REGENCY CENTERS CORP
For the period ended May 7, 2025. Filed Mar 26, 2025.
View on SEC.govAbout this filing
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.
May 7, 2025 · Filed Mar 26, 2025
Contents
Summary Compensation Table
The following table summarizes the compensation of each named executive officer (“NEO”) for 2024, 2023 and 2022. The amounts reported for stock awards may not represent the amounts that the NEOs will actually realize from the awards. Whether, and to what extent, a named executive officer realizes value will depend on Regency’s performance, stock price and continued employment.
SUMMARY COMPENSATION TABLE FOR 2024
| Name and Principal Position(1) | Year | Salary | StockAwards(2) | Non-EquityIncentive PlanCompensation(3) | All OtherCompensation(4) | Total |
|---|---|---|---|---|---|---|
| Martin E. Stein, Jr. Executive Chairman of the Board | 2024 | $500,000 | $712,882 | $0 | $40,628 | $1,253,510 |
| 2023 | $500,000 | $1,034,858 | $0 | $40,728 | $1,575,586 | |
| 2022 | $500,000 | $1,451,563 | $0 | $40,554 | $1,992,117 | |
| Lisa Palmer President and Chief Executive Officer | 2024 | $1,030,000 | $5,702,941 | $2,805,000 | $21,322 | $9,559,263 |
| 2023 | $1,000,000 | $5,536,318 | $2,712,500 | $20,217 | $9,269,035 | |
| 2022 | $1,000,000 | $5,184,152 | $2,450,000 | $15,636 | $8,649,788 | |
| Michael J. Mas Executive Vice President,Chief Financial Officer | 2024 | $620,000 | $1,805,910 | $1,470,000 | $15,630 | $3,911,540 |
| 2023 | $600,000 | $1,759,195 | $1,116,000 | $17,078 | $3,492,273 | |
| 2022 | $570,000 | $1,503,404 | $798,000 | $14,970 | $2,886,374 | |
| Alan T. Roth East Region President andChief Operating Officer | 2024 | $600,000 | $1,330,713 | $900,000 | $14,270 | $2,844,983 |
| 2023 | $500,000 | $1,134,858 | $775,000 | $17,126 | $2,426,984 | |
| 2022 | $465,000 | $598,954 | $506,700 | $13,510 | $1,584,164 | |
| Nicholas A. Wibbenmeyer West Region President andChief Investment Officer | 2024 | $600,000 | $1,330,713 | $900,000 | $13,580 | $2,844,293 |
| 2023 | $500,000 | $1,134,858 | $775,000 | $13,680 | $2,423,538 |
(1) Alan T. Roth was promoted to Senior Managing Director, East Region effective January 1, 2022 and was again promoted to Executive Vice President, National Property Operations and East Region President, effective January 1, 2023. He was then appointed on January 1, 2024 to East Region President and Chief Operating Officer. Nicholas A. Wibbenmeyer was promoted to Executive Vice President, West Region President, effective January 1, 2023 and was then appointed on January 1, 2024 to West Region President and Chief Investment Officer.
(2) The amounts in this column represent the aggregate grant date fair value computed in accordance with FASB ASC Topic 718 for restricted share awards and performance-based and market-based performance share awards. We use a Monte Carlo simulation model to value market-based awards, i.e., for performance awards tied to relative total shareholder return. Our model estimates the fair value of the award based on our data and that of the FTSE Nareit Equity Shopping Centers Index.
2024 Stock Awards. The goals for performance share awards granted in 2024 based upon total shareholder return are entirely market-based as compared to other publicly traded companies in our sector, as represented by the FTSE Nareit Equity Shopping Centers Index.
The awards granted on February 6, 2024, assumed (a) stock price volatility of 25.5% for Regency and 25.7% for the index, (b) risk-free interest rates of 4.14%, (c) Regency’s beta versus the index of 0.946, and (d) no dividend yield assumption given that the award includes dividend equivalents that are earned only to the extent that the underlying shares are earned. Based on the performance goals and these capital market assumptions, the market-based awards issued on February 6, 2024, were valued at $58.36 per share using the Monte Carlo model.
The 2024 stock awards also include the grant date fair value of restricted share awards to Ms. Palmer and Messrs. Stein, Mas, Roth and Wibbenmeyer.
(3) The amounts in this column represent the annual cash bonus payable for 2024 performance as discussed in the CD&A on page 34.
(4) The amounts in this column for 2024 consist of the following: (a) a $12,200 contribution to our 401(k) and profit-sharing plan for each NEO; (b) life insurance premiums of $28,428 for Mr. Stein, $5,934 for Ms. Palmer, $2,070 for Mr. Mas, $2,070 for Mr. Roth and $1,380 for Mr. Wibbenmeyer; and (c) executive physical reimbursements of $3,188 for Ms. Palmer and $1,360 for Mr. Mas.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.