Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-08-18

Douglas Elliman (DOUG)

CEO Michael Liebowitz was paid $2,300,000 in fiscal year 2025, ↓ down 74.5% from fiscal year 2024, the 21st percentile of its disclosed peer group (SEC filing 0001878897-26-000021 ↗): 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.

$2,300,000 ↓
Michael Liebowitz total, FY2025
21st
CEO pay percentile vs peers
—
CEO-to-median pay ratio
61.99%
Say-on-pay support, latest vote

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DOUG's next annual pay disclosure, estimated April 30, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Michael Liebowitz$800,000$1,500,000$0$0$0$0$0$2,300,000
President and Chief Executive Officer
Bradley Brodie212,596250,000614,37500001,076,971
Senior Vice President, General Counsel and Secretary
J. Bryant Kirkland III621,863390,000000054,2001,066,063
Executive Vice President, Treasurer and 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
Michael Liebowitz$2,300,000$9,027,449—↓ −6,727,449
Bradley Brodie1,076,971———
J. Bryant Kirkland III1,066,0631,360,911497,498↓ −294,848

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 DOUG
1 company names DOUG as a compensation peer

The list of companies that name DOUG as a peer is temporarily unavailable — recheck shortly.

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
David K. CheneChair of the Board$313,534
Lynn MestelFormer director (through FY2025)$116,754
Mark D. ZeitchickLead Independent Director$396,136
Patrick J. Bartels JrIndependent Director$311,034
Perry WeitzIndependent Director$165,474
Ronald J. KramerFormer director (through FY2025)$163,426
Scott D. VogelIndependent Director$122,731
Wilson L. WhiteIndependent Director$209,772
02

Equity transactions since the proxy statement was filed

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.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Bradley BrodieSVP, General Counsel,Secretary2026-08-13D24,593$2$49,370CommonForm 4 ↗
Sanghyun LeeDirector2026-08-14A74,62700CommonForm 4 ↗
Justyn FeldmanDirector2026-08-14A74,62700CommonForm 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.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Bradley BrodiePSU—————$614,375
J. Bryant Kirkland IIIRSU2024-02-29——150,000—274,500
Howard M. LorberRSU2024-02-29——1,325,000—2,424,750
Stephen T. LarkinRSU2024-02-29——50,000—91,500
Richard J. LampenRSU2024-02-29——525,000—960,750
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Bradley Brodie$0$614,375$0100.0%
J. Bryant Kirkland III274,500000.0%
Howard M. Lorber2,424,750000.0%
Stephen T. Larkin91,500000.0%
Richard J. Lampen960,750000.0%

% 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
Michael LiebowitzPSU1,550,000—$3,673,500
Michael LiebowitzRSU1,000,000—2,370,000
Bradley BrodieRSU250,000—592,500
J. Bryant Kirkland IIIRSU150,000—355,500
J. Bryant Kirkland IIIRSU75,000—177,750
05

Incentive-plan design — the Compensation Discussion & Analysis

The compensation and human capital committee's Executive Compensation Philosophy outlines its intent to ensure alignment of pay and performance against annual and long-term goals, provide long-term and short-term incentives that pay out in alignment with stockholder value creation, provide competitive levels of compensation, and attract talented executives and retain them for the benefit of the Company and its subsidiaries.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultantPearl Meyer & Partners LLC
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-06-1834,611,23121,224,4287,954,18361.99%Passed
20252025-06-2541,514,16713,250,7713,067,01975.8%Passed
20242024-08-2148,942,43114,937,168348,69476.62%Passed
20232023-07-2748,420,69718,802,176586,69272.03%Passed
20222022-06-2936,222,55726,034,735493,03258.18%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
20262026-06-1861.99%a
20252025-06-2575.8%b
20242024-08-2176.62%c

a. Approved under the standard stated in the filing — “Abstentions and votes withheld have no effect on any matters presented at the meeting.”.

b. Approved under the standard stated in the filing — “Abstentions and votes withheld have no effect on any matters presented at the meeting.”.

c. Approved under the standard stated in the filing — “Abstentions and votes withheld have no effect on any matters presented at the meeting.”.

