How Lukes was paid
$3.3M in total for 2025, as reported in the Summary Compensation Table. Equity awards are valued at grant, not at what they turned out to be worth.
Named executive officers
| Executive | Salary | Stock | Incentive | Other | Total |
|---|---|---|---|---|---|
| David R. LukesChief Executive Officer and President | $50,000 | $789,045 | $2,400,000 | $40,916 | $3,279,961 |
| Conor M. FennertyExecutive Vice President, Chief Financial Officer and Treasurer | $600,000 | $1,252,912 | $900,000 | $21,497 | $2,774,409 |
| John M. CattonarExecutive Vice President and Chief Investment Officer | $500,000 | $1,154,302 | $750,000 | $11,781 | $2,416,083 |
| Lesley H. SolomonExecutive Vice President General Counsel & Secretary | $400,000 | $350,287 | $300,000 | $12,000 | $1,062,287 |
What changed and why
- $788.4MAcquired 79 convenience shopping centers for an aggregate purchase price of $788.4 million.
- $39.8MAchieved net income of $39.8 million or $0.37 per diluted share.
- 3.3%Generated same property net operating income growth of 3.3% in 2025.
- 19.4%Achieved cash new leasing spreads of 19.4% for comparable leases executed in 2025.
- 96.7%Portfolio leased rate reached 96.7% at December 31, 2025.
About this page
Figures are automated and can be wrong; check the filing for the exact numbers. Totals follow SEC rules, which value stock and option awards at grant. Read the DEF 14A proxy statement for footnotes and the compensation committee's full reasoning.