Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-06-02

Ladder Capital Corp. (LADR)

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.

$13,944,233
Brian Harris total, FY2025
82nd
CEO pay percentile vs peers
36:1
CEO-to-median pay ratio
38.94%
Say-on-pay support, latest vote
Companies that benchmark against LADR
17 companies name LADR as a compensation peer

Each company listed discloses LADR 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 LADR 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
Brian Harris$1,000,000$0$8,816,833$0$4,124,700$0$2,700$13,944,233
Chief Executive Officer
Pamela McCormack750,00003,277,09901,562,2500196,0065,785,355
President
Paul Miceli350,00001,150,3570576,5400120,4562,197,353
Chief Financial Officer
Robert Perelman300,00001,204,9890578,850063,4442,147,283
Head of Asset Management
Kelly Porcella243,7500904,0360455,1000114,6071,717,493
Chief Administrative Officer, 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.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY20242025
Brian Harris$13,944,233$15,511,342$14,983,943−1,567,109
Pamela McCormack5,785,3556,278,6205,932,929−493,265
Paul Miceli2,197,3532,162,471
Robert Perelman2,147,2832,315,949−168,666
Kelly Porcella1,717,4931,851,7911,703,826−134,298

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
Pamela McCormackDirector2026-05-06D123,793$0$0CommonForm 4 ↗
Robert PerelmanHead of Asset Management2026-05-29D17,50510179,426CommonForm 4 ↗
Robert PerelmanHead of Asset Management2026-05-29D17,49510179,499CommonForm 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
Robert PerelmanPSU2025-02-1836,25336,253$846,870
Pamela McCormackPSU2025-02-18100,539100,5382,348,579
Kelly PorcellaRSU2025-02-1855,279645,659
Paul MiceliRSU2025-02-1870,592824,515
Brian HarrisRSU2025-02-18563,3676,580,127
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Robert Perelman$0$846,870$0100.0%
Pamela McCormack02,348,5790100.0%
Kelly Porcella645,659000.0%
Paul Miceli824,515000.0%
Brian Harris6,580,127000.0%

% 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
Robert PerelmanRSU23,316$256,243
Robert PerelmanRSU36,253398,420
Pamela McCormackRSU66,714733,187
Kelly PorcellaRSU14,222156,300
Robert PerelmanRSU8,59394,437
Paul MiceliRSU70,592775,806
Paul MiceliRSU46,632512,486
Pamela McCormackRSU36,125195,881
Robert PerelmanRSU14,16768,162
Pamela McCormackRSU100,5391,104,924
Kelly PorcellaRSU55,279607,516
Kelly PorcellaRSU38,212419,950
Pamela McCormackRSU28,628314,622
Paul MiceliRSU19,556214,920
05

Incentive-plan design — the Compensation Discussion & Analysis

Our compensation philosophy is to align executive compensation with the interests of our stockholders and, therefore, to motivate our executives to attain financial objectives that our Board believes are primary determinants of long-term equity value while avoiding imprudent risk taking.

CEO STI target (% of salary)
CEO LTI target (% of salary)
Independent consultantFTI Consulting, Inc.
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20242024-06-0631,169,63448,876,226551,95738.94%Failed
20212021-06-0125,090,94348,282,784490,12734.2%Failed
20182018-06-0556,323,02818,901,1132,573,13974.87%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
20242024-06-0638.94%a
20212021-06-0134.2%b
20182018-06-0574.87%c

a. Approved under the standard stated in the filing — “However, broker non-votes, abstentions and votes withheld are not considered votes cast and therefore will have no effect on the outcome of Proposals 1, 3 and 4.”.

b. Approved under the standard stated in the filing — “However, broker non-votes, abstentions and votes withheld are not considered votes cast and therefore will have no effect on the outcome of the Proposals.”.

c. Approved under the standard stated in the filing — “However, broker non-votes, abstentions and votes withheld are not considered votes cast and therefore will have no effect on the outcome of the Proposals.”.

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)36 : 1
CEO total compensation$13,944,233
Median employee compensation$391,689
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Alan H. FishmanIndependent · Board Chair · Audit · Compensation · Risk and Underwriting (Chair)$300,000$75,196$0$0$0$375,196
Douglas DurstIndependent · Compensation (Chair) · Nominating/Governance (Chair)125,00075,196000200,196
Mark AlexanderIndependent · Audit (Chair) · Nominating/Governance115,00075,196000190,196
David WeinerIndependent · Audit100,00075,196000175,196
Jeffrey SteinerIndependent · Compensation100,00075,196000175,196
Pamela McCormackEmployee director00000
Brian HarrisEmployee director · Risk and Underwriting00000
09

Board fee structure and ownership guideline

Annual cash retainer$100,000
Annual equity retainer$76,066
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)15,000 / 15,000 / 10,000
Stock ownership guideline$225,000
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$740,000
Equity awards (grant-date value)$375,980
All other compensation$0
Total cost of the board$1,115,980

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 Ladder Capital Corp. 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 Ladder Capital Corp..

