Velarion · Company Intelligence
Compensation Brief
Fiscal year 2024 · Filings through 2026-04-24

Sila Realty Trust, Inc. (SLRA)

CEO Michael Seton was paid $5,510,455 in fiscal year 2024, the 31st percentile of its disclosed peer group (SEC filing 0001567925-25-000036 ↗): 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.

$5,510,455
Michael Seton total, FY2024
31st
CEO pay percentile vs peers
—
CEO-to-median pay ratio
—
Say-on-pay support, latest vote

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Sample answer — “What is the CEO’s total compensation?”
- Michael Seton (Chief Executive Officer), FY2024 total compensation $5,510,455 (base salary $825,000) [exec_comp, SEC accession 0001567925-25-000036, filed 2025-04-04]

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01

Summary Compensation Table — fiscal year 2024

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Michael Seton$825,000$0$2,275,000$0$1,949,063$0$461,392$5,510,455
Chief Executive Officer
Kay Neely525,00001,100,0000918,7500214,9482,758,698
Chief Financial Officer
Christopher Flouhouse311,26901,040,9840310,178023,5231,685,954
Chief Investment Officer
Jon Sajeski79,3330325,0000001,121,9441,526,277
Former Chief Investment Officer
Robert Labenski66,2500250,000000779,2351,095,485
Former Chief Accounting 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 officerFY2024 totalFY2023 totalFY2022 totalΔ FY2023→2024
Michael Seton$5,510,455———
Kay Neely2,758,698———
Christopher Flouhouse1,685,954———
Jon Sajeski1,526,277———
Robert Labenski1,095,485———

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

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Companies that benchmark against SLRA

Each company listed discloses SLRA in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons.

02

Equity transactions since the proxy statement was filed

No insider equity transactions reported since the proxy statement.

03

Grants of plan-based awards — fiscal year 2024

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Robert LabenskiRSU2024-01-01——4,178—$125,000
Christopher FlouhouseRSU2024-05-06——25,752—770,492
Christopher FlouhousePSU2024-05-064,5209,041—13,561270,492
Robert LabenskiPSU2024-01-012,0894,178—6,267125,000
Kay NeelyRSU2024-01-01——18,382—550,000
Kay NeelyPSU2024-01-019,19118,382—27,574550,000
Jon SajeskiRSU2024-01-01——5,431—162,500
Jon SajeskiPSU2024-01-012,7165,431—8,147162,500
Michael SetonRSU2024-01-01——38,018—1,137,500
Michael SetonPSU2024-01-0119,00938,018—57,0271,137,500
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Robert Labenski$125,000$125,000$050.0%
Christopher Flouhouse770,492270,492026.0%
Kay Neely550,000550,000050.0%
Jon Sajeski162,500162,500050.0%
Michael Seton1,137,5001,137,500050.0%

% 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 2024

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Kay NeelyRSU27,573—$670,575
Michael SetonPSU34,595—841,350
Christopher FlouhousePSU13,560—329,779
Christopher FlouhouseRSU25,751—626,264
Michael SetonRSU85,682—2,083,786
Michael SetonRSU57,027—1,386,897
Kay NeelyRSU38,308—931,651
Kay NeelyPSU14,826—360,568
05

Incentive-plan design — the Compensation Discussion & Analysis

The Company implements a pay-for-performance compensation structure that links a substantial portion of pay opportunity to long-term performance, with the majority of total target pay opportunity being at-risk and tied to the Company's performance.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultantFPC
Clawback policytrue
Anti-hedgingtrue
Anti-pledging—
08

Director compensation — fiscal year 2024

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Jonathan KuchinIndependent$163,750$100,132——$5,519$269,401
Z. Jamie BeharIndependent120,625100,132——5,447226,204
Roger PrattIndependent114,375100,132——5,519220,026
Adrienne KirbyIndependent114,375100,132——5,447219,954
Verett MimsIndependent109,375100,132——5,447214,954
Michael A. SetonIndependent00——00
09

Board fee structure and ownership guideline

Annual cash retainer$90,000
Annual equity retainer$100,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)25,000 / 17,500 / 17,500
Stock ownership guidelineAs described above, the Company maintains minimum stock ownership requirements for directors.
09b

Total cost of the board

ComponentFY2024
Cash retainers and fees$622,500
Equity awards (grant-date value)$500,660
All other compensation$27,379
Total cost of the board$1,150,539

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

Disclosed peer group — fiscal year 2024

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 Sila Realty Trust, Inc. 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 Sila Realty Trust, Inc..

