CEO David Bistricer was paid $2,047,372 in fiscal year 2025, ↓ down 40.7% from fiscal year 2024 (SEC filing 0001437749-26-014021 ↗): 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.
$2,047,372 ↓ David Bistricer total, FY2025 | — CEO pay percentile vs peers | — CEO-to-median pay ratio | 98.25% Say-on-pay support, latest vote |
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| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| David Bistricer | $630,000 | $0 | $835,000 | $0 | $0 | $0 | $582,372 | $2,047,372 |
| Chief Executive Officer and Co-Chairman of the Board | ||||||||
| J. Josef Bistricer | 425,000 | 0 | 250,000 | 0 | 307,000 | 0 | 587,458 | 1,569,458 |
| Chief Operating Officer | ||||||||
| Jacob Schwimmer | 325,000 | 0 | 250,000 | 0 | 300,000 | 0 | 416,594 | 1,291,594 |
| Chief Property Management 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.
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| David Bistricer | $2,047,372 | $3,450,307 | $2,025,552 | ↓ −1,402,935 |
| J. Josef Bistricer | 1,569,458 | 4,125,976 | 1,754,589 | ↓ −2,556,518 |
| Jacob Schwimmer | 1,291,594 | 3,111,700 | 1,824,812 | ↓ −1,820,106 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
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$2,047,372 David Bistricer total, FY2025
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Data as of October 2, 2026 · Source: 0001437749-26-014021 · Velarion Executive Compensation Database, deposited on Zenodo (doi:10.5281/zenodo.22283855).
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One page per director: the seat, the committees and the fee table, read for one person at a time.
| Director | Role | FY2025 total |
|---|---|---|
| Harmon S. Spolan | Independent Director | $110,596 |
| Howard M. Lorber | Independent Director | $131,229 |
| Richard N. Burger | Independent Director | $110,596 |
| Robert J. Ivanhoe | Independent Director | $121,229 |
| Roberto A. Verrone | Director | $105,158 |
| Sam Levinson | Director | $1,344,890 |
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 |
|---|---|---|---|---|---|---|---|---|
| Sam Levinson | Director | 2026-08-12 | A | 69,172 | $3 | $213,527 | Common | Form 4 ↗ |
| Sam Levinson | Director | 2026-08-13 | A | 81,647 | 3 | 262,291 | Common | Form 4 ↗ |
| Sam Levinson | Director | 2026-08-14 | A | 3,945 | 3 | 12,978 | Common | Form 4 ↗ |
| Sam Levinson | Director | 2026-08-18 | A | 86,983 | 3 | 273,866 | Common | Form 4 ↗ |
| Sam Levinson | Director | 2026-08-19 | A | 9,260 | 3 | 29,095 | Common | Form 4 ↗ |
| Sam Levinson | Director | 2026-08-20 | A | 2,392 | 3 | 7,630 | Common | Form 4 ↗ |
| Sam Levinson | Director | 2026-08-31 | A | 1,742 | 3 | 5,660 | Common | Form 4 ↗ |
| Sam Levinson | Director | 2026-09-01 | A | 934 | 3 | 2,986 | Common | Form 4 ↗ |
| Sam Levinson | Director | 2026-09-02 | A | 5,387 | 3 | 17,487 | Common | Form 4 ↗ |
| Sam Levinson | Director | 2026-09-08 | A | 6,842 | 3 | 22,190 | Common | Form 4 ↗ |
| Sam Levinson | Director | 2026-09-09 | A | 110,710 | 3 | 365,941 | Common | Form 4 ↗ |
| Sam Levinson | Director | 2026-09-14 | A | 4,769 | 3 | 15,640 | Common | Form 4 ↗ |
| Sam Levinson | Director | 2026-09-15 | A | 4,315 | 3 | 14,240 | Common | Form 4 ↗ |
| Sam Levinson | Director | 2026-09-23 | A | 13,606 | 3 | 45,947 | Common | Form 4 ↗ |
| Sam Levinson | Director | 2026-09-24 | A | 9,317 | 3 | 31,487 | Common | Form 4 ↗ |
| Jacob Bistricer | Chief Operating Officer | 2026-09-28 | D | 63,000 | 0 | 0 | Common | Form 4 ↗ |
| Jacob Bistricer | Chief Operating Officer | 2026-09-28 | A | 73,500 | 3 | 246,225 | Common | Form 4 ↗ |
| David Bistricer | Director | 2026-09-30 | D | 318,262 | 0 | 0 | Common | Form 4 ↗ |
| David Bistricer | Director | 2026-09-30 | D | 348,933 | 0 | 0 | Common | Form 4 ↗ |
| David Bistricer | Director | 2026-09-30 | D | 4,278,058 | 0 | 0 | Common | Form 4 ↗ |
| Sam Levinson | Director | 2026-09-30 | A | 1,069,514.5 | 0 | 0 | Common, indirect | Form 4 ↗ |
| Sam Levinson | Director | 2026-09-30 | A | 188,354 | 0 | 0 | Common | Form 4 ↗ |