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)—
CEO total compensation—
Median employee compensation—
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Perry WeitzIndependent · Audit · Partial-year service · Newly elected$13,628$151,465$0$0$381$165,474
Ronald J. KramerIndependent · Compensation and Human Capital (former Chair) · Departed during FY47,500114,592001,334163,426
Lynn MestelIndependent · Audit (former member) · Corporate Responsibility and Nominating (former member) · Departed during FY42,500114,591002,163116,754
Richard J. LampenNot independent · Not standing for re-election · Departed during FY——00——
09

Board fee structure and ownership guideline

Annual cash retainer$75,000
Annual equity retainer$115,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)10,000
Stock ownership guidelineStock Ownership Guidelines
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$103,628
Equity awards (grant-date value)$380,648
All other compensation$3,878
Total cost of the board$488,154

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
1Douglas Elliman2025Michael Liebowitz$800,000$0$0$0$2,300,000

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 Douglas Elliman in fiscal 2025?
As disclosed, Michael Liebowitz (President and Chief Executive Officer) was the highest-paid executive at Douglas Elliman in fiscal 2025, with total compensation of $2,300,000.
How does Douglas Elliman's chief executive pay compare to its disclosed peer group?
As disclosed, Michael Liebowitz's total compensation ranked at the 21st percentile of Douglas Elliman's disclosed peer group.
How did shareholders vote on Douglas Elliman's executive compensation?
As disclosed, 61.99% of shareholders supported Douglas Elliman's executive compensation in the latest say-on-pay vote.
How much does Douglas Elliman spend in total on board compensation for fiscal 2025?
As disclosed, Douglas Elliman reported total board compensation of $488,154 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, Michael LiebowitzDEF 14A2026-04-300001878897-26-000021Section “2025 Summary Compensation Table”. As printed: 2,300,000. Filing ↗machine: span 136572–136581
2Section 01, Bradley BrodieDEF 14A2026-04-300001878897-26-000021Section “2025 Summary Compensation Table”. As printed: 1,076,971. Filing ↗machine: t10 · span 152193–152202
3Section 01, J. Bryant Kirkland IIIDEF 14A2026-04-300001878897-26-000021Section “2025 Summary Compensation Table”. As printed: 1,066,063. Filing ↗machine: t10 · r5 · c21 · span 143940–143949
4Section 03, Bradley Brodie PSUDEF 14A—0001878897-26-000021Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
5Section 03, J. Bryant Kirkland III RSUDEF 14A2026-04-300001878897-26-000021Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t8 · r11 · c2 · span 72257–72260
6Section 03, Howard M. Lorber RSUDEF 14A2026-04-300001878897-26-000021Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗
7Section 03, Stephen T. Larkin RSUDEF 14A2026-04-300001878897-26-000021Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗
8Section 03, Richard J. Lampen RSUDEF 14A2026-04-300001878897-26-000021Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗
9Section 07, pay ratioDEF 14A2026-04-300001878897-26-000021Section “CEO Pay Ratio”. As printed: —. Filing ↗
10Section 08, Perry WeitzDEF 14A2026-04-300001878897-26-000021Section “Director Compensation”. As printed: 165,474. Filing ↗machine: t14 · r9 · c14 · span 313552–313559
11Section 08, Ronald J. KramerDEF 14A2025-04-300001878897-25-000024Section “Director Compensation”. As printed: 163,426. Filing ↗
12Section 08, Lynn MestelDEF 14A2025-04-300001878897-25-000024Section “Director Compensation”. As printed: 116,754. Filing ↗machine: span 405585–405720
13Section 08, Richard J. LampenDEF 14A2025-04-300001878897-25-000024Section “Director Compensation”. As printed: —. Filing ↗
14Section 02, Bradley Brodie 2026-08-13Form 42026-08-140002080692-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
15Section 02, Sanghyun Lee 2026-08-14Form 42026-08-180002145258-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
16Section 02, Justyn Feldman 2026-08-14Form 42026-08-180002145121-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
17Section 06, 2026 voteForm 8-K2026-06-180001878897-26-000036Item 5.07 · say-on-pay result. As reported: 61.99% (votes for as printed: 34,611,231). Filing ↗
18Section 06, 2025 voteForm 8-K2025-06-260001878897-25-000043Item 5.07 · say-on-pay result. As reported: 75.8% (votes for as printed: 41,514,167). Filing ↗
19Section 06, 2024 voteForm 8-K2024-08-210001878897-24-000033Item 5.07 · say-on-pay result. As reported: 76.62% (votes for as printed: 48,942,431). Filing ↗
20Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
21Section 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
22Section 09b board cost (computed)Computed——Cash 103,628 + equity 380,648 + all other 3,878 = 488,154, summed across the director compensation table rows.machine: formula: Σ = 488,154
23Douglas Elliman (subject), Section 10b CEO totalDEF 14A2026-04-300001878897-26-000021CEO total compensation as printed in Douglas Elliman's own proxy. As printed: 2,300,000. Filing ↗machine: span 136572–136581

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