CEO Willing L. Biddle was paid $2,466,986 in fiscal year 2022, ↑ up 0.0% from fiscal year 2021 (SEC filing 0001206774-23-000158 ↗): 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.
$2,466,986 ↑ Willing L. Biddle total, FY2022 | — CEO pay percentile vs peers | 17:1 CEO-to-median pay ratio | 92.43% 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 |
|---|---|---|---|---|---|---|---|---|
| Willing L. Biddle | $425,317 | $115,000 | $1,900,300 | $0 | $0 | $0 | $26,370 | $2,466,986 |
| President and Chief Executive Officer | ||||||||
| Stephan A. Rapaglia | 309,717 | 82,500 | 426,400 | 0 | 0 | 0 | 15,486 | 834,102 |
| Senior Vice President, Chief Operating Officer, Real Estate Counsel & Assistant Secretary | ||||||||
| John T. Hayes | 309,717 | 82,500 | 426,400 | 0 | 0 | 0 | 15,486 | 834,102 |
| Senior Vice President, Chief Financial Officer & Treasurer | ||||||||
| Miyun Sung | 294,417 | 82,500 | 426,400 | 0 | 0 | 0 | 14,721 | 818,038 |
| Senior Vice President, Chief Legal Officer & Secretary | ||||||||
| Charles D. Urstadt | 111,100 | 11,500 | 92,350 | 0 | 0 | 0 | 5,555 | 220,505 |
| Chairman | ||||||||
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 |
|---|---|---|---|---|
| Willing L. Biddle | $2,466,986 | $1,737,061 | — | ↑ +729,925 |
| Stephan A. Rapaglia | 834,102 | 605,887 | — | ↑ +228,215 |
| John T. Hayes | 834,102 | 605,887 | — | ↑ +228,215 |
| Miyun Sung | 818,038 | 504,721 | — | ↑ +313,317 |
| Charles D. Urstadt | 220,505 | 156,515 | — | ↑ +63,990 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
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| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Willing L. Biddle | RSU | 2021-01-04 | — | — | 2,500 | — | $53,300 |
| Willing L. Biddle | PSU | 2022-01-04 | — | 100,000 | — | 2,500 | 1,847,000 |
| John T. Hayes | — | 2022-01-04 | — | — | 20,000 | — | 426,400 |
| Charles D. Urstadt | — | 2022-01-04 | — | — | 5,000 | — | 92,350 |
| Miyun Sung | — | 2022-01-04 | — | — | 20,000 | — | 426,400 |
| Stephan A. Rapaglia | — | 2022-01-04 | — | — | 20,000 | — | 426,400 |
| Stephan A. Rapaglia | — | 2021-01-04 | — | — | 16,000 | — | 220,000 |
| John T. Hayes | — | 2021-01-04 | — | — | 16,000 | — | 220,000 |
| Miyun Sung | — | 2021-01-04 | — | — | 11,000 | — | 151,250 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Willing L. Biddle | $53,300 | $1,847,000 | $0 | 97.2% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Stephan A. Rapaglia | RSU | 20,000 | — | $374,800 |
| Stephan A. Rapaglia | RSU | 5,000 | — | 93,700 |
| Miyun Sung | RSU | 20,000 | — | 374,800 |
| Stephan A. Rapaglia | RSU | 15,500 | — | 290,470 |
| John T. Hayes | RSU | 20,000 | — | 374,800 |
| Miyun Sung | RSU | 11,000 | — | 206,140 |
| John T. Hayes | RSU | 20,000 | — | 374,800 |
| Miyun Sung | RSU | 10,000 | — | 187,400 |
| Miyun Sung | RSU | 9,000 | — | 168,660 |
| John T. Hayes | RSU | 16,000 | — | 299,840 |
| John T. Hayes | RSU | 13,500 | — | 252,990 |
| John T. Hayes | RSU | 15,500 | — | 290,470 |
| Stephan A. Rapaglia | RSU | 13,000 | — | 243,620 |
| Miyun Sung | RSU | 10,000 | — | 187,400 |
| Stephan A. Rapaglia | RSU | 13,500 | — | 252,990 |
| Stephan A. Rapaglia | RSU | 16,000 | — | 299,840 |
| Biddle | RSU | 100,000 | — | 1,896,000 |
| Miyun Sung | RSU | 8,000 | — | 149,920 |
| John T. Hayes | RSU | 16,000 | — | 299,840 |
| Charles D. Urstadt | RSU | 5,000 | — | 94,800 |
| Charles D. Urstadt | RSU | — | — | 56,880 |
| John T. Hayes | RSU | 15,500 | — | 290,470 |
| Charles D. Urstadt | RSU | 3,000 | — | 56,880 |
| Stephan A. Rapaglia | RSU | 13,000 | — | 243,620 |
| Miyun Sung | RSU | 9,000 | — | 168,660 |
| Charles D. Urstadt | RSU | 10,000 | — | 189,600 |
| Biddle | RSU | 2,500 | — | 46,850 |
| Stephan A. Rapaglia | RSU | 20,000 | — | 374,800 |
| Charles D. Urstadt | RSU | 10,000 | — | 189,600 |
| Miyun Sung | RSU | 11,000 | — | 206,140 |
| Charles D. Urstadt | RSU | 1,100 | — | 20,856 |
| John T. Hayes | RSU | 13,000 | — | 243,620 |
| Biddle | RSU | 2,500 | — | 46,850 |
| Miyun Sung | RSU | 8,000 | — | 149,920 |
| Biddle | RSU | 100,000 | — | 1,896,000 |
| John T. Hayes | RSU | 13,500 | — | 252,990 |
| Stephan A. Rapaglia | RSU | 16,000 | — | 299,840 |
| Stephan A. Rapaglia | RSU | 13,500 | — | 252,990 |
