Velarion · Company Intelligence
Compensation Brief
Fiscal year 2021 · Filings through 2026-04-20

CatchMark Timber Trust (CTT)

Fiscal year 2021 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.

$2,047,204
Brian Davis total, FY2021
14th
CEO pay percentile vs peers
CEO-to-median pay ratio
98.19%
Say-on-pay support, latest vote
Companies that benchmark against CTT
1 company names CTT as a compensation peer

Each company listed discloses CTT 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 CTT 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 2021

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Brian Davis$515,000$0$925,000$0$515,354$0$91,850$2,047,204
Chief Executive Officer and President
Todd Reitz381,0000475,0000254,175022,4991,132,674
Chief Resources Officer and Senior Vice President
Lesley Solomon345,0000406,2500138,095018,810908,155
General Counsel and Secretary
Ursula Godoy-Arbelaez300,0000310,0000200,138019,310829,448
Chief Financial Officer, Senior Vice President 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 officerFY2021 totalFY2020 totalFY2019 totalΔ FY20202021
Brian Davis$2,047,204
Todd Reitz1,132,674
Lesley Solomon908,155
Ursula Godoy-Arbelaez829,448

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

No insider equity transactions reported since the proxy statement.

03

Grants of plan-based awards — fiscal year 2021

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Todd ReitzRSU2021-03-1117,431$190,000
Lesley SolomonPSU2021-03-1140,625243,750487,500243,750
Ursula Godoy-ArbelaezPSU2021-03-1131,000186,000372,000186,000
Brian DavisPSU2021-03-1192,500555,0001,110,000555,000
Brian DavisRSU2021-03-1133,945370,000
Ursula Godoy-ArbelaezRSU2021-03-1111,376124,000
Lesley SolomonRSU2021-03-1114,908162,500
Todd ReitzPSU2021-03-1147,500285,000570,000285,000
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Todd Reitz$190,000$285,000$060.0%
Lesley Solomon162,500243,750060.0%
Ursula Godoy-Arbelaez124,000186,000060.0%
Brian Davis370,000555,000060.0%

% 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 2021

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Todd ReitzRSU8,060$70,203
Brian DavisRSU4,92442,888
Todd ReitzRSU11,08996,585
Lesley SolomonRSU14,908129,849
Brian DavisPSU7,38964,356
Todd ReitzPSU3,42829,859
Lesley SolomonPSU3,42829,859
Lesley SolomonPSU3,24528,264
Ursula Godoy-ArbelaezPSU2,47621,567
Lesley SolomonRSU2,09118,213
Todd ReitzRSU1,0058,754
Lesley SolomonRSU529,2591,970,810
Brian DavisRSU33,945295,661
Brian DavisRSU12,323107,333
Lesley SolomonRSU11,08996,585
Ursula Godoy-ArbelaezRSU9,00078,390
Lesley SolomonRSU8,06070,203
Brian DavisPSU7,80567,986
Ursula Godoy-ArbelaezRSU2,25019,958
Ursula Godoy-ArbelaezPSU1,75815,312
Ursula Godoy-ArbelaezRSU8,53074,296
Brian DavisRSU25,250219,928
Ursula Godoy-ArbelaezRSU1,1379,904
Todd ReitzRSU17,431151,824
05

Incentive-plan design — the Compensation Discussion & Analysis

We seek to maintain a total compensation package that provides competitive compensation for our executives while also permitting us the flexibility to differentiate pay based on actual performance. We place significant emphasis on annual and long-term performance-based incentive compensation, including cash and equity-based incentives, designed to reward our executives based on the achievement of predetermined corporate performance measures.

