Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-06-03

Douglas Emmett Inc. (DEI)

CEO Jordan Kaplan was paid $9,012,069 in fiscal year 2025, ↓ down 0.8% from fiscal year 2024, the 60th percentile of its disclosed peer group (SEC filing 0001364250-26-000020 ↗): 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.

$9,012,069 ↓
Jordan Kaplan total, FY2025
60th
CEO pay percentile vs peers
122:1
CEO-to-median pay ratio
50.01%
Say-on-pay support, latest vote

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DEI's next annual pay disclosure, estimated April 16, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Jordan Kaplan$800,000$0$8,170,000$0$0$0$42,069$9,012,069
Chairman of the Board and Chief Executive Officer
Kenneth Panzer800,00008,170,00000035,4809,005,480
President and Chief Operating Officer
Peter Seymour550,00001,750,21800013,0002,313,218
Chief Financial Officer
Michele Aronson450,00001,820,22700013,0002,283,227
Executive Vice President, General Counsel and Secretary
Kevin Crummy600,000150,0001,015,13100013,0001,778,131
Chief Investment 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
Jordan Kaplan$9,012,069$9,083,361$8,238,984↓ −71,292
Kenneth Panzer9,005,4809,086,3738,232,390↓ −80,893
Peter Seymour2,313,2182,155,8511,962,604↑ +157,367
Michele Aronson2,283,2272,038,3531,862,604↑ +244,874
Kevin Crummy1,778,1312,143,2922,142,623↓ −365,161

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

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$9,012,069 Jordan Kaplan total, FY2025

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Data as of June 3, 2026 · Source: 0001364250-26-000020 · Velarion Executive Compensation Database, deposited on Zenodo (doi:10.5281/zenodo.22283855).

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01c

Board of directors

One page per director: the seat, the committees and the fee table, read for one person at a time.

DirectorRoleFY2025 total
Andy CohenIndependent Director—
Dorene C. DominguezIndependent Director$169,102
Leslie E. BiderIndependent Director$180,638
Shirley WangIndependent Director$169,102
Thomas E. O'HernLead Independent Director$186,397
Virginia A. McFerranIndependent Director$180,638
William E. Simon, JrIndependent Director$169,102
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 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Jordan KaplanRSU2025-12-15——1,000,000—$8,170,000
Peter SeymourRSU2025-12-15——214,225—1,750,218
Michele AronsonRSU2025-12-15——222,794—1,820,227
Kenneth PanzerRSU2025-12-15——1,000,000—8,170,000
Kevin CrummyRSU2025-12-15——124,251—1,015,131
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Jordan Kaplan$8,170,000$0$00.0%
Peter Seymour1,750,218000.0%
Michele Aronson1,820,227000.0%
Kenneth Panzer8,170,000000.0%
Kevin Crummy1,015,131000.0%

% 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
Kevin CrummyRSU173,287—$1,904,424
Jordan KaplanRSU490,924—5,395,255
Peter SeymourRSU251,959—2,769,029
Kenneth PanzerRSU490,924—5,395,255
Michele AronsonRSU257,752—2,832,694
Kevin CrummyRSU116,769—1,283,291
Kenneth PanzerRSU901,100—9,903,089
Jordan KaplanRSU901,100—9,903,089
Michele AronsonRSU149,087—1,638,466
Peter SeymourRSU147,262—1,618,409
05

Incentive-plan design — the Compensation Discussion & Analysis

The Compensation Committee designs compensation programs to reflect pay-for-performance, rewarding NEOs based on their performance against predetermined goals. The overwhelming majority of compensation (91% for CEO and COO in 2025) is paid in the form of long-term restricted equity (LTIP Units) that is contingent on future stock price performance, with minimal cash compensation. The program avoids mechanical formulas, discourages excessive risk-taking, and targets compensation at the appropriate percentile of the Benchmark Group based on performance ratings.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultantFTI Consulting, Inc.
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingfalse
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-2868,214,21868,195,746141,85850.01%Passed
20252025-05-29121,018,73218,049,9525,374,62387.02%Passed
20242024-05-30108,198,77134,827,039354,60375.65%Passed
20232023-05-2481,384,80270,952,4332,103,09653.42%Passed
20222022-05-26111,179,31247,881,446118,78469.9%Passed
20212021-05-27138,489,10421,722,92247,97986.44%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.

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

Meeting yearMeeting dateApproval — company's computation
20262026-05-2850.01%a
20252025-05-2987.02%b
20242024-05-3075.65%c

a. Approved under the standard stated in the filing — “Abstentions and broker non-votes will not have any effect on the outcome of this proposal because they are not treated as votes cast, although abstentions and broker non-votes will be considered present for the purpose of determining the presence of a quorum.”.

b. Approved under the standard stated in the filing — “Abstentions will not have any effect on the outcome of this proposal because they are not treated as votes cast, although abstentions will be considered present for the purpose of determining the presence of a quorum.”.

c. Approved under the standard stated in the filing — “Abstentions will not have any effect on the outcome of this proposal because they are not treated as votes cast, although abstentions will be considered present for the purpose of determining the presence of a quorum.”.

