Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-10-01

Howard Hughes Holdings Inc. (HHH)

CEO David O'Reilly was paid $7,826,778 in fiscal year 2025, ↑ up 36.7% from fiscal year 2024, the 36th percentile of its disclosed peer group (SEC filing 0001104659-26-098808 ↗): 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.

$7,826,778 ↑
David O'Reilly total, FY2025
36th
CEO pay percentile vs peers
59:1
CEO-to-median pay ratio
99.62%
Say-on-pay support, latest vote

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HHH's next annual pay disclosure, estimated August 23, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
David O'Reilly$1,000,000$0$4,677,785$0$2,100,000$0$48,993$7,826,778
Chief Executive Officer
L. Jay Cross377,88502,390,9730004,644,2037,413,060
Former President
Carlos Olea550,00001,403,3350990,000030,1372,973,473
Chief Financial Officer
Andrew Davis499,514625,000779,63100030,7581,934,903
HHC Chief Operating Officer
Joseph Valane500,0000779,6310600,000025,9731,905,604
Chief Legal Officer & Secretary
Doug Johnstone574,808625,000623,70500033,8151,857,328
President, HHC Hawaii Region & National Condo Development

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
David O'Reilly$7,826,778$5,724,877$4,966,996↑ +2,101,901
L. Jay Cross7,413,0604,739,5205,168,939↑ +2,673,540
Carlos Olea2,973,4732,495,1362,415,716↑ +478,337
Andrew Davis1,934,903———
Joseph Valane1,905,6041,917,3280↓ −11,724
Doug Johnstone1,857,3281,664,7050↑ +192,623

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

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Data as of October 1, 2026 · Source: 0001104659-26-098808 · Velarion Executive Compensation Database, deposited on Zenodo (doi:10.5281/zenodo.22283855).

Reports for HHH

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Companies that benchmark against HHH
2 companies name HHH as a compensation peer

Each company listed discloses HHH 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 HHH in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

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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
Adam FlattoFormer director (through FY2025)$52,500
Allen ModelFormer director (through FY2025)$30,000
Anthony WilliamsIndependent Director$325,000
Ben HakimDirector—
Beth KaplanFormer director (through FY2025)$200,516
Dana HamiltonFormer director (through FY2025)$85,000
David EunIndependent Director$322,500
Jean-Baptiste WautierIndependent Director$195,000
Mary Ann TigheIndependent Director$240,000
R. Scot SellersIndependent Director$385,000
Ryan IsraelDirector—
Steven ShepsmanFormer director (through FY2025)$209,266
Susan PanuccioIndependent Director$208,750
Thom LachmanIndependent Director$206,250
William AckmanChair of the Board—
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
Andrew DavisChief Operating Officer, HHC2026-09-23A1,000$64$64,490CommonForm 4 ↗
Marc GrandissonDirector2026-09-23A25,000641,602,938CommonForm 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
Doug JohnstonePSU2025-02-0503,952—7,904$323,708
David O'ReillyRSU2025-02-05——29,640—2,249,972
David O'ReillyPSU2025-02-05029,640—59,2802,427,812
Joseph ValanePSU2025-02-0504,940—9,880404,635
Andrew DavisRSU2025-02-05——4,940—374,995
Andrew DavisPSU——————
Doug JohnstoneRSU2025-02-05——3,952—299,996
David O'ReillyPSU——————
Joseph ValanePSU——————
Andrew DavisPSU2025-02-0504,940—9,880404,635
Andrew DavisPSU2025-02-0504,940—9,880404,635
Andrew DavisRSU2025-02-05——4,940—374,995
Doug JohnstonePSU——————
David O'ReillyPSU2025-02-05—29,640059,2802,427,812
David O'ReillyRSU2025-02-05——29,640—2,249,972
Carlos OleaPSU2025-02-0508,892—17,784728,344
Carlos OleaRSU2025-02-05——8,892—674,992
Carlos OleaPSU——————
Joseph ValaneRSU2025-02-05——4,940—374,995
L. Jay CrossRSU2025-02-05——15,150—1,150,037
L. Jay CrossPSU2025-02-05015,150—30,3001,240,937
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Doug Johnstone$299,996$323,708$051.9%
David O'Reilly4,499,9444,855,624051.9%
Joseph Valane374,995404,635051.9%
Andrew Davis749,990809,270051.9%
Carlos Olea674,992728,344051.9%
L. Jay Cross1,150,0371,240,937051.9%

