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IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR OUR ANNUAL MEETING TO BE HELD ON JUNE 9, 2021.
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Our Proxy Statement and 2020 Annual Report on Form 10-K for the year ended December 31, 2020 (“2020 Annual Report”) are available on our website at http://investors.mack-cali.com/sec-filings or www.proxyvote.com. On or about April 28, 2021, we will have sent to certain of our stockholders a Notice of Internet Availability of Proxy Materials, which includes instructions on how to access these materials and vote online. Stockholders who do not receive the Notice of Internet Availability of Proxy Materials will continue to receive either a paper or an electronic copy of our proxy materials, which will be sent on or about April 28, 2021.
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| | | | | A-1 | | |
Name of Beneficial Owner
|
| |
Amount and
Nature of Beneficial Ownership |
| |
Percent of
Class (%)(1) |
| ||||||
BlackRock, Inc.(2)
|
| | | | 15,654,125 | | | | | | 17.3% | | |
The Vanguard Group, Inc.(3)
|
| | | | 12,764,221 | | | | | | 14.1% | | |
The Mack Group(4)
|
| | | | 7,452,969 | | | | | | 8.2% | | |
Madison International Realty Holdings, LLC(5)
|
| | | | 6,409,183 | | | | | | 7.1% | | |
FMR LLC(6)
|
| | | | 5,039,510 | | | | | | 5.6% | | |
Nominee
|
| |
Age
|
| |
Position with
Company |
| |
Committee Membership
|
| ||||||||||||||||||||||||||||||
|
A
|
| |
ECO
|
| |
NCG
|
| |
ESG
|
| |
SR
|
| ||||||||||||||||||||||||||
Alan R. Batkin
|
| | | | 76 | | | | Director | | | | | C | | | | | | | | | | | | | | | | | | | | | | | | | | |
Frederic Cumenal
|
| | | | 61 | | | | Director | | | | | | | | | | | C | | | | | | | | | | | | | | | | | | M | | |
Tammy K. Jones
|
| | | | 55 | | | | Chair | | | | | M | | | | | | | | | | | | | | | | | | M | | | | | | M | | |
A. Akiva Katz
|
| | | | 43 | | | | Director | | | | | | | | | | | M | | | | | | M | | | | | | | | | | | | C | | |
Nori Gerardo Lietz
|
| | | | 64 | | | | Director | | | | | | | | | | | | | | | | | C | | | | | | M | | | | | | | | |
Mahbod Nia
|
| | | | 45 | | | | Director | | | | | | | | | | | | | | | | | | | | | | | M | | | | | | M | | |
Howard S. Stern
|
| | | | 59 | | | | Director | | | | | M | | | | | | | | | | | | M | | | | | | C | | | | | | | | |
Victor B. MacFarlane
|
| | | | 70 | | | |
Director Nominee
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|
Age
|
| | 55 | |
|
Occupation
|
| | Co-Founder & Chief Executive Officer, Basis Investment Group | |
|
Experience
|
| | Tammy K. Jones is currently the Chair of our Board of Directors and formerly served as Lead Independent Director since June 2020. Ms. Jones also serves as a member of the Environmental, Social and Governance Committee, the Audit Committee and the Strategic Review Committee of the Board of Directors. | |
| | | | Ms. Jones is the Co-Founder & Chief Executive Officer of Basis Investment Group, a multi-strategy commercial real estate investment manager that deploys capital on behalf of some of the largest public pension plans, sovereigns and family offices in the country. She has over 25 years of commercial real estate experience investing and lending across the capital stack and all property types with a focus on multifamily and office. | |
| | | | Prior to joining Basis, Ms. Jones invested in and loaned on CRE assets on behalf of large pension funds and institutional investors including CWCapital (the U.S. debt investment platform owned by Caisse de dépôt, one of the largest pension fund managers in Quebec) from 2004 to 2009, serving as head of CW’s fixed and floating rate Capital Markets Lending Division and closing approximately $6B in transactions and GMACCM (one of the largest CRE lenders, owned by GM) between 1997 and 2004, where Ms. Jones was a Senior Vice President of GMACCM subsidiary (now Berkadia) (GMAC) and part of the leadership team responsible for creating GMAC’s Capital Markets lending division. Prior to her seven years with GMAC, she held various positions on the equity and asset management side of the business at Equitable Real Estate (largest pension fund advisor and investment management firm at the time). | |
| | | | Ms. Jones is currently an Independent Director of Crown Castle International Corp. (NYSE: CCI). In addition, Ms. Jones formerly | |
| | | | served as an Independent Director for Monogram Residential Trust, Inc. (NYSE: MORE), which was acquired by an affiliate of Greystar Growth, an income fund, yielding a premium of 22% over the share price. Ms. Jones Chairs the Real Estate Executive Council, a trade organization dedicated to creating a pipeline of diversity in commercial real estate and is also a member of the Executive Leadership Council. | |
| | | | Ms. Jones was selected as one of Crain’s New York Business’ Notable Black Leaders and Executives of 2021, received the 2020 Cornell Baker Industry Leader Award, received the Council of Urban Professionals (CUP) 2019 Finance Catalyst Award and was recognized as one of The Network Journal’s 25 Most Influential Black Women in Business in 2017. Ms. Jones received a B.A. in Economics from Cornell University and an MBA with a concentration in Real Estate Finance from the J. Mack Robinson College of Business at Georgia State University. | |
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Board Service
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| | Mack-Cali Realty Corporation (June 2020 – Present); Crown Castle International Corp. (November 2020 – Present); Monogram Residential Trust, Inc. (2016 – 2017). | |
