Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-07-27

InvenTrust Properties Corp. (IVT)

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.

$7,597,244
Daniel Busch total, FY2025
67th
CEO pay percentile vs peers
52.9:1
CEO-to-median pay ratio
97.38%
Say-on-pay support, latest vote
Companies that benchmark against IVT
15 companies name IVT as a compensation peer

Each company listed discloses IVT 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 IVT 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
Daniel Busch$950,000$0$4,627,084$0$2,012,813$0$7,347$7,597,244
President and Chief Executive Officer
Christy David575,00001,610,3770925,75007,3223,118,449
Executive Vice President, Chief Operating Officer, General Counsel and Secretary
Michael Phillips525,00001,470,3200845,25007,2772,847,847
Executive Vice President, Chief Financial Officer and Treasurer
Lauren Suva300,0000365,2940357,00007,0761,029,370
Executive Vice President, Chief Administrative 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
Daniel Busch$7,597,244$6,095,649$5,600,991+1,501,595
Christy David3,118,4492,988,1282,780,654+130,321
Michael Phillips2,847,8472,702,7342,516,731+145,113
Lauren Suva1,029,370

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
Smita N. ShahDirector2026-05-05A4,352$0$0Derivative, Class A CommonForm 4 ↗
Stuart W. AitkenDirector2026-05-05D4,37200Derivative, Class A CommonForm 4 ↗
Julian E. WhitehurstDirector2026-05-05A4,37200CommonForm 4 ↗
Scott A. NelsonDirector2026-05-05A4,35200Derivative, Class A CommonForm 4 ↗
Julie M. SwinehartDirector2026-05-05A4,37200CommonForm 4 ↗
Paula J. SabanDirector2026-05-05A4,35200Derivative, Class A CommonForm 4 ↗
Julian E. WhitehurstDirector2026-05-05D4,37200Derivative, Class A CommonForm 4 ↗
Scott A. NelsonDirector2026-05-05D4,37200Derivative, Class A CommonForm 4 ↗
Amanda E. BlackDirector2026-05-05A4,37200CommonForm 4 ↗
Paula J. SabanDirector2026-05-05A4,37200CommonForm 4 ↗
Amanda E. BlackDirector2026-05-05D4,37200Derivative, Class A CommonForm 4 ↗
Amanda E. BlackDirector2026-05-05A4,35200Derivative, Class A CommonForm 4 ↗
Scott A. NelsonDirector2026-05-05A4,37200CommonForm 4 ↗
Stuart W. AitkenDirector2026-05-05A4,35200Derivative, Class A CommonForm 4 ↗
Julie M. SwinehartDirector2026-05-05D4,37200Derivative, Class A CommonForm 4 ↗
Julie M. SwinehartDirector2026-05-05A4,35200Derivative, Class A CommonForm 4 ↗
Smita N. ShahDirector2026-05-05D4,37200Derivative, Class A CommonForm 4 ↗
Paula J. SabanDirector2026-05-05D4,37200Derivative, Class A CommonForm 4 ↗
Smita N. ShahDirector2026-05-05A4,37200CommonForm 4 ↗
Stuart W. AitkenDirector2026-05-05A4,37200CommonForm 4 ↗
Julian E. WhitehurstDirector2026-05-05A4,35200Derivative, Class A CommonForm 4 ↗
Lauren SuvaEVP, Chief Administrative Off.2026-07-24D63372,310CommonForm 4 ↗
Lauren SuvaEVP, Chief Administrative Off.2026-07-24A75000CommonForm 4 ↗
Daniel BuschDirector2026-07-24D81372,970CommonForm 4 ↗
David BrysonSVP, Chief Accounting Officer2026-07-24A75000CommonForm 4 ↗
David BrysonSVP, Chief Accounting Officer2026-07-24D58372,127CommonForm 4 ↗
Christy DavidEVP, COO, GC & Sec.2026-07-24D79372,897CommonForm 4 ↗
Michael PhillipsE.V.P., C.F.O. & Treasurer2026-07-24A75000CommonForm 4 ↗
Christy DavidEVP, COO, GC & Sec.2026-07-24A75000CommonForm 4 ↗
Daniel BuschDirector2026-07-24A75000CommonForm 4 ↗
Michael PhillipsE.V.P., C.F.O. & Treasurer2026-07-24D78372,860CommonForm 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
Michael PhillipsRSU2025-02-1813,345$398,482
Daniel BuschRSU2025-02-1841,9961,254,001
Daniel BuschPSU2025-02-1842,63385,265170,5303,373,083
Christy DavidRSU2025-02-1814,616436,434
Michael PhillipsPSU2025-02-1813,54727,09454,1881,071,839
Lauren SuvaRSU2025-02-183,31699,016
Lauren SuvaPSU2025-02-183,3666,73113,462266,278
Christy DavidPSU2025-02-1814,83829,67559,3501,173,943
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Michael Phillips$398,482$1,071,839$072.9%
Daniel Busch1,254,0013,373,083072.9%
Christy David436,4341,173,943072.9%
Lauren Suva99,016266,278072.9%

