How Kavanaugh was paid
$274,060 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 | Total |
|---|---|---|---|
| Francis P. KavanaughCEO and President | $75,000 | $199,060 | $274,060 |
| C. Brent Winn, Jr.Chief Financial Officer | $175,000 | $99,067 | $274,067 |
What changed and why
- $274K$274,060 was CEO Francis P. Kavanaugh’s total compensation in 2025, compared with $265,000 in 2024.
- $199K$199,060 of Kavanaugh’s 2025 compensation consisted of equity awards.
- $274K$274,067 was CFO C. Brent Winn, Jr.’s total compensation in 2025, including $175,000 salary and $99,067 equity awards.
- $175K$175,000 in operating partnership units replaced part of Kavanaugh’s annual cash compensation in 2025.
- $75,007$75,007 in common stock replaced part of Winn’s annual cash compensation in 2025.
- No named executive officer received pension benefits or nonqualified deferred compensation.
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.