Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-06-25

SL Green Realty Corp (SLG)

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.

$17,356,826
Marc Holliday total, FY2025
99th
CEO pay percentile vs peers
264:1
CEO-to-median pay ratio
70.29%
Say-on-pay support, latest vote
Companies that benchmark against SLG
11 companies name SLG as a compensation peer

Each company listed discloses SLG 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 SLG 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
Marc Holliday$1,400,000$0$14,271,656$0$1,639,390$0$45,780$17,356,826
Chief Executive Officer and Chairman of the Board
Matthew DiLiberto600,00003,920,69200014,0004,534,692
Chief Financial Officer
Andrew Levine600,00002,858,35300014,0003,472,353
Executive Vice President, General Counsel and Secretary, Chief Legal 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
Marc Holliday$17,356,826$20,685,756$18,508,171−3,328,930
Matthew DiLiberto4,534,6923,970,2223,265,901+564,470
Andrew Levine3,472,3533,130,2653,432,385+342,088

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
Matthew DiLibertoCHIEF FINANCIAL OFFICER2026-05-04D19,000$43$814,910Derivative, Class A CommonForm 4 ↗
Andrew LevineCHIEF LEGAL OFFICER & GC2026-05-04D33,542431,438,616Derivative, Class A CommonForm 4 ↗
Andrew W. MathiasDirector2026-05-19D100,000444,394,000Derivative, Class A CommonForm 4 ↗
Marc HollidayDirector2026-06-24D92,025514,661,066Derivative, Class A CommonForm 4 ↗
Matthew DiLibertoCHIEF FINANCIAL OFFICER2026-06-24D18,73551948,928Derivative, Class A CommonForm 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
Marc HollidayPSU2025-07-0118,32173,283201,527$6,653,741
Andrew LevineRSU2025-01-2926,5641,458,629
Marc HollidayRSU2025-12-1635,8331,280,313
Andrew LevineRSU2025-01-2914,900739,636
Andrew LevinePSU2025-07-013,0238,79421,985660,088
Matthew DiLibertoPSU2025-07-015,15210,99224,732737,893
Matthew DiLibertoRSU2025-01-2932,3601,606,350
Matthew DiLibertoRSU2025-01-2930,7781,576,449
Marc HollidayRSU2025-01-29115,4186,337,602
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Marc Holliday$7,617,915$6,653,741$046.6%
Andrew Levine2,198,265660,088023.1%
Matthew DiLiberto3,182,799737,893018.8%

% 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
Marc HollidayRSU338,146$15,510,757
Matthew DiLibertoRSU87,8414,029,267
Andrew LevinePSU21,199972,398
Andrew LevineRSU48,3712,218,778
Marc HollidayPSU190,4038,733,786
Matthew DiLibertoPSU15,519711,857
Marc HollidayOption217,91768.07
05

Incentive-plan design — the Compensation Discussion & Analysis

We have adopted a pay-for-performance executive compensation philosophy that rewards the achievement of annual and long-term goals of both the Company and individual executives, while achieving the following objectives: ALIGNMENT Provide performance-based incentives that create a strong alignment of management and stockholder interests TALENT Attract and retain top talent in a market that is highly competitive for New York City commercial real estate management MOTIVATION Motivate our executives to achieve superior performance BALANCE Achieve an appropriate balance between risk and reward in our compensation programs that does not create incentives for unnecessary or excessive risk taking EFFICIENCY Foster the dedication required to succeed against our competitors, while maintaining low overall general and administrative expense

CEO STI target (% of salary)200%
CEO LTI target (% of salary)
Independent consultantFerguson Partners
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingfalse
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-06-0237,861,55116,006,66295,61070.29%Passed
20252025-06-0337,140,81116,914,17065,56968.71%Passed
20242024-06-0329,756,68115,527,29862,25565.71%Passed
20232023-06-0523,028,08313,008,693187,02563.9%Passed
20222022-06-0132,194,67911,501,3911,868,52873.68%Passed
20212021-06-0816,816,06431,959,37996,59934.48%Failed