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Skills & Qualifications
|
| | Ms. Jones’ qualifications to serve as a director include her unique blend of capital markets and commercial real estate expertise, her experience as a CEO of a commercial real estate investment manager and her experience on the board of directors at public REITs. | |
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Age
|
| | 45 | |
|
Occupation
|
| | Chief Executive Officer of Mack-Cali Realty Corporation | |
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Experience
|
| | Mahbod Nia serves as the Chief Executive Officer of the Company. Most recently he served as Chief Executive Officer of NorthStar Realty Europe Corp (“NRE”), a NYSE listed REIT focused on European properties from 2015 to 2019. He also served as a member of NRE’s investment committee and board of directors from 2018 to 2019. From 2017 to 2019, Mr. Nia was also a Managing Director at Colony Capital Inc. (formerly Colony NorthStar) and member of the European Steering Committee. | |
| | | | Mr. Nia served as Managing Director, Head of European Investments of NorthStar Asset Management Group (“NSAM”) from 2014 to 2017, where he worked to establish the company’s European investment platform, rapidly growing it to $2.6bn in Assets Under Management across nine countries and five asset classes. This platform was spun-off in 2015 to create NRE, which was sold to AXA Investment Managers — Real Assets in September of 2019, realizing a 16% IRR for stockholders since its inception. | |
| | | | Prior to joining NSAM in 2014, he acted for PanCap Investment Partners, a European real estate investment and advisory firm. From 2007 to 2009, Mr. Nia was a Senior Executive Director at Goldman Sachs. Prior to 2007, he served in various positions at Citigroup Inc. (formerly Salomon Brothers). Mr. Nia has served on our Board of Directors since June 2020 and is a member of the Strategic Review Committee and the Environmental, Social and Governance | |
| | | | Committee. | |
| | | | He received a First Class Honours degree in Economics for Business from the University of Westminster (London, UK) and a Master’s degree in Economics & Finance from the University of Warwick (Warwick, UK). | |
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Board Service
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| | Mack-Cali Realty Corporation (June 2020 – Present); NorthStar Realty Europe Corp (2015 – 2019). | |
|
Skills & Qualifications
|
| | Mr. Nia’s qualifications to serve as a director and as Chief Executive Officer include his years of experience spanning real estate investment, debt and advisory, his intimate knowledge of the real estate investment management sector, his time as CEO of a publicly traded REIT, and his experience in successfully selling a publicly traded REIT. | |
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Age
|
| | 76 | |
|
Occupation
|
| | Retired | |
|
Experience
|
| | Alan R. Batkin served as the Chief Executive Officer and Chairman of the Board of Directors of Converse Associates, Inc., a strategic advisory firm, from 2013 until 2020. From 2007 until 2012, Mr. Batkin served as Vice Chairman of Eton Park Capital Management, L.P., a global multi-disciplinary investment firm. Previously, from 1990 until 2006, Mr. Batkin served as Vice Chairman of Kissinger Associates, Inc., a geopolitical consulting firm that advises multi-national companies. | |
| | | | Mr. Batkin has extensive public company board experience, as he served as Chairman of the Board of Directors of Pattern Energy Group Inc. from 2013 to 2020, a Board member of Omnicom Group Inc. from 2008 to 2020, and Lead Director of Cantel Medical Corp. since 2004. Mr. Batkin previously served on the Board of Directors of Hasbro, Inc., from 1992 until 2017. He has also served on our Board of Directors since June 2019 and is the Chair of the Audit Committee. | |
| | | | Mr. Batkin received a B.S. from the University of Rochester and an M.B.A. from New York University Graduate School of Business. | |
|
Board Service
|
| | Mack-Cali Realty Corporation (2019 – Present); Cantel Medical Corp. (2004 – Present); Pattern Energy Group Inc. (2013 – 2020); Omnicom Group Inc. (2008 – 2020); Hasbro, Inc. (1992 – 2017). | |
|
Skills & Qualifications
|
| | Mr. Batkin’s qualifications to serve as a director include his extensive leadership experience, broad business knowledge, and proven track record of success over nearly twenty-nine years of serving on various boards of directors. | |
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Age
|
| | 61 | |
|
Occupation
|
| | Independent Director at Blue Nile, Inc. | |
|
Experience
|
| | Frederic Cumenal has served on the Board of Directors of Blue Nile, Inc., an online jewelry retailer, since 2017. Previously, Mr. Cumenal | |
| | | | served as the Chief Executive Officer of Tiffany & Co. from 2015 to 2017, as President from 2013 to 2015, and as Executive President with responsibility for sales and global distribution from 2011 to 2013. Prior to his service at Tiffany, Mr. Cumenal served for fifteen years in senior leadership positions in LVMH Group’s wine and spirits businesses, including as President and Chief Executive Officer of Moët & Chandon, S.A. Previously, Mr. Cumenal served as Chief Executive Officer of Domaine Chandon and was Managing Director of Moët Hennessy Europe. Mr. Cumenal also served as Executive Vice President of Marketing, Strategy and Development at Ferruzi Group and was a Brand Manager at Procter & Gamble, France S.A.S. | |