% 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
David O'ReillyRSU1,400,000—$84,308,000
Andrew DavisPSU4,940—374,995
L. Jay CrossPSU15,150—1,150,037
Carlos OleaRSU660,000—39,745,200
David O'ReillyPSU29,640—2,249,972
Joseph ValanePSU4,940—374,995
Doug JohnstonePSU3,952—299,996
Joseph ValaneRSU400,000—24,088,000
Carlos OleaPSU8,892—674,992
05

Incentive-plan design — the Compensation Discussion & Analysis

The executive compensation program is intended to attract, retain and motivate the key people necessary to enable us to maximize operational efficiency and profitability over the long term, while holding employees accountable to the Company's strategy and values.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultantMeridian
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-09-3047,804,003183,255140,32499.62%Passed
20252025-09-3023,394,881566,168131,21697.11%Passed
20242024-05-2342,220,470294,55254,01699.18%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
20262026-09-3099.62%a
20252025-09-3097.11%b
20242024-05-2399.18%c

a. Voting standard not stated in the filing.

b. Approved under the standard stated in the filing — “Board Recommendation ​ ​ 1 ​ ​ Election of directors ​ ​ Each director nominee must receive the affirmative vote of a majority of the votes cast with respect to the nominee, excluding abstentions ​ ​ No ​ ​ No effect ​ ​ ✓ FOR each director nominee ​ ​ 2 ​ ​ Advisory (non-binding) vote to approve executive compensation (Say-on-Pay) ​ ​ Affirmative vote of a majority of the shares present, in person or by proxy, at the Annual Meeting and entitled to vote on the matter ​ ​ No ​ ​ Abstentions have the effect of a vote cast against the matter and broker non-votes have no effect ​ ​ ✓ FOR ​ ​ 3 ​ ​ Approval of the Howard Hughes Holdings Inc.”.

c. Approved under the standard stated in the filing — “Board Recommendation ​ ​ 1 ​ ​ Election of directors ​ ​ Each director nominee must receive the affirmative vote of a majority of the votes cast with respect to the nominee, excluding abstentions ​ ​ No ​ ​ No effect ​ ​ ✓ FOR each director nominee ​ ​ 2 ​ ​ Advisory (non-binding) vote to approve executive compensation (Say-on-Pay) ​ ​ Affirmative vote of a majority of the shares present, in person or by proxy, at the Annual Meeting and entitled to vote on the matter ​ ​ No ​ ​ Abstentions have the effect of a vote cast against the matter and broker non-votes have no effect ​ ​ ✓ FOR ​ ​ 3 ​ ​ Ratification of the appointment of KPMG LLP as our independent registered public accoun director nominee must receive the affirmative vote of a majority of the votes cast with respect to the nominee, excluding abstentions ​ ​ No ​ ​ No effect ​ ​ ✓ FOR each director nominee ​ ​ 2 ​ ​ Advisory (non-binding) vote to approve executive compensation (Say-on-Pay) ​ ​ Affirmative vote of a majority of the shares present, in person or by proxy, at the Annual Meeting and entitled to vote on the matter ​ ​ No ​ ​ Abstentions have the effect of a vote cast against the matter and broker non-votes have no effect ​ ​ ✓ FOR ​ ​ 3 ​ ​ Ratification of the appointment of KPMG LLP as our independent registered public accoun voting instructions to ensure that all your shares are voted.”.

