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.
Each company listed discloses CBL 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 CBL in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Stephen Lebovitz | $719,442 | $552,516 | $1,723,203 | $0 | $1,350,743 | $0 | $258,741 | $4,604,645 |
| Director, Chief Executive Officer | ||||||||
| Benjamin Jaenicke | 404,000 | 355,681 | 1,406,224 | 0 | 499,097 | 0 | 8,750 | 2,673,752 |
| Executive Vice President – Chief Financial Officer and Treasurer | ||||||||
| Michael Lebovitz | 428,691 | 223,309 | 735,347 | 0 | 381,470 | 0 | 8,750 | 1,777,567 |
| President | ||||||||
| Katie Reinsmidt | 353,500 | 253,612 | 735,347 | 0 | 369,053 | 0 | 8,750 | 1,720,262 |
| Executive Vice President – Chief Operating Officer | ||||||||
| Jeffery Curry | 406,443 | 160,686 | 735,347 | 0 | 274,493 | 0 | 8,750 | 1,585,719 |
| Chief Legal Officer and Secretary | ||||||||
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.
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Stephen Lebovitz | $4,604,645 | $4,391,267 | $4,783,991 | +213,378 |
| Benjamin Jaenicke | 2,673,752 | 2,604,262 | 2,723,659 | +69,490 |
| Michael Lebovitz | 1,777,567 | 1,702,268 | 1,852,557 | +75,299 |
| Katie Reinsmidt | 1,720,262 | 1,622,737 | 1,741,266 | +97,525 |
| Jeffery Curry | 1,585,719 | 1,518,270 | 1,674,723 | +67,449 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
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.
| Insider | Role | Transaction date | Code | Shares | Price | Value | Security | Source |
|---|---|---|---|---|---|---|---|---|
| Andrew Franklin Cobb | Exec VP-Accounting | 2026-05-14 | D | 8,099 | $46 | $370,971 | Common | Form 4 ↗ |
| Andrew Franklin Cobb | Exec VP-Accounting | 2026-05-14 | D | 51 | 46 | 2,362 | Common | Form 4 ↗ |
| CANYON CAPITAL ADVISORS LLC | — | 2026-05-22 | D | 1,050,000 | 46 | 48,762,000 | Common, indirect | Form 4 ↗ |
| Benjamin Jaenicke | EVP - Chief Financial Officer | 2026-06-02 | D | 526 | 49 | 25,545 | Common | Form 4 ↗ |
| Benjamin Jaenicke | EVP - Chief Financial Officer | 2026-06-02 | D | 5,974 | 48 | 289,440 | Common | Form 4 ↗ |
| David M. Fields | Director | 2026-06-05 | D | 3,592 | 48 | 172,308 | Common | Form 4 ↗ |
| Howard B. Grody | Exec VP-Leasing | 2026-06-18 | D | 1,000 | 48 | 47,920 | Common | Form 4 ↗ |
| Howard B. Grody | Exec VP-Leasing | 2026-06-18 | D | 4,728 | 48 | 227,218 | Common | Form 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.
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Katie Reinsmidt | RSU | 2025-02-12 | — | — | 8,733 | — | $269,413 |
| Jeffery Curry | RSU | 2025-02-12 | — | — | 8,733 | — | 269,413 |
| Benjamin Jaenicke | RSU | 2025-02-12 | — | — | 16,700 | — | 515,195 |
| Michael I. Lebovitz | PSU | 2025-02-12 | — | 26,198 | — | — | 465,934 |
| Stephen D. Lebovitz | PSU | 2025-02-12 | — | 70,636 | — | — | 1,256,257 |
| Benjamin Jaenicke | PSU | 2025-02-12 | — | 50,100 | — | — | 891,029 |
| Jeffery Curry | PSU | 2025-02-12 | — | 26,198 | — | — | 465,934 |
| Stephen D. Lebovitz | RSU | 2025-02-12 | — | — | 15,136 | — | 466,946 |
| Michael I. Lebovitz | RSU | 2025-02-12 | — | — | 8,733 | — | 269,413 |
| Katie Reinsmidt | PSU | 2025-02-12 | — | 26,198 | — | — | 465,934 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Katie Reinsmidt | $269,413 | $465,934 | $0 | 63.4% |
| Jeffery Curry | 269,413 | 465,934 | 0 | 63.4% |
| Benjamin Jaenicke | 515,195 | 891,029 | 0 | 63.4% |
| Michael I. Lebovitz | 269,413 | 465,934 | 0 | 63.4% |
| Stephen D. Lebovitz | 466,946 | 1,256,257 | 0 | 72.9% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Katie Reinsmidt | RSU | 20,266 | — | $749,842 |
| Lebovitz | PSU | 154,896 | — | 5,731,152 |
| Lebovitz | RSU | 37,688 | — | 1,394,456 |
| Lebovitz | RSU | 20,266 | — | 749,842 |
| Jeffery Curry | PSU | 57,451 | — | 2,125,687 |
| Benjamin Jaenicke | PSU | 109,865 | — | 4,065,005 |
| Lebovitz | PSU | 57,451 | — | 2,125,687 |
| Benjamin Jaenicke | RSU | 45,087 | — | 1,668,219 |
| Jeffery Curry | RSU | 20,266 | — | 749,842 |
| Katie Reinsmidt | PSU | 57,451 | — | 2,125,687 |
Our executive compensation program is designed to align with a strong pay-for-performance philosophy and ties a substantial portion of executive compensation to the achievement of annual and long-term performance.
