Velarion · Company Intelligence
Compensation Brief
Fiscal year 2024 · Filings through 2026-04-30

Veris Residential, Inc. (VRE)

Fiscal year 2024 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.

$7,393,104
Mahbod Nia total, FY2024
64th
CEO pay percentile vs peers
69:1
CEO-to-median pay ratio
95.32%
Say-on-pay support, latest vote
Companies that benchmark against VRE
8 companies name VRE as a compensation peer

Each company listed discloses VRE 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 VRE 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 2024

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Mahbod Nia$800,000$0$4,400,000$0$2,169,750$0$23,354$7,393,104
Chief Executive Officer
Anna Malhari400,0000750,0000560,250029,5511,739,801
Chief Operating Officer
Amanda Lombard400,0000700,0000545,250026,7301,671,980
Chief Financial Officer
Taryn Fielder400,0000700,0000515,250026,7301,641,980
General Counsel and Secretary
Jeffrey Turkanis400,0000650,0000515,250026,7301,591,980
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 officerFY2024 totalFY2023 totalFY2022 totalΔ FY20232024
Mahbod Nia$7,393,104$7,064,210$6,878,986+328,894
Anna Malhari1,739,8011,615,2301,254,688+124,571
Amanda Lombard1,671,9801,652,8101,698,783+19,170
Taryn Fielder1,641,9801,754,1621,816,554−112,182
Jeffrey Turkanis1,591,9801,754,3633,174,925−162,383

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.

03

Grants of plan-based awards — fiscal year 2024

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Jeffrey TurkanisPSU2024-03-129,48023,70137,922$325,000
Anna MalhariPSU2024-03-1210,93927,34743,755375,000
Anna MalhariRSU2024-03-1225,304375,000
Amanda LombardPSU2024-03-1210,21025,52440,838350,000
Taryn FielderPSU2024-03-1210,21025,52440,838350,000
Jeffrey TurkanisRSU2024-03-1221,930325,000
Mahbod NiaPSU2024-03-1264,175160,438256,7012,200,000
Amanda LombardRSU2024-03-1223,617350,000
Mahbod NiaRSU2024-03-12148,4482,200,000
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Jeffrey Turkanis$325,000$325,000$050.0%
Anna Malhari375,000375,000050.0%
Amanda Lombard350,000350,000050.0%
Taryn Fielder0350,0000100.0%
Mahbod Nia2,200,0002,200,000050.0%

% 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
Taryn FielderPSU183,609$3,053,418
Jeffrey TurkanisPSU173,6322,887,501
Jeffrey TurkanisRSU51,087849,577
Jeffrey TurkanisOption83,33416.33
Mahbod NiaRSU279,0734,640,984
Amanda LombardPSU147,3352,450,180
Anna MalhariRSU42,080699,790
Mahbod NiaPSU1,080,90317,975,417
Anna MalhariPSU147,3382,450,230
Taryn FielderRSU51,792861,301
Amanda LombardRSU44,618741,997
05

Incentive-plan design — the Compensation Discussion & Analysis

Total compensation opportunities targeted at levels that are generally comparable to target total compensation levels for similarly-situated executives of the Peer Group REITs

CEO STI target (% of salary)150%
CEO LTI target (% of salary)
Independent consultantFW Cook
Clawback policyTrue
Anti-hedgingTrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20252025-06-1163,039,6673,098,40526,66395.32%Passed
20242024-06-1271,493,7422,904,41133,30196.1%Passed
20232023-06-1476,389,8552,678,67026,81096.61%Passed
20222022-06-1568,244,8352,053,65942,06497.08%Passed
20212021-06-0959,697,1402,328,280481,31695.51%Passed
20202020-07-0163,017,6115,714,0636,943,26491.69%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
20252025-06-1195.32%a
20242024-06-1296.1%b
20232023-06-1496.61%c

a. Approved under the standard stated in the filing — “Abstentions, failures to vote and broker non-votes are not considered votes cast and, therefore, will have no effect on the outcome of this proposal.”.

b. Approved under the standard stated in the filing — “Abstentions, failures to vote and broker non-votes are not considered votes cast and, therefore, will have no effect on the outcome of this proposal.”.