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)59 : 1
CEO total compensation$7,826,778
Median employee compensation$132,130
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
R. Scot SellersIndependent · Compensation (Chair) · Risk$240,000$145,000———$385,000
Anthony WilliamsIndependent · Compensation · Nominating and Corporate Governance (Chair)180,000145,000———325,000
David EunIndependent · Audit · Technology (Chair)177,500145,000———322,500
Mary Ann TigheIndependent · Compensation · Nominating and Corporate Governance95,000145,000———240,000
Steven ShepsmanIndependent · Technology · Risk · Not standing for re-election · Departed during FY209,2660———209,266
Susan PanuccioIndependent · Audit (Chair) · Newly elected63,750145,000———208,750
Thom LachmanIndependent · Nominating and Corporate Governance · Technology · Newly elected61,250145,000———206,250
Beth KaplanIndependent · Audit · Risk · Not standing for re-election · Departed during FY200,5160———200,516
Jean-Baptiste WautierIndependent · Audit · Technology50,000145,000———195,000
Dana HamiltonIndependent · Risk · Technology · Not standing for re-election · Departed during FY85,0000———85,000
Adam FlattoIndependent · Nominating and Corporate Governance · Not standing for re-election · Departed during FY52,5000———52,500
Allen ModelIndependent · Audit · Risk (Chair) · Not standing for re-election · Departed during FY30,0000———30,000
Ryan IsraelEmployee director · Compensation (observer) · Insurance00———0
Ben HakimNot independent · Not standing for re-election00———0
David O'ReillyEmployee director—————0
William AckmanEmployee director · Board Chair · Insurance00———0
09

Board fee structure and ownership guideline

Annual cash retainer$75,000
Annual equity retainer$145,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)30,000 / 20,000 / 15,000
Stock ownership guideline$375,000
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$1,444,782
Equity awards (grant-date value)$1,015,000
All other compensation$0
Total cost of the board$2,459,782

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 Howard Hughes Holdings 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 Howard Hughes Holdings 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
1Toll Brothers, Inc.2025Douglas Yearley$1,200,000$7,040,854$0$6,746,836$15,319,865
2Regency Centers Corporation2025Lisa Palmer1,050,0007,099,09802,925,00011,092,432
3Taylor Morrison Home Corporation2025Sheryl Palmer1,075,0005,599,9571,399,9871,548,00010,075,397
4UDR, Inc.2025Thomas Toomey900,0009,010,120009,933,438
5Federal Realty Investment Trust2025Donald Wood1,000,0007,554,43401,350,0009,929,147
6Douglas Emmett, Inc.2025Jordan Kaplan800,0008,170,000009,012,069
7Cousins Properties Incorporated2025M. Colin Connolly791,8136,154,83001,705,5648,688,925
8Tri Pointe Homes, Inc.2025Douglas Bauer1,000,0005,999,98101,635,0008,677,081
9Meritage Homes Corporation2025Phillippe Lord1,000,0005,697,08501,352,0008,114,286
10Howard Hughes Holdings Inc.2025David O'Reilly1,000,0004,677,78502,100,0007,826,778
11Kilroy Realty Corporation2025Angela Aman820,0004,433,57701,801,8507,072,527
12JBG SMITH Properties2025W. Matthew Kelly750,0003,499,994——5,521,861
13Mid-America Apartment Communities, Inc.2025A. Bradley Hill712,0193,412,409—1,183,9005,453,480
14Camden Property Trust2025Alexander Jessett646,5963,010,54801,491,0315,151,175
15Brixmor Property Group Inc.2025Brian T. Finnegan650,0001,777,134—830,9443,735,474

