Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-06-01

Ares Commercial Real Estate Corp. (ACRE)

Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$491,919
Jeffrey Gonzales total, FY2025
Chief Financial Officer and Treasurerhighest-paid officer; CEO Bryan Donohoe: $263,340
CEO (Bryan Donohoe) pay percentile vs peers
CEO-to-median pay ratio
88.74%
Say-on-pay support, latest vote
Companies that benchmark against ACRE
2 companies name ACRE as a compensation peer

Each company listed discloses ACRE in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named ACRE in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Jeffrey Gonzales$145,432$112,407$234,080$0$0$0$0$491,919
Chief Financial Officer and Treasurer
Bryan Donohoe00263,3400000263,340
Chief Executive Officer
Anton Feingold85,59754,619117,0400000257,256
General Counsel, Vice President and Secretary
Tae-Sik Yoon00198,9680000198,968
Chief Operating Officer and Former Chief Financial Officer and Treasurer

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY20242025
Jeffrey Gonzales$491,919$481,083+10,836
Bryan Donohoe263,340287,550637,200−24,210
Anton Feingold257,256329,509399,074−72,253
Tae-Sik Yoon198,968496,285615,389−297,317

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

02

Equity transactions since the proxy statement was filed

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Caroline E. BlakelyDirector2026-04-29A18,879$0$0CommonForm 4 ↗
James E. SkinnerDirector2026-04-29A18,87900CommonForm 4 ↗
William L. BrowningDirector2026-04-29A18,87900CommonForm 4 ↗
Rand S. AprilDirector2026-04-29A18,87900CommonForm 4 ↗
Edmond N. Moriarty, IIIDirector2026-04-29A18,87900CommonForm 4 ↗
Rebecca J. ParekhDirector2026-04-29A18,87900CommonForm 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Tae-Sik YoonRSU2025-12-2037,400$198,968
Jeffrey GonzalesRSU2025-12-2044,000234,080
Anton FeingoldRSU2025-12-2022,000117,040
Bryan DonohoeRSU2025-12-2049,500263,340
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Tae-Sik Yoon$198,968$0$00.0%
Jeffrey Gonzales234,080000.0%
Anton Feingold117,040000.0%
Bryan Donohoe263,340000.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Bryan DonohoeRSU155,166$741,694
Anton FeingoldRSU59,500284,410
Tae-Sik YoonRSU109,899525,317
Jeffrey GonzalesRSU80,666385,583
05

Incentive-plan design — the Compensation Discussion & Analysis

Ares Management's compensation policy has several primary objectives: Performance‑Based Compensation: Establish a clear relationship between performance and compensation; Alignment: Align the interests of key employees with fund investors and unitholders to maximize value; and Competitive Pay: Provide competitive incentive opportunities, with an appropriate balance between short‑term and long‑term incentives.

CEO STI target (% of salary)
CEO LTI target (% of salary)
Independent consultantFerguson Partners Consulting, L.P.
Clawback policyTrue
Anti-hedgingTrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-2719,848,8232,518,989283,58288.74%Passed
20252025-05-2719,652,3631,929,540346,23591.06%Passed
20242024-05-2220,811,6692,091,327371,49790.87%Passed
20232023-05-2521,095,0161,135,522505,11894.89%Passed
20222022-05-2521,315,6781,116,013429,51295.02%Passed
20212021-05-2519,005,8232,476,474169,07488.47%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-05-2788.74%a
20252025-05-2791.06%b
20242024-05-2290.87%c

a. Approved under the standard stated in the filing — “For purposes of the vote on Proposal 2, abstentions will not be counted as votes cast and will have no effect on the result of the vote.”.

b. Approved under the standard stated in the filing — “For purposes of the vote on Proposal 2, abstentions will not be counted as votes cast and will have no effect on the result of the vote.”.

c. Approved under the standard stated in the filing — “For purposes of the vote on Proposal 2, abstentions will not be counted as votes cast and will have no effect on the result of the vote.”.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)
CEO total compensation
Median employee compensation
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Caroline E. BlakelyIndependent$100,000$100,000$0$0$0$200,000
James E. SkinnerIndependent · Audit (Chair) · Compensation (Chair)100,000100,000000200,000
Rebecca J. ParekhIndependent · Nominating/Governance100,000100,000000200,000
Rand S. AprilIndependent · Nominating/Governance (Chair) · Compensation100,000100,000000200,000
William L. BrowningIndependent · Audit (Chair) · Compensation100,000100,000000200,000
Edmond N. Moriarty, IIIIndependent · Audit · Nominating/Governance95,00095,000000190,000
Bryan P. DonohoeEmployee director000000
William S. BenjaminNot independent000000
09

Board fee structure and ownership guideline

Annual cash retainer$175,000
Annual equity retainer
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)10,000 / 5,000 / 5,000
Stock ownership guideline3x annual cash fees
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$595,000
Equity awards (grant-date value)$595,000
All other compensation$0
Total cost of the board$1,190,000

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Ares Commercial Real Estate Corp.2025Bryan Donohoe$0$263,340$0$0$263,340

