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 IRT 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 IRT 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 |
|---|---|---|---|---|---|---|---|---|
| Scott Schaeffer | $800,000 | $500,000 | $2,825,675 | $0 | $1,127,262 | $0 | $14,000 | $5,266,937 |
| Chairman of the Board and Chief Executive Officer | ||||||||
| James Sebra | 515,000 | 289,688 | 1,036,062 | 0 | 622,558 | 0 | 14,000 | 2,477,308 |
| President, Chief Financial Officer and Treasurer | ||||||||
| Michele Weisbaum | 400,000 | 150,000 | 470,930 | 0 | 322,360 | 0 | 14,000 | 1,357,290 |
| General Counsel, Executive Vice President and Secretary | ||||||||
| Jason Delozier | 330,000 | 123,750 | 282,566 | 0 | 265,947 | 0 | 14,000 | 1,016,264 |
| Chief Accounting 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 |
|---|---|---|---|---|
| Scott Schaeffer | $5,266,937 | $5,034,440 | $4,846,528 | +232,497 |
| James Sebra | 2,477,308 | 2,162,789 | 2,043,317 | +314,519 |
| Michele Weisbaum | 1,357,290 | 1,297,006 | — | +60,284 |
| Jason Delozier | 1,016,264 | 990,111 | — | +26,153 |
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 |
|---|---|---|---|---|---|---|---|---|
| Richard D. Gebert | Director | 2026-04-01 | D | 500 | $15 | $7,425 | Common | Form 4 ↗ |
| Richard D. Gebert | Director | 2026-05-01 | D | 500 | 16 | 8,165 | Common | Form 4 ↗ |
| Ned W. Brines | Director | 2026-05-13 | A | 574 | 17 | 9,620 | Common | Form 4 ↗ |
| DeForest B. Soaries, Jr | Director | 2026-05-13 | A | 6,197 | 0 | 0 | Common | Form 4 ↗ |
| Ned W. Brines | Director | 2026-05-13 | A | 16 | 16 | 257 | Common | Form 4 ↗ |
| Craig Macnab | Director | 2026-05-13 | A | 6,197 | 0 | 0 | Common | Form 4 ↗ |
| Melinda H. McClure | Director | 2026-05-13 | A | 6,197 | 0 | 0 | Common | Form 4 ↗ |
| Richard D. Gebert | Director | 2026-05-13 | A | 6,197 | 0 | 0 | Common | Form 4 ↗ |
| Ned W. Brines | Director | 2026-05-13 | A | 583 | 16 | 9,515 | Common | Form 4 ↗ |
| Ned W. Brines | Director | 2026-05-13 | A | 604 | 16 | 9,712 | Common | Form 4 ↗ |
| Ned W. Brines | Director | 2026-05-13 | A | 6,197 | 0 | 0 | Common | Form 4 ↗ |
| Lisa Washington | Director | 2026-05-13 | A | 6,197 | 0 | 0 | Common | Form 4 ↗ |
| Ned W. Brines | Director | 2026-05-13 | A | 15 | 17 | 260 | Common | Form 4 ↗ |
| Ned W. Brines | Director | 2026-05-13 | A | 16 | 16 | 261 | Common | Form 4 ↗ |
| Ana Marie del Rio | Director | 2026-05-13 | A | 6,197 | 0 | 0 | Common | Form 4 ↗ |
| Ned W. Brines | Director | 2026-05-13 | A | 15 | 17 | 251 | Common | Form 4 ↗ |
| Ned W. Brines | Director | 2026-05-13 | A | 545 | 17 | 9,429 | Common | Form 4 ↗ |
| Richard D. Gebert | Director | 2026-06-01 | D | 500 | 16 | 8,075 | Common | Form 4 ↗ |
| Richard D. Gebert | Director | 2026-07-01 | D | 500 | 17 | 8,375 | 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 |
|---|---|---|---|---|---|---|---|
| Scott Schaeffer | RSU | 2025-02-04 | — | — | 39,640 | — | $768,223 |
| Jason Delozier | RSU | 2025-02-04 | — | — | 3,964 | — | 76,822 |
| Michele Weisbaum | RSU | 2025-02-04 | — | — | 6,606 | — | 128,024 |
| Michele Weisbaum | PSU | 2025-02-04 | 9,911 | 19,820 | — | 29,732 | 342,906 |
| Jason Delozier | PSU | 2025-02-04 | 5,946 | 11,892 | — | 17,839 | 205,743 |
| James Sebra | PSU | 2025-02-04 | 21,803 | 43,604 | — | 65,410 | 754,393 |
| James Sebra | RSU | 2025-02-04 | — | — | 14,534 | — | 281,669 |