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)122 : 1
CEO total compensation$9,012,069
Median employee compensation$73,674
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Thomas E. O'HernIndependent · Lead Independent Director · Audit (Chair)$0$186,397$0—$0$186,397
Virginia A. McFerranIndependent · Nominating and Corporate Governance (Chair)0180,6380—0180,638
Leslie E. BiderIndependent · Audit · Compensation (Chair) · Not standing for re-election0180,6380—0180,638
William E. Simon, JrIndependent · Compensation · Nominating and Corporate Governance0169,102000169,102
Dorene C. DominguezIndependent · Audit · Nominating and Corporate Governance0169,1020—0169,102
Shirley WangIndependent · Compensation0169,1020—0169,102
Andy CohenIndependent · Partial-year service · Newly elected000—00
Jordan L. KaplanEmployee director · Board Chair000—00
Kenneth M. PanzerEmployee director000—00
09

Board fee structure and ownership guideline

Annual cash retainer$0
Annual equity retainer$220,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)22,500 / 15,000 / 15,000
Stock ownership guideline3x retainer
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$0
Equity awards (grant-date value)$1,054,979
All other compensation$0
Total cost of the board$1,054,979

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

10

Disclosed peer group — fiscal year 2025

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 Douglas Emmett 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 Douglas Emmett Inc..

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
1BXP, Inc.2025Owen Thomas$950,000$19,317,943$0$2,758,900$23,047,305
2SL Green Realty Corp.2025Marc Holliday1,400,00014,271,65601,639,39017,356,826
3Empire State Realty Trust, Inc.2025Anthony Malkin896,9239,422,6970012,669,394
4UDR, Inc.2025Thomas Toomey900,0009,010,120009,933,438
5Douglas Emmett Inc.2025Jordan Kaplan800,0008,170,000009,012,069
6Alexandria Real Estate Equities, Inc.2025Peter Moglia840,0006,106,50201,890,0008,844,053
7Kilroy Realty Corporation2025Angela Aman820,0004,433,57701,801,8507,072,527
8Piedmont Office Realty Trust, Inc.2025C. Brent Smith710,0003,766,34201,250,0005,757,342
9JBG SMITH Properties, Inc.2025W. Matthew Kelly750,0003,499,994——5,521,861
10Vornado Realty Trust2025Steven Roth1,000,0000003,135,628
11Hudson Pacific Properties, Inc.2025Victor Coleman1,000,000356,326—02,766,883

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
Douglas Emmett Inc.not disclosedLTIP Units 100Yes — Total Shareholder Return (TSR)FTI Consulting, Inc.
Alexandria Real Estate Equities, Inc.not disclosedPSU 50 · RSU 50Yes — Absolute TSRFTI Consulting, Inc.
BXP, Inc.117.4%PSU 55 · RSU 45Yes — Relative TSR with aTSR ModifierFW Cook
Empire State Realty Trust, Inc.164%PSU 55 · LTIP Units 45Yes — TSR performance relative to the Nareit Office IndexFerguson Partners Consulting
Hudson Pacific Properties, Inc.not disclosedLTIP Units 50 · PSU 50Yes — Relative TSR vs. Nareit Office IndexFerguson Partners Consulting (FPC)
JBG SMITH Properties, Inc.168%LTIP Units 10Yes — Relative TSRFerguson Partners Consulting
Kilroy Realty Corporation125.6%PSU 75 · RSU 25Yes — TSR Percentile RankingKorn Ferry
Piedmont Office Realty Trust, Inc.117%PSU 60 · RSU 40Yes — Total Shareholder Return (TSR) relative to peersFerguson Partners Consulting L.P.
SL Green Realty Corp.not disclosedPSU 67 · RSU 33Yes — Office REIT Peers TSRFerguson Partners
UDR, Inc.not disclosedPSU 100Yes — Relative cumulative TSR versus apartment peersFPL Associates
Vornado Realty Trust168%PSU 100Yes — Relative TSR vs LTPP Peer GroupFTI Consulting, Inc.

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.

