Andres R. Gavinet
About Andres R. Gavinet
Andres R. Gavinet is Chief Accounting Officer (CAO) of Alexandria Real Estate Equities, Inc. (ARE), serving since June 2012; age 56 as of April 2, 2025, and designated as an SEC “executive officer” and principal accounting officer on March 30, 2020 . He holds a B.S. in Accounting from California State University, Northridge and previously held senior finance roles at Ares Management (CAO), Younan Properties (CFO), Douglas Emmett (EVP Finance), and Arden Realty (CAO), and began his career in EY’s Kenneth Leventhal Real Estate Group . Company performance context: 2024 net income was $510.7 million and Company-Selected Measure FFO per share – diluted, as adjusted was $9.47; cumulative TSR value of an initial $100 investment for 2019–2024 measured at $71.6 (peer FTSE Health Care TSR $115.4) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Ares Management | Chief Accounting Officer | Not disclosed | Led accounting, reporting for a global alt asset manager |
| Younan Properties | Chief Financial Officer | Not disclosed | Oversaw accounting/finance/treasury; REIT compliance |
| Douglas Emmett, Inc. | EVP Finance | Not disclosed | Senior finance leadership for public real estate company |
| Arden Realty, Inc. | Chief Accounting Officer | Not disclosed | Principal accounting leadership at REIT |
| EY Kenneth Leventhal Real Estate Group | Assurance & Advisory (CPA) | ~5 years | IPO audit/attestation for REITs; debt/JV compliance |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| — | — | — | No public directorships or committee roles disclosed in proxies/8‑Ks for Gavinet. |
Fixed Compensation
| Component | Terms | Detail |
|---|---|---|
| Base salary | $375,000 (effective Mar 30, 2020) | Set in executive employment agreement upon designation as executive officer/principal accounting officer |
| Annual COLA | At least cost-of-living adjustment annually | Indexed to U.S. Department of Labor measure |
| Employment status | At-will | Agreement term begins Mar 30, 2020; terminable by either party per agreement |
| Bonus eligibility | Annual cash bonus | Eligible; specifics not disclosed for CAO; determined by Board |
| Equity eligibility | Periodic equity awards | Eligible; program administered under ARE’s stock plan |
Performance Compensation
| Element | Metric design | Weighting/structure | Vesting/Holding |
|---|---|---|---|
| Performance-based equity (company framework) | Three predetermined performance goals with a relative TSR modifier for 2024 awards to NEOs | NEO program: majority performance-based; cap at 150% of target for certain LTI grants | NEO awards: 3-year measurement; one-year post-vesting holding period; double-trigger vesting under CoC if not assumed/continued |
| Annual cash incentives (company framework) | Corporate and individual performance goals | Formulaic with disclosed targets/payouts for PEOs; Other NEOs also disclosed in proxy | Paid annually per Compensation Committee decisions |
Note: Company discloses detailed pay-for-performance mechanics for PEOs and Other NEOs; CAO-specific metric weights and payouts are not disclosed in proxies/8‑Ks.
Equity Ownership & Alignment
| Item | Data |
|---|---|
| Beneficial ownership (latest) | 88,165 shares as of Sep 15, 2025 (after issuer tax withholding of 1,091 shares upon RSU vesting) |
| Ownership as % of shares outstanding | ~0.051% (88,165 ÷ 172,989,043 shares outstanding on Mar 31, 2025) |
| Stock ownership guidelines | Executive officers must own ARE stock worth ≥3x base salary; NEOs must hold 50% of net after-tax shares until compliance |
| Compliance status | Company reports all senior officers are in compliance with ownership guidelines (reviewed annually by CFO) |
| Hedging/pledging policy | Hedging prohibited; pledging prohibited unless sufficient liquid collateral maintained to prevent forced sales during blackout |
| Equity plan CoC | Double-trigger acceleration; performance-based awards vest at greater of target or actual as of CoC/termination if not assumed/continued |
Insider transaction signals:
- 12/12/2024: Sold 19,999 shares; total proceeds ~$2,085,596 (Form 4); Form 144 filed on 12/10/2024, indicating planned sales .
- 09/15/2025: 1,091 shares withheld by issuer to cover taxes on RSU vesting; beneficial ownership reported 88,165 shares post transaction .
Employment Terms
- Designation: Executive officer and principal accounting officer effective Mar 30, 2020 .
- Agreement: At-will; base salary and annual COLA adjustment; eligible for annual bonus and periodic equity awards .
- Clawback: Company maintains robust compensation clawback policy applicable to directors and senior officers .
- Change-in-control (equity): Under the Amended 1997 Stock Award and Incentive Plan, awards generally feature double-trigger vesting (if not assumed/continued) and specified treatment for performance-based awards (greater of target or actual as of CoC/termination) .
- Anti-hedging/anti-pledging: Strict prohibitions with limited collateral-based exception for pledging; six-month prohibition on resale of open-market purchases .
Investment Implications
- Alignment: Gavinet is covered by executive stock ownership guidelines (≥3x salary) and firmwide anti-hedging/anti-pledging—positive for alignment; company reports compliance across senior officers .
- Selling pressure: December 2024 open-market sale (19,999 shares) and Form 144 indicate periodic liquidity events; subsequent 2025 withholding reflects RSU vest tax coverage rather than discretionary selling .
- Retention risk: Equity eligibility and plan-level double-trigger CoC protections support retention; however, the CAO’s employment agreement is at-will with no disclosed severance multiple, which may reduce guaranteed protection versus NEOs who have defined severance terms .
- Execution: Role spans accounting/reporting and capital markets (execution-critical for REIT balance sheet discipline); company performance metrics (FFO per share – diluted, as adjusted $9.47 in 2024; net income $510.7M) and TSR context frame overall pay-performance alignment, albeit CAO-specific incentive outcomes are not disclosed .