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.
Each company listed discloses FBRT 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 FBRT in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Michael Comparato | $0 | $0 | $1,747,984 | $0 | $0 | $0 | $0 | $1,747,984 |
| Chief Executive Officer and Former President | ||||||||
| Richard Byrne | 0 | 0 | 1,365,994 | 0 | 0 | 0 | 0 | 1,365,994 |
| Former Chief Executive Officer | ||||||||
| Jerome Baglien | 0 | 0 | 1,165,326 | 0 | 0 | 0 | 0 | 1,165,326 |
| Chief Financial Officer and Chief Operating 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 |
|---|---|---|---|---|
| Michael Comparato | $1,747,984 | $0 | $974,611 | +1,747,984 |
| Richard Byrne | 1,365,994 | 1,577,585 | 1,039,506 | −211,591 |
| Jerome Baglien | 1,165,326 | 0 | 756,282 | +1,165,326 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
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 |
|---|---|---|---|---|---|---|---|---|
| Joe Dumars | Director | 2026-06-08 | A | 12,835 | $0 | $0 | Common | Form 4 ↗ |
| Pat Augustine | Director | 2026-06-08 | A | 12,835 | 0 | 0 | Common | Form 4 ↗ |
| Buford H. Ortale | Director | 2026-06-08 | A | 12,835 | 0 | 0 | Common | Form 4 ↗ |
| Peter J. McDonough | Director | 2026-06-08 | A | 12,835 | 0 | 0 | Common | Form 4 ↗ |
| Elizabeth K. Tuppeny | Director | 2026-06-08 | A | 12,835 | 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 |
|---|---|---|---|---|---|---|---|
| Jerome Baglien | RSU | 2025-01-27 | — | — | 91,255 | — | $1,165,326 |
| Michael Comparato | RSU | 2025-01-27 | — | — | 136,882 | — | 1,747,984 |
| Richard Byrne | RSU | 2025-01-27 | — | — | 106,969 | — | 1,365,994 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Jerome Baglien | $1,165,326 | $0 | $0 | 0.0% |
| Michael Comparato | 1,747,984 | 0 | 0 | 0.0% |
| Richard Byrne | 1,365,994 | 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 |
|---|---|---|---|---|
| Jerome Baglien | RSU | 17,697 | — | $177,501 |
| Jerome Baglien | RSU | 50,314 | — | 504,649 |
| Michael Comparato | RSU | 22,810 | — | 228,784 |
| Richard Byrne | RSU | 79,375 | — | 796,131 |
| Michael Comparato | RSU | 136,882 | — | 1,372,926 |
| Richard Byrne | RSU | 106,969 | — | 1,072,899 |
| Jerome Baglien | RSU | 91,255 | — | 915,288 |
| Michael Comparato | RSU | 79,243 | — | 794,807 |
| Richard Byrne | RSU | 24,334 | — | 244,070 |
The Compensation Committee is committed to developing a competitive compensation program that supports FBRT's mission and values, encourages successful execution of our business goals and recruits top talent. We believe our compensation program should support and reinforce our goals for growth, financial performance, and leadership development while aligning the interests of our executives and stockholders for long-term value creation.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | F.W. Cook |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | True |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-06-08 | 40,071,017 | 5,413,939 | 414,101 | 88.1% | Passed |
| 2025 | 2025-05-28 | 37,898,129 | 6,943,790 | 372,088 | 84.51% | Passed |
| 2024 | 2024-05-29 | 38,694,249 | 6,659,686 | 307,822 | 85.32% | Passed |
| 2023 | 2023-05-31 | 34,793,099 | 9,017,352 | 363,461 | 79.42% | 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 | 2026-06-08 | 88.1%a |
| 2025 | 2025-05-28 | 84.51%b |
| 2024 | 2024-05-29 | 85.32%c |
a. Approved under the standard stated in the filing — “Abstentions and broker non-votes will count toward the presence of a quorum but are not considered to be votes "cast" and will have no effect on the proposal.”.
b. Approved under the standard stated in the filing — “Abstentions and broker non-votes will count toward the presence of a quorum but are not considered to be votes "cast" and will have no effect on the proposal.”.
c. Approved under the standard stated in the filing — “Abstentions and broker non-votes will count toward the presence of a quorum but are not considered to be votes "cast" and will have no effect on 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.
| Ratio (CEO : median employee) | 7.94 : 1 |
|---|---|
| CEO total compensation | $1,365,994 |
| Median employee compensation | $172,000 |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Elizabeth K. TuppenyIndependent · Lead Independent Director · Audit · Compensation · Nominating and Corporate Governance | $170,000 | $110,000 | $0 | $0 | $0 | $280,000 |
| Jamie HandwerkerIndependent · Audit · Compensation (Chair) · Nominating and Corporate Governance · Not standing for re-election | 150,000 | 110,000 | 0 | 0 | 0 | 260,000 |
| Peter J. McDonoughIndependent · Audit · Compensation · Nominating and Corporate Governance (Chair) | 150,000 | 110,000 | 0 | 0 | 0 | 260,000 |
| Buford H. OrtaleIndependent · Audit (Chair) · Compensation · Nominating and Corporate Governance | 150,000 | 110,000 | 0 | 0 | 0 | 260,000 |
| Pat AugustineIndependent · Compensation · Nominating and Corporate Governance | 130,000 | 110,000 | 0 | 0 | 0 | 240,000 |
| Joe DumarsIndependent · Audit · Nominating and Corporate Governance | 130,000 | 110,000 | 0 | 0 | 0 | 240,000 |
| Richard J. ByrneNot independent · Board Chair | 0 | 0 | 0 | 0 | 0 | 0 |
| Annual cash retainer | $110,000 |
|---|---|
| Annual equity retainer | $110,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 20,000 / 10,000 / 20,000 |
| Stock ownership guideline | — |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $880,000 |
| Equity awards (grant-date value) | $660,000 |
| All other compensation | $0 |
| Total cost of the board | $1,540,000 |
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 | Franklin BSP Realty Trust, Inc. | 2025 | Michael Comparato | $0 | $1,747,984 | $0 | $0 | $1,747,984 |
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.