c. Approved under the standard stated in the filing — “Abstentions, failures to vote and broker non-votes are not considered votes cast and, therefore, will have no effect on the outcome of 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)69 : 1
CEO total compensation$7,393,104
Median employee compensation$106,506
08

Director compensation — fiscal year 2024

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Tammy K. JonesIndependent · Board Chair · Audit · Nominating/Governance · Strategic Review$187,000$130,000$0$317,000
Howard S. SternIndependent · Audit (Chair) · Compensation117,500130,0000247,500
A. Akiva KatzIndependent · Compensation · Nominating/Governance · Strategic Review (Chair)109,500130,0000239,500
Frederic CumenalIndependent · Compensation (Chair) · Strategic Review102,000130,0000232,000
Nori Gerardo LietzIndependent · Nominating/Governance (Chair)97,500130,0000227,500
Victor B. MacFarlaneIndependent · Audit · Compensation92,500130,0000222,500
Stephanie L. WilliamsIndependent · Audit · Nominating/Governance92,500130,0000222,500
Ronald M. DickermanIndependent · Strategic Review81,755130,0000211,755
Mahbod NiaEmployee director · Strategic Review000
09

Board fee structure and ownership guideline

Annual cash retainer$75,000
Annual equity retainer$130,000
Per board meeting fee$0
Committee chair fees (audit / comp / nom-gov)25,000 / 15,000 / 15,000
Stock ownership guideline5x annual cash retainer
09b

Total cost of the board

ComponentFY2024
Cash retainers and fees$880,255
Equity awards (grant-date value)$1,040,000
All other compensation$0
Total cost of the board$1,920,255

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 Veris Residential, 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 Veris Residential, 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
1Empire State Realty2025Anthony Malkin$896,923$9,422,697$0$0$12,669,394
2Apartment Investment and Management Company2025Wes Powell700,0002,956,75701,841,59510,762,352
3Essex Property Trust, Inc2025Angela Kleiman944,5204,733,25404,362,21010,096,804
4UDR, Inc2025Thomas Toomey900,0009,010,120009,933,438
5Veris Residential, Inc.2024Mahbod Nia800,0004,400,00002,169,7507,393,104
6Armada Hoffler Properties, Inc2025Shawn Tibbetts672,3854,411,4280953,2506,091,906
7Brandywine Realty2025Gerard Sweeney800,0003,472,94001,520,0005,812,631
8JBG SMITH Properties2025W. Matthew Kelly750,0003,499,99401,260,0005,521,861
9Apartment Income REIT Corp.2022Terry Considine400,0003,400,00801,611,7205,416,020
10Independence Realty2025Scott Schaeffer800,0002,825,67501,127,2625,266,937
11Camden Property Trust2025Alexander Jessett646,5963,010,54801,491,0315,151,175
12American Assets Trust, Inc2025Adam Wyll750,0002,228,91601,428,7504,806,038
13Centerspace2025Anne Olson600,0001,391,37801,096,3193,105,197

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
Veris Residential, Inc.271.2%RSU 50 · PSU 50Yes — Absolute TSRFW Cook
American Assets Trust, Inc191%PSU 100Yes — Relative Total Shareholder Return (TSR) vs. S&P 600 Real Estate Indexnot disclosed
Apartment Income REIT Corp.134.31%LTIP Units 100NoFPL Associates, L.P.
Apartment Investment and Management Company175.39%PSU 67 · RSU 33NoFerguson Partners
Armada Hoffler Properties, Inc123%LTIP Units 100Yes — Relative TSR Performance v. Custom Peer GroupFerguson Partners
Brandywine Realty95%RSU 50 · PSU 50NoPay Governance LLC
Camden Property Trustnot disclosedPSU 100not disclosedCBIZ Talent and Compensation Solutions
Centerspace182.7%RSU 50 · PSU 50Yes — TSR relative to FTSE Nareit Equity IndexFerguson Partners Consulting L.P.
Empire State Realty164%PSU 55 · LTIP Units 45Yes — TSR performance relative to the Nareit Office IndexFerguson Partners
Essex Property Trust, Incnot disclosednot disclosednot disclosedMercer LLC
Independence Realty203.4%PSU 75 · RSU 25Yes — Relative 3-year TSRnot disclosed
JBG SMITH Properties168%not disclosedNoFerguson Partners Consulting
UDR, Incnot disclosedPSU 100Yes — Relative cumulative TSR versus apartment peersFPL Associates

