Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-05-14

SITE Centers Corp. (SITC)

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.

$1,160,250
Aaron Kitlowski total, FY2025
Executive Vice President, General Counsel and Secretaryhighest-paid officer; CEO David Lukes: $0
CEO (David Lukes) pay percentile vs peers
CEO-to-median pay ratio
99.49%
Say-on-pay support, latest vote
Companies that benchmark against SITC
6 companies name SITC as a compensation peer

Each company listed discloses SITC 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 SITC 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
Aaron Kitlowski$450,000$675,000$0$0$0$0$35,250$1,160,250
Executive Vice President, General Counsel and Secretary
Gerald Morgan500,000300,000000012,000812,000
Executive Vice President, Chief Financial Officer and Treasurer
David Lukes00000000
Chief Executive Officer and President
John Cattonar00000000
Executive Vice President and Chief Investment 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
Aaron Kitlowski$1,160,250$2,815,017−1,654,767
Gerald Morgan812,000212,500+599,500
David Lukes07,934,3016,740,650−7,934,301
John Cattonar02,182,3072,696,067−2,182,307

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

No insider equity transactions reported since the proxy statement.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Aaron KitlowskiRSU96,246$617,899
05

Incentive-plan design — the Compensation Discussion & Analysis

Our primary compensation objectives with respect to executives employed by the Company are to: retain and motivate executives who are capable of advancing our strategy and maximizing returns to our shareholders; reward executives on an annual basis in a manner aligned with our performance and organizational objectives; and help ensure that the cost of the compensation program is reasonable to shareholders.

CEO STI target (% of salary)
CEO LTI target (% of salary)
Independent consultantMercer (US) LLC
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-1342,228,847188,05830,43199.49%Passed
20252025-05-1436,138,83311,065,90319,09176.56%Passed
20242024-05-08183,157,9928,889,890100,76695.32%Passed
20232023-05-10180,490,53712,445,046249,28293.55%Passed
20222022-05-11190,261,7765,091,085112,58497.39%Passed
20212021-05-11178,103,11510,016,401240,80894.68%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
20262026-05-1399.49%a
20252025-05-1476.56%b
20242024-05-0895.32%c

a. Approved under the standard stated in the filing — “Broker non-votes and abstentions will have the same effect as votes cast against the proposal.”.

b. Voting standard not stated in the filing.

c. Approved under the standard stated in the filing — “BOARD RECOMMENDATION: "FOR" THE APPROVAL, ON AN ADVISORY BASIS, OF THE COMPENSATION OF THE COMPANY'S NAMED EXECUTIVE OFFICERS We believe that you should vote "FOR" the approval, on a non-binding, advisory basis, of our named executive officer compensation, which, as described more fully under the section captioned "Compensation Discussion and Analysis," we have designed to have s Abstentions and broker non-votes will have the same effect as votes cast against the 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.

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
Dawn M. SweeneyIndependent · Board Chair · Audit · Compensation (Chair) · Nominating and Corporate Governance$166,000$0$0$0$0$166,000
Gary N. BostonIndependent · Audit (Chair) · Compensation · Nominating and Corporate Governance114,0000000114,000
Cynthia Foster CurryIndependent · Audit · Compensation · Nominating and Corporate Governance (Chair)109,0000000109,000
John M. CattonarEmployee director00000
David R. LukesEmployee director00000
09

Board fee structure and ownership guideline

Annual cash retainer$60,000
Annual equity retainer$60,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)
Stock ownership guideline
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$389,000
Equity awards (grant-date value)$0
All other compensation$0
Total cost of the board$389,000

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
1SITE Centers Corp.2025David Lukes$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.

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, Aaron KitlowskiDEF 14A2026-03-310001193125-26-134508Section “2025 Summary Compensation Table”. As printed: 1,160,250. Filing ↗machine: t17 · r11 · c34 · span 200593–200602
2Section 01, Gerald MorganDEF 14A2026-03-310001193125-26-134508Section “2025 Summary Compensation Table” · page 26. As printed: 812,000. Filing ↗machine: t79 · r6 · c34 · span 491393–491400
3Section 01, David LukesDEF 14A2026-03-310001193125-26-134508Section “Executive Compensation”. As printed: 0. Filing ↗
4Section 01, John CattonarDEF 14A2026-03-310001193125-26-134508Section “Executive Compensation”. As printed: 0. Filing ↗
5Section 07, pay ratioDEF 14A2026-03-310001193125-26-134508Section “CEO Pay Ratio”. As printed: —. Filing ↗
6Section 08, Dawn M. SweeneyDEF 14A2026-03-310001193125-26-134508Section “Director Compensation”. As printed: 166,000. Filing ↗machine: t46 · r8 · c4 · span 336905–336912
7Section 08, Gary N. BostonDEF 14A2026-03-310001193125-26-134508Section “Director Compensation”. As printed: 114,000. Filing ↗machine: t46 · r4 · c4 · span 331486–331493
8Section 08, Cynthia Foster CurryDEF 14A2026-03-310001193125-26-134508Section “Director Compensation”. As printed: 109,000. Filing ↗machine: t46 · r6 · c4 · span 334135–334142
9Section 08, John M. CattonarDEF 14A2026-03-310001193125-26-134508Section “Director Compensation”. As printed: 0. Filing ↗
10Section 08, David R. LukesDEF 14A2026-03-310001193125-26-134508Section “Director Compensation”. As printed: 0. Filing ↗
11Section 06, 2026 voteForm 8-K2026-05-140001193125-26-223975Item 5.07 · say-on-pay result. As reported: 99.49% (votes for as printed: 42,228,847). Filing ↗
12Section 06, 2025 voteForm 8-K2025-05-150000950170-25-072566Item 5.07 · say-on-pay result. As reported: 76.56% (votes for as printed: 36,138,833). Filing ↗
13Section 06, 2024 voteForm 8-K2024-05-090000950170-24-056884Item 5.07 · say-on-pay result. As reported: 95.32% (votes for as printed: 183,157,992). Filing ↗
14Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
15Section 09b board cost (computed)ComputedcomputedCash 389,000 + equity 0 + all other 0 = 389,000, summed across the director compensation table rows.machine: formula: Σ = 389,000
16SITE Centers Corp. (subject), Section 10b CEO totalDEF 14A2026-03-310001193125-26-134508CEO total compensation as printed in SITE Centers Corp.'s own proxy. As printed: 0. Filing ↗