Pennsylvania Real Estate Investment Trust's highest-paid named officer for fiscal year 2022, Chief Executive Officer and Chairman of the Board of Trustees Joseph Coradino, was paid $5,858,889 (SEC filing 0001193125-23-104336 ↗): 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.
$5,858,889 Joseph Coradino total, FY2022 | — CEO pay percentile vs peers | — CEO-to-median pay ratio | 25.25% 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 |
|---|---|---|---|---|---|---|---|---|
| Joseph Coradino | $900,000 | $0 | $2,977,939 | $0 | $1,968,750 | $0 | $12,200 | $5,858,889 |
| Chief Executive Officer and Chairman of the Board of Trustees | ||||||||
| Mario Ventresca | 530,000 | 350,000 | 929,961 | 0 | 596,250 | 2,229 | 12,200 | 2,420,640 |
| Executive Vice President and Chief Financial Officer | ||||||||
| Joseph Aristone | 442,000 | 250,000 | 443,179 | 0 | 331,500 | 0 | 12,200 | 1,478,879 |
| Executive Vice President, Leasing | ||||||||
| Andrew Ioannou | 442,000 | 250,000 | 443,179 | 0 | 331,500 | 0 | 12,200 | 1,478,879 |
| Executive Vice President, Finance and Acquisitions | ||||||||
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 | FY2022 total | FY2021 total | FY2020 total | Δ FY2021→2022 |
|---|---|---|---|---|
| Joseph Coradino | $5,858,889 | $6,321,533 | — | ↓ −462,644 |
| Mario Ventresca | 2,420,640 | 2,068,236 | — | ↑ +352,404 |
| Joseph Aristone | 1,478,879 | 1,256,659 | — | ↑ +222,220 |
| Andrew Ioannou | 1,478,879 | 1,256,659 | — | ↑ +222,220 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
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No insider equity transactions reported since the proxy statement.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Joseph Aristone | RSU | 1,164 | — | $1,362 |
| Joseph Coradino | RSU | 110,294 | — | 129,044 |
| Joseph Coradino | PSU | 48,375 | — | 56,599 |
| Joseph Coradino | RSU | 8,344 | — | 9,762 |
| Mario Ventresca | RSU | 1,909 | — | 2,234 |
| Andrew Ioannou | PSU | 16,414 | — | 19,204 |
| Joseph Coradino | PSU | 110,294 | — | 129,044 |
| Joseph Coradino | RSU | 35,569 | — | 41,616 |
| Mario Ventresca | RSU | 34,443 | — | 40,298 |
| Mario Ventresca | PSU | 34,443 | — | 40,298 |
| Joseph Coradino | RSU | 26,677 | — | 31,212 |
| Joseph Aristone | RSU | 16,414 | — | 19,204 |
| Mario Ventresca | RSU | 1,249 | — | 1,461 |
| Joseph Aristone | PSU | 16,414 | — | 19,204 |
| Andrew Ioannou | RSU | 1,079 | — | 1,262 |
| Andrew Ioannou | RSU | 16,414 | — | 19,204 |
| Joseph Aristone | RSU | 4,614 | — | 5,398 |
| Mario Ventresca | PSU | 13,966 | — | 16,340 |
| Andrew Ioannou | RSU | 1,131 | — | 1,323 |
| Mario Ventresca | RSU | 9,310 | — | 10,893 |
| Joseph Coradino | RSU | 7,665 | — | 8,968 |
| Andrew Ioannou | RSU | 4,614 | — | 5,398 |
| Joseph Aristone | PSU | 6,922 | — | 8,099 |
| Andrew Ioannou | PSU | 6,922 | — | 8,099 |
| Joseph Aristone | RSU | 1,131 | — | 1,323 |
The Compensation Committee considers the objectives and policies of its compensation programs, the performance of the Company and its impact on compensation, and the compensation of senior executives at other comparable companies when establishing executive compensation.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Pay Governance, LLC |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | false |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2023 | 2023-06-01 | 388,772 | 1,150,904 | 43,201 | 25.25% | Failed |
