RLJ Lodging Trust
For the period ended Apr 24, 2026. Filed Mar 23, 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.
Apr 24, 2026 · Filed Mar 23, 2026
Contents
Summary Compensation Table
Summary Compensation Table
The following table sets forth a summary of all compensation earned, awarded or paid to our 2025 NEOs in the fiscal years ended December 31, 2025, 2024 and 2023.
| · Name and Principal Position · · · Year · · · Salary(1) · · · Share Awards(2) · · · Non-Share Incentive Plan Compensation(3) · · · All Other Compensation(4) · · · Total · | |||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | Robert L. Johnson Executive Chairman | | | | | 2025 | | | | | $515,000 | | | | | $1,642,133 | | | | | $636,883 | | | | | $— | | | | | $2,794,016 | | |
| | | | 2024 | | | | | $515,000 | | | | | $1,639,608 | | | | | $645,800 | | | | | $— | | | | | $2,800,408 | | | |||
| | | | 2023 | | | | | $500,000 | | | | | $1,619,527 | | | | | $760,800 | | | | | $— | | | | | $2,880,327 | | | |||
| | Leslie D. Hale President and Chief Executive Officer | | | | | 2025 | | | | | $882,000 | | | | | $6,900,250 | | | | | $1,622,116 | | | | | $55,648 | | | | | $9,460,014 | | |
| | | | 2024 | | | | | $882,000 | | | | | $6,889,568 | | | | | $1,536,100 | | | | | $51,179 | | | | | $9,358,847 | | | |||
| | | | 2023 | | | | | $840,000 | | | | | $6,510,572 | | | | | $1,727,000 | | | | | $51,329 | | | | | $9,128,901 | | | |||
| | Thomas Bardenett Executive Vice President and Chief Operating Officer | | | | | 2025 | | | | | $565,000 | | | | | $1,768,457 | | | | | $600,000 | | | | | $48,552 | | | | | $2,982,009 | | |
| | | | 2024 | | | | | $565,000 | | | | | $1,765,709 | | | | | $535,000 | | | | | $45,197 | | | | | $2,910,906 | | | |||
| | | | 2023 | | | | | $550,000 | | | | | $1,420,368 | | | | | $640,000 | | | | | $45,485 | | | | | $2,655,853 | | | |||
| | Frederick D. McKalip Executive Vice President, General Counsel and Corporate Secretary | | | | | 2025 | | | | | $357,706 | | | | | $45,061 | | | | | $465,000 | | | | | $53,023 | | | | | $920,790 | | |
| | Nikhil Bhalla Senior Vice President, Chief Financial Officer and Treasurer | | | | | 2025 | | | | | $343,535 | | | | | $631,580 | | | | | $260,000 | | | | | $55,648 | | | | | $1,290,763 | | |
| | Sean M. Mahoney Former Executive Vice President and Chief Financial Officer | | | | | 2025 | | | | | $206,250 | | | | | $— | | | | | $249,000 | | | | | $30,424 | | | | | $485,674 | | |
| | | | 2024 | | | | | $550,000 | | | | | $1,765,709 | | | | | $551,400 | | | | | $51,179 | | | | | $2,918,288 | | | |||
| | | | 2023 | | | | | $550,000 | | | | | $1,744,106 | | | | | $640,000 | | | | | $51,329 | | | | | $2,985,435 | | | |||
| | Chad D. Perry Former Executive Vice President, General Counsel and Corporate Secretary | | | | | 2025 | | | | | $167,519 | | | | | $1,033,509 | | | | | $— | | | | | $30,424 | | | | | $1,231,452 | | |
| | | | 2024 | | | | | $465,000 | | | | | $1,031,909 | | | | | $445,000 | | | | | $51,179 | | | | | $1,993,088 | | | |||
| | | | 2023 | | | | | $320,730 | | | | | $1,284,400 | | | | | $362,000 | | | | | $29,426 | | | | | $1,996,556 | | | |||
(1)
For 2025: Increases in annual base salary for each NEO are effective on March 1 of each year, provided such increases are approved by the Compensation Committee. As of March 1, 2025, Mr. Johnson, Ms. Hale and Mr. Bardenett did not receive a base salary increase. Mr. McKalip’s and Mr. Bhalla’s salaries are prorated to reflect their new positions in 2025. Mr. McKalip’s salary prior to being appointed to his new role in 2025 was $180,250. Mr. Bhalla’s salary prior to being appointed to his new role in 2025 was $310,000. Mr. Mahoney and Mr. Perry left the Company in 2025 and their salaries reflect what they were paid in 2025. As of March 1, 2025 (or, for each of Mr. McKalip and Mr. Bhalla, the later date of their appointment in 2025) the base salaries for each of our NEOs were as follows:
| | | | | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mr. Johnson:$515,000 | | | Ms. Hale:$882,000 | | | Mr. Bardenett:$565,000 | | | Mr. McKalip:$465,000 | | | ||
| Mr. Bhalla:$425,000 | | | Mr. Mahoney:$550,000 | | | Mr. Perry:$465,000 | | | | ||||
(2)
For 2025: Represents the aggregate grant date fair value of the (i) annual grant of restricted shares approved by the Compensation Committee on March 18, 2025, (ii) Mr. McKalip’s annual grant of restricted shares on April 25,2025, and (iii) performance units granted on March 18, 2025, calculated in accordance with FASB ASC Topic 718. The restricted shares granted as annual equity awards vest ratably on each of the first three annual anniversaries of the date of grant. The performance units may be settled in common shares if the Company achieves certain performance over a three-year period. See “Compensation Discussion and Analysis—Components of Executive Officer Compensation—Equity Awards—Multi-Year Performance Equity Awards—2025 Multi-Year Equity Awards”.