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
Howard Hughes Holdings Inc.not disclosedPSU 50 · RSU 50NoMeridian
Brixmor Property Group Inc.not disclosedPSU 60 · RSU 40Yes — Relative Total Stockholder Return (TSR)Pay Governance
Camden Property Trustnot disclosedPSU 100Yes — Total Shareholder Return (TSR)CBIZ Talent and Compensation Solutions
Cousins Properties Incorporated143.6%PSU 60 · RSU 40NoFerguson Partners Consulting
Douglas Emmett, Inc.not disclosedLTIP Units 100Yes — Total Shareholder Return (TSR)FTI Consulting, Inc.
Federal Realty Investment Trust120%not disclosedNoSemler Brossy Consulting Group
JBG SMITH Properties168%LTIP Units 10Yes — Relative TSRFerguson Partners Consulting
Kilroy Realty Corporation125.6%PSU 75 · RSU 25Yes — TSR Percentile RankingKorn Ferry
Meritage Homes Corporation41.6%PSU 50 · RSU 50NoPearl Meyer
Mid-America Apartment Communities, Inc.not disclosedPSU 80 · RSU 20Yes — Compounded Annualized Three-Year Relative Total Shareholder Return (TSR)Pearl Meyer
Regency Centers Corporationnot disclosedPSU 80 · RSU 20Yes — Relative Total Shareholder Return (TSR)Semler Brossy
Taylor Morrison Home Corporation183%PSU 40 · RSU 40 · Options 20NoSemler Brossy Consulting Group, LLC
Toll Brothers, Inc.105.8%not disclosedNoCompensation Advisory Partners LLC
Tri Pointe Homes, Inc.65.4%PSU 60 · RSU 40NoExequity
UDR, Inc.not disclosedPSU 100Yes — Relative cumulative TSR versus apartment peersFPL Associates