| | | | Mr. Cumenal has significant public company board experience, having previously served on the Board of Directors of Constellation Brands, Inc. from 2016 to 2017. Mr. Cumenal also served on the Board of Directors of Tiffany & Co. from 2013 until 2017. Mr. Cumenal has served on our Board of Directors since June 2019, is the Chair of the Executive Compensation and Option Committee and a member of the Strategic Review Committee. | |
| | | | Mr. Cumenal is a graduate of Institut d’Études Politiques and holds an M.B.A. from Ecole Superieure des Sciences Economiques et Commerciales. | |
|
Board Service
|
| | Mack-Cali Realty Corporation (2019 – Present); Constellation Brands, Inc. (2016 – 2017); Tiffany & Co. (2013 – 2017). | |
|
Skills & Qualifications
|
| | Mr. Cumenal’s qualifications to serve as a director include his deep knowledge of international business and brand management along with his operational knowledge and leadership experience stemming from running major companies along with his public company board experience. | |
|
Age
|
| | 43 | |
|
Occupation
|
| | Co-Founder and Managing Partner, Bow Street LLC | |
|
Experience
|
| | A. Akiva Katz is Co-Founder and a Managing Partner at Bow Street LLC. He also serves as a manager of TransAtlantis Funding LLC. Prior to founding Bow Street, Mr. Katz served as a Managing Director at Brahman Capital Corp. from 2007 to 2011. Mr. Katz has served on our Board of Directors since June 2020, and serves as Chair of the Strategic Review Committee and is a member of each of the Nominating and Corporate Governance Committee and the Executive Compensation and Option Committee. | |
| | | | Mr. Katz received a B.A. in Philosophy and Economics from York University, and an M.B.A. from Harvard Business School. | |
|
Board Service
|
| | Mack-Cali Realty Corporation (June 2020 – Present). | |
|
Skills & Qualifications
|
| | Mr. Katz’s qualifications to serve as a director include his extensive knowledge of financial markets, experience investing in real estate and his broad investing experience derived from serving at major investment firms. | |
|
Age
|
| | 64 | |
|
Occupation
|
| |
Senior Lecturer of Business Administration, Harvard Business School
|
|
|
Experience
|
| | Nori Gerardo Lietz is a Senior Lecturer of Business Administration in the Finance and Entrepreneurial Management Units at Harvard Business School where she currently teaches Real Estate Private Equity and Venture Capital Private Equity. | |
| | | | Ms. Gerardo Lietz is the President of Areté Capital, a real estate advisory firm she founded in 2010. From 2007 to 2011, Ms. Gerardo Lietz was a Partner and Chief Strategist for Private Real Estate and a member of the Global Investment Committee at Partners Group Holding AG. Ms. Gerardo Lietz co-founded Pension Consulting Alliance, Inc. in 1988 and served as a Managing Director while developing its real estate investment management and advisory activities until 2007. In 1985, Ms. Gerardo Lietz co-founded Public Storage Institutional, Inc., an institutional money management firm deploying pension capital to acquire real estate assets, where she served as Senior Vice President until 1988. Ms. Gerardo Lietz practiced law in the corporate department of Paul Hastings LLP from 1982 to 1985. | |
| | | | Ms. Gerardo Lietz has served on our Board of Directors since June 2019 and serves as the Chair of the Nominating and Corporate Governance Committee and a member of the Environmental, Social and Governance Committee. Ms. Gerardo Lietz is a former member of the Pension Real Estate Association Board of Directors and the Real Estate Research Institute Board of Directors. Ms. Gerardo Lietz currently serves as a Director of Jaguar Capital S.A.S. Ms. Gerardo Lietz also serves on the Board of USA Water Polo, Inc., the national governing body of the sport of water polo. | |
| | | | Ms. Gerardo Lietz received an A.B. with honors from Stanford University in 1979 and a J.D. from the UCLA School of Law in 1982, where she was Chief Comment Editor of the UCLA Law Review. | |
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Board Service
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| | Mack-Cali Realty Corporation (2019 – Present). | |
|
Skills & Qualifications
|
| | Ms. Gerardo Lietz’s qualifications to serve as a director include her three decades of experience operating real estate practices with institutional investors and her intimate knowledge of the real estate investment management sector. | |
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Age
|
| | 59 | |
|
Occupation
|
| | Founder and Principal, Stern & Associates, LLC | |
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Experience
|
| | Howard S. Stern is the Founder and Principal of Stern & Associates, LLC, a full-service real estate advisory and consulting firm, which he founded in 2014. In addition to his real estate advisory practice, Mr. Stern is Principal and Co-Founder of DSHS Student Housing Investment Group, a real estate vehicle that focuses only on student housing. From 2010 to January 2014, Mr. Stern served as President and Director of Hudson Pacific Properties Inc. (“Hudson Pacific”), a California-based office REIT. In 2006, Mr. Stern co-founded Hudson | |