| CEO STI target (% of salary) | 205% |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Ferguson Partners Consulting, L.P. |
| Clawback policy | True |
| Anti-hedging | True |
| Anti-pledging | True |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-05-21 | 22,773,554 | 346,714 | 2,193,369 | 98.5% | Passed |
| 2025 | 2025-05-22 | 24,040,051 | 220,875 | 31,197 | 99.09% | Passed |
| 2024 | 2024-05-22 | 25,958,665 | 193,727 | 17,160 | 99.26% | Passed |
| 2023 | 2023-05-24 | 26,408,437 | 400,011 | 14,528 | 98.51% | Passed |
| 2022 | 2022-05-26 | 23,726,806 | 398,482 | 35,195 | 98.35% | Passed |
| 2021 | 2021-05-25 | 70,403,713 | 5,624,028 | 463,143 | 92.6% | 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.
| Meeting year | Meeting date | Approval — company's computation |
|---|---|---|
| 2026 | 2026-05-21 | 98.5%a |
| 2025 | 2025-05-22 | 99.09%b |
| 2024 | 2024-05-22 | 99.26%c |
a. Approved under the standard stated in the filing — “Accordingly, assuming the presence of a quorum at the Annual Meeting, abstentions and broker non-votes will have no effect on the election of any nominee for director under Proposal 1, so long as such nominee receives any affirmative votes, and also will have no effect on the ratification of the selection of the independent registered public accountants under Proposal 2 or the advisory resolution approving compensation of our named executive officers under Proposal 3.”.
b. Approved under the standard stated in the filing — “Accordingly, assuming the presence of a quorum at the Annual Meeting, abstentions and broker non-votes will have no effect on the election of any nominee for director under Proposal 1, so long as such”.
c. Approved under the standard stated in the filing — “Accordingly, assuming the presence of a quorum at the Annual Meeting, abstentions and broker non-votes will have no effect on the election of any nominee for director under Proposal 1, so long as such”.
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.
| Ratio (CEO : median employee) | 64 : 1 |
|---|---|
| CEO total compensation | $4,604,645 |
| Median employee compensation | $71,397 |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| David J. ContisIndependent · Board Chair · Audit | $140,000 | $125,023 | $0 | — | $0 | $265,023 |
| Marjorie L. BowenIndependent · Audit (Chair) · Nominating/Corporate Governance | 115,000 | 125,023 | 0 | — | 0 | 240,023 |
| Robert G. GiffordIndependent · Audit · Compensation (Chair) | 110,000 | 125,023 | 0 | — | 0 | 235,023 |
| David M. FieldsIndependent · Compensation · Nominating/Corporate Governance (Chair) | 110,000 | 125,023 | 0 | — | 0 | 235,023 |
| Jeffrey A. KivitzIndependent · Compensation · Nominating/Corporate Governance | 105,000 | 125,023 | 0 | — | 0 | 230,023 |
| Michael A. TorresIndependent · Audit · Compensation | 105,000 | 125,023 | 0 | — | 0 | 230,023 |
| Stephen D. LebovitzEmployee director | 0 | 0 | 0 | — | 0 | 0 |
| Annual cash retainer | $75,000 |
|---|---|
| Annual equity retainer | $125,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 10,000 / 20,000 / 20,000 |
| Stock ownership guideline | $375,000 |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $685,000 |
| Equity awards (grant-date value) | $750,138 |
| All other compensation | $0 |
| Total cost of the board | $1,435,138 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.