The grant date fair values of the performance units, based upon the probable outcome of the performance units as of the grant date, are as follows:
| | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|
| Mr. Johnson:$927,141 | | | Ms. Hale:$3,895,851 | | | Mr. Bardenett:$998,463 | | | Mr. McKalip:$ — | |
| Mr. Bhalla:$356,587 | | | Mr. Mahoney: $ — | | | Mr. Perry:$583,515 | | | ||
Mr. Mahoney retired from the Company in 2025 and did not receive a 2025 restricted share or performance unit grant. Mr. Perry resigned from his position in 2025 and forfeited his 2025 restricted shares and performance units. Mr. McKalip did not receive a 2025 performance unit grant.
66 |investor.rljlodgingtrust.com
Assuming the highest performance conditions are met with respect to the performance units, the value of the performance units, based on a closing price of $8.83 per common share on March 18, 2025 would be as follows:
| | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|
| Mr. Johnson: $1,430,000 | | | Ms. Hale: $6,008,800 | | | Mr. Bardenett: $1,540,000 | | | Mr. McKalip: $ — | |
| Mr. Bhalla: $ 550,000 | | | Mr. Mahoney: $ — | | | Mr. Perry: $ 900,000 | | | ||
(3)
Represents the annual cash performance bonus for each NEO for the relevant year.
(4)
The amounts shown in the “All Other Compensation” column reflect the following:
| · Name · · · Fiscal Year Ended December 31 · · · Health and Dental Care Premiums · · · Long-Term, Short-Term Disability and Life Insurance Benefits · · · Parking Benefits · · · Health Club Premiums · · · 401(k) Plan Match · | |||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | Robert L. Johnson | | | | | 2025 | | | | | $— | | | | | $— | | | | | $— | | | | | $— | | | | | $— | | |
| | | | 2024 | | | | | $— | | | | | $— | | | | | $— | | | | | $— | | | | | $— | | | |||
| | | | 2023 | | | | | $— | | | | | $— | | | | | $— | | | | | $— | | | | | $— | | | |||
| | Leslie D. Hale | | | | | 2025 | | | | | $36,013 | | | | | $1,635 | | | | | $4,200 | | | | | $— | | | | | $13,800 | | |
| | | | 2024 | | | | | $31,544 | | | | | $1,635 | | | | | $4,200 | | | | | $— | | | | | $13,800 | | | |||
| | | | 2023 | | | | | $32,555 | | | | | $1,614 | | | | | $3,960 | | | | | $— | | | | | $13,200 | | | |||
| | Thomas Bardenett | | | | | 2025 | | | | | $28,917 | | | | | $1,635 | | | | | $4,200 | | | | | $— | | | | | $13,800 | | |
| | | | 2024 | | | | | $25,561 | | | | | $1,635 | | | | | $4,200 | | | | | $— | | | | | $13,800 | | | |||
| | | | 2023 | | | | | $26,711 | | | | | $1,614 | | | | | $3,960 | | | | | $— | | | | | $13,200 | | | |||
| | Frederick D. McKalip | | | | | 2025 | | | | | $36,013 | | | | | $1,635 | | | | | $4,200 | | | | | $— | | | | | $11,175 | | |
| | Nikhil Bhalla | | | | | 2025 | | | | | $36,013 | | | | | $1,635 | | | | | $4,200 | | | | | $— | | | | | $13,800 | | |
| | Sean M. Mahoney | | | | | 2025 | | | | | $14,192 | | | | | $681 | | | | | $1,750 | | | | | $— | | | | | $13,800 | | |
| | | | 2024 | | | | | $31,544 | | | | | $1,635 | | | | | $4,200 | | | | | $— | | | | | $13,800 | | | |||
| | | | 2023 | | | | | $32,555 | | | | | $1,614 | | | | | $3,960 | | | | | $— | | | | | $13,200 | | | |||
| | Chad D. Perry | | | | | 2025 | | | | | $14,192 | | | | | $681 | | | | | $1,750 | | | | | $— | | | | | $13,800 | | |
| | | | 2024 | | | | | $31,544 | | | | | $1,635 | | | | | $4,200 | | | | | $— | | | | | $13,800 | | | |||
| | | | 2023 | | | | | $21,835 | | | | | $1,076 | | | | | $2,640 | | | | | $— | | | | | $3,875 | | | |||
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