| | | | Capital, the predecessor company of Hudson Pacific, and in 2010, Hudson Capital went public and upon going public was renamed and formed Hudson Pacific. From 2000 to 2006, Mr. Stern served as Chief Investment Officer of Arden Realty, Inc. (“Arden Realty”), a twenty million square foot Southern California REIT that was sold to GE Capital in 2006. In this role, Mr. Stern was responsible for all facets of Arden Realty’s acquisition, disposition and structured finance activities. From 1996 to 1999, Mr. Stern served as Vice President of the Archon Group, a subsidiary of Goldman, Sachs & Co., where he was responsible for leading all western region mezzanine financing and real estate asset management activities. From 1991 to 1995, he served as Vice President and Manager of First Federal Republic Bank and from 1987 to 1991, he served as Senior Asset Manager and Asset Manager for Unity Savings and Gibraltar Savings. Mr. Stern has served on our Board of Directors since June 2020, is Chair of the Environmental, Social and Governance Committee and is a member of each of the Audit Committee and the Nominating and Corporate Governance Committee. | |
| | | | Mr. Stern holds a B.A. in Political Economy from the University of California, Berkeley and an M.B.A. from the University of Southern California. | |
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Board Service
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| | Mack-Cali Realty Corporation (June 2020 – Present); Hudson Pacific Properties Inc. (2010 – 2014). | |
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Skills & Qualifications
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| | Mr. Stern’s qualifications to serve as a director include his experience in the real estate advisory business, his extensive knowledge of the commercial aspects of the REIT sector and his entrepreneurial experience with the real estate industry. | |
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Age
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| | 70 | |
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Occupation
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| | Chairman and Chief Executive Officer of MacFarlane Partners | |
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Experience
|
| | Victor B. MacFarlane is Chairman and Chief Executive Officer of MacFarlane Partners, a real estate investment management and development firm he founded in 1987 that acquires, develops and manages properties on behalf of institutional investors and its own account. He has primary responsibility for the firm’s investment management and development activities, chairs its investment committee and serves on its senior management committee. | |
| | | | Mr. MacFarlane has more than 40 years of real estate experience, during which he has worked extensively in property development, acquisitions, asset management and portfolio management on behalf of some of the world’s largest pension plans and institutions. Under his leadership, MacFarlane Partners pioneered the urban investment concept among institutional real estate managers in the 1990s and today is an industry leader in urban/smart-growth development. Through its urban real estate program, the firm has invested in $13 billion in properties totaling eight million square feet of commercial space and 15,000 multifamily housing units in major markets nationwide. | |
| | | |
Mr. MacFarlane began his real estate career in 1979 with Aetna Life &
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| | | | Casualty Company, where he helped acquire and manage more than $1 billion in real estate assets. He later developed and managed, for his own account, an award-winning apartment community in Denver. | |
| | | | In 1996, Mr. MacFarlane sold the $2 billion core separate-account investment management business of MacFarlane Partners to GE Capital and then served for three years as Chief Executive Officer of GE Capital Investment Advisors. During that period, he also spearheaded initiatives in Asia, Mexico and Eastern Europe for GE Capital Real Estate, an affiliate with $20 billion in real estate assets worldwide. | |
| | | | At the end of his contractual commitment in April 1999, Mr. McFarlane resigned from GE Capital and began rebuilding MacFarlane Partners as an investment manager focusing on urban properties and other high-yielding investments that, at its peak, managed $20 billion in real estate assets, and as entrepreneurial firm that invested in properties promoting smart growth, urban revitalization and sustainability. The firm in recent years has refocused itself as a real estate operating and development company, while maintaining its urban investment management business. | |
| | | | Mr. MacFarlane is a past recipient of a Distinguished Business Leadership Award from the USC School of Architecture; a Lifetime Achievement Award and the 2008 Executive of the Year Award from the Greater Los Angeles African American Chamber of Commerce; the National Inner City Economic Leadership Award from the Initiative for a Competitive Inner City; the Trailblazer Achievement Award from the Global Diversity Summit, and a Distinguished Alumni Award from the Joseph M. Katz Graduate School of Business at the University of Pittsburgh. He also holds an honorary doctor of law degree from the University of the District of Columbia. | |
| | | | Mr. MacFarlane serves on the boards of directors of Site Centers Corp., Overland Tandberg and the Real Estate Executive Council; the advisory board of the Robert Toigo Foundation; and the board of advisors for the UCLA School of Law. He also is a member and former director of the Pension Real Estate Association; a member and former trustee of the Urban Land Institute; and a member of the Association of Foreign Investors in Real Estate, the International Council of Shopping Centers, and the World Presidents Organization. | |
| | | | Mr. MacFarlane received a B.A. in University Studies from the University of New Mexico, a J.D. from the UCLA School of Law and an M.B.A. from the University of Pittsburgh. | |
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Board Service
