CEO Matthew Salem was paid $688,188 in fiscal year 2025, ↓ down 24.8% from fiscal year 2024 (SEC filing 0001140361-26-007573 ↗): 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.
$802,386 Kendra Decious total, FY2025 Chief Financial Officer and Treasurer — highest-paid officer; CEO Matthew Salem: $688,188 | — CEO (Matthew Salem) pay percentile vs peers | — CEO-to-median pay ratio | 96.05% Say-on-pay support, latest vote |
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| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Kendra Decious | $183,133 | $401,190 | $203,280 | $0 | $0 | $0 | $14,783 | $802,386 |
| Chief Financial Officer and Treasurer | ||||||||
| Matthew Salem | 0 | 0 | 688,188 | 0 | 0 | 0 | 0 | 688,188 |
| Chief Executive Officer | ||||||||
| W. Patrick Mattson | 0 | 0 | 622,545 | 0 | 0 | 0 | 0 | 622,545 |
| President, Chief Operating Officer and Secretary | ||||||||
| Kelly Galligan | 0 | 0 | 55,055 | 0 | 0 | 0 | 0 | 55,055 |
| Former General Counsel and Secretary | ||||||||
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 |
|---|---|---|---|---|
| Kendra Decious | $802,386 | $725,391 | $996,917 | ↑ +76,995 |
| Matthew Salem | 688,188 | 915,688 | 1,027,088 | ↓ −227,500 |
| W. Patrick Mattson | 622,545 | 828,345 | 922,695 | ↓ −205,800 |
| Kelly Galligan | 55,055 | 39,445 | — | ↑ +15,610 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
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$802,386 Kendra Decious total, FY2025
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Data as of October 5, 2026 · Source: 0001140361-26-007573 · Velarion Executive Compensation Database, deposited on Zenodo (doi:10.5281/zenodo.22283855).
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One page per officer: the same table above, read for one person at a time — his own figure and every fiscal year the register holds.
| Executive | Role | FY2025 total |
|---|---|---|
| Kelly Galligan | General Counsel | $55,055 |
| Kendra Decious | CFO | $802,386 |
| Matthew Salem | CEO | $688,188 |
| W. Patrick Mattson | President | $622,545 |
One page per director: the seat, the committees and the fee table, read for one person at a time.
| Director | Role | FY2025 total |
|---|---|---|
| Christen E.J. Lee | Director | — |
| Deborah H. McAneny | Lead Independent Director | $275,000 |
| Irene M. Esteves | Independent Director | $245,000 |
| Jonathan A. Langer | Independent Director | $240,000 |
| Paula Madoff | Independent Director | $247,500 |
| Ralph F. Rosenberg | Chair of the Board | — |
| Terrance R. Ahern | Independent Director | $227,500 |
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 |
|---|---|---|---|---|---|---|---|---|
| Terrance R. Ahern | Director | 2026-04-14 | A | 16,691 | $0 | $0 | Common | Form 4 ↗ |
| Paula Madoff | Director | 2026-04-14 | A | 16,691 | 0 | 0 | Common | Form 4 ↗ |
| Deborah H. McAneny | Director | 2026-04-14 | A | 16,691 | 0 | 0 | Common | Form 4 ↗ |
| Jonathan A. Langer | Director | 2026-04-14 | A | 16,691 | 0 | 0 | Common | Form 4 ↗ |
| Irene M. Esteves | Director | 2026-04-14 | A | 16,691 | 0 | 0 | Common | Form 4 ↗ |
| W. Patrick Mattson | President, COO and Secretary | 2026-04-24 | A | 40,000 | 6 | 241,072 | Common | Form 4 ↗ |
| Matthew A. Salem | Director | 2026-04-24 | A | 60,000 | 6 | 362,472 | Common | Form 4 ↗ |
| Kendra Decious | CFO and Treasurer | 2026-10-01 | D | 9,672 | 6 | 60,063 | Common | Form 4 ↗ |
| Christen E.J. Lee | Director | 2026-10-01 | D | 3,358 | 6 | 20,853 | 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 |
|---|---|---|---|---|---|---|---|
| Matthew Salem | RSU | 2025-12-18 | — | — | 81,250 | — | $688,188 |
| W. Patrick Mattson | RSU | 2025-12-18 | — | — | 73,500 | — | 622,545 |
| Kelly Galligan | RSU | 2025-12-18 | — | — | 6,500 | — | 55,055 |
| Kendra Decious | RSU | 2025-12-18 | — | — | 24,000 | — | 203,280 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Matthew Salem | $688,188 | $0 | $0 | 0.0% |
| W. Patrick Mattson | 622,545 | 0 | 0 | 0.0% |
| Kelly Galligan | 55,055 | 0 | 0 | 0.0% |
| Kendra Decious | 203,280 | 0 | 0 | 0.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| W. Patrick Mattson | RSU | 145,334 | — | $1,194,645 |
| Kelly Galligan | RSU | 8,833 | — | 72,607 |
| Matthew Salem | RSU | 160,834 | — | 1,322,055 |
| Kendra Decious | RSU | 48,000 | — | 394,560 |
These awards are designed to align the interests of our Named Executive Officers with those of our stockholders, by allowing our Named Executive Officers to share in the creation of value for our stockholders through capital appreciation and dividends.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Ferguson Partners Consulting, L.P. (FPL) |
| Clawback policy | True |
| Anti-hedging | True |
| Anti-pledging | True |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-04-14 | 37,405,184 | 1,539,699 | 119,175 | 96.05% | Passed |
| 2025 | 2025-04-25 | 44,235,862 | 2,294,862 | 138,635 | 95.07% | Passed |
| 2024 | 2024-04-19 | 44,007,798 | 1,340,659 | 159,193 | 97.04% | Passed |
| 2023 | 2023-04-21 | 45,472,631 | 1,561,265 | 174,905 | 96.68% | Passed |
| 2022 | 2022-04-22 | 41,350,115 | 1,156,378 | 138,657 | 97.28% | 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 | 2026-04-14 | 96.05%a |
| 2025 | 2025-04-25 | 95.07%b |
| 2024 | 2024-04-19 | 97.04%c |
a. Approved under the standard stated in the filing — “With respect to the non-binding vote on executive compensation (Proposal 3), you may vote "FOR," "AGAINST" or "ABSTAIN." For Proposal 3, abstentions and "broker non-votes" are not considered votes cast and will not affect the outcome of this proposal.”.