| 2021 | 2021-05-27 | 21,894,964 | 4,987,111 | 1,028,911 | 81.45% | Passed |
| 2020 | 2020-05-28 | 23,894,055 | 6,334,193 | 887,461 | 79.05% | Passed |
| 2019 | 2019-05-30 | 38,900,950 | 2,863,931 | 630,058 | 93.14% | Passed |
| 2018 | 2018-05-31 | 41,352,958 | 5,474,492 | 1,166,548 | 88.31% | Passed |
| 2017 | 2017-06-01 | 48,369,128 | 6,424,100 | 1,946,732 | 88.28% | 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 |
|---|---|---|
| 2023 | 2023-06-01 | 25.25%a |
| 2021 | 2021-05-27 | 81.45%b |
| 2020 | 2020-05-28 | 79.05%c |
a. Approved under the standard stated in the filing — “Under Section 11.F of PREITs trust agreement, abstentions and broker non-votes are not considered votes cast. (2) If you complete your proxy properly, whether by completing and returning a proxy card or by submitting your instructions by telephone or through the internet, but do not provide instructions as to how to vote your shares, your shares will be voted as shown in this column and in accordance with the judgment of the individuals named as proxies on the proxy card as to any other business properly brought before the Annual Meeting.”.
b. Approved under the standard stated in the filing — “Advisory, Non-Binding Approval of the Companys Executive Compensation Majority of votes cast No effect Not voted/ no effect Vote for Proposal Three”.
c. Approved under the standard stated in the filing — “Advisory, Non-Binding Approval of the Companys Executive Compensation Majority of votes cast No effect Not voted/ no effect (4) Vote for Proposal Three Approval of Amended and Restated”.
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.
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Michael J. DeMarcoIndependent · Compensation (Chair) · Special | $130,000 | $115,000 | — | — | — | $245,000 |
| George J. Alburger JrIndependent · Audit (Chair) · Compensation | 119,000 | 115,000 | — | — | — | 234,000 |
| JoAnne A. EppsIndependent · Audit · Nominating and Governance (Chair) · Special | 106,500 | 115,000 | — | — | — | 221,500 |
| Charles P. PizziIndependent · Compensation · Nominating and Governance · Special (Chair) | 99,500 | 115,000 | — | — | — | 214,500 |
| John J. RobertsIndependent · Audit · Nominating and Governance | 93,000 | 115,000 | — | — | — | 208,000 |
| Mark E. PasquerillaIndependent · Audit · Nominating and Governance | 91,500 | 115,000 | — | — | — | 206,500 |
| Kenneth B. HartIndependent · Audit | 54,500 | 115,000 | — | — | — | 169,500 |
| Christopher SwannIndependent | 53,000 | 115,000 | — | — | — | 168,000 |
| Joseph F. CoradinoEmployee director · Board Chair | — | — | — | — | — | 0 |
| Annual cash retainer | $60,000 |
|---|---|
| Annual equity retainer | $115,000 |
| Per board meeting fee | $1,500 |
| Committee chair fees (audit / comp / nom-gov) | 20,000 / 15,000 / 15,000 |
| Stock ownership guideline | — |
| Component | FY2022 |
|---|---|
| Cash retainers and fees | $747,000 |
| Equity awards (grant-date value) | $920,000 |
| All other compensation | $0 |
| Total cost of the board | $1,667,000 |
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 | Pennsylvania Real Estate Investment Trust | 2022 | Joseph Coradino | $900,000 | $2,977,939 | $0 | $1,968,750 | $5,858,889 |