|
| | Site Centers Corp. (2002 – Present). | |
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Skills & Qualifications
|
| | Mr. MacFarlane will bring to our Board of Directors three decades of experience as a chief executive officer of a real estate investment and advisory firm and over 40 years of experience in the areas of real estate investment, corporate finance, portfolio management and risk management. His extensive managerial experience as well as his knowledge of the real estate and private capital industries will provide our Board of Directors with an expansive view on issues impacting the Company and our corporate strategy. | |
Name and Position
|
| |
Age
|
| |
First
Elected |
| |
Term
Expires |
| |
Number of
Shares(1)(2) |
| |
Percent of
Shares Outstanding (%)(3) |
| |
Percent of
Shares Outstanding (calculated on a fully diluted basis) (%)(4) |
| ||||||||||||||||||
Tammy K. Jones,
Chair of the Board |
| | | | 55 | | | | | | 2020 | | | | | | 2021 | | | | | | 5,886 | | | | | | * | | | | | | * | | |
MaryAnne Gilmartin
|
| | | | 57 | | | | | | 2019 | | | | | | 2021 | | | | | | 182,650(5) | | | | |
|
*
|
| | | |
|
*
|
| |
Mahbod Nia,
Chief Executive Officer and Director |
| | | | 45 | | | | | | 2020 | | | | | | 2021 | | | | | | 5,886(6) | | | | |
|
*
|
| | | |
|
*
|
| |
Marshall B. Tycher,
Chairman of Roseland |
| | | | 66 | | | | | | — | | | | | | — | | | | | | 672,630(7) | | | | |
|
*
|
| | | |
|
*
|
| |
David J. Smetana,
Chief Financial Officer |
| | | | 49 | | | | | | — | | | | | | — | | | | | | 125,253(8) | | | | |
|
*
|
| | | |
|
*
|
| |
Giovanni M. DeBari,
Chief Accounting Officer |
| | | | 49 | | | | | | — | | | | | | — | | | | | | 38,111(9) | | | | | | * | | | | | | * | | |
Gary T. Wagner,
General Counsel |
| | | | 60 | | | | | | — | | | | | | — | | | | | | 149,086(10) | | | | |
|
*
|
| | | |
|
*
|
| |
Ricardo Cardoso,
Executive Vice President and Chief Investment Officer |
| | | | 48 | | | | | | — | | | | | | — | | | | | | 505,656(11) | | | | |
|
*
|
| | | |
|
*
|
| |
Alan R. Batkin, Director
|
| | | | 76 | | | | | | 2019 | | | | | | 2021 | | | | | | 12,155 | | | | |
|
*
|
| | | |
|
*
|
| |
Michael Berman, Director
|
| | | | 63 | | | | | | 2020 | | | | | | 2021 | | | | | | 5,886 | | | | |
|
*
|
| | | |
|
*
|
| |
Frederic Cumenal, Director
|
| | | | 61 | | | | | | 2019 | | | | | | 2021 | | | | | | 10,155 | | | | |
|
*
|
| | | |
|
*
|
| |
A. Akiva Katz, Director
|
| | | | 43 | | | | | | 2020 | | | | | | 2021 | | | | | | 3,553,934(12) | | | | | | 3.9% | | | | | | 3.4% | | |
Nori Gerardo Lietz, Director
|
| | | | 64 | | | | | | 2019 | | | | | | 2021 | | | | | | 10,155 | | | | |
|
*
|
| | | |
|
*
|
| |
Howard S. Stern, Director
|
| | | | 59 | | | | | | 2020 | | | | | | 2021 | | | | | | 5,886 | | | | |
|
*
|
| | | |
|
*
|
| |
Victor B. MacFarlane, Director Nominee
|
| | | | 70 | | | | | | — | | | | | | — | | | | | | * | | | | | | * | | | | |
|
*
|
| |
All directors, executive officers
and nominees as a group (15 individuals) |
| | | | | | | | | | | | | | | | | | | | | | 5,283,329(13) | | | | | | 5.7% | | | | | | 5.1% | | |
| | |
Year-On-Year (2019-2020) Decline in
Overall Portfolio |
| |||
Total Energy Use (kBTU)
|
| | | | -13.7% | | |
Total Electricity Use (kBTU)
|
| | | | -14.9% | | |
Scope 1 and Scope 2 Greenhouse Gas Emissions (mt CO2)
|
| | | | -14.2% | | |
Water Withdrawn (m3)
|
| | | | -3.2% | | |
Executive Officer
|
| |
2019 Base Salary
|
| |
2020 Base Salary
|
| ||||||
Marshall B. Tycher
|
| | | $ | 800,000 | | | | | $ | 800,000 | | |
David J. Smetana
|
| | | $ | 450,000 | | | | | $ | 450,000 | | |
Ricardo Cardoso
|
| | | $ | 450,000 | | | | | $ | 550,000 | | |
Gary T. Wagner
|
| | | $ | 450,000 | | | | | $ | 450,000 | | |
Michael J. DeMarco(1)
|
| | | $ | 800,000 | | | | | $ | 800,000 | | |
Nicholas A. Hilton(2)
|
| | | $ | 450,000 | | | | | $ | 450,000 | | |
Executive
|
| |
Threshold
|
| |
Target
|
| |
Maximum
|
| |||||||||
Marshall B. Tycher
|
| | | | 50% | | | | | | 125% | | | | | | 200% | | |
David J. Smetana
|
| | | | 50% | | | | | | 100% | | | | | | 125% | | |
Ricardo Cardoso
|
| | | | 50% | | | | | | 100% | | | | | | 125% | | |
Gary T. Wagner
|
| | | | 50% | | | | | | 100% | | | | | | 125% | | |
Michael J. DeMarco(1)
|
| | | | 75% | | | | | | 175% | | | | | | 250% | | |
Nicholas A. Hilton(2)
|
| | | | 50% | | | | | | 100% | | | | | | 125% | | |
Metric
|
| |
Weight
|
| |
Threshold
|
| |
Target
|
| |
Maximum
|
|
Core Funds From Operations (FFO) per Share(1)
|
| |
25%
|
| |
$1.24
|
| |
$1.30
|
| |
$1.36
|
|
Adjusted FFO (AFFO) per Share(2)
|
| |
25%
|
| |
$0.75
|
| |
$0.80
|
| |
$0.85
|
|
Non-Financial Strategic Objectives(3)
|
| |
30%
|
| |
5 of 10
|
| |
7 of 10
|
| |
9 of 10
|
|
Individual Performance
|
| |
20%
|
| |
Compensation Committee’s Discretion
|
|
|
Strategic Goal
|
| |
Description of Performance
|
| |
Goal
Achieved? |
|
|
Repayment of at least 50% of corporate debt outstanding ($450 million of $900 million)
|
| |
$304M in corporate debt paid down (68% achievement)
|
| |
|
|
|
Completion of sales, contracts, or letters of intent for the majority of assets in each of four major suburban parks (Parsippany/Giralda; Monmouth (including Princeton); Short Hills; and Metropark)
|
| |
As of year-end, $271M of sales in the major suburban parks were completed, with an additional $695M under contract
|
| |
|
|
|
Successful negotiation of a new credit facility
|
| |
Not completed due to COVID-19-related financing difficulties
|
| |
|
|
|
Execution of contracts for disposition of certain non-core multi-family properties
|
| |
Sale of Crystal House closed on December 31, 2020 for $377M; further dispositions were delayed by the COVID-19 environment (75% of this goal was considered achieved)
