Tamara Gustavson
About Tamara Gustavson
Independent trustee at AMH since 2016; age 63. Background includes senior leadership in public real estate and investment roles, notably Senior Vice President–Administration at Public Storage and membership in American Commercial Equities; education: B.S., University of Southern California. AMH biography highlights governance, human capital, and public company board experience credentials.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Public Storage (NYSE: PSA) | Senior Vice President – Administration | Not dated (prior role) | Corporate administration; public company governance exposure |
| American Commercial Equities | Member | Since 2005 | Real estate investment oversight |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Public Storage (NYSE: PSA) | Director | Since 2008 | Public company directorship; sector interlock with other AMH trustees with PSA backgrounds (e.g., David Goldberg) |
Board Governance
- Independence: AMH’s Board determined in Feb 2025 that all trustees except Bryan Smith and Jack Corrigan are independent; Gustavson is designated independent and starred as such in the nominee slate.
- Committee assignments: No standing committee membership listed for Gustavson for 2025 nominees (Audit, Human Capital & Compensation, Nominating & Corporate Governance memberships shown for other trustees).
- Attendance and engagement: In 2024, the Board met 5 times and committees met 13 times; all trustees attended at least 75% of their meetings; 11 trustees attended the 2024 Annual Meeting.
- Executive sessions: Non‑management and independent trustees hold regular executive sessions, generally at each scheduled Board meeting; independent-only session at least annually.
- Committee meeting cadence (2024): Audit (4), Human Capital & Compensation (5), Nominating & Corporate Governance (4).
- Ownership policy and compliance: Trustees must hold shares equal to 5× prior‑year cash retainer (ex‑committee fees); all trustees are in compliance. Anti‑hedging and anti‑pledging policies in place (no new pledges permitted).
Fixed Compensation
| Component (2024) | Amount | Detail |
|---|---|---|
| Annual cash retainer | $80,000 | Non‑management trustee base retainer |
| Committee chair/member fees | $0 | No listed committee roles; Audit chair $30k; HCC/NCG chairs $20k; Audit member $11.5k; other committee member $7k (program detail) |
| Equity – RSUs (grant date 5/10/2024) | $150,000 | 4,159 RSUs at $36.07 grant price; vest in full one year from grant date |
| Total 2024 trustee compensation | $230,000 | Cash + RSU grant |
Performance Compensation
- AMH does not disclose performance‑based director compensation; trustee equity grants are time‑based RSUs that vest after one year.
Other Directorships & Interlocks
| Entity | Type | Nature of Interlock |
|---|---|---|
| Public Storage (NYSE: PSA) | Public company board | Gustavson is a long‑tenured director; AMH trustee David Goldberg is former Senior VP & General Counsel at PSA, adding network ties between AMH and PSA. |
Expertise & Qualifications
- Executive leadership; real estate/REIT; human capital; corporate governance; public company board/management; philanthropic activities.
Equity Ownership
| Metric | Value | Notes |
|---|---|---|
| Common shares beneficially owned (as of Mar 3, 2025) | 21,456,321 | Includes 30,000 shares underlying vested options |
| Ownership % of all common shares | 5.80% | Based on shares outstanding on Mar 1–3, 2025 |
| Options (vested/exercisable) | 30,000 | Fully vested and exercisable |
| RSUs outstanding (granted 5/10/2024) | 4,159; vest 5/10/2025 | One‑year vest schedule |
| Ownership guideline compliance | In compliance | Trustee guideline = 5× cash retainer |
| HF Investments 2010, LLC (Hughes Family) holdings (disclaimed by Gustavson) | 6,010,506 Class A; 635,075 Class B; 48,119,891 OP units | Manager is Anita McIntyre (sole manager; officer of Malibu Management, 50% owned by Gustavson); Gustavson disclaims beneficial ownership of HF LLC interests |
| Hughes Family voting and ownership influence | ~19.1% of eligible votes (incl. Class B); ~22.2% fully diluted ownership | Class B shares carry 50 votes/share; auto‑convert upon OP unit conversion |
Governance Assessment
- Strengths
- Independent status; robust governance framework (majority voting, annual election, independent Chair, executive sessions).
- Material personal ownership (5.8% of common), vested options, and RSUs align interests with shareholders; in compliance with ownership guidelines.
- No related‑party transactions disclosed involving Gustavson in 2024; Audit Committee reviews related‑party transactions under a formal policy.
- Potential risk indicators and conflicts
- Voting concentration via HF Investments 2010, LLC and Class B super‑voting shares; while Gustavson disclaims beneficial ownership, governance influence from Hughes family entities is notable (19.1% of eligible votes; 22.2% fully diluted). RED FLAG for minority investor influence risk.
- Sector interlocks with Public Storage (Gustavson director; Goldberg former PSA GC) may create perceived network influence, though no specific conflicted transactions are disclosed.
- No committee assignments listed for Gustavson in 2025 nominee slate, limiting direct oversight roles (Audit/HCC/NCG) relative to peers.
Overall: Gustavson is an independent, long‑tenured real estate executive with substantial aligned ownership at AMH and external board experience. Key monitoring items for investors include governance influence from Hughes family structures (Class B voting and HF LLC) and ensuring active board engagement despite lack of committee roles.