| Sam Levinson | Director | 2026-09-30 | A | 693,125 | 0 | 0 | Common, indirect | Form 4 ↗ |
| David Bistricer | Director | 2026-09-30 | A | 1,069,515 | 0 | 0 | Common | Form 4 ↗ |
| David Bistricer | Director | 2026-09-30 | A | 693,125 | 0 | 0 | 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 |
|---|---|---|---|---|---|---|---|
| David Bistricer | RSU | 2025-03-12 | — | — | 117,841 | — | $535,000 |
| J. Josef Bistricer | RSU | 2025-03-12 | — | — | 55,066 | — | 250,000 |
| Jacob Schwimmer | RSU | 2025-03-12 | — | — | 55,066 | — | 250,000 |
| David Bistricer | RSU | 2025-03-12 | — | — | 66,079 | — | 300,000 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| David Bistricer | $835,000 | $0 | $0 | 0.0% |
| J. Josef Bistricer | 250,000 | 0 | 0 | 0.0% |
| Jacob Schwimmer | 250,000 | 0 | 0 | 0.0% |
% 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 |
|---|---|---|---|---|
| Bistricer | RSU | 813,188 | — | $3,106,378 |
| Bistricer | RSU | 1,174,640 | — | 4,487,125 |
| Jacob Schwimmer | RSU | 853,032 | — | 3,254,804 |
We seek to align the interests of our named executive officers with the interests of our stockholders by providing a portion of our named executive officers compensation in the form of at-risk awards tied to our short-term and long-term strategy and measurable performance. In addition, a portion of our executives compensation is given in the form of equity that vests ratably over several years to encourage retention and further reinforce stockholder alignment.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | — |
| Clawback policy | true |
| Anti-hedging | True |
| Anti-pledging | False |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-06-17 | 30,337,150 | 539,500 | 23,926 | 98.25% | Passed |
| 2023 | 2023-06-15 | 34,002,074 | 1,255,498 | 16,765 | 96.44% | 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 | 2026-06-17 | 98.25%a |
| 2023 | 2023-06-15 | 96.44%b |
a. Approved under the standard stated in the filing — “If you elect to abstain from voting on this proposal, the abstention will have no effect on the result of the vote, although your shares will be considered present for determining the presence of a quorum, with respect to this proposal.”.
b. Approved under the standard stated in the filing — “If you elect to abstain from voting on this proposal, the abstention will have no effect on the result of the vote, although your shares will be considered present for determining the presence of a quorum, with respect to this proposal.”.
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) | — |
|---|---|
| CEO total compensation | — |
| Median employee compensation | — |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Sam LevinsonNot independent · Investment (Chair) | — | $760,000 | $0 | $0 | $584,890 | $1,344,890 |
| Howard M. LorberIndependent · Audit (Chair) · Compensation (Chair) · Nominating/Governance | 95,000 | 25,970 | 0 | 0 | 10,259 | 131,229 |
| Robert J. IvanhoeIndependent · Nominating/Governance (Chair) · Investment | 85,000 | 25,970 | 0 | 0 | 10,259 | 121,229 |
| Richard N. BurgerIndependent · Audit · Compensation | 75,000 | 25,970 | 0 | 0 | 9,626 | 110,596 |
| Harmon S. SpolanIndependent · Audit · Compensation · Nominating/Governance | 75,000 | 25,970 | 0 | 0 | 9,626 | 110,596 |
| Roberto A. VerroneNot independent · Investment | 75,000 | 25,970 | 0 | 0 | 4,188 | 105,158 |
| David BistricerEmployee director · Investment | 0 | 0 | 0 | — | 0 | 0 |
| Annual cash retainer | $75,000 |
|---|---|
| Annual equity retainer | — |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | — |
| Stock ownership guideline | — |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $405,000 |
| Equity awards (grant-date value) | $889,850 |
| All other compensation | $628,848 |
| Total cost of the board | $1,923,698 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
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 | Clipper Realty Inc. | 2025 | David Bistricer | $630,000 | $835,000 | $0 | $0 | $2,047,372 |
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.
