ALEXANDERS REIT INC (ALX)
Sector: Real Estate
2026 Annual Meeting Analysis
ALEXANDERS REIT INC · Meeting: May 21, 2026
Directors FOR
3
Directors AGAINST
0
Say on Pay
FOR
Auditor
FOR
Director Elections
Election of Directors
Long-tenured director with extensive real estate and capital markets experience; ALX's 3-year price return of 55.9% outperforms the ^FNER (FTSE NAREIT All Equity REITs Index) by +44.0 percentage points, well below the 65-point threshold required to trigger an against vote for strong positive absolute TSR; no overboarding, attendance, or independence issues identified.
Director since 2020 with strong financial and accounting credentials, serving as Audit Committee Chair; TSR outperformance vs. ^FNER (FTSE NAREIT All Equity REITs Index) at +44.0 percentage points does not meet the 65-point trigger threshold; no overboarding, attendance, or independence concerns.
Long-tenured director and general partner of Interstate with deep real estate background; ALX's strong 3-year outperformance vs. ^FNER (FTSE NAREIT All Equity REITs Index) at +44.0 percentage points falls short of the 65-point threshold needed to trigger an against vote; no attendance, overboarding, or independence issues identified.
All three Class II nominees pass the TSR screen — ALX's 3-year price return of 55.9% beats the ^FNER (FTSE NAREIT All Equity REITs Index) by +44.0 percentage points, which does not reach the 65-point threshold required to trigger an against vote when absolute 3-year returns are strongly positive. No overboarding, attendance below 75%, or independence concerns were identified for any nominee. All three directors are voted FOR.
Say on Pay
✓ FORCEO
Steven Roth
Total Comp
$195,744
Prior Support
87%%
Alexander's is an externally managed REIT and pays its executives nothing for their executive roles — CEO Steven Roth's entire reported compensation of $195,744 consists solely of director fees and dividend income on deferred stock units received in his capacity as a board member, not as CEO. The CFO Gary Hansen received zero compensation from the company in 2025. Because there is effectively no executive pay program to evaluate, none of the standard pay-level, pay-mix, or pay-for-performance concerns apply. The prior advisory vote received 87% support in 2023, affirming shareholder satisfaction with this approach.
Auditor Ratification
✓ FORAuditor
Deloitte & Touche LLP
Tenure
N/A
Audit Fees
$560,000
Non-Audit Fees
$131,000
Non-audit fees (audit-related fees of $95,000 plus tax fees of $36,000 = $131,000) represent approximately 23% of audit fees ($560,000), well below the 50% threshold that would raise independence concerns. Deloitte is a Big 4 firm appropriate for a $1.2B market cap company. Auditor tenure is not disclosed in the proxy, so the tenure trigger does not fire per policy. No material financial restatements were identified.
Overall Assessment
Alexander's 2026 annual meeting ballot is straightforward: the company's strong stock performance (+55.9% over three years, outpacing the ^FNER (FTSE NAREIT All Equity REITs Index) by +44 percentage points) supports FOR votes on all three director nominees, and the company's unique structure — where executives are paid nothing directly and all reported CEO compensation is director fees — makes the say-on-pay vote a clear FOR. The auditor ratification is also supported, as Deloitte's non-audit fees are well within acceptable limits and no tenure or restatement concerns were identified.