Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-07-01

Independence Realty Trust, INC. (IRT)

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.

$5,266,937
Scott Schaeffer total, FY2025
40th
CEO pay percentile vs peers
80:1
CEO-to-median pay ratio
97.73%
Say-on-pay support, latest vote
Companies that benchmark against IRT
7 companies name IRT as a compensation peer

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.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
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 Sebra515,000289,6881,036,0620622,558014,0002,477,308
President, Chief Financial Officer and Treasurer
Michele Weisbaum400,000150,000470,9300322,360014,0001,357,290
General Counsel, Executive Vice President and Secretary
Jason Delozier330,000123,750282,5660265,947014,0001,016,264
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.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY20242025
Scott Schaeffer$5,266,937$5,034,440$4,846,528+232,497
James Sebra2,477,3082,162,7892,043,317+314,519
Michele Weisbaum1,357,2901,297,006+60,284
Jason Delozier1,016,264990,111+26,153

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

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
Richard D. GebertDirector2026-04-01D500$15$7,425CommonForm 4 ↗
Richard D. GebertDirector2026-05-01D500168,165CommonForm 4 ↗
Ned W. BrinesDirector2026-05-13A574179,620CommonForm 4 ↗
DeForest B. Soaries, JrDirector2026-05-13A6,19700CommonForm 4 ↗
Ned W. BrinesDirector2026-05-13A1616257CommonForm 4 ↗
Craig MacnabDirector2026-05-13A6,19700CommonForm 4 ↗
Melinda H. McClureDirector2026-05-13A6,19700CommonForm 4 ↗
Richard D. GebertDirector2026-05-13A6,19700CommonForm 4 ↗
Ned W. BrinesDirector2026-05-13A583169,515CommonForm 4 ↗
Ned W. BrinesDirector2026-05-13A604169,712CommonForm 4 ↗
Ned W. BrinesDirector2026-05-13A6,19700CommonForm 4 ↗
Lisa WashingtonDirector2026-05-13A6,19700CommonForm 4 ↗
Ned W. BrinesDirector2026-05-13A1517260CommonForm 4 ↗
Ned W. BrinesDirector2026-05-13A1616261CommonForm 4 ↗
Ana Marie del RioDirector2026-05-13A6,19700CommonForm 4 ↗
Ned W. BrinesDirector2026-05-13A1517251CommonForm 4 ↗
Ned W. BrinesDirector2026-05-13A545179,429CommonForm 4 ↗
Richard D. GebertDirector2026-06-01D500168,075CommonForm 4 ↗
Richard D. GebertDirector2026-07-01D500178,375CommonForm 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
Scott SchaefferRSU2025-02-0439,640$768,223
Jason DelozierRSU2025-02-043,96476,822
Michele WeisbaumRSU2025-02-046,606128,024
Michele WeisbaumPSU2025-02-049,91119,82029,732342,906
Jason DelozierPSU2025-02-045,94611,89217,839205,743
James SebraPSU2025-02-0421,80343,60465,410754,393
James SebraRSU2025-02-0414,534281,669
Scott SchaefferPSU2025-02-0459,464118,921178,3922,057,452
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Scott Schaeffer$768,223$2,057,452$072.8%
Jason Delozier76,822205,743072.8%
Michele Weisbaum128,024342,906072.8%
James Sebra281,669754,393072.8%

% 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
Scott SchaefferRSU73,682$1,287,961
Michele WeisbaumPSU19,820346,454
James SebraRSU12,508218,640
Jason DelozierRSU2,59045,273
Scott SchaefferRSU39,640692,907
James SebraRSU6,854119,808
Scott SchaefferPSU118,9212,078,739
Scott SchaefferRSU34,180597,466
James SebraRSU26,964471,331
Jason DelozierRSU3,96469,291
James SebraPSU75,0501,311,865
Scott SchaefferPSU205,0823,584,825
James SebraPSU43,604762,198
Michele WeisbaumPSU31,896557,542
Jason DelozierPSU15,542271,665
James SebraRSU14,534254,054
Scott SchaefferRSU7,108124,248
Jason DelozierRSU5,58497,608
Michele WeisbaumRSU5,31692,924
Jason DelozierRSU5659,876
Jason DelozierPSU11,892207,872
Michele WeisbaumRSU3,36858,873
James SebraRSU2,72047,546
Jason DelozierRSU1,42024,822
Scott SchaefferRSU18,727327,348
Michele WeisbaumRSU6,606115,473
05

Incentive-plan design — the Compensation Discussion & Analysis

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 consultantnot disclosed
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-13193,704,2564,503,190407,36297.73%Passed
20252025-05-14186,264,2024,630,492851,56797.57%Passed
20242024-05-15175,754,6834,667,062545,90197.41%Passed
20232023-05-10159,956,6845,089,991601,96196.92%Passed
20222022-05-18135,189,7803,525,6911,251,31397.46%Passed
20202020-05-1370,815,355935,250208,52798.7%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.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-05-1397.73%a
20252025-05-1497.57%b
20242024-05-1597.41%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.