| Charles D. Urstadt | RSU | 5,000 | — | 94,800 |
| Stephan A. Rapaglia | RSU | 5,000 | — | 93,700 |
Executive compensation program is designed to attract and retain outstanding executives, reward them for superior performance, and align the interests of executives and stockholders by tying compensation to both company and individual performance.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | FTI Consulting, Inc. |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | True |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2023 | 2023-03-22 | 9,171,660 | 750,844 | 42,565 | 92.43% | Passed |
| 2020 | 2020-03-18 | 8,798,900 | 100,493 | 35,947 | 98.87% | Passed |
| 2017 | 2017-03-22 | 9,441,150 | 106,376 | 84,368 | 98.89% | 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 | 2023-03-22 | 92.43%a |
| 2020 | 2020-03-18 | 98.87%b |
| 2017 | 2017-03-22 | 98.89%c |
a. Approved under the standard stated in the filing — “For each proposal, because abstentions are not treated as votes cast, they will have no effect on any of the items to be considered at the Annual Meeting.”.
b. Approved under the standard stated in the filing — “For each proposal, because abstentions are not treated as votes cast, they will have no effect on any of the items to be considered at the Annual Meeting.”.
c. Approved under the standard stated in the filing — “However, abstentions will have no effect on any of the items to be considered at the Annual Meeting.”.
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.
| Ratio (CEO : median employee) | 17 : 1 |
|---|---|
| CEO total compensation | $2,466,986 |
| Median employee compensation | — |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Robert J. MuellerIndependent · Audit (Chair) · Executive · Nominating/Governance | $80,296 | $53,300 | $0 | $0 | $0 | $133,596 |
| Kevin J. BannonIndependent · Audit · Nominating/Governance (Chair) | 80,081 | 53,300 | 0 | 0 | 0 | 133,381 |
| Noble O. Carpenter, JrIndependent · Audit | 75,806 | 53,300 | 0 | 0 | 0 | 129,106 |
| Bryan O. ColleyIndependent · Compensation (Chair) · Nominating/Governance | 70,421 | 53,300 | 0 | 0 | 0 | 123,721 |
| Willis H. Stephens, JrIndependent · Compensation · Nominating/Governance | 66,146 | 53,300 | 0 | 0 | 0 | 119,446 |
| Richard GrellierIndependent · Executive · Nominating/Governance | 66,146 | 53,300 | 0 | 0 | 0 | 119,446 |
| Catherine U. BiddleNot independent · Executive | 61,546 | 46,175 | 0 | 0 | 0 | 107,721 |
| Charles D. UrstadtEmployee director · Board Chair · Executive | 0 | 0 | 0 | — | 0 | 0 |
| Willing L. BiddleEmployee director · Executive | 0 | 0 | 0 | — | 0 | 0 |
| Annual cash retainer | $33,075 |
|---|---|
| Annual equity retainer | — |
| Per board meeting fee | $2,415 |
| Committee chair fees (audit / comp / nom-gov) | 4,490 / 4,490 / 4,490 |
| Stock ownership guideline | — |
| Component | FY2022 |
|---|---|
| Cash retainers and fees | $500,442 |
| Equity awards (grant-date value) | $365,975 |
| All other compensation | $0 |
| Total cost of the board | $866,417 |
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 | Urstadt Biddle Properties | 2022 | Willing L. Biddle | $425,317 | $1,900,300 | $0 | $0 | $2,466,986 |
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, Willing L. Biddle | DEF 14A | 2023-02-07 | 0001206774-23-000158 | Section “Summary Compensation Table”. As printed: 2,466,986. Filing ↗machine: t76 · span 257371–257380 |
| 2 | Section 01, Stephan A. Rapaglia | DEF 14A | 2023-02-07 | 0001206774-23-000158 | Section “Summary Compensation Table”. As printed: 834,102. Filing ↗machine: t76 · span 269685–269692 |
| 3 | Section 01, John T. Hayes | DEF 14A | 2023-02-07 | 0001206774-23-000158 | Section “Summary Compensation Table”. As printed: 834,102. Filing ↗machine: t76 · span 261440–261447 |
| 4 | Section 01, Miyun Sung | DEF 14A | 2023-02-07 | 0001206774-23-000158 | Section “Summary Compensation Table”. As printed: 818,038. Filing ↗machine: t76 · span 273893–273900 |
| 5 | Section 01, Charles D. Urstadt | DEF 14A | 2023-02-07 | 0001206774-23-000158 | Section “Summary Compensation Table”. As printed: 220,505. Filing ↗machine: t76 · span 265634–265641 |