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
20262026-06-0270.29%a
20252025-06-0368.71%b
20242024-06-0365.71%c

a. Approved under the standard stated in the filing — “Therefore, abstentions will have no effect on this proposal.”.

b. Approved under the standard stated in the filing — “This means that the number of votes cast "for" a nominee must exceed the number of votes cast "against" such nominee, with abstentions and broker non-votes not counted as a vote cast either "for" or "against" a nominee.”.

c. Approved under the standard stated in the filing — “Therefore, abstentions will have no effect on 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.

07

CEO pay ratio

Ratio (CEO : median employee)264 : 1
CEO total compensation$17,356,826
Median employee compensation$65,736
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Andrew W. MathiasNot independent · Executive$62,000$235,000$0$0$99,996$396,996
Lauren B. DillardIndependent · Audit (Chair) · Compensation139,000235,000000374,000
John H. AlschulerIndependent · Audit · Compensation · Nominating/Governance · Executive138,000235,000000373,000
Craig M. HatkoffIndependent · Audit · Nominating/Governance (Chair)86,500235,000000321,500
Peggy LambIndependent · Compensation (Chair) · Partial-year service · Newly elected83,650235,000000318,650
Carol N. BrownIndependent · Audit · Nominating/Governance81,500235,000000316,500
Stephen L. GreenNot independent · Executive62,000235,000000297,000
Marc HollidayEmployee director · Board Chair · Executive (Chair)00000
09

Board fee structure and ownership guideline

Annual cash retainer$50,000
Annual equity retainer$235,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)25,000 / 20,000 / 5,000
Stock ownership guidelineRobust stock ownership guidelines ensure employees think and act like owners
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$652,650
Equity awards (grant-date value)$1,645,000
All other compensation$99,996
Total cost of the board$2,397,646

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 SL Green Realty 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 SL Green Realty 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
1SL Green Realty Corp2025Marc Holliday$1,400,000$14,271,656$0$1,639,390$17,356,826
2Empire State Realty Trust, Inc.2025Anthony Malkin896,9239,422,6970012,669,394
3Veris Residential, Inc.2024Mahbod Nia800,0004,400,00002,169,7507,393,104
4Acadia Realty Trust2025Kenneth Bernstein850,0003,574,54402,486,8986,922,230
5Paramount Group, Inc.2024Albert Behler1,134,000002,615,0004,447,497
6Vornado Realty Trust2025Steven Roth1,000,000001,760,0673,135,628

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
SL Green Realty Corpnot disclosedPSU 67 · RSU 33Yes — Office REIT Peers TSRFerguson Partners
Acadia Realty Trust145%LTIP Units 100Yes — Relative TSR vs. Nareit Shopping Center IndexFerguson Partners Consulting (FPC)
Empire State Realty Trust, Inc.164%PSU 55 · LTIP Units 45Yes — TSR performance relative to the Nareit Office IndexFerguson Partners
Paramount Group, Inc.154%PSU 60 · RSU 40NoFrederic W. Cook & Co., Inc.
Veris Residential, Inc.271.2%RSU 50 · PSU 50Yes — Absolute TSRFW Cook
Vornado Realty Trust168%PSU 100Yes — Relative TSR vs LTPP Peer GroupFTI Consulting, Inc.

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 SL Green Realty Corp in fiscal 2025?
Marc Holliday, Chief Executive Officer and Chairman of the Board, was the highest-paid executive at SL Green Realty Corp in fiscal 2025 with total compensation of $17,356,826.
How does SL Green Realty Corp's chief executive pay compare to its disclosed peer group?
The filing shows that Marc Holliday's pay falls within the 99th percentile of the company's disclosed peer group.
What is SL Green Realty Corp's CEO-to-median employee pay ratio?
The CEO-to-median employee pay ratio for fiscal 2025 was 264:1.
How did shareholders vote on SL Green Realty Corp's executive compensation?
Shareholders approved the executive compensation plan with 70.29% support in the latest vote.
How much does SL Green Realty Corp spend in total on board compensation for fiscal 2025?
Total board compensation for fiscal 2025 was $2,397,646.