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 Howard Hughes Holdings Inc. in fiscal 2025?
As disclosed, David O'Reilly (Chief Executive Officer) was the highest-paid executive at Howard Hughes Holdings Inc. in fiscal 2025, with total compensation of $7,826,778.
How does Howard Hughes Holdings Inc.'s chief executive pay compare to its disclosed peer group?
As disclosed, David O'Reilly's total compensation ranked at the 36th percentile of Howard Hughes Holdings Inc.'s disclosed peer group.
What is Howard Hughes Holdings Inc.'s CEO-to-median employee pay ratio?
As disclosed, Howard Hughes Holdings Inc.'s CEO-to-median employee pay ratio was 59:1.
How did shareholders vote on Howard Hughes Holdings Inc.'s executive compensation?
As disclosed, 99.62% of shareholders supported Howard Hughes Holdings Inc.'s executive compensation in the latest say-on-pay vote.
How much does Howard Hughes Holdings Inc. spend in total on board compensation for fiscal 2025?
As disclosed, Howard Hughes Holdings Inc. reported total board compensation of $2,459,782 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, David O'ReillyDEF 14A2026-08-190001104659-26-098808Section “Summary Compensation Table”. As printed: 7,826,778. Filing ↗machine: r1 · c54 · span 1459148–1459157
2Section 01, L. Jay CrossDEF 14A2026-08-190001104659-26-098808Section “Summary Compensation Table”. As printed: 7,413,060. Filing ↗machine: r4 · c54 · span 1474791–1474800
3Section 01, Carlos OleaDEF 14A2026-08-190001104659-26-098808Section “Summary Compensation Table”. As printed: 2,973,473. Filing ↗machine: r7 · c54 · span 1490427–1490436
4Section 01, Andrew DavisDEF 14A2026-08-190001104659-26-098808Section “Summary Compensation Table”. As printed: 1,934,903. Filing ↗machine: r16 · c54 · span 1537226–1537235
5Section 01, Joseph ValaneDEF 14A2026-08-190001104659-26-098808Section “Summary Compensation Table”. As printed: 1,905,604. Filing ↗machine: r10 · c54 · span 1505980–1505989
6Section 01, Doug JohnstoneDEF 14A2026-08-190001104659-26-098808Section “Summary Compensation Table”. As printed: 1,857,328. Filing ↗machine: r13 · c54 · span 1521666–1521675
7Section 03, Doug Johnstone PSUDEF 14A2026-08-190001104659-26-098808Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
8Section 03, David O'Reilly RSUDEF 14A2026-08-190001104659-26-098808Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1599802–1599811
9Section 03, David O'Reilly PSUDEF 14A2026-08-190001104659-26-098808Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1592236–1592245
10Section 03, Joseph Valane PSUDEF 14A2026-08-190001104659-26-098808Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
11Section 03, Andrew Davis RSUDEF 14A2026-08-190001104659-26-098808Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1747426–1747433
12Section 03, Andrew Davis PSUDEF 14A2026-08-190001104659-26-098808Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
13Section 03, Doug Johnstone RSUDEF 14A2026-08-190001104659-26-098808Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1717845–1717852
14Section 03, David O'Reilly PSUDEF 14A2026-08-190001104659-26-098808Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
15Section 03, Joseph Valane PSUDEF 14A2026-08-190001104659-26-098808Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
16Section 03, Andrew Davis PSUDEF 14A2026-08-190001104659-26-098808Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
17Section 03, Andrew Davis PSUDEF 14A2026-08-190001104659-26-098808Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
18Section 03, Andrew Davis RSUDEF 14A2026-08-190001104659-26-098808Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1747426–1747433
19Section 03, Doug Johnstone PSUDEF 14A2026-08-190001104659-26-098808Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
20Section 03, David O'Reilly PSUDEF 14A2026-08-190001104659-26-098808Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1592236–1592245
21Section 03, David O'Reilly RSUDEF 14A2026-08-190001104659-26-098808Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1599802–1599811
22Section 03, Carlos Olea PSUDEF 14A2026-08-190001104659-26-098808Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
23Section 03, Carlos Olea RSUDEF 14A2026-08-190001104659-26-098808Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1658828–1658835
24Section 03, Carlos Olea PSUDEF 14A2026-08-190001104659-26-098808Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
25Section 03, Joseph Valane RSUDEF 14A2026-08-190001104659-26-098808Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1688336–1688343
26Section 03, L. Jay Cross RSUDEF 14A2026-08-190001104659-26-098808Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1629316–1629325