|
| |
|
|
|
Achievement of an 80% occupancy rate at the Company’s Hudson River waterfront properties or signing an anchor tenant lease for our “Plaza 1” development
|
| |
76.9% leased as of end of 2020 (COVID-19 impact on office utilization prevented achievement of 80% occupancy)
|
| |
|
|
|
Completion of four multi-family projects in our construction pipeline
|
| |
One project delivered before end of 2020; two projects commenced leasing operations in early February 2021 following construction delays;
|
| |
|
|
|
Strategic Goal
|
| |
Description of Performance
|
| |
Goal
Achieved? |
|
| | | | final project delivered in early 2021 (50% of this goal was considered achieved) | | | | |
|
Agreement on terms for refinancing our Monaco multi-family facility loan
|
| |
Facility refinanced in Q4 2020 with Northwestern Mutual
|
| |
|
|
|
Substantial elimination of our bonds maturing in April 2022
|
| |
None of April 2022 bond issue eliminated due to COVID-19 delays in sales of suburban office assets (which delayed receipt of cash proceeds)
|
| |
|
|
|
Retirement of at least 600,000 units in our Operating Partnership to simplify our capital structure
|
| |
As of year-end, approximately 121,000 units had been retired and an additional 678,000 units were under contract for retirement
|
| |
|
|
|
Commencement of construction on our Park Parcel property
|
| |
Construction delayed due to COVID-19
|
| |
|
|
Executive Officer
|
| |
2020 Bonus
|
| |||
Marshall B. Tycher
|
| | | $ | 970,000 | | |
David J. Smetana
|
| | | $ | 416,250 | | |
Ricardo Cardoso
|
| | | $ | 508,750 | | |
Gary T. Wagner
|
| | | $ | 416,250 | | |
Michael J. DeMarco(1)
|
| | | | — | | |
Nicholas A. Hilton(2)
|
| | | | — | | |
| | |
Absolute TSR (50% of
total 2020 LTIP Units) |
| |
Relative TSR (50% of total
2020 LTIP Units) |
| |||||||||||||||
Performance Level
|
| |
Company
Absolute 3-Year TSR |
| |
Payout as %
of Maximum LTIP Units |
| |
CLI 3-Year
TSR Percentile Rank |
| |
Payout as %
of Maximum LTIP Units |
| |||||||||
< Threshold
|
| | | | <18% | | | | | | 0% | | | |
<35th Percentile
|
| | | | 0% | | |
Threshold
|
| | | | 18% | | | | | | 25% | | | |
35th Percentile
|
| | | | 25% | | |
Target
|
| | | | 27% | | | | | | 62.5% | | | |
55th Percentile
|
| | | | 62.5% | | |
Maximum
|
| | | | 36% | | | | | | 100% | | | |
75th Percentile
|
| | | | 100% | | |
Executive Officer
|
| |
2020 Maximum
LTIP Units(1) |
| |||
Marshall B. Tycher
|
| | | | 273,224 | | |
David J. Smetana
|
| | | | 68,306 | | |
Ricardo Cardoso
|
| | | | 68,306 | | |
Gary T. Wagner
|
| | | | 68,306 | | |
Michael J. DeMarco(2)
|
| | | | 546,448 | | |
Nicholas A. Hilton(3)
|
| | | | 68,306 | | |
| | | |
Multiple of Salary/Retainer
|
|
|
CEO
|
| |
5x Salary
|
|
|
EVP-level
|
| |
2x Salary
|
|
|
Non-Employee Directors
|
| |
5x Cash Retainer
|
|
| | | | EXECUTIVE COMPENSATION AND OPTION COMMITTEE OF THE BOARD OF DIRECTORS | |
| | | | | |
| | | |
Frederic Cumenal, Chair
Michael Berman A. Akiva Katz |
|
Name and Principal Position
|
| |
Year
|
| |
Salary ($)(1)
|
| |
Bonus ($)(2)
|
| |
Stock
Awards ($)(3) |
| |
Option
Awards ($)(4) |
| |
Non Equity
Incentive Plan Compensation ($)(5) |
| |
All Other
Compensation ($) |
| |
Total ($)
|
| ||||||||||||||||||||||||
MaryAnne Gilmartin
Former Interim Chief Executive Officer |
| | | | 2020 | | | | | | 764,384 | | | | | | 500,000 | | | | | | — | | | | | | 508,860 | | | | | | — | | | | | | 10,000(6) | | | | | | 1,783,244 | | |
Marshall B. Tycher
Chairman of Roseland |
| | | | 2020 | | | | | | 800,000 | | | | | | — | | | | | | 2,000,000 | | | | | | — | | | | | | 970,000 | | | | | | — | | | | | | 3,770,000 | | |
| | | 2019 | | | | | | 800,000 | | | | | | — | | | | | | 2,000,004 | | | | | | — | | | | | | 1,360,000 | | | | | | 7,615 | | | | | | 4,167,619 | | | ||
| | | 2018 | | | | | | 800,000 | | | | | | — | | | | | | 2,199,995 | | | | | | — | | | | | | 1,312,000 | | | | | | 18,000 | | | | | | 4,329,995 | | | ||
David J. Smetana
Chief Financial Officer |
| | | | 2020 | | | | | | 450,000 | | | | | | — | | | | | | 500,000 | | | | | | — | | | | | | 416,250 | | | | | | 15,600(7) | | | | | | 1,381,850 | | |
| | | 2019 | | | | | | 450,000 | | | | | | — | | | | | | 400,007 | | | | | | — | | | | | | 405,000 | | | | | | 15,600 | | | | | | 1,270,607 | | | ||
| | | 2018 | | | | | | 402,281 | | | | | | — | | | | | | 300,009 | | | | | | — | | | | | | 396,000 | | | | | | 13,800 | | | | | | 1,112,090 | | | ||
Ricardo Cardoso
Chief Investment Officer |
| | | | 2020 | | | | | | 482,693 | | | | | | — | | | | | | 500,000 | | | | | | — | | | | | | 508,750 | | | | | | 15,600(7) | | | | | | 1,507,043 | | |
| | | 2019 | | | | | | 450,000 | | | | | | — | | | | | | 400,007 | | | | | | — | | | | | | 405,000 | | | | | | 15,600 | | | | | | 1,270,607 | | | ||
| | | 2018 | | | | | | 450,000 | | | | | | — | | | | | | 399,995 | | | | | | — | | | | | | 396,000 | | | | | | 15,600 | | | | | | 1,261,595 | | | ||
Gary T. Wagner
General Counsel and Secretary |
| | | | 2020 | | | | | | 450,000 | | | | | | — | | | | | | 500,000 | | | | | | — | | | | | | 416,250 | | | | | | — | | | | | | 1,366,250 | | |
| | | 2019 | | | | | | 450,000 | | | | | | — | | | | | | 400,007 | | | | | | — | | | | | | 405,000 | | | | | | 6,600 | | | | | | 1,261,607 | | | ||
| | | 2018 | | | | | | 450,000 | | | | | | — | | | | | | 399,995 | | | | | | — | | | | | | 396,000 | | | | | | 15,600 | | | | | | 1,261,595 | | | ||
Michael J. DeMarco
Former Chief Executive Officer |
| | | | 2020 | | | | | | 492,308 | | | | | | — | | | | | | 3,999,999 | | | | | | — | | | | | | — | | | | | | 5,287,513(8) | | | | | | 9,779,820 | | |
