Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-03-05

CEDAR REALTY TRUST, INC. (CDR)

CEO M. Andrew Franklin was paid $142,000 in fiscal year 2025, ↓ down 28.6% from fiscal year 2024 (SEC filing 0000761648-26-000008 ↗): 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.

$142,000 ↓
M. Andrew Franklin total, FY2025
—
CEO pay percentile vs peers
—
CEO-to-median pay ratio
67.53%
Say-on-pay support, latest vote

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Sample answer — “What is the CEO’s total compensation?”
- M. Andrew Franklin (Chief Executive Officer and President), FY2025 total compensation $142,000 (base salary $120,000) [exec_comp, SEC accession 0000761648-26-000008, filed 2026-03-05]

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01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
M. Andrew Franklin$120,000$22,000—$0$0$0—$142,000
Chief Executive Officer and President
Crystal Plum75,00020,000—000—95,000
Chief Financial Officer

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 FY2024→2025
M. Andrew Franklin$142,000$199,000—↓ −57,000
Crystal Plum95,000123,000—↓ −28,000

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

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Companies that benchmark against CDR
No companies currently name CDR as a compensation peer in their most recent disclosure.

This is the complete answer, not a partial one — the list is never padded.

02

Equity transactions since the proxy statement was filed

No insider equity transactions reported since the proxy statement.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
M. Andrew FranklinRSU2,138—$855
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20212021-06-034,792,1742,303,9898,34167.53%Passed
20202020-05-2749,324,50022,248,852358,32668.91%Passed
20182018-05-0279,419,6541,517,930105,06198.12%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
20212021-06-0367.53%a
20202020-05-2768.91%b
20182018-05-0298.12%c

a. Voting standard not stated in the filing.

b. Voting standard not stated in the filing.

c. Voting standard not stated in the filing.

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.

08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Kerry G. CampbellIndependent · Board Chair$90,000$0——$0$90,000
Paula J. PoskonIndependent50,0000——050,000
E.J. BorrackIndependent50,0000——050,000
Gary SkoienIndependent · Newly elected48,3330——048,333
M. Andrew FranklinEmployee director00——00
Crystal PlumEmployee director00——00
09

Board fee structure and ownership guideline

Annual cash retainer$50,000
Annual equity retainer$0
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)—
Stock ownership guideline—
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$238,333
Equity awards (grant-date value)$0
All other compensation$0
Total cost of the board$238,333

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
1CEDAR REALTY TRUST, INC.2025M. Andrew Franklin$120,000—$0$0$142,000

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.

10d

Frequently asked questions

Who was the highest-paid executive at CEDAR REALTY TRUST, INC. in fiscal 2025?
As disclosed, M. Andrew Franklin (Chief Executive Officer and President) was the highest-paid executive at CEDAR REALTY TRUST, INC. in fiscal 2025, with total compensation of $142,000.
How did shareholders vote on CEDAR REALTY TRUST, INC.'s executive compensation?
As disclosed, 67.53% of shareholders supported CEDAR REALTY TRUST, INC.'s executive compensation in the latest say-on-pay vote.
How much does CEDAR REALTY TRUST, INC. spend in total on board compensation for fiscal 2025?
As disclosed, CEDAR REALTY TRUST, INC. reported total board compensation of $238,333 for fiscal 2025.

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, M. Andrew Franklin10-K2026-03-050000761648-26-000008Section “Executive Compensation”. As printed: 142,000. Filing ↗machine: r2 · c36 · span 1388100–1388107
2Section 01, Crystal Plum10-K2026-03-050000761648-26-000008Section “Executive Compensation”. As printed: 95,000. Filing ↗machine: r5 · c36 · span 1393458–1393464
3Section 08, Kerry G. Campbell10-K2026-03-050000761648-26-000008Section “Director Compensation”. As printed: 90,000. Filing ↗machine: span 1369823–1369954
4Section 08, Paula J. Poskon10-K2026-03-050000761648-26-000008Section “Director Compensation”. As printed: 50,000. Filing ↗machine: span 1373624–1373755
5Section 08, E.J. Borrack10-K2026-03-050000761648-26-000008Section “Director Compensation”. As printed: 50,000. Filing ↗machine: span 1371735–1371866
6Section 08, Gary Skoien10-K2026-03-050000761648-26-000008Section “Director Compensation”. As printed: 48,333. Filing ↗machine: span 1375513–1375644
7Section 08, M. Andrew Franklin10-K2026-03-050000761648-26-000008Section “Director Compensation”. As printed: 0. Filing ↗
8Section 08, Crystal Plum10-K2026-03-050000761648-26-000008Section “Director Compensation”. As printed: 0. Filing ↗
9Section 06, 2021 voteForm 8-K2021-06-080001193125-21-185497Item 5.07 · say-on-pay result. As reported: 67.53% (votes for as printed: 4,792,174). Filing ↗machine: t9 · r2 · c0 · span 41458–41467
10Section 06, 2020 voteForm 8-K2020-06-010001193125-20-156653Item 5.07 · say-on-pay result. As reported: 68.91% (votes for as printed: 49,324,500). Filing ↗machine: t9 · r2 · c1 · span 26806–26816
11Section 06, 2018 voteForm 8-K2018-05-070001193125-18-154670Item 5.07 · say-on-pay result. As reported: 98.12% (votes for as printed: 79,419,654). Filing ↗machine: t13 · r2 · c0 · span 26640–26803
12Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
13Section 09b board cost (computed)Computed——Cash 238,333 + equity 0 + all other 0 = 238,333, summed across the director compensation table rows.machine: formula: Σ = 238,333
14CEDAR REALTY TRUST, INC. (subject), Section 10b CEO total10-K2026-03-050000761648-26-000008CEO total compensation as printed in CEDAR REALTY TRUST, INC.'s own proxy. As printed: 142,000. Filing ↗machine: r2 · c36 · span 1388100–1388107

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