07

CEO pay ratio

Ratio (CEO : median employee)80 : 1
CEO total compensation$5,266,937
Median employee compensation$65,620
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Ned W. BrinesIndependent · Audit · Compensation (Chair) · Investment$120,000$96,259$0$0$0$216,259
DeForest B. Soaries, JrIndependent · Lead Independent Director · Compensation118,05696,259000214,315
Richard D. GebertIndependent · Audit (Chair) · Compensation115,00096,259000211,259
Melinda H. McClureIndependent · Nominating (Chair) · Audit112,50096,259000208,759
Lisa WashingtonIndependent · Compensation · Governance · Risk · Executive100,00096,259000196,259
Craig MacnabIndependent · Audit99,02896,259000195,287
Ana Marie del RioIndependent · Risk (Chair)95,00096,259000191,259
Scott F. SchaefferEmployee director · Board Chair00000
James J. SebraEmployee director · Partial-year service · Newly elected00000
09

Board fee structure and ownership guideline

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
09b

Total cost of the board

ComponentFY2025
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.

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
1Independence Realty Trust, INC.2025Scott 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.

FAQ

Frequently asked questions

Who was the highest-paid executive at Independence Realty Trust, INC. in fiscal 2025?
Scott Schaeffer was the highest-paid executive at Independence Realty Trust, INC. in fiscal 2025.
How does Independence Realty Trust, INC.'s chief executive pay compare to its disclosed peer group?
The company reported that the CEO's pay was at the 40th percentile of disclosed peers.
What is Independence Realty Trust, INC.'s CEO-to-median employee pay ratio?
The filing shows the CEO-to-median employee pay ratio was 80:1.
How did shareholders vote on Independence Realty Trust, INC.'s executive compensation?
Shareholders voted 97.73% in support of the latest executive compensation plan.
How much does Independence Realty Trust, INC. spend in total on board compensation for fiscal 2025?
The total board compensation for fiscal 2025 was $1,433,397.

