How Schwimmer was paid
$25.9M 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 |
|---|---|---|---|---|---|
| Howard SchwimmerFormer Co-CEO | $1,000,000 | $24,856,439 | — | $36,248 | $25,892,687 |
| Michael S. FrankelFormer Co-CEO | $1,000,000 | $24,856,439 | — | $16,748 | $25,873,187 |
| Laura ClarkChief Executive Officer | $700,000 | $7,380,284 | $1,200,151 | $216,748 | $9,497,183 |
| Michael FitzmauriceChief Financial Officer | $600,000 | $2,323,834 | $1,028,701 | $217,856 | $4,170,391 |
| David E. LanzerGeneral Counsel and Secretary | $565,000 | $1,783,506 | $950,472 | $21,748 | $3,320,726 |
What changed and why
- CEO succession plan was implemented to reposition the company and strengthen its long-term foundation.
- Co-CEOs received one-time restricted stock awards under transition and separation agreements.
- $8.5MTarget compensation for the current CEO was set at $8.5 million to better align with peers.
- 60%Performance-vesting LTIP units increased to 60% of long-term compensation.
- 100%Core FFO per share growth was eliminated as a metric in favor of 100% relative TSR.
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.