ALEXANDRIA REAL ESTATE EQUITIES, INC.
For the period ended Dec 31, 2025. Filed Apr 1, 2026.
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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, 2025 · Filed Apr 1, 2026
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14A
Proxy Statement Pursuant to Section 14(a) of
the Securities Exchange Act of 1934
| Filed by the Registrant ☒ | |
|---|---|
| Filed by a Party other than the Registrant ☐ | |
| Check the appropriate box: | |
| ☐ | Preliminary Proxy Statement |
| ☐ | Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) |
| ☒ | Definitive Proxy Statement |
| ☐ | Definitive Additional Materials |
| ☐ | Soliciting Material under §240.14a-12 |
| Alexandria Real Estate Equities, Inc. | |
|---|---|
| (Name of Registrant as Specified In Its Charter) | |
| (Name of Person(s) Filing Proxy Statement, if other than the Registrant) | |
| Payment of Filing Fee (Check all boxes that apply): | |
| ☒ | No fee required. |
| ☐ | Fee paid previously with preliminary materials. |
| ☐ | Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)1 and 0-11 |
| 2026 Proxy Statement | i |
|---|
Dear Stockholder:
You are cordially invited to attend the 2026 Annual Meeting of Stockholders of Alexandria Real Estate Equities, Inc., a
Maryland corporation (the “Company,” “Alexandria,” “our,” “we,” and “us”), to be held on Wednesday, May 13, 2026, at
11:00 a.m. Pacific Time, at 26 North Euclid Avenue, Pasadena, CA 91101 (the “2026 Annual Meeting”).
At the 2026 Annual Meeting, you will be asked to consider and vote upon: the election of eight directors; a resolution
to approve, on a non-binding, advisory basis, the compensation of the Company’s named executive officers; and the
ratification of the appointment by the Audit Committee of the Board of Directors of the Company (the “Board”) of Ernst &
Young LLP as our independent registered public accountants for the fiscal year ending December 31, 2026. The
accompanying Proxy Statement and Notice of Annual Meeting of Stockholders (the “Proxy Statement”) describe these matters.
We urge you to read this information carefully.
The Board unanimously believes that the election of its nominees as directors; approval, on a non-binding, advisory
basis, of the compensation of the Company’s named executive officers; and ratification of the appointment of our independent
registered public accountants are in the best interests of the Company and accordingly recommends a vote FOR the election
of all the nominees as directors; FOR the approval, on a non-binding, advisory basis, of the compensation of the Company’s
named executive officers; and FOR the ratification of the appointment of Ernst & Young LLP as our independent registered
public accountants.
In addition to the business to be transacted at the meeting, management will report on the progress of our business
and respond to comments and questions of general interest to stockholders. You will find a summary of some of the key
performance indicators and more detailed information in the Proxy Statement.
We sincerely hope that you will be able to attend and participate in the meeting. Whether or not you plan to attend the
meeting, it is important that your shares be represented and voted. You may authorize a proxy to vote your shares by
completing the accompanying proxy card or voting instruction form or by giving your proxy authorization via telephone or the
Internet in accordance with the instructions on the accompanying proxy card or voting instruction form that you should receive
from the bank, broker or other nominee that is the record holder for your shares.
BY COMPLETING AND RETURNING THE ACCOMPANYING PROXY CARD OR VOTING INSTRUCTION FORM
OR BY AUTHORIZING A PROXY VIA TELEPHONE OR THE INTERNET, YOU AUTHORIZE THE PROXY HOLDERS TO
REPRESENT YOU AT THE 2026 ANNUAL MEETING OF STOCKHOLDERS AND VOTE YOUR SHARES ACCORDING TO
YOUR INSTRUCTIONS. SUBMITTING YOUR PROXY NOW WILL NOT PREVENT YOU FROM VOTING IN PERSON AT
THE 2026 ANNUAL MEETING BUT WILL ENSURE THAT YOUR VOTE IS COUNTED IF YOU ARE UNABLE TO ATTEND.
Sincerely,
Joel S. Marcus
Executive Chairman and Founder
| 2026 Proxy Statement | ii |
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| 2026 Proxy Statement | iii |
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NOTICE OF ANNUAL MEETING OF STOCKHOLDERS OF ALEXANDRIA REAL ESTATE EQUITIES, INC.