CEO STI target (% of salary)75%
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
20212021-06-2435,439,917654,791161,09198.19%Passed
20202020-06-2419,542,38714,200,819955,59557.92%Passed
20192019-06-2733,437,7972,547,359159,03992.92%Passed
20182018-06-2630,195,7372,880,166141,11291.29%Passed
20172017-06-2322,397,2511,036,451145,28595.58%Passed
20162016-06-2424,094,607563,407104,83697.72%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
20212021-06-2498.19%a
20202020-06-2457.92%b
20192019-06-2792.92%c

a. Approved under the standard stated in the filing — “Abstentions and broker non-votes will not be counted as votes cast for this proposal and therefore will have no effect on the outcome of the proposal.”.

b. Approved under the standard stated in the filing — “Our board of directors has determined that an advisory vote on executive compensation that occurs every year is the most appropriate alternative for our company, and therefore our board of direc Abstentions and broker non-votes will not be counted as votes cast for this proposal and therefore will have no effect on the outcome of the proposal.”.

c. Approved under the standard stated in the filing — “Abstentions and broker non‑votes will not be counted as votes cast for this proposal and therefore will have no effect on the outcome of the 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.

08

Director compensation — fiscal year 2021

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Douglas D. RubensteinIndependent · Board Chair · Compensation · Audit · Nominating and Corporate Governance$106,000$69,998$0$0$0$175,998
Tim E. BentsenIndependent · Audit (Chair) · Finance and Investment68,50069,998000138,498
Mary E. McBrideIndependent · Compensation · Audit · Nominating and Corporate Governance66,00069,998000135,998
James M. DeCosmoIndependent · Nominating and Corporate Governance (Chair) · Finance and Investment60,00069,998000129,998
Paul S. FisherIndependent · Compensation (Chair) · Finance and Investment · Nominating and Corporate Governance60,00069,998000129,998
Brian M. DavisEmployee director · Finance and Investment00000
09

Board fee structure and ownership guideline

Annual cash retainer$50,000
Annual equity retainer$70,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)12,500 / 10,000 / 10,000
Stock ownership guideline4x annual cash retainer
09b

Total cost of the board

ComponentFY2021
Cash retainers and fees$360,500
Equity awards (grant-date value)$349,990
All other compensation$0
Total cost of the board$710,490

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

10

Disclosed peer group — fiscal year 2021

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies CatchMark Timber Trust 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 CatchMark Timber Trust.

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
1Weyerhaeuser Company2025Devin Stockfish$1,300,000$10,155,810$0$2,102,000$13,983,685
2Agree Realty Corporation2025Joel Agree921,8086,923,60803,053,25310,957,876
3Easterly Government Properties, Inc.2025Darrell Crate825,0008,508,5190930,00010,277,519
4CareTrust REIT, Inc.2025David Sedgwick1,000,0001,242,02207,750,00010,002,522
5PotlatchDeltic Corporation2024Eric Cremers925,3853,202,47501,124,3006,304,045
6Rayonier Inc.2025Mark McHugh800,0003,058,12001,475,0015,457,716
7Forestar Group Inc.2025Anthony Oxley500,0002,247,64001,315,6774,188,576
8LTC Properties, Inc.2025Pamela Shelley-Kessler650,0002,250,00001,117,1884,027,538
9UFP Industries, Inc.2025William Schwartz600,7501,633,99501,400,0003,716,568
10Getty Realty Corp.2025Christopher Constant643,1251,875,808003,163,755
11Urstadt Biddle Properties Inc.2022Willing L. Biddle425,3171,900,300002,466,986
12Community Healthcare Trust Incorporated2025David Dupuy666,6681,147,5020620,0012,448,171
13CatchMark Timber Trust2021Brian Davis515,000925,0000515,3542,047,204
14One Liberty Properties, Inc.2025Patrick Callan1,061,330776,200002,009,253
15St Joe Company2025Jorge Gonzalez611,673308,143001,857,798