% 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
Daniel BuschRSU135,391$3,819,380
Christy DavidRSU158,343
Lauren SuvaRSU26,912
Lauren SuvaPSU321,368
Daniel BuschRSU337,928
Daniel BuschPSU4,035,779
Daniel BuschPSU4,810,651
Christy DavidPSU1,890,803
Christy DavidRSU276,261
Christy DavidPSU1,674,264
Michael PhillipsRSU143,927
Michael PhillipsPSU1,718,948
Michael PhillipsRSU252,226
Michael PhillipsPSU1,528,643
Lauren SuvaRSU62,683
Lauren SuvaPSU379,763
Lauren SuvaRSU10,354292,086
Daniel BuschRSU793,745
Christy DavidRSU64,1121,808,600
Michael PhillipsRSU58,0071,636,377
05

Incentive-plan design — the Compensation Discussion & Analysis

Our executive compensation program is designed to provide a total compensation package intended to align executive compensation with the Company's performance and with stockholder interests, and to attract, motivate and retain talented and experienced executive officers through competitive compensation arrangements.

CEO STI target (% of salary)150%
CEO LTI target (% of salary)
Independent consultantFerguson Partners Consulting
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-0551,900,0811,397,981308,08997.38%Passed
20252025-05-0645,934,5862,512,547321,05494.81%Passed
20242024-05-0736,363,6571,515,529357,43096%Passed
20232023-05-0433,033,0221,897,834366,59593.58%Passed
20212021-05-06113,360,59618,302,09911,735,07086.1%Passed
20182018-05-09193,663,77335,826,87426,622,06484.39%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
20262026-05-0597.38%a
20252025-05-0694.81%b
20242024-05-0796%c

a. Voting standard not stated in the filing.

b. Voting standard not stated in the filing.

c. Voting standard not stated in the filing.

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)52.9 : 1
CEO total compensation$7,597,244
Median employee compensation$143,750
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Julian E. WhitehurstIndependent · Board Chair · Compensation$140,000$120,000$0$0$0$260,000
Paula J. SabanIndependent · Compensation91,250120,000000211,250
Amanda E. BlackIndependent · Audit (Chair)90,000120,000000210,000
Smita N. ShahIndependent · Audit87,500120,000000207,500
Stuart W. AitkenIndependent · Compensation (Chair)85,000120,000000205,000
Scott A. NelsonIndependent · Nominating & Corporate Governance (Chair)85,000120,000000205,000
Julie M. SwinehartIndependent · Audit · Compensation · Partial-year service · Newly elected43,750120,000000163,750
Thomas F. GlavinIndependent · Audit · Departed during FY46,87500046,875
Michael A. SteinIndependent · Audit · Compensation · Departed during FY46,87500046,875
Daniel J. BuschEmployee director00000
09

Board fee structure and ownership guideline

Annual cash retainer$65,000
Annual equity retainer$120,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)25,000 / 20,000 / 20,000
Stock ownership guideline
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$716,250
Equity awards (grant-date value)$840,000
All other compensation$0
Total cost of the board$1,556,250