Of the companies CBL & Associates Properties INC names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.
Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including CBL & Associates Properties INC.
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | The Macerich Company | 2025 | Jackson Hsieh | $1,000,000 | $10,826,050 | $0 | $0 | $15,047,450 |
| 2 | Urban Edge Properties | 2025 | Jeffrey Olson | 1,100,000 | 4,892,465 | 0 | 2,091,243 | 8,106,208 |
| 3 | Phillips Edison & Company | 2025 | Jeffrey Edison | 991,864 | 4,931,230 | 0 | 1,960,700 | 8,062,820 |
| 4 | Kite Realty Group Trust | 2025 | John Kite | 1,000,000 | 3,931,061 | 0 | 2,912,500 | 7,882,883 |
| 5 | InvenTrust Properties Corp. | 2025 | Daniel Busch | 950,000 | 4,627,084 | 0 | 2,012,813 | 7,597,244 |
| 6 | Tanger Inc. | 2025 | Stephen Yalof | 900,000 | 4,150,036 | 0 | 1,809,375 | 7,113,515 |
| 7 | Acadia Realty Trust | 2025 | Kenneth Bernstein | 850,000 | 3,574,544 | 0 | 2,486,898 | 6,922,230 |
| 8 | Retail Opportunity Investments Corp. | 2023 | Stuart Tanz | 900,000 | 4,096,638 | 0 | 1,575,000 | 6,626,718 |
| 9 | AH Realty Trust, Inc. | 2025 | Shawn Tibbetts | 672,385 | 4,411,428 | 0 | 953,250 | 6,091,906 |
| 10 | CBL & Associates Properties INC | 2025 | Stephen Lebovitz | 719,442 | 1,723,203 | 0 | 1,350,743 | 4,604,645 |
| 11 | CTO Realty Growth, Inc. | 2025 | John Albright | 870,000 | 1,778,421 | 0 | 1,239,750 | 3,905,735 |
| 12 | SITE Centers Corp. | 2025 | David Lukes | 0 | 0 | 0 | 0 | 0 |
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.
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| CBL & Associates Properties INC | 129.0% | PSU 70 · RSU 30 | Yes — Relative TSR vs. the Designated Index | Ferguson Partners Consulting, L.P. |
| Acadia Realty Trust | 145% | LTIP Units 100 | Yes — Relative TSR vs. Nareit Shopping Center Index | Ferguson Partners Consulting (FPC) |
| AH Realty Trust, Inc. | 123% | LTIP Units 100 | Yes — Relative TSR Performance v. Custom Peer Group | Ferguson Partners |
| CTO Realty Growth, Inc. | 150% | PSU 61 · RSU 39 | Yes — Relative TSR | Ferguson Partners Consulting |
| InvenTrust Properties Corp. | 212% | RSU 100 | No | Ferguson Partners Consulting |
| Kite Realty Group Trust | not disclosed | PSU 60 · RSU 40 | Yes — relative TSR performance versus shopping center REITs | Ferguson Partners Consulting |
| Phillips Edison & Company | 140% | PSU 68 · RSU 32 | Yes — Relative TSR | FPC |
| Retail Opportunity Investments Corp. | not disclosed | not disclosed | not disclosed | FTI Consulting Inc. |
| SITE Centers Corp. | not disclosed | not disclosed | not disclosed | Mercer (US) LLC |
| Tanger Inc. | 134.0% | PSU 60 · RSU 40 | Yes — Absolute TSR | Ferguson Partners |
| The Macerich Company | 200% | LTIP Units 100 | Yes — Relative TSR vs. Equity Peer REITs | Meridian (effective June 25, 2025); FW Cook (prior to June 25, 2025) |
| Urban Edge Properties | 190% | LTIP Units 100 | Yes — Absolute TSR | Farient Advisors |
Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.
