How Parrell was paid
$12.8M 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 | Options | Incentive | Other | Total |
|---|---|---|---|---|---|---|
| Mark J. ParrellPresident & Chief Executive Officer | $900,000 | $8,023,668 | $1,498,741 | $2,317,613 | $19,165 | $12,759,187 |
| Bret D. McLeodExecutive Vice President & Chief Financial Officer | $245,616 | $1,249,944 | $0 | $825,481 | $2,822 | $2,323,863 |
| Robert A. GarechanaExecutive Vice President & Chief Investment Officer | $625,000 | $2,640,380 | $359,299 | $1,102,219 | $21,486 | $4,748,384 |
| Michael L. ManelisExecutive Vice President & Chief Operating Officer | $675,000 | $3,434,086 | $0 | $1,165,084 | $22,656 | $5,296,826 |
| Alexander BrackenridgeExecutive Vice President - Investments | $625,000 | $2,883,387 | $0 | $1,149,094 | $11,947 | $4,669,428 |
| Scott J. FensterExecutive Vice President & General Counsel | $550,000 | $1,542,266 | $0 | $759,462 | $18,935 | $2,870,663 |
What changed and why
- $12.8MChief Executive Officer total compensation increased to $12,759,187 in 2025 from $11,359,954 in 2024.
- 92%Approximately 92 percent of Chief Executive Officer pay is tied solely to performance.
- Annual incentive plan awards were subject to objective pre-defined metrics such as same store net operating income growth.
- Long-term incentive plan awards utilized relative total shareholder return and net debt to normalized EBITDAre metrics.
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.