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.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
CatchMark Timber Trust133%PSU 60 · RSU 40Yes — Relative TSR vs Composite IndexFerguson Partners Consulting L.P.
Agree Realty Corporation329%PSU 70 · RSU 30NoMeridian
CareTrust REIT, Inc.310%PSU 50 · RSU 50Yes — Relative TSRPearl Meyer
Community Healthcare Trust Incorporated62%PSU 65 · RSU 35Yes — Relative TSR vs. Peer GroupFerguson Partners Consulting
Easterly Government Properties, Inc.78%LTIP Units 100Yes — Absolute TSRFTI Consulting
Forestar Group Inc.not disclosednot disclosedNoLockton Companies
Getty Realty Corp.not disclosedRSU 100not disclosednot disclosed
LTC Properties, Inc.137.5%RSU 50 · PSU 50Yes — Absolute TSRFrederic W. Cook & Co., Inc.
One Liberty Properties, Inc.not disclosedRSU 100Yes — Total Stockholder Return (TSR)Ferguson Partners Consulting L.P.
PotlatchDeltic Corporation97%PSU 60 · RSU 40Yes — Relative TSR vs Performance Peer GroupSemler Brossy
Rayonier Inc.147.5%PSU 50 · RSU 50Yes — Total Shareholder Return (TSR)FW Cook
St Joe Company150%RSU 100not disclosednot disclosed
UFP Industries, Inc.not disclosedRSU 90 · PSU 10Nonot disclosed
Urstadt Biddle Properties Inc.not disclosednot disclosednot disclosedFTI Consulting, Inc.
Weyerhaeuser Companynot disclosednot disclosednot disclosedFW Cook

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.