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
1Kennedy-Wilson Holdings, Inc.2024William McMorrow$1,500,000$8,734,196$0$3,735,000$15,842,528
2Walker & Dunlop Inc.2025William Walker1,000,00013,170,93101,324,82115,500,252
3Ladder Capital Corp.2025Brian Harris1,000,0008,816,83304,124,70013,944,233
4PennyMac Financial Services, Inc.2025David Spector1,483,3335,437,4442,025,6873,608,25012,660,536
5Arbor Realty Trust, Inc.2025Ivan Kaufman1,200,0005,259,1520011,785,559
6Hannon Armstrong Sustainable Infrastructure Capital, Inc.2025Jeffrey Lipson807,3086,032,13802,709,8759,566,821
7Adamas Trust, Inc.2025Jason Serrano920,0004,102,96202,992,5008,175,252
8MFA Financial, Inc.2025Craig Knutson825,0004,080,0111,605,1237,079,634
9Redwood Trust, Inc.2025Christopher Abate975,0003,262,48101,808,0166,131,948
10BrightSpire Capital, Inc.2025Michael Mazzei800,0003,283,90501,750,0005,849,879
11Granite Point Mortgage Trust Inc.2025John Taylor1,000,0002,166,7410576,5003,757,041
12Safehold Inc.2025Jay Sugarman600,0001,950,000002,627,089

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
Ladder Capital Corp.not disclosedRSU 100not disclosedFTI Consulting, Inc.
Adamas Trust, Inc.130%PSU 60 · RSU 40YesPearl Meyer
Arbor Realty Trust, Inc.not disclosedRSU 100Yes — Total Shareholder Return (TSR)not disclosed
BrightSpire Capital, Inc.97.2%RSU 50 · PSU 50YesFerguson Partners
Granite Point Mortgage Trust Inc.57.7%PSU 50 · RSU 50NoSemler Brossy Consulting Group LLC
Hannon Armstrong Sustainable Infrastructure Capital, Inc.190%LTIP Units 100Yes — Relative TSRPay Governance
Kennedy-Wilson Holdings, Inc.not disclosednot disclosednot disclosednot disclosed
MFA Financial, Inc.107.0%PSU 60 · RSU 40Yes — Absolute TSRFrederic W. Cook & Co., Inc. (FW Cook)
PennyMac Financial Services, Inc.84.9%PSU 50 · RSU 25 · Options 25NoPearl Meyer
Redwood Trust, Inc.86%PSU 55 · RSU 45Yes — relative TSR (rTSR)Semler Brossy Consulting Group LLC
Safehold Inc.77%not disclosedNoPay Governance
Walker & Dunlop Inc.132%not disclosedNoPay Governance

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.

FAQ

Frequently asked questions

Who was the highest-paid executive at Ladder Capital Corp. in fiscal 2025?
As disclosed, Brian Harris, the Chief Executive Officer, was the highest-paid executive at Ladder Capital Corp. in fiscal 2025 with total compensation of $13,944,233.
How does Ladder Capital Corp.'s chief executive pay compare to its disclosed peer group?
The filing shows that the chief executive's pay placed him at the 82nd percentile of the disclosed peer group.
What is Ladder Capital Corp.'s CEO-to-median employee pay ratio?
As disclosed, the CEO-to-median employee pay ratio was 36:1.
How did shareholders vote on Ladder Capital Corp.'s executive compensation?
The filing shows that shareholder support for the executive compensation plan was 38.94% in the latest vote.
How much does Ladder Capital Corp. spend in total on board compensation for fiscal 2025?
As disclosed, total board compensation for fiscal 2025 was $1,115,980.