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.
| # | Supports | Document | Filed | Accession | Location in document |
|---|---|---|---|---|---|
| 1 | Section 01, Stephen Lebovitz | DEF 14A | 2026-04-22 | 0001193125-26-170410 | Section “Summary Compensation Table” · page 49. As printed: 4,604,645. Filing ↗machine: r9 · c7 · span 1116408–1116417 |
| 2 | Section 01, Benjamin Jaenicke | DEF 14A | 2026-04-22 | 0001193125-26-170410 | Section “Summary Compensation Table” · page 49. As printed: 2,673,752. Filing ↗machine: r6 · c7 · span 1126342–1126351 |
| 3 | Section 01, Michael Lebovitz | DEF 14A | 2026-04-22 | 0001193125-26-170410 | Section “Summary Compensation Table” · page 49. As printed: 1,777,567. Filing ↗machine: r9 · c7 · span 1136160–1136169 |
| 4 | Section 01, Katie Reinsmidt | DEF 14A | 2026-04-22 | 0001193125-26-170410 | Section “Summary Compensation Table” · page 49. As printed: 1,720,262. Filing ↗machine: r12 · c7 · span 1146204–1146213 |
| 5 | Section 01, Jeffery Curry | DEF 14A | 2026-04-22 | 0001193125-26-170410 | Section “Summary Compensation Table” · page 49. As printed: 1,585,719. Filing ↗machine: r15 · c7 · span 1156082–1156091 |
| 6 | Section 03, Katie Reinsmidt RSU | DEF 14A | 2026-04-22 | 0001193125-26-170410 | Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t41 · r5 · c5 · span 934298–934303 |
| 7 | Section 03, Jeffery Curry RSU | DEF 14A | 2026-04-22 | 0001193125-26-170410 | Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t41 · r6 · c5 · span 936936–936941 |
| 8 | Section 03, Benjamin Jaenicke RSU | DEF 14A | 2026-04-22 | 0001193125-26-170410 | Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t41 · r3 · c5 · span 929016–929022 |
| 9 | Section 03, Michael I. Lebovitz PSU | DEF 14A | 2026-04-22 | 0001193125-26-170410 | Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t49 · r10 · c6 · span 1219758–1219764 |
| 10 | Section 03, Stephen D. Lebovitz PSU | DEF 14A | 2026-04-22 | 0001193125-26-170410 | Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t49 · r4 · c6 · span 1196545–1196551 |
| 11 | Section 03, Benjamin Jaenicke PSU | DEF 14A | 2026-04-22 | 0001193125-26-170410 | Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t49 · r7 · c6 · span 1208135–1208141 |
| 12 | Section 03, Jeffery Curry PSU | DEF 14A | 2026-04-22 | 0001193125-26-170410 | Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t49 · r16 · c6 · span 1242999–1243005 |
| 13 | Section 03, Stephen D. Lebovitz RSU | DEF 14A | 2026-04-22 | 0001193125-26-170410 | Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t41 · r2 · c5 · span 926371–926377 |
| 14 | Section 03, Michael I. Lebovitz RSU | DEF 14A | 2026-04-22 | 0001193125-26-170410 | Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t41 · r4 · c5 · span 931658–931663 |
| 15 | Section 03, Katie Reinsmidt PSU | DEF 14A | 2026-04-22 | 0001193125-26-170410 | Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t49 · r13 · c6 · span 1231367–1231373 |
| 16 | Section 07, pay ratio | DEF 14A | 2026-04-22 | 0001193125-26-170410 | Section “CEO Pay Ratio”. As printed: 64 : 1. Filing ↗machine: span 1592488–1592495 |
| 17 | Section 08, David J. Contis | DEF 14A | 2026-04-22 | 0001193125-26-170410 | Section “Director Compensation”. As printed: 265,023. Filing ↗machine: t63 · r3 · c3 · span 1796500–1796507 |
| 18 | Section 08, Marjorie L. Bowen | DEF 14A | 2026-04-22 | 0001193125-26-170410 | Section “Director Compensation”. As printed: 240,023. Filing ↗machine: t63 · r2 · c3 · span 1794773–1794780 |
| 19 | Section 08, Robert G. Gifford | DEF 14A | 2026-04-22 | 0001193125-26-170410 | Section “Director Compensation”. As printed: 235,023. Filing ↗machine: t63 · r5 · c3 · span 1799956–1799963 |
| 20 | Section 08, David M. Fields | DEF 14A | 2026-04-22 | 0001193125-26-170410 | Section “Director Compensation”. As printed: 235,023. Filing ↗machine: t63 · r4 · c3 · span 1798227–1798234 |