| Scott Schaeffer | PSU | 2025-02-04 | 59,464 | 118,921 | — | 178,392 | 2,057,452 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Scott Schaeffer | $768,223 | $2,057,452 | $0 | 72.8% |
| Jason Delozier | 76,822 | 205,743 | 0 | 72.8% |
| Michele Weisbaum | 128,024 | 342,906 | 0 | 72.8% |
| James Sebra | 281,669 | 754,393 | 0 | 72.8% |
% 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 |
|---|---|---|---|---|
| Scott Schaeffer | RSU | 73,682 | — | $1,287,961 |
| Michele Weisbaum | PSU | 19,820 | — | 346,454 |
| James Sebra | RSU | 12,508 | — | 218,640 |
| Jason Delozier | RSU | 2,590 | — | 45,273 |
| Scott Schaeffer | RSU | 39,640 | — | 692,907 |
| James Sebra | RSU | 6,854 | — | 119,808 |
| Scott Schaeffer | PSU | 118,921 | — | 2,078,739 |
| Scott Schaeffer | RSU | 34,180 | — | 597,466 |
| James Sebra | RSU | 26,964 | — | 471,331 |
| Jason Delozier | RSU | 3,964 | — | 69,291 |
| James Sebra | PSU | 75,050 | — | 1,311,865 |
| Scott Schaeffer | PSU | 205,082 | — | 3,584,825 |
| James Sebra | PSU | 43,604 | — | 762,198 |
| Michele Weisbaum | PSU | 31,896 | — | 557,542 |
| Jason Delozier | PSU | 15,542 | — | 271,665 |
| James Sebra | RSU | 14,534 | — | 254,054 |
| Scott Schaeffer | RSU | 7,108 | — | 124,248 |
| Jason Delozier | RSU | 5,584 | — | 97,608 |
| Michele Weisbaum | RSU | 5,316 | — | 92,924 |
| Jason Delozier | RSU | 565 | — | 9,876 |
| Jason Delozier | PSU | 11,892 | — | 207,872 |
| Michele Weisbaum | RSU | 3,368 | — | 58,873 |
| James Sebra | RSU | 2,720 | — | 47,546 |
| Jason Delozier | RSU | 1,420 | — | 24,822 |
| Scott Schaeffer | RSU | 18,727 | — | 327,348 |
| Michele Weisbaum | RSU | 6,606 | — | 115,473 |
We believe our executive compensation policies and procedures are focused on long-term performance principles and are closely aligned with stockholder interests. Our executive compensation program is also designed to attract and retain outstanding executives, to reward them for superior performance and to ensure that compensation provided to them remains competitive.
| CEO STI target (% of salary) | 179% |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | not disclosed |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | True |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-05-13 | 193,704,256 | 4,503,190 | 407,362 | 97.73% | Passed |
| 2025 | 2025-05-14 | 186,264,202 | 4,630,492 | 851,567 | 97.57% | Passed |
| 2024 | 2024-05-15 | 175,754,683 | 4,667,062 | 545,901 | 97.41% | Passed |
| 2023 | 2023-05-10 | 159,956,684 | 5,089,991 | 601,961 | 96.92% | Passed |
| 2022 | 2022-05-18 | 135,189,780 | 3,525,691 | 1,251,313 | 97.46% | Passed |
| 2020 | 2020-05-13 | 70,815,355 | 935,250 | 208,527 | 98.7% | 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 | 2026-05-13 | 97.73%a |
| 2025 | 2025-05-14 | 97.57%b |
| 2024 | 2024-05-15 | 97.41%c |
a. Approved under the standard stated in the filing — “Abstentions and broker non-votes, which are not treated as votes cast, will therefore have no effect on the results of such vote.”.
b. Approved under the standard stated in the filing — “Abstentions and broker non-votes, which are not treated as votes cast, will therefore have no effect on the results of such vote.”.
c. Approved under the standard stated in the filing — “Abstentions and broker non-votes, which are not treated as votes cast, will therefore have no effect on the results of such vote.”.