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
1InvenTrust Properties Corp.2025Daniel Busch$950,000$4,627,084$0$2,012,813$7,597,244

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 InvenTrust Properties Corp. in fiscal 2025?
Daniel Busch, President and Chief Executive Officer, was the highest-paid executive at InvenTrust Properties Corp. in fiscal 2025 with total compensation of $7,597,244.
How does InvenTrust Properties Corp.'s chief executive pay compare to its disclosed peer group?
The CEO's pay placed him in the 67th percentile of the disclosed peer group.
What is InvenTrust Properties Corp.'s CEO-to-median employee pay ratio?
The CEO-to-median employee pay ratio was 52.9:1.
How did shareholders vote on InvenTrust Properties Corp.'s executive compensation?
Shareholders approved the executive compensation plan with 97.38% support in the latest vote.
How much does InvenTrust Properties Corp. spend in total on board compensation for fiscal 2025?
Total board compensation for fiscal 2025 was $1,556,250.

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, Daniel BuschDEF 14A2026-03-190001307748-26-000097Section “Executive Compensation Tables” · page 44. As printed: 7,597,244. Filing ↗machine: t86 · r3 · c7 · span 1486834–1486843
2Section 01, Christy DavidDEF 14A2026-03-190001307748-26-000097Section “Executive Compensation Tables” · page 44. As printed: 3,118,449. Filing ↗machine: t86 · r8 · c7 · span 1499810–1499819
3Section 01, Michael PhillipsDEF 14A2026-03-190001307748-26-000097Section “Executive Compensation Tables” · page 44. As printed: 2,847,847. Filing ↗machine: t86 · r14 · c7 · span 1513622–1513631
4Section 01, Lauren SuvaDEF 14A2026-03-190001307748-26-000097Section “Executive Compensation Tables” · page 44. As printed: 1,029,370. Filing ↗machine: t86 · r19 · c7 · span 1526593–1526602
5Section 03, Michael Phillips RSUDEF 14A2026-03-190001307748-26-000097Section “Grants of Plan-Based Awards in 2025 ...........................................................” · grants of plan-based awards table. Filing ↗machine: t89 · r15 · c7 · span 1605867–1605873
6Section 03, Daniel Busch RSUDEF 14A2026-03-190001307748-26-000097Section “Grants of Plan-Based Awards in 2025 ...........................................................” · grants of plan-based awards table. Filing ↗machine: t89 · r5 · c7 · span 1576119–1576125
7Section 03, Daniel Busch PSUDEF 14A2026-03-190001307748-26-000097Section “Grants of Plan-Based Awards in 2025 ...........................................................” · grants of plan-based awards table. Filing ↗machine: t89 · r6 · c5 · span 1579256–1579262
8Section 03, Christy David RSUDEF 14A2026-03-190001307748-26-000097Section “Grants of Plan-Based Awards in 2025 ...........................................................” · grants of plan-based awards table. Filing ↗machine: t89 · r10 · c7 · span 1591004–1591010
9Section 03, Michael Phillips PSUDEF 14A2026-03-190001307748-26-000097Section “Grants of Plan-Based Awards in 2025 ...........................................................” · grants of plan-based awards table. Filing ↗machine: t89 · r16 · c5 · span 1609230–1609236
10Section 03, Lauren Suva RSUDEF 14A2026-03-190001307748-26-000097Section “Grants of Plan-Based Awards in 2025 ...........................................................” · grants of plan-based awards table. Filing ↗machine: t89 · r20 · c7 · span 1620653–1620658
11Section 03, Lauren Suva PSUDEF 14A2026-03-190001307748-26-000097Section “Grants of Plan-Based Awards in 2025 ...........................................................” · grants of plan-based awards table. Filing ↗machine: t89 · r21 · c5 · span 1623808–1623813
