Hope B. Woodhouse
About Hope B. Woodhouse
Independent Trustee of Acadia Realty Trust (AKR) since January 2023; age 68. Former COO at Bridgewater Associates (2005–2009), Auspex Group (2003–2005), and Soros Fund Management (2000–2003); earlier Treasurer of the Funds at Tiger Management and MD, Fixed Income at Salomon Brothers (1983–1998). Education: A.B. in Economics (Georgetown University) and MBA (Harvard Business School). Recognized as an audit committee financial expert (based on service at another public company) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Bridgewater Associates | Chief Operating Officer; Mgmt Committee member | 2005–2009 | Led Accounting, Operations, Compliance, Counterparty Relations, Finance, HR, Facilities |
| Auspex Group, L.P. | President & COO | 2003–2005 | Global macro hedge fund operations leadership |
| Soros Fund Management LLC | COO; Mgmt Committee member | 2000–2003 | Oversaw non-investment functions (ops, compliance, finance/accounting, risk, tech, HR, facilities) |
| Tiger Management L.L.C. | Treasurer of the Funds | 1998–2000 | Treasury leadership for hedge fund complex |
| Salomon Brothers Inc. | Managing Director, Fixed Income | 1983–1998 | Senior markets and capital markets experience |
External Roles
| Company | Ticker | Role | Tenure | Committees/Chair |
|---|---|---|---|---|
| Two Harbors Investment Corp. | NYSE: TWO | Independent Director | Since 2012 | Chair, Audit; Member, Risk Oversight |
| Granite Point Mortgage Trust Inc. | NYSE: GPMT | Independent Director | Since 2017 | Chair, Compensation; Member, Nominating & Corporate Governance and Audit |
| Monro, Inc. | Nasdaq: MNRO | Independent Director | Since 2023 | Member, Compensation and Audit |
| Prior: Piper Jaffray Companies; Seoul Securities; Soros Funds Limited; The Bond Market Association | — | Director/Board roles | Prior years | Various board and industry committee roles |
Board Governance
| Item | Detail |
|---|---|
| Independence | Board affirms Ms. Woodhouse is independent under NYSE rules |
| AKR Committee Assignments | Compensation Committee (member since 2024); Nominating & Corporate Governance Committee (member since 2023) |
| Committee Chairs (AKR) | Not a current chair; 2024 chairs: Audit (Denien), Compensation (Spitz), N&CG (Zoba), Investment/Capital Markets (Thurber) |
| Attendance & Engagement | In 2024, each incumbent Trustee attended at least 75% of Board and assigned committee meetings; all Trustees attended the 2024 annual meeting virtually |
| Meetings Held (2024) | Board: 2 telephonic + 4 in person; Audit: 5 telephonic; Compensation: 2 telephonic + 1 in person; N&CG: 2 telephonic + 2 in person; Investment Committee: numerous telephonic discussions |
| Executive Sessions & Lead Independent | Executive session of independent Trustees at each regular Board meeting; Lead Trustee: Lee S. Wielansky |
| Compensation Committee Interlocks | None disclosed for 2024; no reciprocal interlocks with other companies |
Fixed Compensation (Director)
| Year | Cash Retainer ($) | Equity Retainer ($) | Committee Chair Fees ($) | All Other Comp ($) | Total ($) |
|---|---|---|---|---|---|
| 2024 (actual) | 75,000 | 100,182 | — | 5,297 | 180,479 |
| 2024 Program Terms (Standard) | 75,000 | 100,000 | Audit Chair: 25,000; Other Chairs: 15,000 | — | — |
| 2025 Program Terms (Standard) | 80,000 | 120,000 | Audit Chair: 25,000; Other Chairs: 20,000 | — | — |
Notes: Director equity is granted as Restricted Share Units or Restricted LTIP Units that vest over three years (33% per year). Trustees may elect to convert cash payments to equity at a 10% discount with one-year vesting; no Trustees deferred compensation for 2024. “All Other Compensation” primarily reflects dividends on LTIP/RSUs per footnotes .
