The Evolution of Discretion Among REITs Annual Incentive Program Design – a 10-Year StudyZoom inDownload PDF
Semler Brossy Consulting Group has conducted a comprehensive ten-year study on publicly traded real estate investment trust (REIT) pay programs to understand the evolution of pay trends, emerging practices, and the driving forces underpinning the changes. Specifically, we have analyzed proxy statement disclosures of 70 of the largest REITs by total assets (ranging from $4B to >$40B), focusing on pay design for the CEO and CFO roles. Our sample is intentionally dispersed across various sub-industries (healthcare, industrial, hotel and resorts, office, residential, retail, diversified, and specialized) to ensure a holistic and collective perspective of the REIT industry.
This article, covering annual incentive design, is the first of a series analyzing trends in REIT compensation design.