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, Scott SchaefferDEF 14A2026-03-190001437749-26-009071Section “Summary Compensation Table” · page 34. As printed: 5,266,937. Filing ↗machine: t171 · r1 · c25 · span 836781–836790
2Section 01, James SebraDEF 14A2026-03-190001437749-26-009071Section “Summary Compensation Table” · page 34. As printed: 2,477,308. Filing ↗machine: t171 · r5 · c25 · span 849711–849720
3Section 01, Michele WeisbaumDEF 14A2026-03-190001437749-26-009071Section “Summary Compensation Table” · page 34. As printed: 1,357,290. Filing ↗machine: t171 · r13 · c25 · span 875517–875526
4Section 01, Jason DelozierDEF 14A2026-03-190001437749-26-009071Section “Summary Compensation Table” · page 34. As printed: 1,016,264. Filing ↗machine: t171 · r9 · c25 · span 862621–862630
5Section 03, Scott Schaeffer RSUDEF 14A2026-03-190001437749-26-009071Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t137 · r1 · c2 · span 763944–763950
6Section 03, Jason Delozier RSUDEF 14A2026-03-190001437749-26-009071Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t137 · r3 · c2 · span 766180–766185
7Section 03, Michele Weisbaum RSUDEF 14A2026-03-190001437749-26-009071Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t137 · r4 · c2 · span 767297–767302
8Section 03, Michele Weisbaum PSUDEF 14A2026-03-190001437749-26-009071Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t137 · r4 · c4 · span 767564–767570
9Section 03, Jason Delozier PSUDEF 14A2026-03-190001437749-26-009071Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t137 · r3 · c4 · span 766555–766561
10Section 03, James Sebra PSUDEF 14A2026-03-190001437749-26-009071Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t137 · r2 · c4 · span 765437–765443
11Section 03, James Sebra RSUDEF 14A2026-03-190001437749-26-009071Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t137 · r2 · c2 · span 765061–765067
12Section 03, Scott Schaeffer PSUDEF 14A2026-03-190001437749-26-009071Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t137 · r1 · c4 · span 764320–764327
13Section 07, pay ratioDEF 14A2026-03-190001437749-26-009071Section “CEO Pay Ratio”. As printed: 80 : 1. Filing ↗machine: span 1086851–1086864
14Section 08, Ned W. BrinesDEF 14A2026-03-190001437749-26-009071Section “Director Compensation”. As printed: 216,259. Filing ↗machine: t269 · r2 · c11 · span 1217036–1217043
15Section 08, DeForest B. Soaries, JrDEF 14A2026-03-190001437749-26-009071Section “Director Compensation”. As printed: 214,315. Filing ↗machine: r7 · c11 · span 1225194–1225201
16Section 08, Richard D. GebertDEF 14A2026-03-190001437749-26-009071Section “Director Compensation”. As printed: 211,259. Filing ↗machine: t269 · r3 · c11 · span 1218666–1218673
17Section 08, Melinda H. McClureDEF 14A2026-03-190001437749-26-009071Section “Director Compensation”. As printed: 208,759. Filing ↗machine: t269 · r4 · c11 · span 1220297–1220304
18Section 08, Lisa WashingtonDEF 14A2026-03-190001437749-26-009071Section “Director Compensation”. As printed: 196,259. Filing ↗machine: t269 · r8 · c11 · span 1226822–1226829
19Section 08, Craig MacnabDEF 14A2026-03-190001437749-26-009071Section “Director Compensation”. As printed: 195,287. Filing ↗machine: t269 · r9 · c11 · span 1228446–1228453
20Section 08, Ana Marie del RioDEF 14A2026-03-190001437749-26-009071Section “Director Compensation”. As printed: 191,259. Filing ↗machine: t269 · r6 · c11 · span 1223553–1223560
21Section 08, Scott F. SchaefferDEF 14A2026-03-190001437749-26-009071Section “Director Compensation”. As printed: 0. Filing ↗
22Section 08, James J. SebraDEF 14A2026-03-190001437749-26-009071Section “Director Compensation”. As printed: 0. Filing ↗
23Section 02, Richard D. Gebert 2026-04-01Form 42026-04-010001437749-26-010924Insider equity transaction reported since the proxy statement. Filing ↗
24Section 02, Richard D. Gebert 2026-05-01Form 42026-05-010001437749-26-014512Insider equity transaction reported since the proxy statement. Filing ↗
25Section 02, Ned W. Brines 2026-05-13Form 42026-05-150001437749-26-017451Insider equity transaction reported since the proxy statement. Filing ↗
26Section 02, DeForest B. Soaries, Jr 2026-05-13Form 42026-05-150001437749-26-017455Insider equity transaction reported since the proxy statement. Filing ↗
27Section 02, Ned W. Brines 2026-05-13Form 42026-05-150001437749-26-017451Insider equity transaction reported since the proxy statement. Filing ↗
28Section 02, Craig Macnab 2026-05-13Form 42026-05-150001437749-26-017457Insider equity transaction reported since the proxy statement. Filing ↗
29Section 02, Melinda H. McClure 2026-05-13Form 42026-05-150001437749-26-017456Insider equity transaction reported since the proxy statement. Filing ↗
30Section 02, Richard D. Gebert 2026-05-13Form 42026-05-150001437749-26-017454Insider equity transaction reported since the proxy statement. Filing ↗
31Section 02, Ned W. Brines 2026-05-13Form 42026-05-150001437749-26-017451Insider equity transaction reported since the proxy statement. Filing ↗
32Section 02, Ned W. Brines 2026-05-13Form 42026-05-150001437749-26-017451Insider equity transaction reported since the proxy statement. Filing ↗
33Section 02, Ned W. Brines 2026-05-13Form 42026-05-150001437749-26-017451Insider equity transaction reported since the proxy statement. Filing ↗
34Section 02, Lisa Washington 2026-05-13Form 42026-05-150001437749-26-017453Insider equity transaction reported since the proxy statement. Filing ↗
35Section 02, Ned W. Brines 2026-05-13Form 42026-05-150001437749-26-017451Insider equity transaction reported since the proxy statement. Filing ↗
36Section 02, Ned W. Brines 2026-05-13Form 42026-05-150001437749-26-017451Insider equity transaction reported since the proxy statement. Filing ↗
37Section 02, Ana Marie del Rio 2026-05-13Form 42026-05-150001437749-26-017450Insider equity transaction reported since the proxy statement. Filing ↗
38Section 02, Ned W. Brines 2026-05-13Form 42026-05-150001437749-26-017451Insider equity transaction reported since the proxy statement. Filing ↗
39Section 02, Ned W. Brines 2026-05-13Form 42026-05-150001437749-26-017451Insider equity transaction reported since the proxy statement. Filing ↗
40Section 02, Richard D. Gebert 2026-06-01Form 42026-06-010001437749-26-019040Insider equity transaction reported since the proxy statement. Filing ↗
41Section 02, Richard D. Gebert 2026-07-01Form 42026-07-010001437749-26-022276Insider equity transaction reported since the proxy statement. Filing ↗
42Section 06, 2026 voteForm 8-K2026-05-130001437749-26-016730Item 5.07 · say-on-pay result. As reported: 97.73% (votes for as printed: 193,704,256). Filing ↗
43Section 06, 2025 voteForm 8-K2025-05-140001437749-25-016852Item 5.07 · say-on-pay result. As reported: 97.57% (votes for as printed: 186,264,202). Filing ↗
44Section 06, 2024 voteForm 8-K2024-05-150001466085-24-000060Item 5.07 · say-on-pay result. As reported: 97.41% (votes for as printed: 175,754,683). Filing ↗
45Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
46Section 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
47Section 09b board cost (computed)ComputedcomputedCash 759,584 + equity 673,813 + all other 0 = 1,433,397, summed across the director compensation table rows.machine: formula: Σ = 1,433,397
48Independence Realty Trust, INC. (subject), Section 10b CEO totalDEF 14A2026-03-190001437749-26-009071CEO 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