| 21 | Section 08, Jeffrey A. Kivitz | DEF 14A | 2026-04-22 | 0001193125-26-170410 | Section “Director Compensation”. As printed: 230,023. Filing ↗machine: t63 · r6 · c3 · span 1801684–1801691 |
| 22 | Section 08, Michael A. Torres | DEF 14A | 2026-04-22 | 0001193125-26-170410 | Section “Director Compensation”. As printed: 230,023. Filing ↗machine: t63 · r7 · c3 · span 1803412–1803419 |
| 23 | Section 08, Stephen D. Lebovitz | DEF 14A | 2026-04-22 | 0001193125-26-170410 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 24 | Section 02, Andrew Franklin Cobb 2026-05-14 | Form 4 | 2026-05-18 | 0001193125-26-228332 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 25 | Section 02, Andrew Franklin Cobb 2026-05-14 | Form 4 | 2026-05-18 | 0001193125-26-228332 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 26 | Section 02, CANYON CAPITAL ADVISORS LLC 2026-05-22 | Form 4 | 2026-05-26 | 0001193125-26-240037 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 27 | Section 02, Benjamin Jaenicke 2026-06-02 | Form 4 | 2026-06-03 | 0001193125-26-255028 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 28 | Section 02, Benjamin Jaenicke 2026-06-02 | Form 4 | 2026-06-03 | 0001193125-26-255028 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 29 | Section 02, David M. Fields 2026-06-05 | Form 4 | 2026-06-09 | 0001193125-26-263183 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 30 | Section 02, Howard B. Grody 2026-06-18 | Form 4 | 2026-06-22 | 0001193125-26-276828 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 31 | Section 02, Howard B. Grody 2026-06-18 | Form 4 | 2026-06-22 | 0001193125-26-276828 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 32 | Section 06, 2026 vote | Form 8-K | 2026-05-26 | 0001193125-26-238623 | Item 5.07 · say-on-pay result. As reported: 98.5% (votes for as printed: 22,773,554). Filing ↗ |
| 33 | Section 06, 2025 vote | Form 8-K | 2025-05-27 | 0000950170-25-077457 | Item 5.07 · say-on-pay result. As reported: 99.09% (votes for as printed: 24,040,051). Filing ↗ |
| 34 | Section 06, 2024 vote | Form 8-K | 2024-05-23 | 0000950170-24-063953 | Item 5.07 · say-on-pay result. As reported: 99.26% (votes for as printed: 25,958,665). Filing ↗ |
| 35 | Section 01 trend, Δ column (computed) | Computed | — | computed | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 36 | Section 03b vehicle mix (computed) | Computed | — | computed | RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio |
| 37 | Section 09b board cost (computed) | Computed | — | computed | Cash 685,000 + equity 750,138 + all other 0 = 1,435,138, summed across the director compensation table rows.machine: formula: Σ = 1,435,138 |
| 38 | The Macerich Company, Section 10b CEO total | DEF 14A | 2026-04-22 | 0001193125-26-170447 | CEO total compensation as printed in The Macerich Company's own proxy. As printed: 15,047,450. Filing ↗machine: r3 · c27 · span 743436–743446 |
| 39 | Urban Edge Properties, Section 10b CEO total | DEF 14A | 2026-03-24 | 0001140361-26-010899 | CEO total compensation as printed in Urban Edge Properties's own proxy. As printed: 8,106,208. Filing ↗machine: r2 · c21 · span 876925–876934 |
| 40 | Phillips Edison & Company, Section 10b CEO total | DEF 14A | 2026-03-23 | 0001476204-26-000016 | CEO total compensation as printed in Phillips Edison & Company's own proxy. As printed: 8,062,820. Filing ↗machine: r5 · c18 · span 575792–575801 |
| 41 | Kite Realty Group Trust, Section 10b CEO total | DEF 14A | 2026-04-01 | 0001286043-26-000024 | CEO total compensation as printed in Kite Realty Group Trust's own proxy. As printed: 7,882,883. Filing ↗machine: r2 · c6 · span 1509426–1509435 |
| 42 | InvenTrust Properties Corp., Section 10b CEO total | DEF 14A | 2026-03-19 | 0001307748-26-000097 | CEO total compensation as printed in InvenTrust Properties Corp.'s own proxy. As printed: 7,597,244. Filing ↗machine: t86 · r3 · c7 · span 1486834–1486843 |
