Deborah Smith
About Deborah Smith
Deborah Smith, age 52, is an independent director of Aimco (AIV) since January 2021. She is Co‑Founder and CEO of The CenterCap Group, and also serves as CEO of its subsidiaries CC Securities and CenterCap Advisors; she holds Bachelor of Economics (Hons) and Bachelor of Law (Hons) from the University of Sydney . The Board has affirmatively determined she is independent under NYSE standards .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| The CenterCap Group | Co‑Founder & CEO | 2009–present | Heads Strategic Capital, M&A and execution; involved in >$100B of M&A/restructuring and >$500M private capital raising across retail, multifamily, office, hotel and industrial sectors |
| CC Securities | Chief Executive Officer | 2011–present | Subsidiary leadership; capital markets activities |
| CenterCap Advisors | Chief Executive Officer | 2019–present | Subsidiary leadership; advisory services |
| CB Richard Ellis Investors | Co‑Head of M&A; Senior Managing Director; Global Leadership Team | 2007–2009 | Oversaw strategy and best practices execution |
| Lehman Brothers; Wachovia Securities; Morgan Stanley | Investment banker | Not disclosed | Corporate finance and capital markets experience |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Other public company boards | None | — | No other public directorships disclosed |
| Frequent industry engagement | Speaker/author | Ongoing | Frequent speaker and author of industry articles |
Board Governance
- Committee assignments: Member, Nominating, Environmental, Social, and Governance Committee; Member, Investment Committee .
- Chair roles: None; current chairs are Quincy Allen (Nominating, ESG) and Patricia Gibson (Investment) .
- Independence: Affirmed independent by the Board; eight of nine directors are independent; all standing committees are solely independent directors .
- Attendance: Board held 5 meetings; committees held Audit 5, Compensation 7, Nominating 4, Investment 4; no director attended fewer than 75% of Board and committee meetings in 2024; all directors attended the 2024 Annual Meeting .
- Stockholder engagement and governance: Majority voting with resignation policy; proxy access; systematic engagement with holders of ~two‑thirds of outstanding shares; independent chairman; separated CEO/Chair roles .
Fixed Compensation
| Year | Component | Amount | Notes |
|---|---|---|---|
| 2024 | Fees Earned or Paid in Cash | $0 | Directors could elect up to 50% cash ($115,000); Smith took stock only |
| 2024 | Stock Awards (grant date fair value) | $224,267 | Granted Jan 31, 2024; fair value at $7.43; shares determined using 5‑day average price $7.62 |
| 2024 | Total | $224,267 | No meeting fees; no option awards granted in 2024 to non‑employee directors |
| 2025 | Annual retainer (structure) | $220,000 | Reduced from $230,000; payable up to $75,000 in cash with remainder in stock; no meeting fees |
| 2025 | Chair retainers (if applicable) | See notes | Chairman $65,000; Audit Chair $25,000; Compensation Chair $15,000; Nominating Chair $14,000; Investment Chair $20,000 (Smith is not a chair) |
Performance Compensation
- Independent director compensation is retainer‑based; no disclosed performance metrics, bonuses, PSUs, or performance‑conditioned awards for non‑employee directors; equity is delivered as stock for the retainer; no meeting fees .
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Other public company boards | None disclosed |
| Interlocking directorships | Company policy states no Aimco management serves on boards or compensation committees where an Aimco director is an employee |
| Overboarding limits | Guidelines limit service to ≤4 boards and ≤3 audit committees; audit charter restricts service on >2 other public company audit committees absent Board determination |
Expertise & Qualifications
- Investment & Finance, Capital Markets, Corporate Transactions, Business Strategy & Operations, Real Estate; Legal training (LLB) and marketing/branding perspectives; involved in large‑scale transactions .
- Board skills matrix indicates Smith contributes across business operations, capital markets, financial literacy, investment/finance, legal, marketing/branding, property/asset operations, real estate, and talent development .
Equity Ownership
| As of | Shares of Common Stock | Options Exercisable ≤60 days | Ownership % of Common Stock | Hedging/Pledging | Ownership Guidelines Compliance |
|---|---|---|---|---|---|
| April 18, 2025 | 300,840 | 182,488 | Less than 0.5% | None of directors' or NEOs' securities subject to hedging or pledging; policy prohibits hedging and pledging | Independent directors are required to own ≥5x annual cash retainer within five years; all independent directors exceed this amount as of the filing date |
Note: As of Dec 31, 2024, Smith held a fully vested and exercisable option to acquire 170,323 shares; no other non‑employee directors held stock options or unvested stock awards as of that date .
Governance Assessment
- Strengths: Independent director with deep real assets and capital markets expertise; active committee roles on Nominating/ESG and Investment; strong attendance; board practices include majority voting with resignation, proxy access, independent chair, and regular stockholder engagement—all supportive of board effectiveness .
- Alignment: Director pay shifted toward equity retainer; 2025 structure reduced total fee and lowered cash cap to $75k, reinforcing equity alignment; independent director stock ownership guidelines at 5x cash retainer with confirmed compliance .
- Watch items / potential conflicts: Smith is the only non‑employee director disclosed with outstanding options, a structural difference versus peers; monitor incentive alignment and any future option exercises; oversight of related‑party transactions sits with the Nominating, ESG Committee (of which she is a member), including a standing review/approval policy and specific arrangement involving the CEO’s father—process appears robust, but warrants ongoing scrutiny for impartiality .
- Investor sentiment: Strong support in director elections and executive compensation advisory votes at 2024 and 2025 annual meetings (e.g., 2025 say‑on‑pay “For” 99,538,669 vs “Against” 2,282,604; Deborah Smith elected with 100,546,028 “For” vs 1,300,149 “Against”)—indicative of confidence in governance programs .