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 Veris Residential, Inc. in fiscal 2024?
As disclosed, the highest-paid executive at Veris Residential, Inc. in fiscal 2024 was Mahbod Nia, Chief Executive Officer, with total compensation of $7,393,104.
How does Veris Residential, Inc.'s chief executive pay compare to its disclosed peer group?
The filing shows that the CEO's pay falls within the 64th percentile of the disclosed peer group.
What is Veris Residential, Inc.'s CEO-to-median employee pay ratio?
As disclosed, the CEO-to-median employee pay ratio was 69:1.
How did shareholders vote on Veris Residential, Inc.'s executive compensation?
Shareholders supported the executive compensation plan with 95.32% voting in favor at the latest vote.
How much does Veris Residential, Inc. spend in total on board compensation for fiscal 2024?
The company reported total board compensation for fiscal 2024 as $1,920,255.

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, Mahbod NiaDEF 14A2025-04-290000924901-25-000035Section “SUMMARY COMPENSATION TABLE”. As printed: 7,393,104. Filing ↗machine: t79 · r2 · c22 · span 686400–686409
2Section 01, Anna MalhariDEF 14A2025-04-290000924901-25-000035Section “SUMMARY COMPENSATION TABLE”. As printed: 1,739,801. Filing ↗machine: t79 · r14 · c22 · span 718644–718653
3Section 01, Amanda LombardDEF 14A2025-04-290000924901-25-000035Section “SUMMARY COMPENSATION TABLE”. As printed: 1,671,980. Filing ↗machine: t79 · r6 · c22 · span 697484–697493
4Section 01, Taryn FielderDEF 14A2025-04-290000924901-25-000035Section “SUMMARY COMPENSATION TABLE”. As printed: 1,641,980. Filing ↗machine: t79 · r18 · c22 · span 728613–728622
5Section 01, Jeffrey TurkanisDEF 14A2025-04-290000924901-25-000035Section “SUMMARY COMPENSATION TABLE”. As printed: 1,591,980. Filing ↗machine: t79 · r10 · c22 · span 707516–707525
6Section 03, Jeffrey Turkanis PSUDEF 14A2025-04-290000924901-25-000035Section “GRANTS OF PLAN-BASED AWARDS” · grants of plan-based awards table. Filing ↗machine: t81 · r13 · c27 · span 775332–775339
7Section 03, Anna Malhari PSUDEF 14A2025-04-290000924901-25-000035Section “GRANTS OF PLAN-BASED AWARDS” · grants of plan-based awards table. Filing ↗machine: t81 · r17 · c27 · span 783397–783404
8Section 03, Anna Malhari RSUDEF 14A2025-04-290000924901-25-000035Section “GRANTS OF PLAN-BASED AWARDS” · grants of plan-based awards table. Filing ↗machine: t81 · r17 · c18 · span 782542–782548
9Section 03, Amanda Lombard PSUDEF 14A2025-04-290000924901-25-000035Section “GRANTS OF PLAN-BASED AWARDS” · grants of plan-based awards table. Filing ↗machine: t81 · r9 · c27 · span 765989–765996
10Section 03, Taryn Fielder PSUDEF 14A2025-04-290000924901-25-000035Section “GRANTS OF PLAN-BASED AWARDS” · grants of plan-based awards table. Filing ↗machine: t81 · r21 · c27 · span 793086–793093
11Section 03, Jeffrey Turkanis RSUDEF 14A2025-04-290000924901-25-000035Section “GRANTS OF PLAN-BASED AWARDS” · grants of plan-based awards table. Filing ↗machine: t81 · r13 · c18 · span 774377–774383
12Section 03, Mahbod Nia PSUDEF 14A2025-04-290000924901-25-000035Section “GRANTS OF PLAN-BASED AWARDS” · grants of plan-based awards table. Filing ↗machine: t81 · r5 · c26 · span 758025–758034
13Section 03, Amanda Lombard RSUDEF 14A2025-04-290000924901-25-000035Section “GRANTS OF PLAN-BASED AWARDS” · grants of plan-based awards table. Filing ↗machine: t81 · r9 · c18 · span 765134–765140