27Section 03, L. Jay Cross PSUDEF 14A2026-08-190001104659-26-098808Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
28Section 07, pay ratioDEF 14A2026-08-190001104659-26-098808Section “CEO Pay Ratio”. As printed: 59 : 1. Filing ↗
29Section 08, R. Scot SellersDEF 14A2026-08-190001104659-26-098808Section “Director Compensation”. As printed: 385,000. Filing ↗machine: span 681691–681698
30Section 08, Anthony WilliamsDEF 14A2026-08-190001104659-26-098808Section “Director Compensation”. As printed: 325,000. Filing ↗machine: span 690330–690337
31Section 08, David EunDEF 14A2026-08-190001104659-26-098808Section “Director Compensation”. As printed: 322,500. Filing ↗machine: span 658267–658274
32Section 08, Mary Ann TigheDEF 14A2026-08-190001104659-26-098808Section “Director Compensation”. As printed: 240,000. Filing ↗machine: span 687449–687456
33Section 08, Steven ShepsmanDEF 14A2026-08-190001104659-26-098808Section “Director Compensation”. As printed: 209,266. Filing ↗machine: span 683169–683176
34Section 08, Susan PanuccioDEF 14A2026-08-190001104659-26-098808Section “Director Compensation”. As printed: 208,750. Filing ↗machine: span 678677–678684
35Section 08, Thom LachmanDEF 14A2026-08-190001104659-26-098808Section “Director Compensation”. As printed: 206,250. Filing ↗machine: span 672911–672918
36Section 08, Beth KaplanDEF 14A2026-08-190001104659-26-098808Section “Director Compensation”. As printed: 200,516. Filing ↗machine: span 668745–668752
37Section 08, Jean-Baptiste WautierDEF 14A2026-08-190001104659-26-098808Section “Director Compensation”. As printed: 195,000. Filing ↗machine: span 693239–693246
38Section 08, Dana HamiltonDEF 14A2026-08-190001104659-26-098808Section “Director Compensation”. As printed: 85,000. Filing ↗machine: span 665871–665877
39Section 08, Adam FlattoDEF 14A2026-08-190001104659-26-098808Section “Director Compensation”. As printed: 52,500. Filing ↗machine: span 653991–653998
40Section 08, Allen ModelDEF 14A2026-08-190001104659-26-098808Section “Director Compensation”. As printed: 30,000. Filing ↗machine: span 674511–674517
41Section 08, Ryan IsraelDEF 14A2026-08-190001104659-26-098808Section “Director Compensation”. As printed: 0. Filing ↗
42Section 08, Ben HakimDEF 14A2026-08-190001104659-26-098808Section “Director Compensation”. As printed: 0. Filing ↗
43Section 08, David O'ReillyDEF 14A2026-08-190001104659-26-098808Section “Director Compensation”. As printed: 0. Filing ↗
44Section 08, William AckmanDEF 14A2026-08-190001104659-26-098808Section “Director Compensation”. As printed: 0. Filing ↗
45Section 02, Andrew Davis 2026-09-23Form 42026-09-240001104659-26-110504Insider equity transaction reported since the proxy statement. Filing ↗
46Section 02, Marc Grandisson 2026-09-23Form 42026-09-240001104659-26-110505Insider equity transaction reported since the proxy statement. Filing ↗
47Section 06, 2026 voteForm 8-K2026-10-010001104659-26-112836Item 5.07 · say-on-pay result. As reported: 99.62% (votes for as printed: 47,804,003). Filing ↗
48Section 06, 2025 voteForm 8-K2025-10-070000929638-25-003820Item 5.07 · say-on-pay result. As reported: 97.11% (votes for as printed: 23,394,881). Filing ↗
49Section 06, 2024 voteForm 8-K2024-05-240001104659-24-065133Item 5.07 · say-on-pay result. As reported: 99.18% (votes for as printed: 42,220,470). Filing ↗
50Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
51Section 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
52Section 09b board cost (computed)Computed——Cash 1,444,782 + equity 1,015,000 + all other 0 = 2,459,782, summed across the director compensation table rows.machine: formula: Σ = 2,459,782
53Toll Brothers, Inc., Section 10b CEO totalDEF 14A2026-01-290000794170-26-000037CEO total compensation as printed in Toll Brothers, Inc.'s own proxy. As printed: 15,319,865. Filing ↗machine: r3 · c48 · span 601186–601196
54Regency Centers Corporation, Section 10b CEO totalDEF 14A2026-03-250001193125-26-122880CEO total compensation as printed in Regency Centers Corporation's own proxy. As printed: 11,092,432. Filing ↗machine: r7 · c23 · span 803410–803421
55Taylor Morrison Home Corporation, Section 10b CEO totalDEF 14A2026-04-100001140361-26-014261CEO total compensation as printed in Taylor Morrison Home Corporation's own proxy. As printed: 10,075,397. Filing ↗machine: t176 · r2 · c27 · span 1133718–1133728
56UDR, 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
57Federal Realty Investment Trust, Section 10b CEO totalDEF 14A2026-03-270001193125-26-127642CEO total compensation as printed in Federal Realty Investment Trust's own proxy. As printed: 9,929,147. Filing ↗machine: t136 · r3 · c27 · span 657645–657654
58Douglas Emmett, Inc., 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
