Under Equity Compensation Plans (excluding securities reflected in column(a)) | | | (a) Number of Securities to be Issued Upon Exercise of Outstanding Options and Rights | | (b) Weighted Average Exercise Price of Outstanding Options and Rights | | (c) Number of Securities Remaining Available for Future Issuance Under Equity Compensation Plans (excluding securities reflected in column(a)) | | ||||||||||||||||||||||||
Equity Compensation Plans Approved by Stockholders | | | | 1,794,529(1) | | | | | 16.95(2) | | | | | 1,633,689 | | | | | | 1,794,529(1) | | | | $ | 16.95(2) | | | | | 1,633,689 | | | ||||||
Equity Compensation Plans Not Approved by Stockholders | | | | 987,603(3) | | | | | 15.79 | | | | | N/A(4) | | | | | | 987,603(3) | | | | | 15.79 | | | | | N/A(4) | | | ||||||
Total | | | | 2,782,132 | | | | | N/A | | | | | 1,633,689 | | | | | | 2,782,132 | | | | | N/A | | | | | 1,633,689 | | |
| | | |||
| | | |||
| | | |||
| | none for other Committees | | ||
| | | | ||
Audit | | | $7,500 | | |
Compensation | | | $5,000 | | |
Nominating & Corp. Governance | | | $5,000 | | |
ESG | | | $5,000 | | |
Strategic Review Committee | | | none | |
Compensation Element | | | January 1, 2021 to June 8, 2021 | | | Effective June 9, 2021 | |
Annual Board Service Cash Retainer | | | $65,000 | | | $65,000 | |
Board Meeting Fees | | | $1,500 per meeting | | | None | |
Committee Meeting Fees | | | $1,500 per meeting | | | $1,500 per meeting for Strategic Review Committee; none for other Committees | |
Committee Member Retainers | | | | | | | |
• Audit | | | none | | | $7,500 | |
• Compensation | | | none | | | $5,000 | |
• Nominating & Corp. Governance | | | none | | | $5,000 | |
• ESG | | | none | | | $5,000 | |
• Strategic Review Committee | | | none | | | none | |
Committee Chair Retainers (in addition to member retainer) | | | | | | | |
• Audit Committee Chair | | | $15,000 | | | $20,000 | |
• Other Committee Chairs | | | $15,000 | | | $15,000 | |
Non-Executive Chair Additional Retainer | | | $40,000 | | | $75,000 | |
Annual Equity Grant | | | $90,000 in restricted common stock vesting in one year | | | $100,000 in restricted common stock vesting in one year | |
Compensation Element | | | Effective June 9, 2021 | |
Committee Chair Retainers (in addition to member retainer) | | | | |
Audit Committee Chair | | | $20,000 | |
Other Committee Chairs | | | $15,000 | |
Non-Executive Chair Additional Retainer | | | $75,000 | |
Annual Equity Grant | | | $100,000 in restricted common stock vesting in one year | |
| | Fees Earned or Paid in Cash | | Stock Awards | | Total | | |||||||||||||||||||||||||||||||
Name | | ($)(1) | | ($)(2) | | ($) | | | Fees Earned or Paid in Cash ($)(1) | | Stock Awards ($)(2) | | Total ($) | | ||||||||||||||||||||||||
Tammy K. Jones, Chair | | | | 163,464 | | | | | 100,008 | | | | | 263,472 | | | | | | 165,500 | | | | | 99,995 | | | | | 265,495 | | | ||||||
Alan R. Batkin(1) | | | | 99,929 | | | | | 100,008 | | | | | 199,937 | | | | | | 97,500 | | | | | 99,995 | | | | | 197,495 | | | ||||||
Michael Berman | | | | 49,750 | | | | | — | | | | | 49,750 | | | ||||||||||||||||||||||
Frederic Cumenal(1) | | | | 117,789 | | | | | 100,008 | | | | | 217,797 | | | | | | 98,000 | | | | | 99,995 | | | | | 197,995 | | | ||||||
MaryAnne Gilmartin | | | | 18,333 | | | | | — | | | | | 18,333 | | | ||||||||||||||||||||||
A. Akiva Katz | | | | 122,077 | | | | | 100,008 | | | | | 222,085 | | | ||||||||||||||||||||||
A. Akiva Katz(1) | | | | 103,000 | | | | | 99,995 | | | | | 202,995 | | | ||||||||||||||||||||||
Nori Gerardo Lietz(1) | | | | 97,577 | | | | | 100,008 | | | | | 197,585 | | | | | | 90,000 | | | | | 99,995 | | | | | 189,995 | | | ||||||
Victor B. MacFarlane(1) | | | | 43,400 | | | | | 100,008 | | | | | 143,408 | | | | | | 77,500 | | | | | 99,995 | | | | | 177,495 | | | ||||||
Mahbod Nia(1)(3) | | | | 24,097 | | | | | — | | | | | 24,097 | | | ||||||||||||||||||||||
Howard Stern | | | | 98,718 | | | | | 100,008 | | | | | 198,726 | | | | | | 97,500 | | | | | 99,995 | | | | | 197,495 | | |
| | | | By Order of the Board of Directors, | |
| | | | | |
| | | | Taryn D. Fielder General Counsel and Secretary | |
| ATTEST: | | | VERIS RESIDENTIAL, INC. | |
| Taryn Fielder General Counsel and Secretary | | | By: Mahbod Nia Chief Executive Officer | |