How Mitra was paid
$821.1M 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 |
|---|---|---|---|---|---|
| Shankh MitraChief Executive Officer | $1,300,000 | $813,178,818 | $6,500,000 | $111,537 | $821,090,355 |
| Timothy G. McHughCo-President and Chief Financial Officer | $700,000 | $163,753,640 | $2,450,000 | $51,500 | $166,955,140 |
| Nikhil ChaudhriCo-President and Chief Investment Officer | $700,000 | $182,258,595 | $2,800,000 | $51,850 | $185,810,445 |
| John F. BurkartVice Chairman and Chief Operating Officer | $650,000 | $97,264,200 | $2,275,000 | $51,500 | $100,240,700 |
| Matthew G. McQueenChief Legal Officer and General Counsel | $625,000 | $90,906,797 | $1,875,000 | $51,500 | $93,458,297 |
What changed and why
- $821.1MShankh Mitra received total compensation of $821,090,355 in 2025, heavily driven by the adoption of the 10-Year Executive Continuity and Alignment Program.
- The company implemented the 10-Year ECAP, replacing traditional annual incentives and long-term incentives through 2035 with multi-year performance and time-based LTIP units.
- $110KBase salaries for NEOs under the 10-Year ECAP are set at $110,000 annually starting after the transition.
- 228.2%Total shareholder return reached 228.2% cumulatively for the 2021-2025 period, establishing record shareholder value creation among S&P 500 REITs.
- The CEO-to-median-employee pay ratio for fiscal 2025 was calculated at 6,569 to 1 based on total 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.