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, Joseph Coradino | DEF 14A | 2023-04-18 | 0001193125-23-104336 | Section “2022 Summary Compensation Table”. As printed: 5,858,889. Filing ↗machine: r2 · c31 · span 361910–361919 |
| 2 | Section 01, Mario Ventresca | DEF 14A | 2023-04-18 | 0001193125-23-104336 | Section “2022 Summary Compensation Table”. As printed: 2,420,640. Filing ↗ |
| 3 | Section 01, Joseph Aristone | DEF 14A | 2023-04-18 | 0001193125-23-104336 | Section “2022 Summary Compensation Table”. As printed: 1,478,879. Filing ↗ |
| 4 | Section 01, Andrew Ioannou | DEF 14A | 2023-04-18 | 0001193125-23-104336 | Section “2022 Summary Compensation Table”. As printed: 1,478,879. Filing ↗ |
| 5 | Section 08, Michael J. DeMarco | DEF 14A | 2023-04-18 | 0001193125-23-104336 | Section “Director Compensation”. As printed: 245,000. Filing ↗machine: span 227886–228023 |
| 6 | Section 08, George J. Alburger Jr | DEF 14A | 2023-04-18 | 0001193125-23-104336 | Section “Director Compensation”. As printed: 234,000. Filing ↗machine: span 226169–226306 |
| 7 | Section 08, JoAnne A. Epps | DEF 14A | 2023-04-18 | 0001193125-23-104336 | Section “Director Compensation”. As printed: 221,500. Filing ↗machine: span 229617–229754 |
| 8 | Section 08, Charles P. Pizzi | DEF 14A | 2023-04-18 | 0001193125-23-104336 | Section “Director Compensation”. As printed: 214,500. Filing ↗machine: span 234856–234993 |
| 9 | Section 08, John J. Roberts | DEF 14A | 2023-04-18 | 0001193125-23-104336 | Section “Director Compensation”. As printed: 208,000. Filing ↗machine: span 236587–236724 |
| 10 | Section 08, Mark E. Pasquerilla | DEF 14A | 2023-04-18 | 0001193125-23-104336 | Section “Director Compensation”. As printed: 206,500. Filing ↗machine: span 233142–233279 |
| 11 | Section 08, Kenneth B. Hart | DEF 14A | 2023-04-18 | 0001193125-23-104336 | Section “Director Compensation”. As printed: 169,500. Filing ↗machine: span 231407–231544 |
| 12 | Section 08, Christopher Swann | DEF 14A | 2023-04-18 | 0001193125-23-104336 | Section “Director Compensation”. As printed: 168,000. Filing ↗machine: span 238848–238985 |
| 13 | Section 08, Joseph F. Coradino | DEF 14A | 2023-04-18 | 0001193125-23-104336 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 14 | Section 06, 2023 vote | Form 8-K | 2023-06-07 | 0001193125-23-162654 | Item 5.07 · say-on-pay result. As reported: 25.25% (votes for as printed: 388,772). Filing ↗ |
| 15 | Section 06, 2021 vote | Form 8-K | 2021-06-03 | 0001193125-21-180545 | Item 5.07 · say-on-pay result. As reported: 81.45% (votes for as printed: 21,894,964). Filing ↗ |
| 16 | Section 06, 2020 vote | Form 8-K | 2020-05-28 | 0001193125-20-154277 | Item 5.07 · say-on-pay result. As reported: 79.05% (votes for as printed: 23,894,055). Filing ↗ |
| 17 | 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) |
| 18 | Section 09b board cost (computed) | Computed | — | — | Cash 747,000 + equity 920,000 + all other 0 = 1,667,000, summed across the director compensation table rows.machine: formula: Σ = 1,667,000 |
| 19 | Pennsylvania Real Estate Investment Trust (subject), Section 10b CEO total | DEF 14A | 2023-04-18 | 0001193125-23-104336 | CEO total compensation as printed in Pennsylvania Real Estate Investment Trust's own proxy. As printed: 5,858,889. Filing ↗machine: r2 · c31 · span 361910–361919 |
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