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, Brian DavisDEF 14A2022-04-150001104659-22-046295Section “Summary Compensation Table” · page 38. As printed: 2,047,204. Filing ↗machine: r1 · c42 · span 911081–911090
2Section 01, Todd ReitzDEF 14A2022-04-150001104659-22-046295Section “Summary Compensation Table” · page 38. As printed: 1,132,674. Filing ↗machine: r6 · c42 · span 939317–939326
3Section 01, Lesley SolomonDEF 14A2022-04-150001104659-22-046295Section “Summary Compensation Table” · page 38. As printed: 908,155. Filing ↗machine: r9 · c42 · span 955926–955933
4Section 01, Ursula Godoy-ArbelaezDEF 14A2022-04-150001104659-22-046295Section “Summary Compensation Table” · page 38. As printed: 829,448. Filing ↗machine: r4 · c42 · span 927850–927857
5Section 03, Todd Reitz RSUDEF 14A2022-04-150001104659-22-046295Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t50 · r10 · c51 · span 1054375–1054382
6Section 03, Lesley Solomon PSUDEF 14A2022-04-150001104659-22-046295Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t50 · r12 · c33 · span 1066212–1066219
7Section 03, Ursula Godoy-Arbelaez PSUDEF 14A2022-04-150001104659-22-046295Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t50 · r6 · c33 · span 1025082–1025089
8Section 03, Brian Davis PSUDEF 14A2022-04-150001104659-22-046295Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t50 · r3 · c33 · span 1004499–1004506
9Section 03, Brian Davis RSUDEF 14A2022-04-150001104659-22-046295Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t50 · r4 · c51 · span 1013238–1013245
10Section 03, Ursula Godoy-Arbelaez RSUDEF 14A2022-04-150001104659-22-046295Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t50 · r7 · c51 · span 1033819–1033826
11Section 03, Lesley Solomon RSUDEF 14A2022-04-150001104659-22-046295Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t50 · r13 · c51 · span 1074811–1074818
12Section 03, Todd Reitz PSUDEF 14A2022-04-150001104659-22-046295Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t50 · r9 · c33 · span 1045648–1045655
13Section 08, Douglas D. RubensteinDEF 14A2022-04-150001104659-22-046295Section “Director Compensation”. As printed: 175,998. Filing ↗machine: t15 · r5 · c18 · span 365552–365559
14Section 08, Tim E. BentsenDEF 14A2022-04-150001104659-22-046295Section “Director Compensation”. As printed: 138,498. Filing ↗machine: t15 · r1 · c18 · span 354461–354468
15Section 08, Mary E. McBrideDEF 14A2022-04-150001104659-22-046295Section “Director Compensation”. As printed: 135,998. Filing ↗machine: t15 · r4 · c18 · span 362774–362781
16Section 08, James M. DeCosmoDEF 14A2022-04-150001104659-22-046295Section “Director Compensation”. As printed: 129,998. Filing ↗machine: t15 · r2 · c18 · span 357233–357240
17Section 08, Paul S. FisherDEF 14A2022-04-150001104659-22-046295Section “Director Compensation”. As printed: 129,998. Filing ↗machine: t15 · r3 · c18 · span 360003–360010
18Section 08, Brian M. DavisDEF 14A2022-04-150001104659-22-046295Section “Director Compensation”. As printed: 0. Filing ↗
19Section 06, 2021 voteForm 8-K2021-06-250001341141-21-000043Item 5.07 · say-on-pay result. As reported: 98.19% (votes for as printed: 6,581,535). Filing ↗machine: span 3912–3921
20Section 06, 2020 voteForm 8-K2020-06-300001341141-20-000063Item 5.07 · say-on-pay result. As reported: 57.92% (votes for as printed: 6,436,259). Filing ↗machine: span 3643–3652
21Section 06, 2019 voteForm 8-K2019-06-270001341141-19-000041Item 5.07 · say-on-pay result. As reported: 92.92%. Filing ↗
22Section 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
23Section 09b board cost (computed)ComputedcomputedCash 360,500 + equity 349,990 + all other 0 = 710,490, summed across the director compensation table rows.machine: formula: Σ = 710,490
24Weyerhaeuser Company, Section 10b CEO totalDEF 14A2026-04-010001140361-26-012453CEO total compensation as printed in Weyerhaeuser Company's own proxy. As printed: 13,983,685. Filing ↗
25Agree Realty Corporation, Section 10b CEO totalDEF 14A2026-04-020000917251-26-000031CEO total compensation as printed in Agree Realty Corporation's own proxy. As printed: 10,957,876. Filing ↗machine: t90 · r2 · c21 · span 720296–720306
26Easterly Government Properties, Inc., Section 10b CEO totalDEF 14A2026-03-230001622194-26-000008CEO total compensation as printed in Easterly Government Properties, Inc.'s own proxy. As printed: 10,277,519. Filing ↗machine: t32 · r4 · c14 · span 1314670–1314680
27CareTrust REIT, Inc., Section 10b CEO totalDEF 14A2026-03-130001628280-26-017386CEO total compensation as printed in CareTrust REIT, Inc.'s own proxy. As printed: 10,002,522. Filing ↗machine: r3 · c21 · span 586779–586789