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
1Easterly Government Properties, Inc.2025Darrell Crate$825,000$8,508,519$0$930,000$10,277,519
2CareTrust REIT, Inc.2025David Sedgwick1,000,0001,242,02207,750,00010,002,522
3Essential Properties Realty Trust, Inc.2025Peter Mavoides800,0006,853,00001,950,0009,634,000
4Sabra Health Care REIT, Inc.2025Richard Matros1,000,0005,026,72102,526,0008,552,721
5InvenTrust Properties Corp.2025Daniel Busch950,0004,627,08402,012,8137,597,244
6American Healthcare REIT, Inc.2025Danny Prosky800,0004,355,8290840,0006,685,948
7LXP Industrial Trust2025T. Wilson Eglin840,0004,044,98201,442,4386,645,384
8Broadstone Net Lease, Inc.2025John Moragne600,0003,918,50601,187,7706,065,001
9Four Corners Property Trust, Inc.2025William Lenehan724,6053,705,794005,701,486
10Sila Realty Trust, Inc.2024Michael Seton825,0002,275,00001,949,0635,510,455
11NETSTREIT Corp.2025Mark Manheimer700,0003,194,41601,253,1755,165,527
12LTC Properties, Inc.2025Pamela Shelley-Kessler650,0002,250,00001,117,1884,027,538
13Community Healthcare Trust Incorporated2025David Dupuy666,6681,147,502002,448,171
14Global Medical REIT Inc.2025Mark Decker, Jr.371,3891,148,5560222,8331,817,778

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
Sila Realty Trust, Inc.not disclosedPSU 50 · RSU 50not disclosedFPC
American Healthcare REIT, Inc.150%RSU 50 · PRSU 50Yes — Total Shareholder Return (TSR) relative to performance peer groupFerguson Partners Consulting, L.P.
Broadstone Net Lease, Inc.198%not disclosedYes — Relative Total Shareholder Return vs rTSR Peer GroupFerguson Partners Consulting, L.P.
CareTrust REIT, Inc.310%PSU 50 · RSU 50Yes — Relative TSRPearl Meyer
Community Healthcare Trust Incorporated62%not disclosedYes — Relative TSR vs. Peer GroupFerguson Partners Consulting
Easterly Government Properties, Inc.78%LTIP Units 100Yes — Absolute TSRFTI Consulting
Essential Properties Realty Trust, Inc.163%PRSU 60 · RSU 40Yes — Relative TSRFerguson Partners Consulting L.P.
Four Corners Property Trust, Inc.125%PSU 50 · RSU 50Yes — Absolute Total Stockholder Return (TSR)Semler Brossy
Global Medical REIT Inc.not disclosedLTIP Units 100YesFarient
InvenTrust Properties Corp.212%RSU 100NoFerguson Partners Consulting
LTC Properties, Inc.137.5%RSU 50 · PSU 50Yes — Absolute TSRFrederic W. Cook & Co., Inc.
LXP Industrial Trustnot disclosedPSU 60 · RSU 40Yes — Relative TSR compared to MSCI US REIT IndexFerguson Partners Consulting, L.P.
NETSTREIT Corp.179.0%PSU 60 · RSU 40Yes — Absolute TSRFerguson Partners Consulting L.P.
Sabra Health Care REIT, Inc.168.4%PSU 65 · RSU 35YesFW Cook

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.

10d

Frequently asked questions

Who was the highest-paid executive at Sila Realty Trust, Inc. in fiscal 2024?
As disclosed, Michael Seton (Chief Executive Officer) was the highest-paid executive at Sila Realty Trust, Inc. in fiscal 2024, with total compensation of $5,510,455.
How does Sila Realty Trust, Inc.'s chief executive pay compare to its disclosed peer group?
As disclosed, Michael Seton's total compensation ranked at the 31st percentile of Sila Realty Trust, Inc.'s disclosed peer group.
How much does Sila Realty Trust, Inc. spend in total on board compensation for fiscal 2024?
As disclosed, Sila Realty Trust, Inc. reported total board compensation of $1,150,539 for fiscal 2024.