12Section 03, Christy David PSUDEF 14A2026-03-190001307748-26-000097Section “Grants of Plan-Based Awards in 2025 ...........................................................” · grants of plan-based awards table. Filing ↗machine: t89 · r11 · c5 · span 1594162–1594168
13Section 07, pay ratioDEF 14A2026-03-190001307748-26-000097Section “CEO Pay Ratio”. As printed: 52.9 : 1. Filing ↗machine: span 1862703–1862710
14Section 08, Julian E. WhitehurstDEF 14A2026-03-190001307748-26-000097Section “Director Compensation”. As printed: 260,000. Filing ↗machine: t56 · r10 · c3 · span 987041–987049
15Section 08, Paula J. SabanDEF 14A2026-03-190001307748-26-000097Section “Director Compensation”. As printed: 211,250. Filing ↗machine: t56 · r6 · c3 · span 978266–978274
16Section 08, Amanda E. BlackDEF 14A2026-03-190001307748-26-000097Section “Director Compensation”. As printed: 210,000. Filing ↗machine: t56 · r3 · c3 · span 971787–971795
17Section 08, Smita N. ShahDEF 14A2026-03-190001307748-26-000097Section “Director Compensation”. As printed: 207,500. Filing ↗machine: t56 · r7 · c3 · span 980368–980376
18Section 08, Stuart W. AitkenDEF 14A2026-03-190001307748-26-000097Section “Director Compensation”. As printed: 205,000. Filing ↗machine: t56 · r2 · c3 · span 969687–969695
19Section 08, Scott A. NelsonDEF 14A2026-03-190001307748-26-000097Section “Director Compensation”. As printed: 205,000. Filing ↗machine: t56 · r5 · c3 · span 976159–976167
20Section 08, Julie M. SwinehartDEF 14A2026-03-190001307748-26-000097Section “Director Compensation”. As printed: 163,750. Filing ↗machine: t56 · r9 · c3 · span 984927–984935
21Section 08, Thomas F. GlavinDEF 14A2026-03-190001307748-26-000097Section “Director Compensation”. As printed: 46,875. Filing ↗machine: t56 · r4 · c1 · span 973023–973029
22Section 08, Michael A. SteinDEF 14A2026-03-190001307748-26-000097Section “Director Compensation”. As printed: 46,875. Filing ↗machine: t56 · r8 · c1 · span 981606–981612
23Section 08, Daniel J. BuschDEF 14A2026-03-190001307748-26-000097Section “Director Compensation”. As printed: 0. Filing ↗
24Section 02, Smita N. Shah 2026-05-05Form 42026-05-070001307748-26-000150Insider equity transaction reported since the proxy statement. Filing ↗
25Section 02, Stuart W. Aitken 2026-05-05Form 42026-05-070001307748-26-000140Insider equity transaction reported since the proxy statement. Filing ↗
26Section 02, Julian E. Whitehurst 2026-05-05Form 42026-05-070001307748-26-000146Insider equity transaction reported since the proxy statement. Filing ↗
27Section 02, Scott A. Nelson 2026-05-05Form 42026-05-070001307748-26-000142Insider equity transaction reported since the proxy statement. Filing ↗
28Section 02, Julie M. Swinehart 2026-05-05Form 42026-05-070001307748-26-000152Insider equity transaction reported since the proxy statement. Filing ↗
29Section 02, Paula J. Saban 2026-05-05Form 42026-05-070001307748-26-000148Insider equity transaction reported since the proxy statement. Filing ↗
30Section 02, Julian E. Whitehurst 2026-05-05Form 42026-05-070001307748-26-000146Insider equity transaction reported since the proxy statement. Filing ↗
31Section 02, Scott A. Nelson 2026-05-05Form 42026-05-070001307748-26-000142Insider equity transaction reported since the proxy statement. Filing ↗
32Section 02, Amanda E. Black 2026-05-05Form 42026-05-070001307748-26-000144Insider equity transaction reported since the proxy statement. Filing ↗
33Section 02, Paula J. Saban 2026-05-05Form 42026-05-070001307748-26-000148Insider equity transaction reported since the proxy statement. Filing ↗
34Section 02, Amanda E. Black 2026-05-05Form 42026-05-070001307748-26-000144Insider equity transaction reported since the proxy statement. Filing ↗
35Section 02, Amanda E. Black 2026-05-05Form 42026-05-070001307748-26-000144Insider equity transaction reported since the proxy statement. Filing ↗