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.
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, David Bistricer | DEF 14A | 2026-04-30 | 0001437749-26-014021 | Section “Summary Compensation Table”. As printed: 2,047,372. Filing ↗machine: span 239614–239623 |
| 2 | Section 01, J. Josef Bistricer | DEF 14A | 2026-04-30 | 0001437749-26-014021 | Section “Summary Compensation Table”. As printed: 1,569,458. Filing ↗machine: span 248793–248802 |
| 3 | Section 01, Jacob Schwimmer | DEF 14A | 2026-04-30 | 0001437749-26-014021 | Section “Summary Compensation Table”. As printed: 1,291,594. Filing ↗machine: span 257979–257988 |
| 4 | Section 03, David Bistricer RSU | DEF 14A | — | 0001437749-26-014021 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗ |
| 5 | Section 03, J. Josef Bistricer RSU | DEF 14A | 2026-04-30 | 0001437749-26-014021 | Section “EXECUTIVE COMPENSATION &” · grants of plan-based awards table. Filing ↗machine: t61 · r4 · c8 · span 247251–247258 |
| 6 | Section 03, Jacob Schwimmer RSU | DEF 14A | 2026-04-30 | 0001437749-26-014021 | Section “EXECUTIVE COMPENSATION &” · grants of plan-based awards table. Filing ↗machine: t61 · r7 · c8 · span 256437–256444 |
| 7 | Section 03, David Bistricer RSU | DEF 14A | — | 0001437749-26-014021 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗ |
| 8 | Section 07, pay ratio | 10-K | 2026-02-26 | 0001437749-26-005856 | Section “CEO Pay Ratio”. As printed: —. Filing ↗ |
| 9 | Section 08, Sam Levinson | DEF 14A | 2026-04-30 | 0001437749-26-014021 | Section “Director Compensation”. As printed: 1,344,890. Filing ↗machine: t72 · r1 · c15 · span 339590–339599 |
| 10 | Section 08, Howard M. Lorber | DEF 14A | 2026-04-30 | 0001437749-26-014021 | Section “Director Compensation”. As printed: 131,229. Filing ↗machine: t72 · r2 · c15 · span 342044–342051 |
| 11 | Section 08, Robert J. Ivanhoe | DEF 14A | 2026-04-30 | 0001437749-26-014021 | Section “Director Compensation”. As printed: 121,229. Filing ↗machine: t72 · r4 · c15 · span 346949–346956 |
| 12 | Section 08, Richard N. Burger | DEF 14A | 2026-04-30 | 0001437749-26-014021 | Section “Director Compensation”. As printed: 110,596. Filing ↗machine: t72 · r3 · c15 · span 344496–344503 |
| 13 | Section 08, Harmon S. Spolan | DEF 14A | 2026-04-30 | 0001437749-26-014021 | Section “Director Compensation”. As printed: 110,596. Filing ↗machine: t72 · r5 · c15 · span 349397–349404 |
| 14 | Section 08, Roberto A. Verrone | DEF 14A | 2026-04-30 | 0001437749-26-014021 | Section “Director Compensation”. As printed: 105,158. Filing ↗machine: t72 · r6 · c15 · span 351850–351857 |
| 15 | Section 08, David Bistricer | DEF 14A | 2026-04-30 | 0001437749-26-014021 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 16 | Section 02, Sam Levinson 2026-08-12 | Form 4 | 2026-08-14 | 0001539497-26-002267 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 17 | Section 02, Sam Levinson 2026-08-13 | Form 4 | 2026-08-14 | 0001539497-26-002267 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 18 | Section 02, Sam Levinson 2026-08-14 | Form 4 | 2026-08-14 | 0001539497-26-002267 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 19 | Section 02, Sam Levinson 2026-08-18 | Form 4 | 2026-08-20 | 0001539497-26-002324 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 20 | Section 02, Sam Levinson 2026-08-19 | Form 4 | 2026-08-20 | 0001539497-26-002324 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 21 | Section 02, Sam Levinson 2026-08-20 | Form 4 | 2026-08-20 | 0001539497-26-002324 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 22 | Section 02, Sam Levinson 2026-08-31 | Form 4 | 2026-09-02 | 