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) | 80 : 1 |
|---|---|
| CEO total compensation | $5,266,937 |
| Median employee compensation | $65,620 |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Ned W. BrinesIndependent · Audit · Compensation (Chair) · Investment | $120,000 | $96,259 | $0 | $0 | $0 | $216,259 |
| DeForest B. Soaries, JrIndependent · Lead Independent Director · Compensation | 118,056 | 96,259 | 0 | 0 | 0 | 214,315 |
| Richard D. GebertIndependent · Audit (Chair) · Compensation | 115,000 | 96,259 | 0 | 0 | 0 | 211,259 |
| Melinda H. McClureIndependent · Nominating (Chair) · Audit | 112,500 | 96,259 | 0 | 0 | 0 | 208,759 |
| Lisa WashingtonIndependent · Compensation · Governance · Risk · Executive | 100,000 | 96,259 | 0 | 0 | 0 | 196,259 |
| Craig MacnabIndependent · Audit | 99,028 | 96,259 | 0 | 0 | 0 | 195,287 |
| Ana Marie del RioIndependent · Risk (Chair) | 95,000 | 96,259 | 0 | 0 | 0 | 191,259 |
| Scott F. SchaefferEmployee director · Board Chair | 0 | 0 | 0 | — | 0 | 0 |
| James J. SebraEmployee director · Partial-year service · Newly elected | 0 | 0 | 0 | — | 0 | 0 |
| Annual cash retainer | — |
|---|---|
| Annual equity retainer | — |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 15,000 / 12,500 / 5,000 |
| Stock ownership guideline | — |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $759,584 |
| Equity awards (grant-date value) | $673,813 |
| All other compensation | $0 |
| Total cost of the board | $1,433,397 |
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 | Independence Realty Trust, INC. | 2025 | Scott Schaeffer | $800,000 | $2,825,675 | $0 | $1,127,262 | $5,266,937 |
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.
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.
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, Scott Schaeffer | DEF 14A | 2026-03-19 | 0001437749-26-009071 | Section “Summary Compensation Table” · page 34. As printed: 5,266,937. Filing ↗machine: t171 · r1 · c25 · span 836781–836790 |
| 2 | Section 01, James Sebra | DEF 14A | 2026-03-19 | 0001437749-26-009071 | Section “Summary Compensation Table” · page 34. As printed: 2,477,308. Filing ↗machine: t171 · r5 · c25 · span 849711–849720 |
| 3 | Section 01, Michele Weisbaum | DEF 14A | 2026-03-19 | 0001437749-26-009071 | Section “Summary Compensation Table” · page 34. As printed: 1,357,290. Filing ↗machine: t171 · r13 · c25 · span 875517–875526 |
| 4 | Section 01, Jason Delozier | DEF 14A | 2026-03-19 | 0001437749-26-009071 | Section “Summary Compensation Table” · page 34. As printed: 1,016,264. Filing ↗machine: t171 · r9 · c25 · span 862621–862630 |
| 5 | Section 03, Scott Schaeffer RSU | DEF 14A | 2026-03-19 | 0001437749-26-009071 | Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t137 · r1 · c2 · span 763944–763950 |
| 6 | Section 03, Jason Delozier RSU | DEF 14A | 2026-03-19 | 0001437749-26-009071 | Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t137 · r3 · c2 · span 766180–766185 |
| 7 | Section 03, Michele Weisbaum RSU | DEF 14A | 2026-03-19 | 0001437749-26-009071 | Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t137 · r4 · c2 · span 767297–767302 |
| 8 | Section 03, Michele Weisbaum PSU | DEF 14A | 2026-03-19 | 0001437749-26-009071 | Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t137 · r4 · c4 · span 767564–767570 |
| 9 | Section 03, Jason Delozier PSU | DEF 14A | 2026-03-19 | 0001437749-26-009071 | Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t137 · r3 · c4 · span 766555–766561 |
| 10 | Section 03, James Sebra PSU | DEF 14A | 2026-03-19 | 0001437749-26-009071 | Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t137 · r2 · c4 · span 765437–765443 |
| 11 | Section 03, James Sebra RSU | DEF 14A | 2026-03-19 | 0001437749-26-009071 | Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t137 · r2 · c2 · span 765061–765067 |
| 12 | Section 03, Scott Schaeffer PSU | DEF 14A | 2026-03-19 | 0001437749-26-009071 | Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t137 · r1 · c4 · span 764320–764327 |
| 13 | Section 07, pay ratio | DEF 14A | 2026-03-19 | 0001437749-26-009071 | Section “CEO Pay Ratio”. As printed: 80 : 1. Filing ↗machine: span 1086851–1086864 |
| 14 | Section 08, Ned W. Brines | DEF 14A | 2026-03-19 | 0001437749-26-009071 | Section “Director Compensation”. As printed: 216,259. Filing ↗machine: t269 · r2 · c11 · span 1217036–1217043 |
| 15 | Section 08, DeForest B. Soaries, Jr | DEF 14A | 2026-03-19 | 0001437749-26-009071 | Section “Director Compensation”. As printed: 214,315. Filing ↗machine: r7 · c11 · span 1225194–1225201 |
| 16 | Section 08, Richard D. Gebert | DEF 14A | 2026-03-19 | 0001437749-26-009071 | Section “Director Compensation”. As printed: 211,259. Filing ↗machine: t269 · r3 · c11 · span 1218666–1218673 |
