Terreno Realty Corp
For the period ended May 6, 2025. Filed Mar 21, 2025.
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May 6, 2025 · Filed Mar 21, 2025
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PAY RATIO DISCLOSURE
The information presented below is the ratio of the annual total compensation of our principal executive officer, or PEO to the annual compensation of our median employee (excluding our PEO). In light of the fact that Messrs. Baird and Coke are both Co-Founders of the Company, run the Company jointly, and are compensated the same, it is important to us to treat them both as the PEO for purposes of this disclosure. We believe that including one of them in the employee group would artificially skew the pay ratio downwards and not accurately depict what we believe to be a fair representation of the equitability of pay within our company. As set forth in the table below, our 2024 PEO to median employee pay ratio was 19.0 to 1.
| Compensationof Each ofChairmanand ChiefExecutiveOfficer andthe President | Compensationof MedianEmployee | |
|---|---|---|
| Base Salary | $800,000 | $156,000 |
| Bonus | — | 72,000 |
| Stock Awards | 4,497,975 | 45,000 |
| All other compensation | 10,350 | 6,120 |
| Total | $5,308,325 | $279,120 |
We completed the following steps to identify the median of the annual total compensation of all of our employees and to determine the annual total compensation of our median employee and PEOs:
| • | We determined our employee population as of December 31, 2024, which was 47 full-time, part-time, temporary or seasonal employees employed on that date. |
| • | To find the median of the annual total compensation of our employees (other than our PEOs), we used wages from our payroll records for fiscal year 2024. In making this determination, we annualized compensation for full-time and part-time permanent employees who were employed on December 31, 2024, but did not work for us the entire yet. No full-time equivalent adjustments were made for part-time employees. |
| • | We identified our median employee using this compensation measure and methodology, which was consistently applied to all of our employees included in the calculation. |
After identifying the median employee, we added together all of the elements of such employee’s compensation for fiscal year 2024, resulting in annual total compensation of $279,120. With respect to our PEOs, we used the amount reported in the “Total” column of the “Summary Compensation Table” of this proxy statement.
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