10d

Frequently asked questions

Who was the highest-paid executive at Douglas Emmett Inc. in fiscal 2025?
As disclosed, Jordan Kaplan (Chairman of the Board and Chief Executive Officer) was the highest-paid executive at Douglas Emmett Inc. in fiscal 2025, with total compensation of $9,012,069.
How does Douglas Emmett Inc.'s chief executive pay compare to its disclosed peer group?
As disclosed, Jordan Kaplan's total compensation ranked at the 60th percentile of Douglas Emmett Inc.'s disclosed peer group.
What is Douglas Emmett Inc.'s CEO-to-median employee pay ratio?
As disclosed, Douglas Emmett Inc.'s CEO-to-median employee pay ratio was 122:1.
How did shareholders vote on Douglas Emmett Inc.'s executive compensation?
As disclosed, 50.01% of shareholders supported Douglas Emmett Inc.'s executive compensation in the latest say-on-pay vote.
How much does Douglas Emmett Inc. spend in total on board compensation for fiscal 2025?
As disclosed, Douglas Emmett Inc. reported total board compensation of $1,054,979 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, Jordan KaplanDEF 14A2026-04-170001364250-26-000020Section “2025 Summary Compensation Table”. As printed: 9,012,069. Filing ↗machine: span 506518–506527
2Section 01, Kenneth PanzerDEF 14A2026-04-170001364250-26-000020Section “2025 Summary Compensation Table”. As printed: 9,005,480. Filing ↗machine: span 519517–519526
3Section 01, Peter SeymourDEF 14A2026-04-170001364250-26-000020Section “2025 Summary Compensation Table”. As printed: 2,313,218. Filing ↗machine: span 545612–545621
4Section 01, Michele AronsonDEF 14A2026-04-170001364250-26-000020Section “2025 Summary Compensation Table”. As printed: 2,283,227. Filing ↗machine: span 558553–558562
5Section 01, Kevin CrummyDEF 14A2026-04-170001364250-26-000020Section “2025 Summary Compensation Table”. As printed: 1,778,131. Filing ↗machine: span 532673–532682
6Section 03, Jordan Kaplan RSUDEF 14A1900-01-010001364250-26-000020Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 582007–582016
7Section 03, Peter Seymour RSUDEF 14A1900-01-010001364250-26-000020Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 587619–587628
8Section 03, Michele Aronson RSUDEF 14A1900-01-010001364250-26-000020Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 589491–589500
9Section 03, Kenneth Panzer RSUDEF 14A1900-01-010001364250-26-000020Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 583880–583889
10Section 03, Kevin Crummy RSUDEF 14A1900-01-010001364250-26-000020Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 585749–585758
11Section 07, pay ratioDEF 14A2026-04-170001364250-26-000020Section “CEO Pay Ratio”. As printed: 122 : 1. Filing ↗machine: span 639944–639949
12Section 08, Thomas E. O'HernDEF 14A2026-04-170001364250-26-000020Section “Director Compensation”. As printed: 186,397. Filing ↗machine: t42 · r6 · c4 · span 755503–755510
13Section 08, Virginia A. McFerranDEF 14A2026-04-170001364250-26-000020Section “Director Compensation”. As printed: 180,638. Filing ↗machine: t42 · r5 · c4 · span 753170–753177
14Section 08, Leslie E. BiderDEF 14A2026-04-170001364250-26-000020Section “Director Compensation”. As printed: 180,638. Filing ↗machine: t42 · r3 · c4 · span 748500–748507
15Section 08, William E. Simon, JrDEF 14A2026-04-170001364250-26-000020Section “Director Compensation”. As printed: 169,102. Filing ↗machine: t42 · r7 · c4 · span 757841–757848
16Section 08, Dorene C. DominguezDEF 14A2026-04-170001364250-26-000020Section “Director Compensation”. As printed: 169,102. Filing ↗machine: t42 · r4 · c4 · span 750833–750840
17Section 08, Shirley WangDEF 14A2026-04-170001364250-26-000020Section “Director Compensation”. As printed: 169,102. Filing ↗machine: t42 · r8 · c4 · span 760170–760177
18Section 08, Andy CohenDEF 14A2026-04-170001364250-26-000020Section “Director Compensation”. As printed: 0. Filing ↗
19Section 08, Jordan L. KaplanDEF 14A2026-04-170001364250-26-000020Section “Director Compensation”. As printed: 0. Filing ↗
20Section 08, Kenneth M. PanzerDEF 14A2026-04-170001364250-26-000020Section “Director Compensation”. As printed: 0. Filing ↗
21Section 06, 2026 voteForm 8-K2026-06-030001364250-26-000034Item 5.07 · say-on-pay result. As reported: 50.01% (votes for as printed: 68,214,218). Filing ↗
22Section 06, 2025 voteForm 8-K2025-06-020001364250-25-000030Item 5.07 · say-on-pay result. As reported: 87.02% (votes for as printed: 121,018,732). Filing ↗
23Section 06, 2024 voteForm 8-K2024-06-030001364250-24-000030Item 5.07 · say-on-pay result. As reported: 75.65% (votes for as printed: 108,198,771). Filing ↗
24Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
25Section 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
26Section 09b board cost (computed)Computed——Cash 0 + equity 1,054,979 + all other 0 = 1,054,979, summed across the director compensation table rows.machine: formula: Σ = 1,054,979
27BXP, Inc., Section 10b CEO totalDEF 14A2026-04-100001037540-26-000010CEO total compensation as printed in BXP, Inc.'s own proxy. As printed: 23,047,305. Filing ↗machine: span 1785714–1785724
28SL Green Realty Corp., Section 10b CEO totalDEF 14A2026-04-220001104659-26-046866CEO total compensation as printed in SL Green Realty Corp.'s own proxy. As printed: 17,356,826. Filing ↗machine: span 1592570–1592580
29Empire State Realty Trust, Inc., Section 10b CEO totalDEF 14A2026-04-020001104659-26-038890CEO total compensation as printed in Empire State Realty Trust, Inc.'s own proxy. As printed: 12,669,394. Filing ↗machine: r1 · c18 · span 1693420–1693430
30UDR, Inc., Section 10b CEO totalDEF 14A2026-04-020000074208-26-000037CEO total compensation as printed in UDR, Inc.'s own proxy. As printed: 9,933,438. Filing ↗machine: t322 · r11 · c18 · span 3007170–3007179
31Douglas Emmett Inc. (subject), Section 10b CEO totalDEF 14A2026-04-170001364250-26-000020CEO total compensation as printed in Douglas Emmett Inc.'s own proxy. As printed: 9,012,069. Filing ↗machine: span 506518–506527
32Alexandria Real Estate Equities, Inc., Section 10b CEO totalDEF 14A2026-04-010001035443-26-000031CEO total compensation as printed in Alexandria Real Estate Equities, Inc.'s own proxy. As printed: 8,844,053. Filing ↗machine: r6 · c19 · span 3171042–3171051
33Kilroy Realty Corporation, Section 10b CEO totalDEF 14A2026-04-090001193125-26-149727CEO total compensation as printed in Kilroy Realty Corporation's own proxy. As printed: 7,072,527. Filing ↗machine: r4 · c27 · span 996331–996340
34Piedmont Office Realty Trust, Inc., Section 10b CEO totalDEF 14A2026-03-180001174947-26-000393CEO total compensation as printed in Piedmont Office Realty Trust, Inc.'s own proxy. As printed: 5,757,342. Filing ↗machine: r1 · c6 · span 848772–848781
35JBG SMITH Properties, Inc., Section 10b CEO totalDEF 14A2026-03-180001104659-26-030932CEO total compensation as printed in JBG SMITH Properties, Inc.'s own proxy. As printed: 5,521,861. Filing ↗
36Vornado Realty Trust, Section 10b CEO totalDEF 14A2026-04-070001104659-26-040386CEO total compensation as printed in Vornado Realty Trust's own proxy. As printed: 3,135,628. Filing ↗machine: t140 · r1 · c54 · span 1243172–1243181
37Hudson Pacific Properties, Inc., Section 10b CEO totalDEF 14A2026-04-230001104659-26-047885CEO total compensation as printed in Hudson Pacific Properties, Inc.'s own proxy. As printed: 2,766,883. Filing ↗
38Section 10a, Alexandria Real Estate Equities, Inc. reciprocityDEF 14A—0001035443-26-000031Alexandria Real Estate Equities, Inc.'s most recent proxy was read; its disclosed peer group does not include Douglas Emmett Inc.. Filing ↗
39Section 10a, BXP, Inc. reciprocityDEF 14A—0001037540-26-000010BXP, Inc. names Douglas Emmett Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
40Section 10a, Hudson Pacific Properties, Inc. reciprocityDEF 14A—0001104659-26-047885Hudson Pacific Properties, Inc. names Douglas Emmett Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
41Section 10a, Kilroy Realty Corporation reciprocityDEF 14A—0001193125-26-149727Kilroy Realty Corporation names Douglas Emmett Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
42Section 10a, SL Green Realty Corp. reciprocityDEF 14A—0001104659-26-046866SL Green Realty Corp.'s most recent proxy was read; its disclosed peer group does not include Douglas Emmett Inc.. Filing ↗
43Section 10a, UDR, Inc. reciprocityDEF 14A—0000074208-26-000037UDR, Inc.'s most recent proxy was read; its disclosed peer group does not include Douglas Emmett Inc.. Filing ↗
44Section 10a, Vornado Realty Trust reciprocityDEF 14A—0001104659-26-040386Vornado Realty Trust names Douglas Emmett Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
45Section 10a, Piedmont Office Realty Trust, Inc. reciprocityDEF 14A—0001174947-26-000393Piedmont Office Realty Trust, Inc.'s most recent proxy was read; its disclosed peer group does not include Douglas Emmett Inc.. Filing ↗
46Section 10a, JBG SMITH Properties, Inc. reciprocityDEF 14A—0001104659-26-030932JBG SMITH Properties, Inc. names Douglas Emmett Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗

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