| 6 | Section 03, Willing L. Biddle RSU | DEF 14A | — | 0001206774-23-000158 | Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t29 · r3 · c19 · span 273148–273154 |
| 7 | Section 03, Willing L. Biddle PSU | DEF 14A | 2023-02-07 | 0001206774-23-000158 | Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t81 · r6 · c10 · span 288952–288961 |
| 8 | Section 03, John T. Hayes | DEF 14A | 2023-02-07 | 0001206774-23-000158 | Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t76 · r5 · c8 · span 261082–261089 |
| 9 | Section 03, Charles D. Urstadt | DEF 14A | 2023-02-07 | 0001206774-23-000158 | Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t76 · r9 · c8 · span 265272–265278 |
| 10 | Section 03, Miyun Sung | DEF 14A | 2023-02-07 | 0001206774-23-000158 | Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t76 · r17 · c8 · span 273535–273542 |
| 11 | Section 03, Stephan A. Rapaglia | DEF 14A | 2023-02-07 | 0001206774-23-000158 | Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t76 · r13 · c8 · span 269327–269334 |
| 12 | Section 03, Stephan A. Rapaglia | DEF 14A | — | 0001206774-23-000158 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t27 · r13 · c13 · span 249860–249867 |
| 13 | Section 03, John T. Hayes | DEF 14A | — | 0001206774-23-000158 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t27 · r5 · c13 · span 235154–235161 |
| 14 | Section 03, Miyun Sung | DEF 14A | — | 0001206774-23-000158 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t27 · r17 · c13 · span 257247–257254 |
| 15 | Section 07, pay ratio | DEF 14A | 2023-02-07 | 0001206774-23-000158 | Section “CEO Pay Ratio”. As printed: 17 : 1. Filing ↗machine: span 76758–76760 |
| 16 | Section 08, Robert J. Mueller | DEF 14A | 2023-02-07 | 0001206774-23-000158 | Section “Director Compensation”. As printed: 133,596. Filing ↗machine: span 390629–390734 |
| 17 | Section 08, Kevin J. Bannon | DEF 14A | 2023-02-07 | 0001206774-23-000158 | Section “Director Compensation”. As printed: 133,381. Filing ↗machine: span 382025–382130 |
| 18 | Section 08, Noble O. Carpenter, Jr | DEF 14A | 2023-02-07 | 0001206774-23-000158 | Section “Director Compensation”. As printed: 129,106. Filing ↗machine: span 384898–385003 |
| 19 | Section 08, Bryan O. Colley | DEF 14A | 2023-02-07 | 0001206774-23-000158 | Section “Director Compensation”. As printed: 123,721. Filing ↗machine: span 386328–386433 |
| 20 | Section 08, Willis H. Stephens, Jr | DEF 14A | 2023-02-07 | 0001206774-23-000158 | Section “Director Compensation”. As printed: 119,446. Filing ↗machine: span 389197–389302 |
| 21 | Section 08, Richard Grellier | DEF 14A | 2023-02-07 | 0001206774-23-000158 | Section “Director Compensation”. As printed: 119,446. Filing ↗machine: span 387759–387864 |
| 22 | Section 08, Catherine U. Biddle | DEF 14A | 2023-02-07 | 0001206774-23-000158 | Section “Director Compensation”. As printed: 107,721. Filing ↗machine: span 383459–383564 |
| 23 | Section 08, Charles D. Urstadt | DEF 14A | 2023-02-07 | 0001206774-23-000158 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 24 | Section 08, Willing L. Biddle | DEF 14A | 2023-02-07 | 0001206774-23-000158 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 25 | Section 06, 2023 vote | Form 8-K | 2023-03-24 | 0001029800-23-000038 | Item 5.07 · say-on-pay result. As reported: 92.43% (votes for as printed: 9,171,660). Filing ↗ |
| 26 | Section 06, 2020 vote | Form 8-K | 2020-03-20 | 0001029800-20-000019 | Item 5.07 · say-on-pay result. As reported: 98.87%. Filing ↗ |
| 27 | Section 06, 2017 vote | Form 8-K | 2017-03-23 | 0001029800-17-000021 | Item 5.07 · say-on-pay result. As reported: 98.89%. Filing ↗ |
| 28 | 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) |
| 29 | Section 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 |
| 30 | Section 09b board cost (computed) | Computed | — | — | Cash 500,442 + equity 365,975 + all other 0 = 866,417, summed across the director compensation table rows.machine: formula: Σ = 866,417 |
| 31 | Urstadt Biddle Properties (subject), Section 10b CEO total | DEF 14A | 2023-02-07 | 0001206774-23-000158 | CEO total compensation as printed in Urstadt Biddle Properties's own proxy. As printed: 2,466,986. Filing ↗machine: t76 · span 257371–257380 |
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