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

Douglas Emmett Inc. (DEI)

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.

$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
Companies that benchmark against DEI
16 companies name DEI as a compensation peer

Each company listed discloses DEI 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 DEI 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 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 FY20242025
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.

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
Peter SeymourPSU2025-12-04415214,225$1,750,218
Jordan KaplanPSU2025-12-044151,000,0008,170,000
Michele AronsonPSU2025-12-04415222,7941,820,227
Kenneth PanzerPSU2025-12-044151,000,0008,170,000
Kevin CrummyPSU2025-12-04415124,2511,015,131
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Peter Seymour$0$1,750,218$0100.0%
Jordan Kaplan08,170,0000100.0%
Michele Aronson01,820,2270100.0%
Kenneth Panzer08,170,0000100.0%
Kevin Crummy01,015,1310100.0%

% 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 KaplanRSU490,9245,395,255
Peter SeymourRSU251,9592,769,029
Kenneth PanzerRSU490,9245,395,255
Michele AronsonRSU257,7522,832,694
Kevin CrummyRSU116,7691,283,291
Kenneth PanzerRSU901,1009,903,089
Jordan KaplanRSU901,1009,903,089
Michele AronsonRSU149,0871,638,466
Peter SeymourRSU147,2621,618,409
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
Leslie E. BiderIndependent · Audit · Compensation (Chair) · Not standing for re-election0180,63800180,638
Virginia A. McFerranIndependent · Nominating and Corporate Governance (Chair)0180,63800180,638
Dorene C. DominguezIndependent · Audit · Nominating and Corporate Governance0169,10200169,102
Shirley WangIndependent · Compensation0169,10200169,102
William E. Simon, JrIndependent · Compensation · Nominating and Corporate Governance0169,102000169,102
William E. Simon JrIndependent · Compensation · Nominating and Corporate Governance0169,10200169,102
Jordan L. KaplanEmployee director · Board Chair00000
Kenneth M. PanzerEmployee director00000
Andy CohenIndependent · Partial-year service · Newly elected00000
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)$1,224,081
All other compensation$0
Total cost of the board$1,224,081

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 Kelly750,0003,499,99401,260,0005,521,861
10Vornado Realty Trust2025Steven Roth1,000,000001,760,0673,135,628
11Hudson Pacific Properties, Inc.2025Victor Coleman1,000,000356,326002,766,883

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 100not disclosedFTI 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
Hudson Pacific Properties, Inc.140%LTIP Units 50 · PSU 50Yes — Relative TSR vs. Nareit Office IndexFerguson Partners Consulting
JBG SMITH Properties, Inc.168%not disclosedNoFerguson 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.

FAQ

Frequently asked questions

Who was the highest-paid executive at Douglas Emmett Inc. in fiscal 2025?
Jordan Kaplan, serving as 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?
The filing shows that Jordan Kaplan's pay falls within the 60th percentile of the disclosed peer group.
What is Douglas Emmett Inc.'s CEO-to-median employee pay ratio?
As disclosed, the CEO-to-median employee pay ratio was 122:1.
How did shareholders vote on Douglas Emmett Inc.'s executive compensation?
Shareholders voted 50.01% in favor of the executive compensation plan at the latest Say on Pay vote.
How much does Douglas Emmett Inc. spend in total on board compensation for fiscal 2025?
The company reported total board compensation for fiscal 2025 as $1,224,081.