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, Michael SetonDEF 14A2025-04-040001567925-25-000036Section “Executive Compensation”. As printed: 5,510,455. Filing ↗
2Section 01, Kay NeelyDEF 14A2025-04-040001567925-25-000036Section “Executive Compensation”. As printed: 2,758,698. Filing ↗
3Section 01, Christopher FlouhouseDEF 14A2025-04-040001567925-25-000036Section “Executive Compensation”. As printed: 1,685,954. Filing ↗
4Section 01, Jon SajeskiDEF 14A2025-04-040001567925-25-000036Section “Executive Compensation”. As printed: 1,526,277. Filing ↗
5Section 01, Robert LabenskiDEF 14A2025-04-040001567925-25-000036Section “Executive Compensation”. As printed: 1,095,485. Filing ↗
6Section 03, Robert Labenski RSUDEF 14A2025-04-040001567925-25-000036Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
7Section 03, Christopher Flouhouse RSUDEF 14A2025-04-040001567925-25-000036Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 1695495–1695502
8Section 03, Christopher Flouhouse PSUDEF 14A2025-04-040001567925-25-000036Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
9Section 03, Robert Labenski PSUDEF 14A2025-04-040001567925-25-000036Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
10Section 03, Kay Neely RSUDEF 14A2025-04-040001567925-25-000036Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
11Section 03, Kay Neely PSUDEF 14A2025-04-040001567925-25-000036Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
12Section 03, Jon Sajeski RSUDEF 14A2025-04-040001567925-25-000036Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
13Section 03, Jon Sajeski PSUDEF 14A2025-04-040001567925-25-000036Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
14Section 03, Michael Seton RSUDEF 14A2025-04-040001567925-25-000036Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
15Section 03, Michael Seton PSUDEF 14A2025-04-040001567925-25-000036Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
16Section 08, Jonathan KuchinDEF 14A2025-04-040001567925-25-000036Section “Director Compensation”. As printed: 269,401. Filing ↗machine: span 946658–947309
17Section 08, Z. Jamie BeharDEF 14A2025-04-040001567925-25-000036Section “Director Compensation”. As printed: 226,204. Filing ↗machine: span 951813–952463
18Section 08, Roger PrattDEF 14A2025-04-040001567925-25-000036Section “Director Compensation”. As printed: 220,026. Filing ↗machine: span 962089–962737
19Section 08, Adrienne KirbyDEF 14A2025-04-040001567925-25-000036Section “Director Compensation”. As printed: 219,954. Filing ↗machine: span 956961–957612
20Section 08, Verett MimsDEF 14A2025-04-040001567925-25-000036Section “Director Compensation”. As printed: 214,954. Filing ↗machine: span 967245–967909
21Section 08, Michael A. SetonDEF 14A2025-04-040001567925-25-000036Section “Director Compensation”. As printed: 0. Filing ↗
22Section 03b vehicle mix (computed)Computed——RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
23Section 09b board cost (computed)Computed——Cash 622,500 + equity 500,660 + all other 27,379 = 1,150,539, summed across the director compensation table rows.machine: formula: Σ = 1,150,539
24Easterly Government Properties, Inc., Section 10b CEO totalDEF 14A2026-03-230001622194-26-000008CEO total compensation as printed in Easterly Government Properties, Inc.'s own proxy. As printed: 10,277,519. Filing ↗machine: t32 · r4 · c14 · span 1314670–1314680
25CareTrust REIT, Inc., Section 10b CEO totalDEF 14A2026-03-130001628280-26-017386CEO total compensation as printed in CareTrust REIT, Inc.'s own proxy. As printed: 10,002,522. Filing ↗machine: r3 · c21 · span 586779–586789
26Essential Properties Realty Trust, Inc., Section 10b CEO totalDEF 14A2026-03-310001193125-26-134683CEO total compensation as printed in Essential Properties Realty Trust, Inc.'s own proxy. As printed: 9,634,000. Filing ↗machine: span 537248–537253
27Sabra Health Care REIT, Inc., Section 10b CEO totalDEF 14A2026-04-240001193125-26-175398CEO total compensation as printed in Sabra Health Care REIT, Inc.'s own proxy. As printed: 8,552,721. Filing ↗machine: span 570037–570046
28InvenTrust Properties Corp., Section 10b CEO totalDEF 14A2026-03-190001307748-26-000097CEO total compensation as printed in InvenTrust Properties Corp.'s own proxy. As printed: 7,597,244. Filing ↗machine: t86 · r3 · c7 · span 1486834–1486843
29American Healthcare REIT, Inc., Section 10b CEO totalDEF 14A2026-04-090001193125-26-149677CEO total compensation as printed in American Healthcare REIT, Inc.'s own proxy. As printed: 6,685,948. Filing ↗machine: r3 · c25 · span 905119–905128