| 17 | Section 08, Melinda H. McClure | DEF 14A | 2026-03-19 | 0001437749-26-009071 | Section “Director Compensation”. As printed: 208,759. Filing ↗machine: t269 · r4 · c11 · span 1220297–1220304 |
| 18 | Section 08, Lisa Washington | DEF 14A | 2026-03-19 | 0001437749-26-009071 | Section “Director Compensation”. As printed: 196,259. Filing ↗machine: t269 · r8 · c11 · span 1226822–1226829 |
| 19 | Section 08, Craig Macnab | DEF 14A | 2026-03-19 | 0001437749-26-009071 | Section “Director Compensation”. As printed: 195,287. Filing ↗machine: t269 · r9 · c11 · span 1228446–1228453 |
| 20 | Section 08, Ana Marie del Rio | DEF 14A | 2026-03-19 | 0001437749-26-009071 | Section “Director Compensation”. As printed: 191,259. Filing ↗machine: t269 · r6 · c11 · span 1223553–1223560 |
| 21 | Section 08, Scott F. Schaeffer | DEF 14A | 2026-03-19 | 0001437749-26-009071 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 22 | Section 08, James J. Sebra | DEF 14A | 2026-03-19 | 0001437749-26-009071 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 23 | Section 02, Richard D. Gebert 2026-04-01 | Form 4 | 2026-04-01 | 0001437749-26-010924 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 24 | Section 02, Richard D. Gebert 2026-05-01 | Form 4 | 2026-05-01 | 0001437749-26-014512 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 25 | Section 02, Ned W. Brines 2026-05-13 | Form 4 | 2026-05-15 | 0001437749-26-017451 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 26 | Section 02, DeForest B. Soaries, Jr 2026-05-13 | Form 4 | 2026-05-15 | 0001437749-26-017455 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 27 | Section 02, Ned W. Brines 2026-05-13 | Form 4 | 2026-05-15 | 0001437749-26-017451 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 28 | Section 02, Craig Macnab 2026-05-13 | Form 4 | 2026-05-15 | 0001437749-26-017457 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 29 | Section 02, Melinda H. McClure 2026-05-13 | Form 4 | 2026-05-15 | 0001437749-26-017456 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 30 | Section 02, Richard D. Gebert 2026-05-13 | Form 4 | 2026-05-15 | 0001437749-26-017454 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 31 | Section 02, Ned W. Brines 2026-05-13 | Form 4 | 2026-05-15 | 0001437749-26-017451 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 32 | Section 02, Ned W. Brines 2026-05-13 | Form 4 | 2026-05-15 | 0001437749-26-017451 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 33 | Section 02, Ned W. Brines 2026-05-13 | Form 4 | 2026-05-15 | 0001437749-26-017451 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 34 | Section 02, Lisa Washington 2026-05-13 | Form 4 | 2026-05-15 | 0001437749-26-017453 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 35 | Section 02, Ned W. Brines 2026-05-13 | Form 4 | 2026-05-15 | 0001437749-26-017451 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 36 | Section 02, Ned W. Brines 2026-05-13 | Form 4 | 2026-05-15 | 0001437749-26-017451 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 37 | Section 02, Ana Marie del Rio 2026-05-13 | Form 4 | 2026-05-15 | 0001437749-26-017450 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 38 | Section 02, Ned W. Brines 2026-05-13 | Form 4 | 2026-05-15 | 0001437749-26-017451 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 39 | Section 02, Ned W. Brines 2026-05-13 | Form 4 | 2026-05-15 | 0001437749-26-017451 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 40 | Section 02, Richard D. Gebert 2026-06-01 | Form 4 | 2026-06-01 | 0001437749-26-019040 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 41 | Section 02, Richard D. Gebert 2026-07-01 | Form 4 | 2026-07-01 | 0001437749-26-022276 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 42 | Section 06, 2026 vote | Form 8-K | 2026-05-13 | 0001437749-26-016730 | Item 5.07 · say-on-pay result. As reported: 97.73% (votes for as printed: 193,704,256). Filing ↗ |
| 43 | Section 06, 2025 vote | Form 8-K | 2025-05-14 | 0001437749-25-016852 | Item 5.07 · say-on-pay result. As reported: 97.57% (votes for as printed: 186,264,202). Filing ↗ |
| 44 | Section 06, 2024 vote | Form 8-K | 2024-05-15 | 0001466085-24-000060 | Item 5.07 · say-on-pay result. As reported: 97.41% (votes for as printed: 175,754,683). Filing ↗ |
| 45 | 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) |
| 46 | 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 |
| 47 | Section 09b board cost (computed) | Computed | — | computed | Cash 759,584 + equity 673,813 + all other 0 = 1,433,397, summed across the director compensation table rows.machine: formula: Σ = 1,433,397 |
| 48 | Independence Realty Trust, INC. (subject), Section 10b CEO total | DEF 14A | 2026-03-19 | 0001437749-26-009071 | CEO total compensation as printed in Independence Realty Trust, INC.'s own proxy. As printed: 5,266,937. Filing ↗machine: t171 · r1 · c25 · span 836781–836790 |