14Section 03, Mahbod Nia RSUDEF 14A2025-04-290000924901-25-000035Section “GRANTS OF PLAN-BASED AWARDS” · grants of plan-based awards table. Filing ↗machine: t81 · r5 · c18 · span 757273–757280
15Section 07, pay ratioDEF 14A0000924901-25-000035Section “CEO Pay Ratio”. As printed: 69 : 1.machine: span 894210–894212
16Section 08, Tammy K. JonesDEF 14A2025-04-290000924901-25-000035Section “Director Compensation”. As printed: 317,000. Filing ↗
17Section 08, Howard S. SternDEF 14A2025-04-290000924901-25-000035Section “Director Compensation”. As printed: 247,500. Filing ↗
18Section 08, A. Akiva KatzDEF 14A2025-04-290000924901-25-000035Section “Director Compensation”. As printed: 239,500. Filing ↗
19Section 08, Frederic CumenalDEF 14A2025-04-290000924901-25-000035Section “Director Compensation”. As printed: 232,000. Filing ↗
20Section 08, Nori Gerardo LietzDEF 14A2025-04-290000924901-25-000035Section “Director Compensation”. As printed: 227,500. Filing ↗
21Section 08, Victor B. MacFarlaneDEF 14A2025-04-290000924901-25-000035Section “Director Compensation”. As printed: 222,500. Filing ↗
22Section 08, Stephanie L. WilliamsDEF 14A2025-04-290000924901-25-000035Section “Director Compensation”. As printed: 222,500. Filing ↗
23Section 08, Ronald M. DickermanDEF 14A2025-04-290000924901-25-000035Section “Director Compensation”. As printed: 211,755. Filing ↗
24Section 08, Mahbod NiaDEF 14A2025-04-290000924901-25-000038Section “Director Compensation”. As printed: 0. Filing ↗
25Section 06, 2025 voteForm 8-K2025-06-160001104659-25-059665Item 5.07 · say-on-pay result. As reported: 95.32% (votes for as printed: 63,039,667). Filing ↗
26Section 06, 2024 voteForm 8-K2024-06-140001104659-24-071525Item 5.07 · say-on-pay result. As reported: 96.1% (votes for as printed: 71,493,742). Filing ↗
27Section 06, 2023 voteForm 8-K2023-06-150001104659-23-071636Item 5.07 · say-on-pay result. As reported: 96.61% (votes for as printed: 76,389,855). Filing ↗
28Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
29Section 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
30Section 09b board cost (computed)ComputedcomputedCash 880,255 + equity 1,040,000 + all other 0 = 1,920,255, summed across the director compensation table rows.machine: formula: Σ = 1,920,255
31Empire State Realty, Section 10b CEO totalDEF 14A2026-04-020001104659-26-038890CEO total compensation as printed in Empire State Realty's own proxy. As printed: 12,669,394. Filing ↗machine: r1 · c18 · span 1693420–1693430
32Apartment Investment and Management Company, Section 10b CEO totalDEF 14A2026-04-240001193125-26-177149CEO total compensation as printed in Apartment Investment and Management Company's own proxy. As printed: 10,762,352. Filing ↗machine: r4 · c38 · span 1693533–1693543
33Essex Property Trust, Inc, Section 10b CEO totalDEF 14A2026-03-270000920522-26-000011CEO total compensation as printed in Essex Property Trust, Inc's own proxy. As printed: 10,096,804. Filing ↗machine: r2 · c21 · span 1017592–1017602
34UDR, Inc, Section 10b CEO totalDEF 14A2026-04-020000074208-26-000037CEO total compensation as printed in UDR, Inc's own proxy. As printed: 9,933,438. Filing ↗machine: t322 · r11 · c18 · span 3007170–3007179
35Veris Residential, Inc. (subject), 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
36Armada Hoffler Properties, Inc, Section 10b CEO totalDEF 14A2026-04-300001569187-26-000061CEO total compensation as printed in Armada Hoffler Properties, Inc's own proxy. As printed: 6,091,906. Filing ↗machine: span 682444–682453