36Section 02, Scott A. Nelson 2026-05-05Form 42026-05-070001307748-26-000142Insider equity transaction reported since the proxy statement. Filing ↗
37Section 02, Stuart W. Aitken 2026-05-05Form 42026-05-070001307748-26-000140Insider equity transaction reported since the proxy statement. Filing ↗
38Section 02, Julie M. Swinehart 2026-05-05Form 42026-05-070001307748-26-000152Insider equity transaction reported since the proxy statement. Filing ↗
39Section 02, Julie M. Swinehart 2026-05-05Form 42026-05-070001307748-26-000152Insider equity transaction reported since the proxy statement. Filing ↗
40Section 02, Smita N. Shah 2026-05-05Form 42026-05-070001307748-26-000150Insider equity transaction reported since the proxy statement. Filing ↗
41Section 02, Paula J. Saban 2026-05-05Form 42026-05-070001307748-26-000148Insider equity transaction reported since the proxy statement. Filing ↗
42Section 02, Smita N. Shah 2026-05-05Form 42026-05-070001307748-26-000150Insider equity transaction reported since the proxy statement. Filing ↗
43Section 02, Stuart W. Aitken 2026-05-05Form 42026-05-070001307748-26-000140Insider equity transaction reported since the proxy statement. Filing ↗
44Section 02, Julian E. Whitehurst 2026-05-05Form 42026-05-070001307748-26-000146Insider equity transaction reported since the proxy statement. Filing ↗
45Section 02, Lauren Suva 2026-07-24Form 42026-07-270001307748-26-000176Insider equity transaction reported since the proxy statement. Filing ↗
46Section 02, Lauren Suva 2026-07-24Form 42026-07-270001307748-26-000176Insider equity transaction reported since the proxy statement. Filing ↗
47Section 02, Daniel Busch 2026-07-24Form 42026-07-270001307748-26-000178Insider equity transaction reported since the proxy statement. Filing ↗
48Section 02, David Bryson 2026-07-24Form 42026-07-270001307748-26-000175Insider equity transaction reported since the proxy statement. Filing ↗
49Section 02, David Bryson 2026-07-24Form 42026-07-270001307748-26-000175Insider equity transaction reported since the proxy statement. Filing ↗
50Section 02, Christy David 2026-07-24Form 42026-07-270001307748-26-000179Insider equity transaction reported since the proxy statement. Filing ↗
51Section 02, Michael Phillips 2026-07-24Form 42026-07-270001307748-26-000177Insider equity transaction reported since the proxy statement. Filing ↗
52Section 02, Christy David 2026-07-24Form 42026-07-270001307748-26-000179Insider equity transaction reported since the proxy statement. Filing ↗
53Section 02, Daniel Busch 2026-07-24Form 42026-07-270001307748-26-000178Insider equity transaction reported since the proxy statement. Filing ↗
54Section 02, Michael Phillips 2026-07-24Form 42026-07-270001307748-26-000177Insider equity transaction reported since the proxy statement. Filing ↗
55Section 06, 2026 voteForm 8-K2026-05-060001307748-26-000138Item 5.07 · say-on-pay result. As reported: 97.38% (votes for as printed: 51,900,081). Filing ↗
56Section 06, 2025 voteForm 8-K2025-05-090001307748-25-000112Item 5.07 · say-on-pay result. As reported: 94.81% (votes for as printed: 45,934,586). Filing ↗
57Section 06, 2024 voteForm 8-K2024-05-100001307748-24-000065Item 5.07 · say-on-pay result. As reported: 96% (votes for as printed: 36,363,657). Filing ↗
58Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
59Section 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
60Section 09b board cost (computed)ComputedcomputedCash 716,250 + equity 840,000 + all other 0 = 1,556,250, summed across the director compensation table rows.machine: formula: Σ = 1,556,250
61InvenTrust Properties Corp. (subject), Section 10b CEO totalDEF 14A2026-03-190001307748-26-000097CEO total compensation as printed in InvenTrust Properties Corp.'s own proxy. As printed: 7,597,244. Filing ↗machine: t86 · r3 · c7 · span 1486834–1486843