Benjamin W. Schall
Also at AvalonBay Communities Inc
About
Benjamin W. Schall is the Chief Executive Officer and President of AvalonBay Communities, Inc., where he plays a pivotal role in steering the company’s strategic direction and operations. With a strong academic foundation comprising a Bachelor of Arts from Swarthmore College and an MBA from Harvard Business School, his educational background has been a cornerstone in his professional journey.
His tenure at AvalonBay has been marked by rapid progression, having joined the company as President on January 25, 2021, and subsequently being promoted to Chief Executive Officer on January 03, 2022. In his current role, he also contributes as a member of the Board of Directors, demonstrating a deep commitment to corporate governance and strategic leadership.
Beyond his executive responsibilities at AvalonBay, Schall’s career includes significant leadership experiences at other prominent real estate investment trusts. His previous roles have equipped him with a comprehensive understanding of the industry, enriching his capacity to drive growth and innovation. His active participation in industry associations further underscores his influence and dedication to the real estate sector.
$AVB Performance Under Benjamin W. Schall
Past Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| AvalonBay Communities, Inc. | President & Director | January 2021 | Former position before promotion to CEO & President |
| Rouse Properties, Inc. | Chief Operating Officer | 2012 - 2015 | Held during operations at a mall and retail REIT, which was later acquired |
| Seritage Growth Properties | Chief Executive Officer, President & Trustee | N/A | Led a publicly traded REIT focused on retail and mixed-use properties |
| Vornado Realty Trust | Senior Vice President | N/A | Oversaw office and retail asset management in a publicly traded REIT |
Fixed Compensation
| Component Name | Amount | Payment Schedule | Additional Details |
|---|---|---|---|
| Base Salary | $1,000,000 | Annual (2023) | Only fixed compensation component mentioned |
Performance Compensation
Cash Bonus
| Metric | Detail |
|---|---|
| Weighting | Corporate 80% / Individual 20% |
| Threshold | $750,000 (50% of base salary) |
| Target | $1,500,000 (150% of base salary) |
| Maximum | $3,000,000 (200% of base salary) |
| Actual Achievement (Corporate) | 141.3% of target |
| Actual Achievement (Individual) | 115.0% of target |
| Final Payout | $2,040,600 |
| Vesting Schedule | Not subject to vesting; one-time payout |
Stock Bonus
| Performance Measure | Weight | Achievement vs Target |
|---|---|---|
| Quarterly Same Store Residential Revenue vs. Target | 25% | 100.8% |
| Annual Same Store Controllable Operating Expenses vs. Target | 10% | 100.0% |
| Same Store Base Rental Revenue vs. Submarket Composite | 25% | 100.0% |
| Review of Development Completions (Capital Cost) | 15% | 85.7% |
| Review of Construction (Budget) | 8.33% | 74.0% |
| Review of Construction (Safety) | 8.33% | 126.0% |
| Review of Construction (Quality) | 8.34% | 115.0% |
| Overall Achievement Level | 100% | 99.3% of target |
| Detail | Value |
|---|---|
| Final Payout (Stock Bonus) | $1,787,400 |
| Grant Date | February 2024 (for 2023 performance) |
| Grant Date Fair Value | $1,787,400 |
| Grant Date Stock Price | $172.11 per share |
| Stock Option Election | 25% received as stock option |
| Vesting Schedule | Ratable over three years; accelerated upon termination events |