Performance Compensation (NEO program oversight by Compensation Committee)
Directors do not receive performance-based pay; however, as a Compensation Committee member, Ms. Woodhouse helps oversee NEO incentive design. Key 2024 annual incentive metrics and outcomes:
| Performance Criteria | Weight | Threshold | Target | Maximum | Actual |
|---|---|---|---|---|---|
| FFO/share (before special items) | 22.5% | $1.11 | $1.14 | $1.17 | $1.16 |
| Core Leasing Activity (ABR added) | 20.0% | $5.0M | $6.0M | $7.0M | $15.8M |
| Leverage – Net Debt/EBITDA | 10.0% | 6.75x | 6.25x | 5.75x | 5.50x |
| Transactional Activity ($mm) | 17.5% | $100 | $300 | $750 | $597.3 |
| Strategic Plan Execution (score) | 10.0% | 1.00 | 3.00 | 5.00 | 4.00 |
| Individual | 20.0% | 1.00 | 3.00 | 5.00 | See CEO detail |
Long-term incentive performance metrics for 2025 grants (3-year period) used by the Company for NEOs:
| Metric | Weight | Threshold (50%) | Target (100%) | Max (200%) |
|---|---|---|---|---|
| Relative TSR vs. Nareit Shopping Center Index | 50% | 25th pct | 50th pct | 75th pct |
| Relative TSR vs. Nareit Retail Index | 25% | 25th pct | 50th pct | 75th pct |
| Same-Property NOI Growth | 25% | 2%–3% | 3% | 4% |
Say-on-Pay: 2024 advisory approval ~93.5% in favor, signaling strong shareholder support for the compensation program . Peer group oversight: 2024 peer set of 12 retail/REIT peers (e.g., BRX, KRG, SKT, MAC, ADC, PECO, UE, JBGS, IVT, CURB, CBL) with methodology reviewed by independent consultant FPC .
Other Directorships & Interlocks
- Current public boards: TWO (Audit Chair), GPMT (Comp Chair), MNRO (Comp & Audit). No AKR-disclosed related-party transactions with these entities; Audit Committee reviews any related person transactions; none disclosed under Item 404 for 2024 .
- Compensation Committee interlocks: None in 2024 (no reciprocal roles by AKR executives on other companies' comp committees) .
Expertise & Qualifications
- Capital markets and executive operating experience across alternative asset managers and broker-dealers; deep oversight of non-investment functions (risk, finance, compliance, ops, HR, tech) .
- Audit committee financial expert (via service at another public company) .
- Governance and risk oversight experience as Audit and Compensation committee chair at other public companies .
Equity Ownership
| Item | Detail |
|---|---|
| Beneficial Ownership (3/11/2025) | 4,125 common shares; <1% of class |
| Outstanding Unvested Trustee Equity (12/31/2024) | 11,678 RSUs/LTIP Units unvested (811 granted 1/10/2023; 5,005 on 5/4/2023; 5,862 on 5/2/2024); total fair value $282,141 (based on $24.16/share at 12/31/2024) |
| Ownership Guidelines | Non-employee Trustees: 5x total annual cash fees, to be met within 5 years; all have met except Ms. Woodhouse (joined Jan 2023; within compliance window) |
| Hedging/Pledging | Company prohibits hedging and pledging; Trustees in compliance as of the proxy date |
Potential Conflicts & Related-Party Exposure
- Item 404 (Related-Party Transactions): No director-related transactions disclosed; Audit Committee reviews any such transactions and approves only if in shareholders’ best interests .
- Multi-board load: Serves on three additional public boards (including two chair roles). Company has a “no over-boarding” guideline (with Board discretion); no exceptions disclosed, and 2024 attendance thresholds were met .
- Anti-hedging/anti-pledging policies mitigate alignment risks; share ownership guideline not yet met but within the 5-year window .
Governance Assessment
- Strengths: Independent trustee with deep capital markets and risk oversight experience; recognized audit committee financial expert; active roles on AKR’s Compensation and Nominating & Corporate Governance Committees; met attendance expectations; contributes to compensation governance that garnered 93.5% say-on-pay support in 2024 .
- Alignment: Receives a mix of cash and multi-year vesting equity; subject to stringent anti-hedging/pledging and ownership guidelines (5x cash fees) .
- Watch items / RED FLAGS: Ownership guideline not yet met as of 12/31/2024 (within required 5-year period); multi-board commitments (including two committee chair roles elsewhere) present potential time-commitment risk, though no attendance shortfall is disclosed . No related-party transactions or comp committee interlocks disclosed for 2024 .