b. Approved under the standard stated in the filing — “With respect to the non-binding vote on executive compensation (Proposal 3), you may vote "FOR," "AGAINST" or "ABSTAIN." For Proposal 3, abstentions and "broker non-votes" are not considered votes cast and will not affect the outcome of this proposal.”.
c. Approved under the standard stated in the filing — “With respect to the non-binding vote on executive compensation (Proposal 3), you may vote "FOR," "AGAINST" or "ABSTAIN." For Proposal 3, abstentions and "broker non-votes" are not considered votes cast and will not affect the outcome of this proposal.”.
Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.
| Ratio (CEO : median employee) | — |
|---|---|
| CEO total compensation | — |
| Median employee compensation | — |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Deborah H. McAnenyIndependent · Lead Independent Director · Audit Committee (Chair) · Nominating and Corporate Governance Committee · Affiliate Transaction Committee | $165,000 | $110,000 | $0 | — | $0 | $275,000 |
| Paula MadoffIndependent · Audit Committee · Compensation Committee · Affiliate Transaction Committee (Chair) | 137,500 | 110,000 | 0 | — | 0 | 247,500 |
| Irene M. EstevesIndependent · Audit Committee · Nominating and Corporate Governance Committee (Chair) · Affiliate Transaction Committee | 135,000 | 110,000 | 0 | — | 0 | 245,000 |
| Jonathan A. LangerIndependent · Compensation Committee · Affiliate Transaction Committee | 130,000 | 110,000 | 0 | — | 0 | 240,000 |
| Terrance R. AhernIndependent · Compensation Committee · Nominating and Corporate Governance Committee | 117,500 | 110,000 | 0 | — | 0 | 227,500 |
| Christen E.J. LeeEmployee director | 0 | 0 | 0 | — | 0 | 0 |
| Matthew A. SalemEmployee director | 0 | 0 | 0 | — | 0 | 0 |
| Ralph F. RosenbergEmployee director · Board Chair | 0 | 0 | 0 | — | 0 | 0 |
| Annual cash retainer | $105,000 |
|---|---|
| Annual equity retainer | $110,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 20,000 / 15,000 / 10,000 |
| Stock ownership guideline | 3x annual cash retainer |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $685,000 |
| Equity awards (grant-date value) | $550,000 |
| All other compensation | $0 |
| Total cost of the board | $1,235,000 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | KKR Real Estate Finance Trust Inc. | 2025 | Matthew Salem | $0 | $688,188 | $0 | $0 | $688,188 |
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, Kendra Decious | DEF 14A | 2026-03-03 | 0001140361-26-007573 | Section “Summary Compensation Table”. As printed: 802,386. Filing ↗machine: r10 · c27 · span 404575–404582 |
| 2 | Section 01, Matthew Salem | DEF 14A | 2026-03-03 | 0001140361-26-007573 | Section “Summary Compensation Table” · page 28. As printed: 688,188. Filing ↗machine: r2 · c27 · span 361601–361608 |
| 3 | Section 01, W. Patrick Mattson | DEF 14A | 2026-03-03 | 0001140361-26-007573 | Section “Summary Compensation Table” · page 28. As printed: 622,545. Filing ↗machine: r6 · c27 · span 381637–381644 |
| 4 | Section 01, Kelly Galligan | DEF 14A | 2026-03-03 | 0001140361-26-007573 | Section “Summary Compensation Table” · page 28. As printed: 55,055. Filing ↗machine: r14 · c27 · span 421507–421513 |
| 5 | Section 03, Matthew Salem RSU | DEF 14A | 2026-03-03 | 0001140361-26-007573 | Section “Grants of Plan Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t60 · r2 · c9 · span 438050–438057 |
| 6 | Section 03, W. Patrick Mattson RSU | DEF 14A | 2026-03-03 | 0001140361-26-007573 | Section “Grants of Plan Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t60 · r3 · c9 · span 439786–439793 |
| 7 | Section 03, Kelly Galligan RSU | DEF 14A | 2026-03-03 | 0001140361-26-007573 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t60 · r5 · c9 · span 443496–443502 |
| 8 | Section 03, Kendra Decious RSU | DEF 14A | 2026-03-03 | 0001140361-26-007573 | Section “Grants of Plan Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t60 · r4 · c9 · span 441788–441795 |
