How Heilbron was paid
$613,497 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 |
|---|---|---|---|---|---|
| Jack K. HeilbronChairman of the Board, President and CEO | $450,000 | $104,200 | — | $59,297 | $613,497 |
| Gary M. KatzChief Investment Officer and former SVP, Asset Management | $332,061 | $156,300 | $31,200 | $32,892 | $552,453 |
| Ed BentzenChief Financial Officer | $236,900 | $78,150 | $31,200 | $29,662 | $375,912 |
What changed and why
- $747KJack K. Heilbron total compensation decreased from $747,031 in 2024 to $613,497 in 2025.
- $450KJack K. Heilbron base salary increased to $450,000 in 2025 from $447,297 in 2024.
- $104KStock awards for Jack K. Heilbron decreased to $104,200 in 2025 from $232,000 in 2024.
- 100%Executive employment agreements feature base salaries with annual reviews and target bonuses up to 100% of base salary.
- 88%Approximately 88% of the votes cast approved the advisory say-on-pay proposal at the 2025 annual meeting.
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.