| | | 2019 | | | | | | 800,000 | | | | | | — | | | | | | 4,000,001 | | | | | | 2,487,500 | | | | | | 1,680,000 | | | | | | — | | | | | | 8,967,501 | | | ||
| | | 2018 | | | | | | 800,000 | | | | | | — | | | | | | 3,999,999 | | | | | | — | | | | | | 1,312,000 | | | | | | — | | | | | | 6,111,999 | | | ||
Nicholas A. Hilton
Former Executive Vice President of Leasing |
| | | | 2020 | | | | | | 360,000 | | | | | | — | | | | | | 500,000 | | | | | | — | | | | | | — | | | | | | 1,791,244(7)(9) | | | | | | 2,651,244 | | |
Name
|
| |
Grant Date
|
| |
Estimated Future Payouts
Under Non Equity Incentive Plan Awards ($)(1) |
| |
Estimated Future Payouts
Under Equity Incentive Plan Awards (#)(2) |
| |
All Other
Option Awards: Number of Securities Underlying Options (#)(3) |
| |
Exercise
or Base Price of Option Awards ($) |
| |
Grant Date
Fair Value of Stock and Option Awards ($) |
| | | | ||||||||||||||||||||||||||||||||||||||||||||||||
|
Threshold
|
| |
Target
|
| |
Maximum
|
| |
Threshold
|
| |
Target
|
| |
Maximum
|
| | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||
MaryAnne Gilmartin
|
| | | | 7/24/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 230,000 | | | | | | 14.39 | | | | | | 508,860(4) | | | | | | ||||||
| | | 7/24/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 100,000 | | | | | | 20.00 | | | | | | —(4) | | | | | | ||||||||
Marshall B. Tycher
|
| | | | 3/24/2020 | | | | | | | | | | | | | | | | | | | | | | | | 68,306 | | | | | | 170,765 | | | | | | 273,224 | | | | | | — | | | | | | — | | | | | | 2,000,000 | | | | | | ||||||
| | | | | | | | | 400,000 | | | | | | 1,000,000 | | | | | | 1,600,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||
David J. Smetana
|
| | | | 3/24/2020 | | | | | | | | | | | | | | | | | | | | | | | | 17,077 | | | | | | 42,691 | | | | | | 68,306 | | | | | | — | | | | | | — | | | | | | 500,000 | | | | | | ||||||
| | | | | | | | | 225,000 | | | | | | 450,000 | | | | | | 562,500 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||
Ricardo Cardoso
|
| | | | 3/24/2020 | | | | | | | | | | | | | | | | | | | | | | | | 17,077 | | | | | | 42,691 | | | | | | 68,306 | | | | | | — | | | | | | — | | | | | | 500,000 | | | | | | ||||||
| | | | | | | | | | | 225,000 | | | | | | 450,000 | | | | | | 562,500 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||
Gary T. Wagner
|
| | | | 3/24/2020 | | | | | | | | | | | | | | | | | | | | | | | | 17,077 | | | | | | 42,691 | | | | | | 68,306 | | | | | | — | | | | | | — | | | | | | 500,000 | | | | | | ||||||
| | | | | | | | | 225,000 | | | | | | 450,000 | | | | | | 562,500 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||
Michael J. DeMarco
|
| | | | 3/24/2020 | | | | | | | | | | | | | | | | | | | | | | | | 136,612 | | | | | | 341,530 | | | | | | 546,448 | | | | | | — | | | | | | — | | | | | | 3,999,999 | | | | | | ||||||
| | | | | | | | | 600,000 | | | | | | 1,400,000 | | | | | | 2,000,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||
Nicholas A. Hilton
|
| | | | 3/24/2020 | | | | | | | | | | | | | | | | | | | | | | | | 17,077 | | | | | | 42,691 | | | | | | 68,306 | | | | | | — | | | | | | — | | | | | | 500,000 | | | | | | ||||||
| | | | | | | | | 225,000 | | | | | | 450,000 | | | | | | 562,500 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | |
Option Awards
|
| |
Stock Awards
|
| ||||||||||||||||||||||||||||||||||||||||||
Name
|
| |
Number of
Securities Underlying Unexercised Options Exercisable (#)(1) |
| |
Number of
Securities Underlying Unexercised Options Unexercisable (#)(2) |
| |
Option
Exercise Price ($) |
| |
Option
Expiration Date |
| |
Number of
Shares or Units of Stock That Have Not Vested (#)(3) |
| |
Market
Value of Shares or Units of Stock That Have Not Vested ($)(4) |
| |
Equity Incentive
Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#)(5) |
| |
Equity Incentive
Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($)(4)(5) |
| ||||||||||||||||||||||||
MaryAnne Gilmartin
|
| | | | 230,000 | | | | | | — | | | | | | 14.39 | | | | | | 07/24/2030 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | 100,000 | | | | | | — | | | | | | 20.00 | | | | | | 07/24/2030 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
Marshall B. Tycher
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 77,131 | | | | | | 961,052 | | | | | | 170,593 | | | | | | 2,125,589 | | |
David J. Smetana
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 17,787 | | | | | | 221,626 | | | | | | 28,606 | | | | | | 356,431 | | |
Ricardo Cardoso
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 20,736 | | | | | | 258,371 | | | | | | 31,086 | | | | | | 387,332 | | |
Gary T. Wagner
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 20,736 | | | | | | 258,371 | | | | | | 31,086 | | | | | | 387,332 | | |
Michael J. DeMarco
|
| | | | 400,000 | | | | | | — | | | | | | 17.31 | | | | | | 06/05/2025 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | — | | | | | | 625,000 | | | | | | 21.46 | | | | | | 03/13/2029 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 155,105 | | | | | | 1,932,608 | | | ||
Nicholas A. Hilton
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 11,140 | | | | | | 138,804 | | |
| | |
Option Awards
|
| |
Stock Awards
|
| ||||||||||||||||||
Name
|
| |
Number of
Shares Acquired on Exercise (#) |
| |
Value
Realized on Exercise ($) |
| |
Number of
Shares Acquired on Vesting (#)(1) |
| |
Value
Realized on Vesting ($)(2) |
| ||||||||||||
MaryAnne Gilmartin
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Marshall B. Tycher
|
| | | | — | | | | | | — | | | | | | 20,393 | | | | | | 301,001 | | |
David J. Smetana
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Ricardo Cardoso
|