| Date and Time: | Wednesday, May 13, 2026, at 11:00 a.m. Pacific Time |
|---|---|
| Place: | 26 North Euclid Avenue, Pasadena, CA 91101 |
| Items of Business: | 1.To consider and vote upon the election of eight directors to serve until the next annual meeting of stockholders of Alexandria Real Estate Equities, Inc., a Maryland corporation (the “Company”), and until their successors are duly elected and qualify. |
| 2.To consider and vote upon, on a non-binding, advisory basis, a resolution to approve the compensation of the Company’s named executive officers, as described in the Proxy Statement for the 2026 Annual Meeting of Stockholders of the Company (the “2026 Annual Meeting”). | |
| 3.To consider and vote upon the ratification of the appointment of Ernst & Young LLP as the Company’s independent registered public accountants for the fiscal year ending December 31, 2026. | |
| 4.To transact such other business as may properly come before the 2026 Annual Meeting or any postponement or adjournment thereof. | |
| Record Date: | The Board of Directors of the Company has set the close of business on March 16, 2026, as the record date for the determination of stockholders entitled to notice of and to vote at the 2026 Annual Meeting or any postponement or adjournment thereof. |
By Order of the Board
Jackie B. ClemGeneral Counsel and Secretary
Pasadena, California
| 2026 Proxy Statement | iv |
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TABLE OF CONTENTS
| GENERAL INFORMATION | 1 |
|---|---|
| PROXY STATEMENT SUMMARY | 3 |
| 2026 Annual Meeting of Stockholders ...................................................................................................................................................... | 3 |
| Proposals and Board Recommendations ................................................................................................................................................ | 3 |
| How to Cast Your Vote ................................................................................................................................................................................ | 3 |
| Business Overview ...................................................................................................................................................................................... | 4 |
| Our People: Dedication to Our Best-in-Class Team ............................................................................................................................... | 5 |
| Corporate Governance Highlights ............................................................................................................................................................. | 6 |
| Board Nominees .......................................................................................................................................................................................... | 8 |
| Say-on-Pay Advisory Vote .......................................................................................................................................................................... | 9 |
| Executive Compensation Program Highlights ......................................................................................................................................... | 10 |
| CORPORATE GOVERNANCE MATTERS | 11 |
| Corporate Governance ................................................................................................................................................................................ | 11 |
| Policies and Procedures With Respect to Related-Person Transactions ........................................................................................... | 12 |
| Certain Relationships and Related Transactions .................................................................................................................................... | 12 |
| Stockholder Outreach and Engagement .................................................................................................................................................. | 13 |
| Business Integrity Policy ............................................................................................................................................................................. | 13 |
| Insider Trading Policies and Procedures .................................................................................................................................................. | 13 |
| Board Composition and Nomination Process .......................................................................................................................................... | 14 |
| Director Independence ................................................................................................................................................................................ | 16 |
| Information on the Board and Its Committees ......................................................................................................................................... | 16 |
| PROPOSAL 1 — ELECTION OF DIRECTORS | 20 |
| DIRECTORS AND EXECUTIVE OFFICERS | 21 |
| Background of Directors ............................................................................................................................................................................. | 21 |
| Background of Executive Officers ............................................................................................................................................................. | 28 |
| 2025 Director Compensation Table ........................................................................................................................................................... | 35 |
| PROPOSAL 2 — NON-BINDING, ADVISORY VOTE ON EXECUTIVE COMPENSATION | 37 |
| Compensation Committee Report on Executive Compensation .......................................................................................................... | 38 |
| COMPENSATION DISCUSSION AND ANALYSIS | 39 |
| Executive Summary ..................................................................................................................................................................................... | 61 |
| Compensation Governance ........................................................................................................................................................................ | 63 |
| Key Elements of the Executive Compensation Program ....................................................................................................................... | 66 |
| 2025 Compensation Decisions .................................................................................................................................................................. | 67 |
| Retirement and Benefit Programs ............................................................................................................................................................. | 98 |
| Other Compensation Policies .................................................................................................................................................................... | 99 |
| COMPENSATION TABLES AND RELATED NARRATIVE | 100 |
| Summary Compensation Table .................................................................................................................................................................. | 100 |
| 2025 Grants of Plan-Based Awards Table ............................................................................................................................................... | 101 |
| Outstanding Equity Awards at Fiscal Year End Table ............................................................................................................................ | 103 |
| 2025 Option Exercises and Stock Vested Table ..................................................................................................................................... | 103 |
| Pension Benefits Table ................................................................................................................................................................................ | 104 |
| 2025 Nonqualified Deferred Compensation Table .................................................................................................................................. | 105 |
| Potential Payments Upon Termination or Change in Control ............................................................................................................... | 107 |
| Chief Executive Officer Pay Ratio ............................................................................................................................................................. | 111 |
| 2026 Proxy Statement | v |
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TABLE OF CONTENTS (continued)
| Pay Versus Performance ............................................................................................................................................................................ | 112 |
|---|---|
| Policies and Practices Related to the Grant of Certain Equity Awards Close in Time to the Release of Material Nonpublic Information ................................................................................................................................................................................................ | 114 |
| SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT | 115 |
| AUDIT COMMITTEE REPORT | 117 |
| PROPOSAL 3 — RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTANTS | 118 |
| Fees Billed by Independent Registered Public Accountants ................................................................................................................ | 118 |
| OTHER INFORMATION | 119 |
| Annual Report on Form 10-K and Financial Statements and Committee and Corporate Governance Materials of the Company ................................................................................................................................................................................................... | 119 |
| Important Notice Regarding the Availability of Proxy Materials for the Stockholders Meeting to Be Held on Wednesday, May 13, 2026 ............................................................................................................................................................................................ | 119 |
| Stockholder Proposals and Director Nominations for the Company’s 2027 Annual Meeting .......................................................... | 119 |
| Communicating With the Board ................................................................................................................................................................. | 120 |
| Other Information ......................................................................................................................................................................................... | 120 |
| Other Matters ................................................................................................................................................................................................ | 120 |
| Definitions and Reconciliations .................................................................................................................................................................. | 121 |
| 2026 Proxy Statement | 1 |
|---|
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