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, Michael Comparato | DEF 14A | 2026-04-17 | 0001193125-26-161379 | Section “Summary Compensation Table”. As printed: 1,747,984. Filing ↗machine: t167 · r5 · c8 · span 543482–543491 |
| 2 | Section 01, Richard Byrne | DEF 14A | 2026-04-17 | 0001193125-26-161379 | Section “Summary Compensation Table”. As printed: 1,365,994. Filing ↗machine: t167 · r3 · c8 · span 542484–542493 |
| 3 | Section 01, Jerome Baglien | DEF 14A | 2026-04-17 | 0001193125-26-161379 | Section “Summary Compensation Table” · page 40. As printed: 1,165,326. Filing ↗machine: t164 · span 544854–544863 |
| 4 | Section 03, Jerome Baglien RSU | DEF 14A | 2026-04-17 | 0001193125-26-161379 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t167 · r7 · c8 · span 544854–544863 |
| 5 | Section 03, Michael Comparato RSU | DEF 14A | 2026-04-17 | 0001193125-26-161379 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t167 · r5 · c8 · span 543482–543491 |
| 6 | Section 03, Richard Byrne RSU | DEF 14A | 2026-04-17 | 0001193125-26-161379 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t167 · r3 · c8 · span 542484–542493 |
| 7 | Section 07, pay ratio | DEF 14A | 2026-04-17 | 0001193125-26-161379 | Section “CEO Pay Ratio”. As printed: 7.94 : 1. Filing ↗ |
| 8 | Section 08, Elizabeth K. Tuppeny | DEF 14A | 2026-04-17 | 0001193125-26-161379 | Section “Director Compensation”. As printed: 280,000. Filing ↗machine: t84 · r13 · c11 · span 281937–281944 |
| 9 | Section 08, Jamie Handwerker | DEF 14A | 2026-04-17 | 0001193125-26-161379 | Section “Director Compensation”. As printed: 260,000. Filing ↗machine: t84 · r7 · c11 · span 277579–277586 |
| 10 | Section 08, Peter J. McDonough | DEF 14A | 2026-04-17 | 0001193125-26-161379 | Section “Director Compensation”. As printed: 260,000. Filing ↗machine: t84 · r9 · c11 · span 278874–278881 |
| 11 | Section 08, Buford H. Ortale | DEF 14A | 2026-04-17 | 0001193125-26-161379 | Section “Director Compensation”. As printed: 260,000. Filing ↗machine: t84 · r11 · c11 · span 280217–280224 |
| 12 | Section 08, Pat Augustine | DEF 14A | 2026-04-17 | 0001193125-26-161379 | Section “Director Compensation”. As printed: 240,000. Filing ↗machine: t84 · r3 · c11 · span 274949–274956 |
| 13 | Section 08, Joe Dumars | DEF 14A | 2026-04-17 | 0001193125-26-161379 | Section “Director Compensation”. As printed: 240,000. Filing ↗machine: t84 · r5 · c11 · span 276236–276243 |
| 14 | Section 08, Richard J. Byrne | DEF 14A | 2026-04-17 | 0001193125-26-161379 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 15 | Section 02, Joe Dumars 2026-06-08 | Form 4 | 2026-06-10 | 0001104659-26-072489 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 16 | Section 02, Pat Augustine 2026-06-08 | Form 4 | 2026-06-10 | 0001104659-26-072486 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 17 | Section 02, Buford H. Ortale 2026-06-08 | Form 4 | 2026-06-10 | 0001104659-26-072490 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 18 | Section 02, Peter J. McDonough 2026-06-08 | Form 4 | 2026-06-10 | 0001104659-26-072488 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 19 | Section 02, Elizabeth K. Tuppeny 2026-06-08 | Form 4 | 2026-06-10 | 0001104659-26-072487 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 20 | Section 06, 2026 vote | Form 8-K | 2026-06-09 | 0001104659-26-071863 | Item 5.07 · say-on-pay result. As reported: 88.1% (votes for as printed: 40,071,017). Filing ↗ |
| 21 | Section 06, 2025 vote | Form 8-K | 2025-06-02 | 0001104659-25-055560 | Item 5.07 · say-on-pay result. As reported: 84.51% (votes for as printed: 37,898,129). Filing ↗ |
| 22 | Section 06, 2024 vote | Form 8-K | 2024-05-31 | 0001104659-24-067175 | Item 5.07 · say-on-pay result. As reported: 85.32% (votes for as printed: 38,694,249). Filing ↗ |
| 23 | Section 01 trend, Δ column (computed) | Computed | — | computed | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 24 | Section 03b vehicle mix (computed) | 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 |
| 25 | Section 09b board cost (computed) | Computed | — | computed | Cash 880,000 + equity 660,000 + all other 0 = 1,540,000, summed across the director compensation table rows.machine: formula: Σ = 1,540,000 |
| 26 | Franklin BSP Realty Trust, Inc. (subject), Section 10b CEO total | DEF 14A | 2026-04-17 | 0001193125-26-161379 | CEO total compensation as printed in Franklin BSP Realty Trust, Inc.'s own proxy. As printed: 1,747,984. Filing ↗machine: t167 · r5 · c8 · span 543482–543491 |