30LXP Industrial Trust, Section 10b CEO totalDEF 14A2026-04-030000910108-26-000015CEO total compensation as printed in LXP Industrial Trust's own proxy. As printed: 6,645,384. Filing ↗machine: t65 · r2 · c15 · span 653567–653576
31Broadstone Net Lease, Inc., Section 10b CEO totalDEF 14A2026-03-200001424182-26-000025CEO total compensation as printed in Broadstone Net Lease, Inc.'s own proxy. As printed: 6,065,001. Filing ↗machine: span 1494368–1494377
32Four Corners Property Trust, Inc., Section 10b CEO totalDEF 14A2026-04-160001140361-26-015137CEO total compensation as printed in Four Corners Property Trust, Inc.'s own proxy. As printed: 5,701,486. Filing ↗machine: r2 · c18 · span 641840–641849
33Sila Realty Trust, Inc. (subject), Section 10b CEO totalDEF 14A2025-04-040001567925-25-000036CEO total compensation as printed in Sila Realty Trust, Inc.'s own proxy. As printed: 5,510,455. Filing ↗
34NETSTREIT Corp., Section 10b CEO totalDEF 14A2026-04-010001628280-26-022557CEO total compensation as printed in NETSTREIT Corp.'s own proxy. As printed: 5,165,527. Filing ↗machine: r2 · c13 · span 1458631–1458640
35LTC Properties, Inc., Section 10b CEO totalDEF 14A2026-04-080001104659-26-040921CEO total compensation as printed in LTC Properties, Inc.'s own proxy. As printed: 4,027,538. Filing ↗machine: r7 · c20 · span 1255138–1255147
36Community Healthcare Trust Incorporated, Section 10b CEO totalDEF 14A2026-03-120001631569-26-000021CEO total compensation as printed in Community Healthcare Trust Incorporated's own proxy. As printed: 2,448,171. Filing ↗machine: r5 · c24 · span 606124–606133
37Global Medical REIT Inc., Section 10b CEO totalDEF 14A2026-04-080001104659-26-040956CEO total compensation as printed in Global Medical REIT Inc.'s own proxy. As printed: 1,817,778. Filing ↗machine: t115 · r2 · c23 · span 428747–428756
38Section 10a, Community Healthcare Trust Incorporated reciprocityDEF 14A—0001631569-26-000021Community Healthcare Trust Incorporated's most recent proxy was read; its disclosed peer group does not include Sila Realty Trust, Inc.. Filing ↗
39Section 10a, Global Medical REIT Inc. reciprocityDEF 14A—0001104659-26-040956Global Medical REIT Inc.'s most recent proxy was read; its disclosed peer group does not include Sila Realty Trust, Inc.. Filing ↗
40Section 10a, American Healthcare REIT, Inc. reciprocityDEF 14A—0001193125-26-149677American Healthcare REIT, Inc.'s most recent proxy was read; its disclosed peer group does not include Sila Realty Trust, Inc.. Filing ↗
41Section 10a, Easterly Government Properties, Inc. reciprocityDEF 14A—0001622194-26-000008Easterly Government Properties, Inc.'s most recent proxy was read; its disclosed peer group does not include Sila Realty Trust, Inc.. Filing ↗
42Section 10a, Broadstone Net Lease, Inc. reciprocityDEF 14A—0001424182-26-000025Broadstone Net Lease, Inc.'s most recent proxy was read; its disclosed peer group does not include Sila Realty Trust, Inc.. Filing ↗
43Section 10a, CareTrust REIT, Inc. reciprocityDEF 14A—0001628280-26-017386CareTrust REIT, Inc.'s most recent proxy was read; its disclosed peer group does not include Sila Realty Trust, Inc.. Filing ↗
44Section 10a, LTC Properties, Inc. reciprocityDEF 14A—0001104659-26-040921LTC Properties, Inc.'s most recent proxy was read; its disclosed peer group does not include Sila Realty Trust, Inc.. Filing ↗
45Section 10a, LXP Industrial Trust reciprocityDEF 14A—0000910108-26-000015LXP Industrial Trust's most recent proxy was read; its disclosed peer group does not include Sila Realty Trust, Inc.. Filing ↗
46Section 10a, NETSTREIT Corp. reciprocityDEF 14A—0001628280-26-022557NETSTREIT Corp.'s most recent proxy was read; its disclosed peer group does not include Sila Realty Trust, Inc.. Filing ↗
47Section 10a, Essential Properties Realty Trust, Inc. reciprocityDEF 14A—0001193125-26-134683Essential Properties Realty Trust, Inc.'s most recent proxy was read; its disclosed peer group does not include Sila Realty Trust, Inc.. Filing ↗
48Section 10a, Sabra Health Care REIT, Inc. reciprocityDEF 14A—0001193125-26-175398Sabra Health Care REIT, Inc.'s most recent proxy was read; its disclosed peer group does not include Sila Realty Trust, Inc.. Filing ↗
49Section 10a, Four Corners Property Trust, Inc. reciprocityDEF 14A—0001140361-26-015137Four Corners Property Trust, Inc.'s most recent proxy was read; its disclosed peer group does not include Sila Realty Trust, Inc.. Filing ↗