CEO David R. Lukes received total reported compensation of approximately $3.28 million in 2025, which is modest relative to benchmark expectations for a CEO of a $2.7 billion market cap equity REIT, well within the policy's acceptable range. The compensation structure is strongly performance-oriented: the company states that 98% of the CEO's target annualized pay is variable or at-risk, with only $50,000 in fixed base salary, and the remainder tied to company stock performance, service vesting, and performance metrics including relative total shareholder return. The company outperformed its equity REIT benchmark (^FNER — FTSE NAREIT All Equity REITs Index) by approximately 22.9 percentage points over the relevant period, supporting alignment between above-benchmark incentive pay and actual shareholder outcomes; a meaningful clawback policy is also in place as required by NYSE listing standards.

PricewaterhouseCoopers LLP is a Big 4 firm appropriate for a $2.7 billion market cap REIT. The proxy does not disclose auditor fee data or tenure in the text provided, so neither the non-audit fee ratio trigger nor the tenure trigger can be confirmed; per policy, the tenure trigger requires confirmed data to fire, and the fee trigger likewise cannot be assessed without disclosed figures — the default FOR vote applies.