37Brandywine Realty, Section 10b CEO totalDEF 14A2026-04-070001193125-26-145566CEO total compensation as printed in Brandywine Realty's own proxy. As printed: 5,812,631. Filing ↗machine: t214 · r4 · c24 · span 3086750–3086759
38JBG SMITH Properties, Section 10b CEO totalDEF 14A2026-03-180001104659-26-030932CEO total compensation as printed in JBG SMITH Properties's own proxy. As printed: 5,521,861. Filing ↗machine: t286 · r3 · c17 · span 1302909–1302918
39Apartment Income REIT Corp., Section 10b CEO totalDEF 14A2023-08-020001387131-23-009204CEO total compensation as printed in Apartment Income REIT Corp.'s own proxy. As printed: 5,416,020. Filing ↗machine: r2 · c8 · span 1283249–1283258
40Independence Realty, Section 10b CEO totalDEF 14A2026-03-190001437749-26-009071CEO total compensation as printed in Independence Realty's own proxy. As printed: 5,266,937. Filing ↗machine: t171 · r1 · c25 · span 836781–836790
41Camden Property Trust, Section 10b CEO totalDEF 14A2026-03-270001628280-26-021581CEO total compensation as printed in Camden Property Trust's own proxy. As printed: 5,151,175. Filing ↗machine: span 767748–767757
42American Assets Trust, Inc, Section 10b CEO totalDEF 14A2026-04-100001500217-26-000023CEO total compensation as printed in American Assets Trust, Inc's own proxy. As printed: 4,806,038. Filing ↗machine: r5 · c54 · span 545070–545079
43Centerspace, Section 10b CEO totalDEF 14A2026-04-030000798359-26-000029CEO total compensation as printed in Centerspace's own proxy. As printed: 3,105,197. Filing ↗machine: t47 · r7 · c7 · span 589259–589268
44Section 10a, Armada Hoffler Properties, Inc reciprocityDEF 14A0001569187-26-000061Armada Hoffler Properties, Inc's most recent proxy was read; its disclosed peer group does not include Veris Residential, Inc.. Filing ↗
45Section 10a, Apartment Income REIT Corp. reciprocityDEF 14A0001387131-23-009204Apartment Income REIT Corp.'s most recent proxy was read; its disclosed peer group does not include Veris Residential, Inc.. Filing ↗
46Section 10a, Essex Property Trust, Inc reciprocityDEF 14A0000920522-26-000011Essex Property Trust, Inc's most recent proxy was read; its disclosed peer group does not include Veris Residential, Inc.. Filing ↗
47Section 10a, Brandywine Realty reciprocityDEF 14A0001193125-26-145566Brandywine Realty's most recent proxy was read; its disclosed peer group does not include Veris Residential, Inc.. Filing ↗
48Section 10a, American Assets Trust, Inc reciprocityDEF 14A0001500217-26-000023American Assets Trust, Inc's most recent proxy was read; its disclosed peer group does not include Veris Residential, Inc.. Filing ↗
49Section 10a, UDR, Inc reciprocityDEF 14A0000074208-26-000037UDR, Inc's most recent proxy was read; its disclosed peer group does not include Veris Residential, Inc.. Filing ↗
50Section 10a, JBG SMITH Properties reciprocityDEF 14A0001104659-26-030932JBG SMITH Properties names Veris Residential, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
51Section 10a, Camden Property Trust reciprocityDEF 14A0000906345-25-000014Camden Property Trust's most recent proxy was read; its disclosed peer group does not include Veris Residential, Inc.. Filing ↗
52Section 10a, Apartment Investment and Management Company reciprocityDEF 14A0001193125-26-177149Apartment Investment and Management Company names Veris Residential, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
53Section 10a, Independence Realty reciprocityDEF 14A0001466085-25-000037Independence Realty's most recent proxy was read; its disclosed peer group does not include Veris Residential, Inc.. Filing ↗