Robert J. Meyer
About Robert J. Meyer
Robert J. Meyer serves as Senior Vice President and Chief Accounting Officer (Principal Accounting Officer) of American Tower and signed the FY2024 Form 10-K on February 25, 2025; on November 7, 2025, he notified the company of his intention to retire after assisting with a transition until his successor is appointed, with retirement prior to end of 2026 . Education, age, and prior background are not disclosed in the latest proxy/filings reviewed. Company performance metrics that drive executive incentives for 2024: Total Revenue $10.1B (+1.1% YoY), Total Property Revenue $9.9B (+0.7% YoY), Net Income attributable to AMT $2.3B (+52.0% YoY), Adjusted EBITDA $6.8B (+1.9% YoY), Attributable AFFO per share $10.54 (+6.8% YoY) .
Fixed Compensation
Not itemized for Meyer (he is not a Named Executive Officer in the proxy; AMT discloses detailed salary/bonus/equity only for NEOs). The Compensation Committee sets annual base salary and target bonus using peer benchmarks and internal equity across executive officers . Annual performance incentive design (applicable to executive officers): 80% tied to company financial goals (30% Total Property Revenue excl. pass-through; 50% Adjusted EBITDA) and 20% to individual goals; NEOs earned 118% of target for 2024 .
Performance Compensation
AMT’s long-term incentive PSU framework (applies to executive officers, including accounting leadership; Meyer’s individual grants are not disclosed):
- PSU metrics and weights: 50% cumulative Attributable AFFO per Share; 30% average ROIC; 20% relative TSR vs S&P 500 REIT constituents; payout range 0–200% with TSR capped at target if absolute TSR is negative .
- RSUs vesting cadence: for grants on/after March 10, 2023, RSUs vest 1/3 annually over three years (previously 25% per year over four years) .
- Options (where granted historically): 10-year term; vest 25% annually; earlier vesting under death/disability/retirement program .
Performance payout context (NEO program, indicative of plan calibration):
| Metric | Weighting | Target Basis | Actual/Payout Evidence | Vesting Terms |
|---|---|---|---|---|
| Adjusted EBITDA (Annual Bonus) | 50% | Annual Company goal | 2024 NEO bonus paid at 118% of target based on goals achieved | Cash, annual |
| Total Property Revenue excl. pass-through (Annual Bonus) | 30% | Annual Company goal | Included in 118% payout for 2024 | Cash, annual |
| Individual Goals (Annual Bonus) | 20% | Pre-set individual objectives | Included in 118% payout for 2024 | Cash, annual |
| Attributable AFFO per Share (PSU) | 50% | 3-year cumulative | 2022 PSU awards vested March 10, 2025 at 135% payout with cumulative AFFO/share $30.17 | Equity, cliff at end of period |
| ROIC (PSU) | 30% | 3-year average | 2022 PSU awards: 9.2% average ROIC supporting 135% payout | Equity, cliff |
| Relative TSR (PSU) | 20% | Percentile vs S&P 500 REITs | Threshold 35th=50%; Target 55th=100%; Max 70th=200% (capped at target if absolute TSR <0) | Equity, cliff |
Equity Ownership & Alignment
- Stock ownership guidelines: CEO 6x base salary; other executive officers 3x base salary; required retention of 50% of net shares until in compliance; five-year window to reach target; as of March 17, 2025, all executive officers met or were within the timeframe to meet the target .
- Anti-hedging and anti-pledging: Executives and Directors are prohibited from hedging, short selling, or pledging AMT stock; insider trading policy imposes trading windows/controls .
- Clawback: Company must recoup erroneously awarded incentive-based compensation from Section 16 executive officers following a required financial restatement (three prior fiscal years), administered by the Compensation Committee .
Employment Terms
- Retirement/transition: Meyer will remain CAO until successor is appointed and then assist in transition; retirement to occur prior to end of 2026 .
- Severance framework (executive program, company-wide): Double-trigger equity vesting (acceleration only upon a Qualifying Termination within 14 days before or two years after a Change of Control); cash severance equals salary continuation (104 weeks for CEO; 78 weeks for EVPs), plus pro-rata target bonus; continued health benefits; release and restrictive covenants required; no excise tax gross-ups .
- Death/disability/qualified retirement equity treatment: provides acceleration/continued vesting per plan terms; PSUs generally settle at target on qualifying retirement for eligible officers after transition .
Past Roles
Not disclosed in the reviewed proxy and 8-Ks for Meyer. His current title is Senior Vice President and Chief Accounting Officer as of the FY2024 10-K and until transition .
External Roles
No external directorships/roles disclosed for Meyer in the reviewed materials.
Investment Implications
- Near-term retention risk mitigated: CAO has announced retirement with a structured transition; accounting continuity risk is limited by the assist-through-transition commitment and formal succession/search process .
- Alignment signals positive: Executive pay is heavily at-risk with quant metrics; long-term PSUs include AFFO, ROIC, and relative TSR; hedging/pledging prohibited; robust clawback policy in place .
- Change-of-control protection is shareholder-friendly: Double-trigger equity; no tax gross-ups; restrictive covenants and release required; reduces windfall risk and aligns with governance best practice .
- Trading/selling pressure: No Form 4 data for Meyer was available in filings reviewed; consider monitoring insider transactions for upcoming RSU/PSU vesting dates under standard schedules (annual RSU tranches; PSUs on three-year cycle) to anticipate potential sales around vest dates .