| 43 | Tanger Inc., Section 10b CEO total | DEF 14A | 2026-03-26 | 0001628280-26-021249 | CEO total compensation as printed in Tanger Inc.'s own proxy. As printed: 7,113,515. Filing ↗machine: r5 · c33 · span 922980–922989 |
| 44 | Acadia Realty Trust, Section 10b CEO total | DEF 14A | 2026-03-31 | 0001193125-26-134606 | CEO total compensation as printed in Acadia Realty Trust's own proxy. As printed: 6,922,230. Filing ↗machine: span 777495–777504 |
| 45 | Retail Opportunity Investments Corp., Section 10b CEO total | DEF 14A | 2024-03-22 | 0001407623-24-000062 | CEO total compensation as printed in Retail Opportunity Investments Corp.'s own proxy. As printed: 6,626,718. Filing ↗machine: r2 · c42 · span 607173–607182 |
| 46 | AH Realty Trust, Inc., Section 10b CEO total | DEF 14A | 2026-04-30 | 0001569187-26-000061 | CEO total compensation as printed in AH Realty Trust, Inc.'s own proxy. As printed: 6,091,906. Filing ↗machine: span 682444–682453 |
| 47 | CBL & Associates Properties INC (subject), Section 10b CEO total | DEF 14A | 2026-04-22 | 0001193125-26-170410 | CEO total compensation as printed in CBL & Associates Properties INC's own proxy. As printed: 4,604,645. Filing ↗machine: r9 · c7 · span 1116408–1116417 |
| 48 | CTO Realty Growth, Inc., Section 10b CEO total | DEF 14A | 2026-04-28 | 0001104659-26-050405 | CEO total compensation as printed in CTO Realty Growth, Inc.'s own proxy. As printed: 3,905,735. Filing ↗machine: t23 · r1 · c35 · span 620653–620662 |
| 49 | SITE Centers Corp., Section 10b CEO total | DEF 14A | 2026-03-31 | 0001193125-26-134508 | CEO total compensation as printed in SITE Centers Corp.'s own proxy. As printed: 0. Filing ↗ |
| 50 | Section 10a, SITE Centers Corp. reciprocity | DEF 14A | — | 0001193125-25-071314 | SITE Centers Corp.'s most recent proxy was read; its disclosed peer group does not include CBL & Associates Properties INC. Filing ↗ |
| 51 | Section 10a, CTO Realty Growth, Inc. reciprocity | DEF 14A | — | 0001104659-26-050405 | CTO Realty Growth, Inc.'s most recent proxy was read; its disclosed peer group does not include CBL & Associates Properties INC. Filing ↗ |
| 52 | Section 10a, Retail Opportunity Investments Corp. reciprocity | DEF 14A | — | 0001407623-24-000062 | Retail Opportunity Investments Corp.'s most recent proxy was read; its disclosed peer group does not include CBL & Associates Properties INC. Filing ↗ |
| 53 | Section 10a, Urban Edge Properties reciprocity | DEF 14A | — | 0001140361-26-010899 | Urban Edge Properties's most recent proxy was read; its disclosed peer group does not include CBL & Associates Properties INC. Filing ↗ |
| 54 | Section 10a, Kite Realty Group Trust reciprocity | DEF 14A | — | 0001286043-26-000024 | Kite Realty Group Trust's most recent proxy was read; its disclosed peer group does not include CBL & Associates Properties INC. Filing ↗ |
| 55 | Section 10a, AH Realty Trust, Inc. reciprocity | DEF 14A | — | 0001569187-26-000061 | AH Realty Trust, Inc. names CBL & Associates Properties INC in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 56 | Section 10a, The Macerich Company reciprocity | DEF 14A | — | 0001193125-26-170447 | The Macerich Company's most recent proxy was read; its disclosed peer group does not include CBL & Associates Properties INC. Filing ↗ |
| 57 | Section 10a, Acadia Realty Trust reciprocity | DEF 14A | — | 0001193125-26-134606 | Acadia Realty Trust names CBL & Associates Properties INC in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 58 | Section 10a, Phillips Edison & Company reciprocity | DEF 14A | — | 0001476204-26-000016 | Phillips Edison & Company's most recent proxy was read; its disclosed peer group does not include CBL & Associates Properties INC. Filing ↗ |
| 59 | Section 10a, Tanger Inc. reciprocity | DEF 14A | — | 0001628280-26-021249 | Tanger Inc.'s most recent proxy was read; its disclosed peer group does not include CBL & Associates Properties INC. Filing ↗ |