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, Marc HollidayDEF 14A2026-04-220001104659-26-046866Section “Summary Compensation Table”. As printed: 17,356,826. Filing ↗machine: span 1592570–1592580
2Section 01, Matthew DiLibertoDEF 14A2026-04-220001104659-26-046866Section “Summary Compensation Table”. As printed: 4,534,692. Filing ↗machine: span 1612209–1612218
3Section 01, Andrew LevineDEF 14A2026-04-220001104659-26-046866Section “Summary Compensation Table”. As printed: 3,472,353. Filing ↗machine: span 1631693–1631702
4Section 03, Marc Holliday PSUDEF 14A2026-04-220001104659-26-046866Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t247 · r3 · c69 · span 1692520–1692529
5Section 03, Andrew Levine RSUDEF 14A2026-04-220001104659-26-046866Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t247 · r10 · c72 · span 1770508–1770517
6Section 03, Marc Holliday RSUDEF 14A2026-04-220001104659-26-046866Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t247 · r4 · c69 · span 1702756–1702765
7Section 03, Andrew Levine RSUDEF 14A2026-04-220001104659-26-046866Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t247 · r11 · c69 · span 1780731–1780738
8Section 03, Andrew Levine PSUDEF 14A2026-04-220001104659-26-046866Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t247 · r12 · c69 · span 1791217–1791224
9Section 03, Matthew DiLiberto PSUDEF 14A2026-04-220001104659-26-046866Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t247 · r8 · c69 · span 1747194–1747201
10Section 03, Matthew DiLiberto RSUDEF 14A2026-04-220001104659-26-046866Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t247 · r7 · c69 · span 1736705–1736714
11Section 03, Matthew DiLiberto RSUDEF 14A2026-04-220001104659-26-046866Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t247 · r6 · c72 · span 1726482–1726491
12Section 03, Marc Holliday RSUDEF 14A2026-04-220001104659-26-046866Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t247 · r2 · c72 · span 1682042–1682051
13Section 07, pay ratioDEF 14A2026-04-220001104659-26-046866Section “CEO Pay Ratio”. As printed: 264 : 1. Filing ↗machine: span 2133414–2133417
14Section 08, Andrew W. MathiasDEF 14A2026-04-220001104659-26-046866Section “Director Compensation”. As printed: 396,996. Filing ↗
15Section 08, Lauren B. DillardDEF 14A2026-04-220001104659-26-046866Section “Director Compensation”. As printed: 374,000. Filing ↗machine: t131 · r4 · c29 · span 827074–827081
16Section 08, John H. AlschulerDEF 14A2026-04-220001104659-26-046866Section “Director Compensation”. As printed: 373,000. Filing ↗machine: t131 · r1 · c29 · span 814666–814673
17Section 08, Craig M. HatkoffDEF 14A2026-04-220001104659-26-046866Section “Director Compensation”. As printed: 321,500. Filing ↗machine: t131 · r6 · c29 · span 835350–835357
18Section 08, Peggy LambDEF 14A2026-04-220001104659-26-046866Section “Director Compensation”. As printed: 318,650. Filing ↗machine: t131 · r2 · c29 · span 818798–818805
19Section 08, Carol N. BrownDEF 14A2026-04-220001104659-26-046866Section “Director Compensation”. As printed: 316,500. Filing ↗machine: t131 · r3 · c29 · span 822934–822941
20Section 08, Stephen L. GreenDEF 14A2026-04-220001104659-26-046866Section “Director Compensation”. As printed: 297,000. Filing ↗machine: t131 · r5 · c29 · span 831212–831219
21Section 08, Marc HollidayDEF 14A2026-04-220001104659-26-046866Section “Director Compensation”. As printed: 0. Filing ↗
22Section 02, Matthew DiLiberto 2026-05-04Form 42026-05-060001629731-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
