Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-06-30

Rithm Property Trust Inc. (RPT)

CEO Michael Nierenberg was paid $0 in fiscal year 2025 (SEC filing 0001104659-26-046036 ↗): 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.

$254,168
Mary Doyle total, FY2025
Former principal financial officer and principal accounting officer — highest-paid officer; CEO Michael Nierenberg: $0
—
CEO (Michael Nierenberg) pay percentile vs peers
—
CEO-to-median pay ratio
30.72%
Say-on-pay support, latest vote

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RPT's next annual pay disclosure, estimated April 21, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Mary Doyle$0$0$0$0$0$0$254,168$254,168
Former principal financial officer and principal accounting officer
Michael Nierenberg00000000
Chief Executive 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 FY2024→2025
Mary Doyle$254,168$716,272$654,368↓ −462,104
Michael Nierenberg0———

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

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$254,168 Mary Doyle total, FY2025

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Data as of June 30, 2026 · Source: 0001104659-26-046036 · Velarion Executive Compensation Database, deposited on Zenodo (doi:10.5281/zenodo.22283855).

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Companies that benchmark against RPT
1 company names RPT as a compensation peer

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01c

Board of directors

One page per director: the seat, the committees and the fee table, read for one person at a time.

DirectorRoleFY2025 total
Daniel HoffmanIndependent Director$155,000
Mary HaggertyIndependent Director$160,000
Paul FriedmanChair of the Board$175,000
02

Equity transactions since the proxy statement was filed

No insider equity transactions reported since the proxy statement.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
MendelsohnRSU27,833—$314,388
Mary DoylePSU16,667—185,887
MendelsohnRSU9,500—122,552
SchaubRSU7,000—83,573
SchaubPSU10,667—123,127
Mary DoyleRSU7,000—83,573
Mary DoyleRSU16,667—185,887
MendelsohnPSU27,833—314,388
SchaubRSU10,667—123,127
05

Incentive-plan design — the Compensation Discussion & Analysis

The Company's compensation programs and the actual compensation paid to the named executive officers are supportive of the long-term interests of the Company and the creation of value for the Company's stockholders.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultant—
Clawback policyTrue
Anti-hedgingTrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-06-021,395,6613,148,19121,21230.72%Failed
20252025-06-0215,301,47412,091,446418,83955.86%Passed
20222022-05-3116,133,516902,004632,32994.71%Passed
20212021-06-0112,549,759550,078775,26995.8%Passed
20202020-06-2312,602,815399,556484,81496.93%Passed
20192019-05-2810,268,249120,335315,51698.84%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
20262026-06-0230.72%a
20252025-06-0255.86%b
20222022-05-3194.71%c

a. Approved under the standard stated in the filing — “For purposes of this vote, abstentions and broker non-votes, if any, will not be counted as votes cast and will have no effect on the result of the vote, although they will be considered present for the purpose of determining the presence of o., as DTC's nominee, are held in accounts for the clients of DTC participants (the banks, brokers and other nominees) and are commonly said to be held in "street name." As the beneficial owner, you have the right to direct your broker how to vote your shares and are also invited to attend the Annual Meeting.”.

b. Approved under the standard stated in the filing — “For purposes of the vote on this Proposal, abstentions and other shares not voted will not be counted as votes cast and will have no effect on the result of the vote.”.

c. Approved under the standard stated in the filing — “For purposes of the vote on this proposal, abstentions and other shares not voted (whether by broker non-vote or otherwise) will not be counted as votes cast and will have no effect on the result of the 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)—
CEO total compensation—
Median employee compensation—
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Paul FriedmanIndependent · Board Chair · Audit · Compensation (Chair)$153,125$21,875$0$0$0$175,000
Mary HaggertyIndependent · Audit (Chair) · Nominating and Corporate Governance160,0000000160,000
Daniel HoffmanIndependent · Audit · Compensation · Nominating and Corporate Governance (Chair) · Newly elected155,0000000155,000
Michael NierenbergEmployee director · Newly elected000—00
09

Board fee structure and ownership guideline

Annual cash retainer$140,000
Annual equity retainer—
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)20,000 / 15,000 / 15,000
Stock ownership guideline—
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$468,125
Equity awards (grant-date value)$21,875
All other compensation$0
Total cost of the board$490,000

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
1Rithm Property Trust Inc.2025Michael Nierenberg$0$0$0$0$0

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.

10d

Frequently asked questions

Who was the highest-paid executive at Rithm Property Trust Inc. in fiscal 2025?
As disclosed, Mary Doyle (Former principal financial officer and principal accounting officer) was the highest-paid executive at Rithm Property Trust Inc. in fiscal 2025, with total compensation of $254,168.
How did shareholders vote on Rithm Property Trust Inc.'s executive compensation?
As disclosed, 30.72% of shareholders supported Rithm Property Trust Inc.'s executive compensation in the latest say-on-pay vote.
How much does Rithm Property Trust Inc. spend in total on board compensation for fiscal 2025?
As disclosed, Rithm Property Trust Inc. reported total board compensation of $490,000 for fiscal 2025.

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, Mary DoyleDEF 14A2026-04-210001104659-26-046036Section “Summary Compensation Table” · page 29. As printed: 254,168. Filing ↗machine: r5 · c53 · span 390346–390353
2Section 01, Michael NierenbergDEF 14A2026-04-210001104659-26-046036Section “Summary Compensation Table” · page 33. As printed: 0. Filing ↗
3Section 07, pay ratioDEF 14A2026-04-210001104659-26-046036Section “CEO Pay Ratio”. As printed: —. Filing ↗
4Section 08, Paul FriedmanDEF 14A2026-06-300001104659-26-046036Section “Director Compensation”. As printed: 175,000. Filing ↗
5Section 08, Mary HaggertyDEF 14A2026-06-300001104659-26-046036Section “Director Compensation”. As printed: 160,000. Filing ↗
6Section 08, Daniel HoffmanDEF 14A2026-06-300001104659-26-046036Section “Director Compensation”. As printed: 155,000. Filing ↗
7Section 08, Michael NierenbergDEF 14A2026-06-300001104659-26-046036Section “Director Compensation”. As printed: 0. Filing ↗
8Section 06, 2026 voteForm 8-K2026-06-020001104659-26-069518Item 5.07 · say-on-pay result. As reported: 30.72% (votes for as printed: 1,395,661). Filing ↗
9Section 06, 2025 voteForm 8-K2025-06-020001104659-25-055455Item 5.07 · say-on-pay result. As reported: 55.86% (votes for as printed: 15,301,474). Filing ↗
10Section 06, 2022 voteForm 8-K2022-05-310001104659-22-066627Item 5.07 · say-on-pay result. As reported: 94.71%. Filing ↗
11Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
12Section 09b board cost (computed)Computed——Cash 468,125 + equity 21,875 + all other 0 = 490,000, summed across the director compensation table rows.machine: formula: Σ = 490,000
13Rithm Property Trust Inc. (subject), Section 10b CEO totalDEF 14A2026-04-210001104659-26-046036CEO total compensation as printed in Rithm Property Trust Inc.'s own proxy. As printed: 0. Filing ↗

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RPT Peer Teardown Report