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, Peter Seymour PSUDEF 14A2026-04-170001364250-26-000020Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t27 · r24 · c14 · span 544387–544396
7Section 03, Jordan Kaplan PSUDEF 14A2026-04-170001364250-26-000020Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t27 · r9 · c14 · span 505293–505302
8Section 03, Michele Aronson PSUDEF 14A2026-04-170001364250-26-000020Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t27 · r29 · c14 · span 557328–557337
9Section 03, Kenneth Panzer PSUDEF 14A2026-04-170001364250-26-000020Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t27 · r14 · c14 · span 518292–518301
10Section 03, Kevin Crummy PSUDEF 14A2026-04-170001364250-26-000020Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t27 · r19 · c14 · span 531448–531457
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, Leslie E. BiderDEF 14A2026-04-170001364250-26-000020Section “Director Compensation”. As printed: 180,638. Filing ↗machine: t42 · r3 · c4 · span 748500–748507
14Section 08, Virginia A. McFerranDEF 14A2026-04-170001364250-26-000020Section “Director Compensation”. As printed: 180,638. Filing ↗machine: t42 · r5 · c4 · span 753170–753177
15Section 08, Dorene C. DominguezDEF 14A2026-04-170001364250-26-000020Section “Director Compensation”. As printed: 169,102. Filing ↗machine: t42 · r4 · c4 · span 750833–750840
16Section 08, Shirley WangDEF 14A2026-04-170001364250-26-000020Section “Director Compensation”. As printed: 169,102. Filing ↗machine: t42 · r8 · c4 · span 760170–760177
17Section 08, William E. Simon, JrDEF 14A2026-04-170001364250-26-000020Section “Director Compensation”. As printed: 169,102. Filing ↗machine: t42 · r7 · c4 · span 757841–757848
18Section 08, William E. Simon JrDEF 14A2026-04-170001364250-26-000020Section “Director Compensation”. As printed: 169,102. Filing ↗machine: t42 · r7 · c4 · span 757841–757848
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 08, Andy CohenDEF 14A2026-04-170001364250-26-000020Section “Director Compensation”. As printed: 0. Filing ↗
22Section 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 ↗
23Section 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 ↗
24Section 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 ↗
25Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
26Section 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
27Section 09b board cost (computed)ComputedcomputedCash 0 + equity 1,224,081 + all other 0 = 1,224,081, summed across the director compensation table rows.machine: formula: Σ = 1,224,081
28BXP, 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
29SL 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
30Empire 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
31UDR, 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
32Douglas 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
33Alexandria 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
34Kilroy 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
35Piedmont 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
36JBG 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 ↗machine: t286 · r3 · c17 · span 1302909–1302918
37Vornado 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
38Hudson 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 ↗machine: t204 · r7 · c14 · span 1248681–1248690
39Section 10a, Alexandria Real Estate Equities, Inc. reciprocityDEF 14A0001035443-26-000031Alexandria Real Estate Equities, Inc.'s most recent proxy was read; its disclosed peer group does not include Douglas Emmett Inc.. Filing ↗
40Section 10a, Hudson Pacific Properties, Inc. reciprocityDEF 14A0001104659-26-047885Hudson Pacific Properties, Inc. names Douglas Emmett Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
41Section 10a, Piedmont Office Realty Trust, Inc. reciprocityDEF 14A0001174947-26-000393Piedmont Office Realty Trust, Inc.'s most recent proxy was read; its disclosed peer group does not include Douglas Emmett Inc.. Filing ↗
42Section 10a, Vornado Realty Trust reciprocityDEF 14A0001104659-26-040386Vornado Realty Trust names Douglas Emmett Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
43Section 10a, Kilroy Realty Corporation reciprocityDEF 14A0001193125-26-149727Kilroy Realty Corporation names Douglas Emmett Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
44Section 10a, BXP, Inc. reciprocityDEF 14A0001037540-26-000010BXP, Inc. names Douglas Emmett Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
45Section 10a, SL Green Realty Corp. reciprocityDEF 14A0001104659-26-046866SL Green Realty Corp.'s most recent proxy was read; its disclosed peer group does not include Douglas Emmett Inc.. Filing ↗
46Section 10a, UDR, Inc. reciprocityDEF 14A0000074208-26-000037UDR, Inc.'s most recent proxy was read; its disclosed peer group does not include Douglas Emmett Inc.. Filing ↗
47Section 10a, JBG SMITH Properties, Inc. reciprocityDEF 14A0001104659-26-030932JBG SMITH Properties, Inc. names Douglas Emmett Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