23Section 02, Andrew Levine 2026-05-04Form 42026-05-060001216195-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
24Section 02, Andrew W. Mathias 2026-05-19Form 42026-06-020001275645-26-000005Insider equity transaction reported since the proxy statement. Filing ↗
25Section 02, Marc Holliday 2026-06-24Form 42026-06-250001216194-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
26Section 02, Matthew DiLiberto 2026-06-24Form 42026-06-250001629731-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
27Section 06, 2026 voteForm 8-K2026-06-020001104659-26-069472Item 5.07 · say-on-pay result. As reported: 70.29% (votes for as printed: 37,861,551). Filing ↗
28Section 06, 2025 voteForm 8-K2025-06-030001104659-25-055986Item 5.07 · say-on-pay result. As reported: 68.71% (votes for as printed: 37,140,811). Filing ↗
29Section 06, 2024 voteForm 8-K2024-06-040001104659-24-067964Item 5.07 · say-on-pay result. As reported: 65.71% (votes for as printed: 29,756,681). Filing ↗
30Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
31Section 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
32Section 09b board cost (computed)ComputedcomputedCash 652,650 + equity 1,645,000 + all other 99,996 = 2,397,646, summed across the director compensation table rows.machine: formula: Σ = 2,397,646
33SL Green Realty Corp (subject), Section 10b CEO totalDEF 14A2026-04-220001104659-26-046866CEO total compensation as printed in SL Green Realty Corp's own proxy. As printed: 17,356,826. Filing ↗machine: span 1592570–1592580
34Empire State Realty Trust, Inc., Section 10b CEO totalDEF 14A2026-04-020001104659-26-038890CEO total compensation as printed in Empire State Realty Trust, Inc.'s own proxy. As printed: 12,669,394. Filing ↗machine: r1 · c18 · span 1693420–1693430
35Veris Residential, Inc., Section 10b CEO totalDEF 14A2025-04-290000924901-25-000035CEO total compensation as printed in Veris Residential, Inc.'s own proxy. As printed: 7,393,104. Filing ↗machine: t79 · r2 · c22 · span 686400–686409
36Acadia Realty Trust, Section 10b CEO totalDEF 14A2026-03-310001193125-26-134606CEO total compensation as printed in Acadia Realty Trust's own proxy. As printed: 6,922,230. Filing ↗machine: span 777495–777504
37Paramount Group, Inc., Section 10b CEO totalDEF 14A2025-04-030001558370-25-004397CEO total compensation as printed in Paramount Group, Inc.'s own proxy. As printed: 4,447,497. Filing ↗machine: span 1533974–1533983
38Vornado Realty Trust, Section 10b CEO totalDEF 14A2026-04-070001104659-26-040386CEO total compensation as printed in Vornado Realty Trust's own proxy. As printed: 3,135,628. Filing ↗machine: t140 · r1 · c54 · span 1243172–1243181
39Section 10a, Acadia Realty Trust reciprocityDEF 14A0001193125-26-134606Acadia Realty Trust's most recent proxy was read; its disclosed peer group does not include SL Green Realty Corp. Filing ↗
40Section 10a, Veris Residential, Inc. reciprocityDEF 14A0000924901-25-000035Veris Residential, Inc.'s most recent proxy was read; its disclosed peer group does not include SL Green Realty Corp. Filing ↗
41Section 10a, Paramount Group, Inc. reciprocityDEF 14A0001558370-25-004397Paramount Group, Inc. names SL Green Realty Corp in its own disclosed peer group (read from its most recent proxy). Filing ↗
42Section 10a, Vornado Realty Trust reciprocityDEF 14A0001104659-26-040386Vornado Realty Trust names SL Green Realty Corp in its own disclosed peer group (read from its most recent proxy). Filing ↗