ALEXANDRIA REAL ESTATE EQUITIES INC
For the period ended Dec 31, 2023. Filed Apr 3, 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.
Dec 31, 2023 · Filed Apr 3, 2024
Contents
Key Elements of the Executive Compensation Program
Our executive compensation program consists of three principal components, summarized in the table below, that we believe together emphasize long-term performance and creation of long-term stockholder value. The percentages in the table below reflect the actual base salary earned, the actual cash incentives paid, and the grant date fair value of equity awards, in each case as reported in our “Summary Compensation Table” for 2023 on page 98.
| Compensation | What We Pay | Why We Pay It | |||
|---|---|---|---|---|---|
| FIXED | Short-Term | Base Salary | ● | The Compensation Committee views base salary as the fixed compensation paid for ongoing performance throughout the year and required to attract, retain, and motivate Company executives. | |
| ● | The base salaries of our NEOs are determined in consideration of their position, responsibilities, personal expertise, and experience, as well as the prevailing base salaries at the Company and elsewhere for similar positions. | ||||
| ● | NEOs are eligible for periodic increases in their base salary as a result of Company performance and NEO performance, including leadership, contribution to Company goals, and stability of operations. | ||||
| AT-RISK | Mid-Term | Annual Cash Incentive Awards1 | ● | Annual cash incentives for our NEOs reflect the Compensation Committee’s belief that a significant portion of the annual compensation of each NEO should be “at risk” and therefore contingent upon the performance of the Company, as well as the individual contribution of each NEO. | |
| ● | Annual cash incentives further align our NEOs’ interests with those of stockholders and help the Company attract, retain, and motivate executive talent. | ||||
| Long-Term | Restricted Stock Awards | ● | Equity compensation is designed to align the interests of NEOs and other employees with the interests of stockholders through growth in the value of the Company’s Common Stock. | ||
| ● | As determined by the Compensation Committee, the Company awards restricted stock as long-term incentives to motivate, reward, and retain NEOs and other employees. | ||||
| ● | Restricted stock awards are utilized because their ultimate value depends on the performance of the Company’s future stock price, which provides motivation through variable “at risk” compensation and direct alignment with stockholders. | ||||
| ● | A portion of each NEO’s compensation includes long-term incentive awards that vest solely upon the achievement of performance conditions that drive our key business objectives. | ||||
| ● | Regular long-term equity grants ensure competitive compensation opportunities. | ||||
(1)Refer to “Summary Compensation Table” on page 98 for the detail of each NEO’s annual cash incentive award.
| = Executive Chairman and Chief Executive Officer | |
| = Other NEOs |
| 2024 Proxy Statement | 63 |
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