0001539497-26-002446 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 23 | Section 02, Sam Levinson 2026-09-01 | Form 4 | 2026-09-02 | 0001539497-26-002446 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 24 | Section 02, Sam Levinson 2026-09-02 | Form 4 | 2026-09-02 | 0001539497-26-002446 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 25 | Section 02, Sam Levinson 2026-09-08 | Form 4 | 2026-09-10 | 0001539497-26-002474 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 26 | Section 02, Sam Levinson 2026-09-09 | Form 4 | 2026-09-10 | 0001539497-26-002474 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 27 | Section 02, Sam Levinson 2026-09-14 | Form 4 | 2026-09-16 | 0001539497-26-002522 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 28 | Section 02, Sam Levinson 2026-09-15 | Form 4 | 2026-09-16 | 0001539497-26-002522 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 29 | Section 02, Sam Levinson 2026-09-23 | Form 4 | 2026-09-25 | 0001539497-26-002601 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 30 | Section 02, Sam Levinson 2026-09-24 | Form 4 | 2026-09-25 | 0001539497-26-002601 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 31 | Section 02, Jacob Bistricer 2026-09-28 | Form 4 | 2026-09-30 | 0001437749-26-031626 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 32 | Section 02, Jacob Bistricer 2026-09-28 | Form 4 | 2026-09-30 | 0001437749-26-031626 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 33 | Section 02, David Bistricer 2026-09-30 | Form 4 | 2026-10-02 | 0001437749-26-031939 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 34 | Section 02, David Bistricer 2026-09-30 | Form 4 | 2026-10-02 | 0001437749-26-031939 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 35 | Section 02, David Bistricer 2026-09-30 | Form 4 | 2026-10-02 | 0001437749-26-031939 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 36 | Section 02, Sam Levinson 2026-09-30 | Form 4 | 2026-10-02 | 0001539497-26-002629 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 37 | Section 02, Sam Levinson 2026-09-30 | Form 4 | 2026-10-02 | 0001539497-26-002629 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 38 | Section 02, Sam Levinson 2026-09-30 | Form 4 | 2026-10-02 | 0001539497-26-002629 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 39 | Section 02, David Bistricer 2026-09-30 | Form 4 | 2026-10-02 | 0001437749-26-031939 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 40 | Section 02, David Bistricer 2026-09-30 | Form 4 | 2026-10-02 | 0001437749-26-031939 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 41 | Section 06, 2026 vote | Form 8-K | 2026-06-18 | 0001437749-26-021171 | Item 5.07 · say-on-pay result. As reported: 98.25% (votes for as printed: 30,337,150). Filing ↗ |
| 42 | Section 06, 2023 vote | Form 8-K | 2023-06-15 | 0001437749-23-017575 | Item 5.07 · say-on-pay result. As reported: 96.44% (votes for as printed: 34,002,074). Filing ↗ |
| 43 | Section 01 trend, Δ column (computed) | Computed | — | — | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 44 | Section 03b vehicle mix (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 |
| 45 | Section 09b board cost (computed) | Computed | — | — | Cash 405,000 + equity 889,850 + all other 628,848 = 1,923,698, summed across the director compensation table rows.machine: formula: Σ = 1,923,698 |
| 46 | Clipper Realty Inc. (subject), Section 10b CEO total | DEF 14A | 2026-04-30 | 0001437749-26-014021 | CEO total compensation as printed in Clipper Realty Inc.'s own proxy. As printed: 2,047,372. Filing ↗machine: span 239614–239623 |
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