28PotlatchDeltic Corporation, Section 10b CEO totalDEF 14A2025-03-270000950170-25-045827CEO total compensation as printed in PotlatchDeltic Corporation's own proxy. As printed: 6,304,045. Filing ↗machine: r2 · c8 · span 801304–801313
29Rayonier Inc., Section 10b CEO totalDEF 14A2026-04-010000052827-26-000054CEO total compensation as printed in Rayonier Inc.'s own proxy. As printed: 5,457,716. Filing ↗machine: span 727732–727741
30Forestar Group Inc., Section 10b CEO totalDEF 14A2025-12-160001628280-25-057287CEO total compensation as printed in Forestar Group Inc.'s own proxy. As printed: 4,188,576. Filing ↗machine: r6 · c48 · span 544185–544194
31LTC Properties, Inc., Section 10b CEO totalDEF 14A2026-04-080001104659-26-040921CEO total compensation as printed in LTC Properties, Inc.'s own proxy. As printed: 4,027,538. Filing ↗machine: t203 · r7 · c20 · span 1255138–1255147
32UFP Industries, Inc., Section 10b CEO totalDEF 14A2026-03-090001140361-26-008481CEO total compensation as printed in UFP Industries, Inc.'s own proxy. As printed: 3,716,568. Filing ↗machine: r2 · c19 · span 425236–425246
33Getty Realty Corp., Section 10b CEO totalDEF 14A2026-03-120001140361-26-009218CEO total compensation as printed in Getty Realty Corp.'s own proxy. As printed: 3,163,755. Filing ↗machine: r2 · c28 · span 750236–750245
34Urstadt Biddle Properties Inc., Section 10b CEO totalDEF 14A2023-02-070001206774-23-000158CEO total compensation as printed in Urstadt Biddle Properties Inc.'s own proxy. As printed: 2,466,986. Filing ↗machine: t76 · span 257371–257380
35Community Healthcare Trust Incorporated, Section 10b CEO totalDEF 14A2026-03-120001631569-26-000021CEO total compensation as printed in Community Healthcare Trust Incorporated's own proxy. As printed: 2,448,171. Filing ↗machine: t78 · r5 · c14 · span 606124–606133
36CatchMark Timber Trust (subject), Section 10b CEO totalDEF 14A2022-04-150001104659-22-046295CEO total compensation as printed in CatchMark Timber Trust's own proxy. As printed: 2,047,204. Filing ↗machine: r1 · c42 · span 911081–911090
37One Liberty Properties, Inc., Section 10b CEO totalDEF 14A2026-04-200001140361-26-015499CEO total compensation as printed in One Liberty Properties, Inc.'s own proxy. As printed: 2,009,253. Filing ↗machine: r2 · c18 · span 461230–461239
38St Joe Company, Section 10b CEO totalDEF 14A2026-03-310001140361-26-012328CEO total compensation as printed in St Joe Company's own proxy. As printed: 1,857,798. Filing ↗machine: r2 · c18 · span 439625–439634
39Section 10a, Easterly Government Properties, Inc. reciprocityDEF 14A0001622194-26-000008Easterly Government Properties, Inc.'s most recent proxy was read; its disclosed peer group does not include CatchMark Timber Trust. Filing ↗
40Section 10a, Agree Realty Corporation reciprocityDEF 14A0000917251-26-000031Agree Realty Corporation's most recent proxy was read; its disclosed peer group does not include CatchMark Timber Trust. Filing ↗
41Section 10a, Community Healthcare Trust Incorporated reciprocityDEF 14A0001631569-26-000021Community Healthcare Trust Incorporated's most recent proxy was read; its disclosed peer group does not include CatchMark Timber Trust. Filing ↗
42Section 10a, Forestar Group Inc. reciprocityDEF 14A0001628280-25-057287Forestar Group Inc.'s most recent proxy was read; its disclosed peer group does not include CatchMark Timber Trust. Filing ↗
43Section 10a, PotlatchDeltic Corporation reciprocityDEF 14A0000950170-25-045827PotlatchDeltic Corporation's most recent proxy was read; its disclosed peer group does not include CatchMark Timber Trust. Filing ↗
44Section 10a, LTC Properties, Inc. reciprocityDEF 14A0001104659-26-040921LTC Properties, Inc.'s most recent proxy was read; its disclosed peer group does not include CatchMark Timber Trust. Filing ↗
45Section 10a, Rayonier Inc. reciprocityDEF 14A0000052827-26-000054Rayonier Inc.'s most recent proxy was read; its disclosed peer group does not include CatchMark Timber Trust. Filing ↗
46Section 10a, One Liberty Properties, Inc. reciprocityDEF 14A0001140361-26-015499One Liberty Properties, Inc.'s most recent proxy was read; its disclosed peer group does not include CatchMark Timber Trust. Filing ↗
47Section 10a, UFP Industries, Inc. reciprocityDEF 14A0001140361-26-008481UFP Industries, Inc.'s most recent proxy was read; its disclosed peer group does not include CatchMark Timber Trust. Filing ↗
48Section 10a, Weyerhaeuser Company reciprocityDEF 14A0001140361-26-012453Weyerhaeuser Company's most recent proxy was read; its disclosed peer group does not include CatchMark Timber Trust. Filing ↗
49Section 10a, Getty Realty Corp. reciprocityDEF 14A0001140361-26-009218Getty Realty Corp.'s most recent proxy was read; its disclosed peer group does not include CatchMark Timber Trust. Filing ↗