| | | | — | | | | | | — | | | | | | 4,449 | | | | | | 65,667 | | |
Gary T. Wagner
|
| | | | — | | | | | | — | | | | | | 4,449 | | | | | | 65,667 | | |
Michael J. DeMarco
|
| | | | — | | | | | | — | | | | | | 112,114 | | | | | | 1,596,112 | | |
Nicholas A. Hilton
|
| | | | — | | | | | | — | | | | | | 11,785 | | | | | | 148,727 | | |
Name
|
| |
Payments upon
termination by Company without cause or by executive for good reason(1) |
| |
Payment upon
termination due to death or disability(1) |
| |
Payments upon
termination by the Company without cause or by the executive for good reason within two years of a change in control(1) |
| |||||||||
MaryAnne Gilmartin(2)
Former Interim Chief Executive Officer |
| | | | — | | | | | | — | | | | | | — | | |
| | | | | | | | | | | | | | | | | | ||
Marshall B. Tycher
Chairman, Roseland Residential Trust |
| | | $ | 4,092,476(3) | | | | | $ | 1,617,034(4) | | | | | $ | 4,431,175(5) | | |
| | | | | | | | | | | | | | | | | | ||
David J. Smetana
Chief Financial Officer |
| | | $ | 1,631,230(6) | | | | | $ | 281,260(7) | | | | | $ | 1,694,003(8) | | |
| | | | | | | | | | | | | | | | | | ||
Ricardo Cardoso
Chief Investment Officer |
| | | $ | 1,947,178(9) | | | | | $ | 337,891(10) | | | | | $ | 2,015,783(11) | | |
| | | | | | | | | | | | | | | | | | ||
Gary T. Wagner
General Counsel and Secretary |
| | | $ | 1,628,058(12) | | | | | $ | 337,891(10) | | | | | $ | 1,696,663(13) | | |
| | | | | | | | | | | | | | | | | | ||
Michael J. DeMarco
Former Chief Executive Officer |
| | | $ | 7,404,109(14) | | | | | | — | | | | | | — | | |
| | | | | | | | | | | | | | | | | | ||
Nicholas A. Hilton
Former Executive Vice President of Leasing |
| | | $ | 1,981,447(15) | | | | | | — | | | | | | — | | |
| | | | | | | | | | | | | | | | | |
Plan Category
|
| |
(a)
Number of Securities to be Issued Upon Exercise of Outstanding Options and Rights |
| |
(b)
Weighted Average Exercise Price of Outstanding Options and Rights |
| |
(c)
Number of Securities Remaining Available for Future Issuance Under Equity Compensation Plans (excluding securities reflected in column(a)) |
| |||||||||
Equity Compensation Plans Approved by Stockholders
|
| | | | 1,650,469(2) | | | | | | 16.79(3) | | | | | | 717,155 | | |
Equity Compensation Plans Not Approved by Stockholders(1)
|
| | | | 17,854 | | | | | | N/A | | | | | | N/A(4) | | |
Total
|
| | | | 1,668,323 | | | | | | N/A | | | | | | 717,155 | | |
Name
|
| |
Fees Earned or
Paid in Cash ($)(1) |
| |
Stock Awards
($)(2) |
| |
Total
($) |
| |||||||||
Tammy K. Jones, Lead Director(3)
|
| | | | 103,035 | | | | | | 89,997 | | | | | | 193,032 | | |
Alan R. Batkin
|
| | | | 101,783 | | | | | | 89,997 | | | | | | 191,780 | | |
Michael Berman(3)
|
| | | | 67,393 | | | | | | 89,997 | | | | | | 157,390 | | |
Alan S. Bernikow(4)
|
| | | | 96,824 | | | | | | — | | | | | | 96,824 | | |
Frederic Cumenal
|
| | | | 144,533 | | | | | | 89,997 | | | | | | 234,530 | | |
MaryAnne Gilmartin(5)
|
| | | | 53,239 | | | | | | 89,997 | | | | | | 143,236 | | |
A. Akiva Katz(3)
|
| | | | 101,143 | | | | | | 89,997 | | | | | | 194,140 | | |
Nori Gerardo Lietz
|
| | | | 104,783 | | | | | | 89,997 | | | | | | 194,780 | | |
William L. Mack(4)
|
| | | | 59,286 | | | | | | — | | | | | | 59,286 | | |
Lisa Myers(4)
|
| | | | 97,944 | | | | | | — | | | | | | 97,944 | | |
Mahbod Nia(3)
|
| | | | 101,143 | | | | | | 89,997 | | | | | | 191,140 | | |
Laura H. Pomerantz(4)
|
| | | | 115,786 | | | | | | — | | | | | | 115,786 | | |
Irvin D. Reid(4)
|
| | | | 137,544 | | | | | | — | | | | | | 137,544 | | |
Rebecca Robertson(4)
|
| | | | 81,286 | | | | | | — | | | | | | 81,286 | | |
Howard Stern(3)
|
| | | | 56,893 | | | | | | 89,997 | | | | | | 146,890 | | |
Award Type
|
| |
2018
|
| |
2019
|
| |
2020
|
| | | | |||||||||
Options Granted
|
| | | | | | | | | | | | | | | | 330,000(1) | | | | | |
Appreciation Only LTIP Awards Granted
|
| | | | | | | | | | 625,000 | | | | | | | | | | | |
Time-Based Full-Value Awards Granted
|
| | | | 252,281 | | | | | | 215,837 | | | | | | 52,974 | | | | | |
Performance-Based Full Value
Awards Earned(2) |
| | | | 0 | | | | | | 0 | | | | | | 0 | | | | ||
Total (A)
|
| | | | 252,281 | | | | | | 840,837 | | | | | | 382,974 | | | | | |
Weighted Average Common Shares and Units Outstanding
(B)(3) |
| | | | 100,592,571 | | | | | | 100,408,304 | | | | | | 100,059,712 | | | |
Three-Year
Average
|
|
Burn Rate (A/B)
|
| | | | 0.25% | | | | | | 0.84% | | | | | | 0.38% | | | |
0.49%
|
|
|
Stock Options/Appreciation Awards Outstanding(1)
|
| |
1,755,000
|
|
|
Weighted Average Exercise Price
|
| |
$18.56
|
|
|
Weighted Average Remaining Term
|
| |
6.74
|
|
|
Full-Value Awards Outstanding(2)
|
| |
2,036,130
|
|
|
Shares Remaining for Future Grant
|
| |
717,155
|
|
|
Additional Share Request
|
| |
1,965,000
|
|
|
Total Overhang
|
| |
6.2%
|
|
Name and Position
|
| |
Dollar Value
($)(1) |
| |
Number of Units
(#) |
| ||||||
MaryAnne Gilmartin
|
| | | | — | | | | | | 157,505 | | |
Former Interim Chief Executive Officer
|
| | | ||||||||||
Mahbod Nia
|
| | | | 2,000,000 | | | | | | 122,926 | | |
Chief Executive Officer
|
| | | ||||||||||
Marshall B. Tycher
|
| | | | 900,000 | | | | | | 55,317 | | |
Chairman of Roseland
|
| | | ||||||||||
David J. Smetana
|
| | | | 350,000 | | | | | | 21,512 | | |
Chief Financial Officer
|
| | | ||||||||||
Gary T. Wagner
|
| | | | 250,00i0 | | | | | | 15,366 | | |
General Counsel and Secretary
|
| | | ||||||||||
Current executive officers as a group
|
| | | | 3,587,500 | | | | | | 220,498 | | |
Employees (other than executive officers) as a group
|
| | | | 1,162,501 | | | | | | 71,451 | | |
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