| 9 | Section 07, pay ratio | DEF 14A | 2026-03-03 | 0001140361-26-007573 | Section “CEO Pay Ratio”. As printed: —. Filing ↗ |
| 10 | Section 08, Deborah H. McAneny | DEF 14A | 2026-03-03 | 0001140361-26-007573 | Section “Director Compensation”. As printed: 275,000. Filing ↗machine: t47 · r7 · c9 · span 269674–269837 |
| 11 | Section 08, Paula Madoff | DEF 14A | 2026-03-03 | 0001140361-26-007573 | Section “Director Compensation”. As printed: 247,500. Filing ↗machine: t47 · r6 · c9 · span 268077–268240 |
| 12 | Section 08, Irene M. Esteves | DEF 14A | 2026-03-03 | 0001140361-26-007573 | Section “Director Compensation”. As printed: 245,000. Filing ↗machine: t47 · r3 · c9 · span 262739–262902 |
| 13 | Section 08, Jonathan A. Langer | DEF 14A | 2026-03-03 | 0001140361-26-007573 | Section “Director Compensation”. As printed: 240,000. Filing ↗machine: t47 · r4 · c9 · span 264606–264769 |
| 14 | Section 08, Terrance R. Ahern | DEF 14A | 2026-03-03 | 0001140361-26-007573 | Section “Director Compensation”. As printed: 227,500. Filing ↗machine: t47 · r2 · c9 · span 261144–261307 |
| 15 | Section 08, Christen E.J. Lee | DEF 14A | 2026-03-03 | 0001140361-26-007573 | Section “Director Compensation”. As printed: 0. Filing ↗machine: t47 · r5 · c9 · span 266338–266340 |
| 16 | Section 08, Matthew A. Salem | DEF 14A | 2026-03-03 | 0001140361-26-007573 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 17 | Section 08, Ralph F. Rosenberg | DEF 14A | 2026-03-03 | 0001140361-26-007573 | Section “Director Compensation”. As printed: 0. Filing ↗machine: t47 · r8 · c9 · span 271581–271583 |
| 18 | Section 02, Terrance R. Ahern 2026-04-14 | Form 4 | 2026-04-16 | 0001140361-26-015159 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 19 | Section 02, Paula Madoff 2026-04-14 | Form 4 | 2026-04-16 | 0001140361-26-015160 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 20 | Section 02, Deborah H. McAneny 2026-04-14 | Form 4 | 2026-04-16 | 0001140361-26-015161 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 21 | Section 02, Jonathan A. Langer 2026-04-14 | Form 4 | 2026-04-16 | 0001140361-26-015162 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 22 | Section 02, Irene M. Esteves 2026-04-14 | Form 4 | 2026-04-16 | 0001140361-26-015163 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 23 | Section 02, W. Patrick Mattson 2026-04-24 | Form 4 | 2026-04-27 | 0001140361-26-017127 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 24 | Section 02, Matthew A. Salem 2026-04-24 | Form 4 | 2026-04-27 | 0001140361-26-017128 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 25 | Section 02, Kendra Decious 2026-10-01 | Form 4 | 2026-10-05 | 0001140361-26-038634 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 26 | Section 02, Christen E.J. Lee 2026-10-01 | Form 4 | 2026-10-05 | 0001140361-26-038630 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 27 | Section 06, 2026 vote | Form 8-K | 2026-04-16 | 0001140361-26-015156 | Item 5.07 · say-on-pay result. As reported: 96.05% (votes for as printed: 37,405,184). Filing ↗ |
| 28 | Section 06, 2025 vote | Form 8-K | 2025-05-01 | 0001140361-25-016926 | Item 5.07 · say-on-pay result. As reported: 95.07% (votes for as printed: 44,235,862). Filing ↗ |
| 29 | Section 06, 2024 vote | Form 8-K | 2024-04-25 | 0001140361-24-022033 | Item 5.07 · say-on-pay result. As reported: 97.04% (votes for as printed: 44,007,798). Filing ↗ |
| 30 | Section 01 trend, Δ column (computed) | Computed | — | — | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 31 | Section 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 |
| 32 | Section 09b board cost (computed) | Computed | — | — | Cash 685,000 + equity 550,000 + all other 0 = 1,235,000, summed across the director compensation table rows.machine: formula: Σ = 1,235,000 |
| 33 | KKR Real Estate Finance Trust Inc. (subject), Section 10b CEO total | DEF 14A | 2026-03-03 | 0001140361-26-007573 | CEO total compensation as printed in KKR Real Estate Finance Trust Inc.'s own proxy. As printed: 688,188. Filing ↗machine: r2 · c27 · span 361601–361608 |
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