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, Brian HarrisDEF 14A2026-04-210001577670-26-000018Section “Summary Compensation Table” · page 52. As printed: 13,944,233. Filing ↗machine: r3 · c36 · span 603013–603023
2Section 01, Pamela McCormackDEF 14A2026-04-210001577670-26-000018Section “Summary Compensation Table” · page 52. As printed: 5,785,355. Filing ↗machine: r6 · c36 · span 610697–610706
3Section 01, Paul MiceliDEF 14A2026-04-210001577670-26-000018Section “Summary Compensation Table” · page 52. As printed: 2,197,353. Filing ↗machine: r9 · c36 · span 618330–618339
4Section 01, Robert PerelmanDEF 14A2026-04-210001577670-26-000018Section “Summary Compensation Table” · page 52. As printed: 2,147,283. Filing ↗machine: r12 · c36 · span 625971–625980
5Section 01, Kelly PorcellaDEF 14A2026-04-210001577670-26-000018Section “Summary Compensation Table” · page 52. As printed: 1,717,493. Filing ↗machine: r15 · c36 · span 633612–633621
6Section 03, Robert Perelman PSUDEF 14A2026-04-210001577670-26-000018Section “Grants of Plan-Based Awards for Fiscal Year” · grants of plan-based awards table. Filing ↗machine: t28 · r13 · c7 · span 691684–691690
7Section 03, Pamela McCormack PSUDEF 14A2026-04-210001577670-26-000018Section “Grants of Plan-Based Awards for Fiscal Year” · grants of plan-based awards table. Filing ↗machine: t28 · r7 · c7 · span 682180–682187
8Section 03, Kelly Porcella RSUDEF 14A2026-04-210001577670-26-000018Section “Grants of Plan-Based Awards for Fiscal Year” · grants of plan-based awards table. Filing ↗machine: t28 · r16 · c7 · span 696431–696437
9Section 03, Paul Miceli RSUDEF 14A2026-04-210001577670-26-000018Section “Grants of Plan-Based Awards for Fiscal Year” · grants of plan-based awards table. Filing ↗machine: t28 · r10 · c7 · span 686933–686939
10Section 03, Brian Harris RSUDEF 14A2026-04-210001577670-26-000018Section “Grants of Plan-Based Awards for Fiscal Year” · grants of plan-based awards table. Filing ↗machine: t28 · r4 · c10 · span 677834–677841
11Section 07, pay ratioDEF 14A2026-04-210001577670-26-000018Section “CEO Pay Ratio”. As printed: 36 : 1. Filing ↗machine: span 954602–954609
12Section 08, Alan H. FishmanDEF 14A2026-04-210001577670-26-000018Section “Director Compensation”. As printed: 375,196. Filing ↗machine: t43 · r3 · c8 · span 1054882–1054889
13Section 08, Douglas DurstDEF 14A2026-04-210001577670-26-000018Section “Director Compensation”. As printed: 200,196. Filing ↗machine: t43 · r5 · c8 · span 1057860–1057867
14Section 08, Mark AlexanderDEF 14A2026-04-210001577670-26-000018Section “Director Compensation”. As printed: 190,196. Filing ↗machine: t43 · r4 · c8 · span 1056386–1056393
15Section 08, David WeinerDEF 14A2026-04-210001577670-26-000018Section “Director Compensation”. As printed: 175,196. Filing ↗machine: t43 · r7 · c8 · span 1060809–1060816
16Section 08, Jeffrey SteinerDEF 14A2026-04-210001577670-26-000018Section “Director Compensation”. As printed: 175,196. Filing ↗machine: t43 · r6 · c8 · span 1059336–1059343
17Section 08, Pamela McCormackDEF 14A2026-04-210001577670-26-000018Section “Director Compensation”. As printed: 0. Filing ↗
18Section 08, Brian HarrisDEF 14A2026-04-210001577670-26-000018Section “Director Compensation”. As printed: 0. Filing ↗
19Section 02, Pamela McCormack 2026-05-06Form 42026-05-080001104659-26-057978Insider equity transaction reported since the proxy statement. Filing ↗
20Section 02, Robert Perelman 2026-05-29Form 42026-06-020001104659-26-069595Insider equity transaction reported since the proxy statement. Filing ↗
21Section 02, Robert Perelman 2026-05-29Form 42026-06-020001104659-26-069595Insider equity transaction reported since the proxy statement. Filing ↗
22Section 06, 2024 voteForm 8-K2024-06-070001104659-24-069673Item 5.07 · say-on-pay result. As reported: 38.94% (votes for as printed: 31,169,634). Filing ↗
23Section 06, 2021 voteForm 8-K2021-06-040001104659-21-077059Item 5.07 · say-on-pay result. As reported: 34.2% (votes for as printed: 25,090,943). Filing ↗machine: span 26060–28135
24Section 06, 2018 voteForm 8-K2018-06-080001104659-18-039198Item 5.07 · say-on-pay result. As reported: 74.87%. Filing ↗
25Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
26Section 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