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

FAQ

Frequently asked questions

Who was the highest-paid executive at Ares Commercial Real Estate Corp. in fiscal 2025?
The highest-paid executive at Ares Commercial Real Estate Corp. in fiscal 2025 was Jeffrey Gonzales, Chief Financial Officer and Treasurer, with total compensation of $491,919.
How does Ares Commercial Real Estate Corp.'s chief executive pay compare to its disclosed peer group?
The filing shows the CEO pay percentile of disclosed peers was not disclosed.
What is Ares Commercial Real Estate Corp.'s CEO-to-median employee pay ratio?
The CEO-to-median employee pay ratio was not disclosed in this extract.
How did shareholders vote on Ares Commercial Real Estate Corp.'s executive compensation?
Shareholders supported the executive compensation plan with 88.74% approval in the latest vote.
How much does Ares Commercial Real Estate Corp. spend in total on board compensation for fiscal 2025?
Total board compensation for fiscal 2025 was $1,190,000.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Jeffrey GonzalesDEF 14A2026-04-010001628280-26-022805Section “2025 Summary Compensation Table”. As printed: 491,919. Filing ↗machine: r11 · c36 · span 338153–338160
2Section 01, Bryan DonohoeDEF 14A2026-04-010001628280-26-022805Section “2025 Summary Compensation Table” · page 36. As printed: 263,340. Filing ↗machine: r2 · c36 · span 324597–324604
3Section 01, Anton FeingoldDEF 14A2026-04-010001628280-26-022805Section “2025 Summary Compensation Table”. As printed: 257,256. Filing ↗machine: r14 · c36 · span 342835–342842
4Section 01, Tae-Sik YoonDEF 14A2026-04-010001628280-26-022805Section “2025 Summary Compensation Table” · page 36. As printed: 198,968. Filing ↗machine: r6 · c36 · span 330299–330306
5Section 03, Tae-Sik Yoon RSUDEF 14A2026-04-010001628280-26-022805Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t12 · r3 · c8 · span 356717–356724
6Section 03, Jeffrey Gonzales RSUDEF 14A2026-04-010001628280-26-022805Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t12 · r4 · c8 · span 358006–358013
7Section 03, Anton Feingold RSUDEF 14A2026-04-010001628280-26-022805Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t12 · r5 · c8 · span 359348–359355
8Section 03, Bryan Donohoe RSUDEF 14A2026-04-010001628280-26-022805Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t12 · r2 · c8 · span 355379–355386
9Section 07, pay ratioDEF 14A2026-04-010001628280-26-022805Section “CEO Pay Ratio”. As printed: —. Filing ↗
10Section 08, Caroline E. BlakelyDEF 14A2026-04-010001628280-26-022805Section “Director Compensation”. As printed: 200,000. Filing ↗machine: t7 · r3 · c11 · span 258184–258191
11Section 08, James E. SkinnerDEF 14A2026-04-010001628280-26-022805Section “Director Compensation”. As printed: 200,000. Filing ↗
12Section 08, Rebecca J. ParekhDEF 14A2026-04-010001628280-26-022805Section “Director Compensation”. As printed: 200,000. Filing ↗
13Section 08, Rand S. AprilDEF 14A2026-04-010001628280-26-022805Section “Director Compensation”. As printed: 200,000. Filing ↗
14Section 08, William L. BrowningDEF 14A2026-04-010001628280-26-022805Section “Director Compensation”. As printed: 200,000. Filing ↗machine: t7 · r4 · c11 · span 260043–260050
15Section 08, Edmond N. Moriarty, IIIDEF 14A2026-04-010001628280-26-022805Section “Director Compensation”. As printed: 190,000. Filing ↗machine: t7 · r5 · c11 · span 261902–261909
16Section 08, Bryan P. DonohoeDEF 14A2026-04-010001628280-26-022805Section “Director Compensation”. As printed: 0. Filing ↗
17Section 08, William S. BenjaminDEF 14A2026-04-010001628280-26-022805Section “Director Compensation”. As printed: 0. Filing ↗
18Section 02, Caroline E. Blakely 2026-04-29Form 42026-05-010001628280-26-029287Insider equity transaction reported since the proxy statement. Filing ↗
19Section 02, James E. Skinner 2026-04-29Form 42026-05-010001628280-26-029272Insider equity transaction reported since the proxy statement. Filing ↗
20Section 02, William L. Browning 2026-04-29Form 42026-05-010001628280-26-029297Insider equity transaction reported since the proxy statement. Filing ↗
21Section 02, Rand S. April 2026-04-29Form 42026-05-010001628280-26-029278Insider equity transaction reported since the proxy statement. Filing ↗
22Section 02, Edmond N. Moriarty, III 2026-04-29Form 42026-05-010001628280-26-029275Insider equity transaction reported since the proxy statement. Filing ↗
23Section 02, Rebecca J. Parekh 2026-04-29Form 42026-05-010001628280-26-029270Insider equity transaction reported since the proxy statement. Filing ↗
24Section 06, 2026 voteForm 8-K2026-06-010001628280-26-039475Item 5.07 · say-on-pay result. As reported: 88.74% (votes for as printed: 19,848,823). Filing ↗
25Section 06, 2025 voteForm 8-K2025-05-280001628280-25-028167Item 5.07 · say-on-pay result. As reported: 91.06% (votes for as printed: 19,652,363). Filing ↗
26Section 06, 2024 voteForm 8-K2024-05-290001628280-24-025620Item 5.07 · say-on-pay result. As reported: 90.87% (votes for as printed: 20,811,669). Filing ↗
27Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
28Section 03b vehicle mix (computed)ComputedcomputedRSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
29Section 09b board cost (computed)ComputedcomputedCash 595,000 + equity 595,000 + all other 0 = 1,190,000, summed across the director compensation table rows.machine: formula: Σ = 1,190,000
30Ares Commercial Real Estate Corp. (subject), Section 10b CEO totalDEF 14A2026-04-010001628280-26-022805CEO total compensation as printed in Ares Commercial Real Estate Corp.'s own proxy. As printed: 263,340. Filing ↗machine: r2 · c36 · span 324597–324604