59Cousins Properties Incorporated, Section 10b CEO totalDEF 14A2026-03-180000025232-26-000031CEO total compensation as printed in Cousins Properties Incorporated's own proxy. As printed: 8,688,925. Filing ↗machine: r2 · c6 · span 1749369–1749379
60Tri Pointe Homes, Inc., Section 10b CEO totalDEF 14A2026-03-060001561680-26-000013CEO total compensation as printed in Tri Pointe Homes, Inc.'s own proxy. As printed: 8,677,081. Filing ↗machine: r2 · c48 · span 551025–551034
61Meritage Homes Corporation, Section 10b CEO totalDEF 14A2026-04-070000833079-26-000098CEO total compensation as printed in Meritage Homes Corporation's own proxy. As printed: 8,114,286. Filing ↗machine: t119 · r2 · c19 · span 828485–828494
62Howard Hughes Holdings Inc. (subject), Section 10b CEO totalDEF 14A2026-08-190001104659-26-098808CEO total compensation as printed in Howard Hughes Holdings Inc.'s own proxy. As printed: 7,826,778. Filing ↗machine: r1 · c54 · span 1459148–1459157
63Kilroy 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
64JBG SMITH Properties, Section 10b CEO totalDEF 14A2026-03-180001104659-26-030932CEO total compensation as printed in JBG SMITH Properties's own proxy. As printed: 5,521,861. Filing ↗
65Mid-America Apartment Communities, Inc., Section 10b CEO totalDEF 14A2026-04-060001140361-26-013212CEO total compensation as printed in Mid-America Apartment Communities, Inc.'s own proxy. As printed: 5,453,480. Filing ↗
66Camden Property Trust, Section 10b CEO totalDEF 14A2026-03-270001628280-26-021581CEO total compensation as printed in Camden Property Trust's own proxy. As printed: 5,151,175. Filing ↗machine: span 767748–767757
67Brixmor Property Group Inc., Section 10b CEO totalDEF 14A2026-03-110001104659-26-026381CEO total compensation as printed in Brixmor Property Group Inc.'s own proxy. As printed: 3,735,474. Filing ↗machine: r4 · c27 · span 957466–957475
68Section 10a, Brixmor Property Group Inc. reciprocityDEF 14A—0001104659-26-026381Brixmor Property Group Inc.'s most recent proxy was read; its disclosed peer group does not include Howard Hughes Holdings Inc.. Filing ↗
69Section 10a, Tri Pointe Homes, Inc. reciprocityDEF 14A—0001561680-26-000013Tri Pointe Homes, Inc.'s most recent proxy was read; its disclosed peer group does not include Howard Hughes Holdings Inc.. Filing ↗
70Section 10a, Federal Realty Investment Trust reciprocityDEF 14A—0001193125-25-066328Federal Realty Investment Trust's most recent proxy was read; its disclosed peer group does not include Howard Hughes Holdings Inc.. Filing ↗
71Section 10a, Camden Property Trust reciprocityDEF 14A—0000906345-25-000014Camden Property Trust's most recent proxy was read; its disclosed peer group does not include Howard Hughes Holdings Inc.. Filing ↗
72Section 10a, JBG SMITH Properties reciprocityDEF 14A—0001104659-26-030932JBG SMITH Properties's most recent proxy was read; its disclosed peer group does not include Howard Hughes Holdings Inc.. Filing ↗
73Section 10a, Kilroy Realty Corporation reciprocityDEF 14A—0001193125-26-149727Kilroy Realty Corporation's most recent proxy was read; its disclosed peer group does not include Howard Hughes Holdings Inc.. Filing ↗
74Section 10a, Regency Centers Corporation reciprocityDEF 14A—0001193125-26-122880Regency Centers Corporation's most recent proxy was read; its disclosed peer group does not include Howard Hughes Holdings Inc.. Filing ↗
75Section 10a, Cousins Properties Incorporated reciprocityDEF 14A—0000025232-26-000031Cousins Properties Incorporated's most recent proxy was read; its disclosed peer group does not include Howard Hughes Holdings Inc.. Filing ↗
76Section 10a, Meritage Homes Corporation reciprocityDEF 14A—0000833079-26-000098Meritage Homes Corporation's most recent proxy was read; its disclosed peer group does not include Howard Hughes Holdings Inc.. Filing ↗
77Section 10a, Toll Brothers, Inc. reciprocityDEF 14A—0000794170-26-000037Toll Brothers, Inc.'s most recent proxy was read; its disclosed peer group does not include Howard Hughes Holdings Inc.. Filing ↗
78Section 10a, Douglas Emmett, Inc. reciprocityDEF 14A—0001364250-26-000020Douglas Emmett, Inc.'s most recent proxy was read; its disclosed peer group does not include Howard Hughes Holdings Inc.. Filing ↗
79Section 10a, UDR, Inc. reciprocityDEF 14A—0000074208-26-000037UDR, Inc.'s most recent proxy was read; its disclosed peer group does not include Howard Hughes Holdings Inc.. Filing ↗
80Section 10a, Taylor Morrison Home Corporation reciprocityDEF 14A—0001140361-26-014261Taylor Morrison Home Corporation's most recent proxy was read; its disclosed peer group does not include Howard Hughes Holdings Inc.. Filing ↗

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