27Section 09b board cost (computed)ComputedcomputedCash 740,000 + equity 375,980 + all other 0 = 1,115,980, summed across the director compensation table rows.machine: formula: Σ = 1,115,980
28Kennedy-Wilson Holdings, Inc., Section 10b CEO totalDEF 14A2025-04-250000950170-25-058797CEO total compensation as printed in Kennedy-Wilson Holdings, Inc.'s own proxy. As printed: 15,842,528. Filing ↗machine: span 1349719–1349729
29Walker & Dunlop Inc., Section 10b CEO totalDEF 14A2026-04-010001104659-26-038515CEO total compensation as printed in Walker & Dunlop Inc.'s own proxy. As printed: 15,500,252. Filing ↗machine: t197 · r6 · c14 · span 849398–849408
30Ladder Capital Corp. (subject), Section 10b CEO totalDEF 14A2026-04-210001577670-26-000018CEO total compensation as printed in Ladder Capital Corp.'s own proxy. As printed: 13,944,233. Filing ↗machine: r3 · c36 · span 603013–603023
31PennyMac Financial Services, Inc., Section 10b CEO totalDEF 14A2026-04-200001193125-26-164086CEO total compensation as printed in PennyMac Financial Services, Inc.'s own proxy. As printed: 12,660,536. Filing ↗machine: r3 · c26 · span 1032650–1032660
32Arbor Realty Trust, Inc., Section 10b CEO totalDEF 14A2026-04-160001253986-26-000027CEO total compensation as printed in Arbor Realty Trust, Inc.'s own proxy. As printed: 11,785,559. Filing ↗machine: span 343111–343121
33Hannon Armstrong Sustainable Infrastructure Capital, Inc., Section 10b CEO totalDEF 14A2026-04-130001561894-26-000061CEO total compensation as printed in Hannon Armstrong Sustainable Infrastructure Capital, Inc.'s own proxy. As printed: 9,566,821. Filing ↗machine: r2 · c18 · span 998911–998920
34Adamas Trust, Inc., Section 10b CEO totalDEF 14A2026-04-240001273685-26-000038CEO total compensation as printed in Adamas Trust, Inc.'s own proxy. As printed: 8,175,252. Filing ↗machine: span 827801–827810
35MFA Financial, Inc., Section 10b CEO totalDEF 14A2026-04-170001140361-26-015388CEO total compensation as printed in MFA Financial, Inc.'s own proxy. As printed: 7,079,634. Filing ↗machine: r2 · c22 · span 815805–815814
36Redwood Trust, Inc., Section 10b CEO totalDEF 14A2026-03-310000930236-26-000011CEO total compensation as printed in Redwood Trust, Inc.'s own proxy. As printed: 6,131,948. Filing ↗machine: span 755087–755096
37BrightSpire Capital, Inc., Section 10b CEO totalDEF 14A2026-04-010001717547-26-000026CEO total compensation as printed in BrightSpire Capital, Inc.'s own proxy. As printed: 5,849,879. Filing ↗machine: t89 · r7 · c18 · span 543725–543734
38Granite Point Mortgage Trust Inc., Section 10b CEO totalDEF 14A2026-04-200001104659-26-045496CEO total compensation as printed in Granite Point Mortgage Trust Inc.'s own proxy. As printed: 3,757,041. Filing ↗machine: r1 · c41 · span 1477032–1477041
39Safehold Inc., Section 10b CEO totalDEF 14A2026-03-310001104659-26-037873CEO total compensation as printed in Safehold Inc.'s own proxy. As printed: 2,627,089. Filing ↗machine: t261 · r5 · c14 · span 822150–822159
40Section 10a, Walker & Dunlop Inc. reciprocityDEF 14A0001104659-26-038515Walker & Dunlop Inc. names Ladder Capital Corp. in its own disclosed peer group (read from its most recent proxy). Filing ↗
41Section 10a, Granite Point Mortgage Trust Inc. reciprocityDEF 14A0001104659-26-045496Granite Point Mortgage Trust Inc. names Ladder Capital Corp. in its own disclosed peer group (read from its most recent proxy). Filing ↗
42Section 10a, Kennedy-Wilson Holdings, Inc. reciprocityDEF 14A0000950170-25-058797Kennedy-Wilson Holdings, Inc. names Ladder Capital Corp. in its own disclosed peer group (read from its most recent proxy). Filing ↗
43Section 10a, Redwood Trust, Inc. reciprocityDEF 14A0000930236-26-000011Redwood Trust, Inc. names Ladder Capital Corp. in its own disclosed peer group (read from its most recent proxy). Filing ↗
44Section 10a, BrightSpire Capital, Inc. reciprocityDEF 14A0001717547-26-000026BrightSpire Capital, Inc. names Ladder Capital Corp. in its own disclosed peer group (read from its most recent proxy). Filing ↗
45Section 10a, Adamas Trust, Inc. reciprocityDEF 14A0001273685-26-000038Adamas Trust, Inc. names Ladder Capital Corp. in its own disclosed peer group (read from its most recent proxy). Filing ↗
46Section 10a, MFA Financial, Inc. reciprocityDEF 14A0001140361-26-015388MFA Financial, Inc. names Ladder Capital Corp. in its own disclosed peer group (read from its most recent proxy). Filing ↗