EQUITY RESIDENTIAL
For the period ended Apr 16, 2024. Filed Apr 16, 2024.
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What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.
Apr 16, 2024 · Filed Apr 16, 2024
Contents
Benchmarking
To measure the Company’s executive compensation for competitiveness in the industry, the Compensation Committee engaged Ferguson Partners Consulting (“Ferguson Partners”), a nationally recognized independent compensation consultant, to conduct an analysis that benchmarked the Company’s executive compensation against a peer group of other large REITs (by capitalization).
The Compensation Committee believes that the use of peer market data is important in developing a competitive compensation program. The Compensation Committee and Ferguson Partners consider qualitative factors (such as tenure and experience in the role), internal equity and external market data in making both individual and plan-level compensation decisions. While the Compensation Committee does not target a specific percentile range within the peer group, this benchmarking data provides a reference point in determining if pay components and program designs are reasonable when ultimately making compensation decisions.
The Compensation Committee reviews the peer group annually to ensure the included companies still serve as appropriate comparisons to the Company. Target compensation and incentive opportunity levels are continuously evaluated and are adjusted when appropriate, to ensure market comparability.
Ferguson Partners performed its annual executive compensation study in 2023, which showed that the total target compensation of our Chief Executive Officer and the remaining executive team generally aligns with the market median of the peer group data.
| Equity Residential | 66 | 2024 Proxy Statement |
|---|
| Peer | Industry | UPREIT MarketCapitalization | TotalCapitalization |
|---|---|---|---|
| Prologis, Inc. | Industrial | $126.4 billion | $159.4 billion |
| American Tower Corporation | Communications | $100.7 billion | $154.5 billion |
| Equinix, Inc. | Data Center | $76.1 billion | $93.6 billion |
| Simon Property Group, Inc. | Regional Mall | $53.5 billion | $80.2 billion |
| Welltower Inc. | Health Care | $51.1 billion | $67.9 billion |
| Public Storage | Self-Storage | $53.7 billion | $67.3 billion |
| Digital Realty Trust, Inc. | Data Center | $42.8 billion | $62.6 billion |
| Extra Space Storage Inc. | Self-Storage | $35.3 billion | $46.9 billion |
| AvalonBay Communities, Inc. | Multifamily | $26.6 billion | $34.7 billion |
| Ventas, Inc. | Health Care | $20.2 billion | $34.1 billion |
| Equity Residential | Multifamily | $23.9 billion | $31.6 billion |
| Boston Properties, Inc. | Office | $12.3 billion | $30.6 billion |
| Invitation Homes Inc. | Single Family | $20.9 billion | $29.5 billion |
| Essex Property Trust, Inc. | Multifamily | $16.5 billion | $22.9 billion |
| Mid-America Apartment Communities, Inc. | Multifamily | $16.1 billion | $20.8 billion |
| UDR, Inc. | Multifamily | $13.5 billion | $19.6 billion |
| Vornado Realty Trust | Office | $5.8 billion | $16.4 billion |
| Camden Property Trust | Multifamily | $10.8 billion | $14.5 billion |
Source: S&P Global, data as of December 31, 2023.
The Compensation Committee conducted a conflict of interest assessment for 2023 services and concluded that no conflict of interest existed with respect to the work of Ferguson Partners.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.