Ola Oyinsan Hixon
About Ola Oyinsan Hixon
Independent trustee of Centerspace since January 23, 2024; age 43. Executive Director at PGIM Real Estate, based in New York, with portfolio management responsibilities across U.S. value-add equity and affordable housing strategies; prior roles at KKR, Blackstone (LivCor and Invitation Homes), JBG Companies, UBS, and Citigroup. Education: BBA, University of Michigan (Ross); MBA, University of Pennsylvania (Wharton). Independent under NYSE standards; currently serves on the Compensation Committee .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| PGIM Real Estate | Executive Director; portfolio manager U.S. Value-Add; responsible for investment strategy, transactions, asset management, investor relations (affordable housing funds) | Not disclosed | Senior investment leadership in RE private equity |
| KKR & Co. | Principal; portfolio and asset management for real estate PE funds (national footprint) | Not disclosed | Managed fund-level asset performance |
| The Blackstone Group | Managed LivCor (multifamily) and Invitation Homes (SFR) portfolio companies | Not disclosed | Operational leadership at large real estate platforms |
| JBG Companies | Professional role (not specified) | Not disclosed | Real estate experience |
| UBS | Professional role (not specified) | Not disclosed | Investment/finance experience |
| Citigroup (IBD) | Investment banking | Not disclosed | Corporate finance foundation |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| ULI Multifamily Gold Council | Member | Not disclosed | Industry best-practice forum |
| Real Estate Executive Council (REEC) | Member | Not disclosed | Diversity and senior networking |
| City Parks Foundation (NYC) | Board member | Not disclosed | Non-profit governance |
Board Governance
- Independence: Board determined Hixon is independent; only CEO is non-independent among nominees .
- Committees: Compensation Committee member (Rodney Jones‑Tyson, Chair; Hixon; Mary J. Twinem) .
- Attendance: In 2024, Board met 9 times; Compensation Committee met 5. All nominees attended ≥75% of Board/committee meetings on which they served .
- Leadership: Independent Chair (John A. Schissel); separate Chair/CEO roles; regular executive sessions at least quarterly .
- Governance policies: Clawback (mandatory and discretionary), no pledging/hedging of company securities, majority voting with resignation policy, term limits (12 years), annual self-evaluations .
- Related party transactions: None >$120,000 since start of 2024; Audit Committee oversees RPT policy .
- Interlocks: Company states no interlocking directorships .
Fixed Compensation (Director)
| Component | Amount | Notes |
|---|---|---|
| Annual cash retainer | $50,000 | Standard for non-management trustees |
| Committee member retainer (Compensation) | $7,500 | Per committee membership |
| 2024 cash earned (Hixon) | $37,285 | Actual cash paid; reflects service period |
| Audit Committee member retainer | $10,000 | Not applicable to Hixon |
| Chair fees (if applicable) | N/A | Not a committee chair |
Performance Compensation (Director)
| Award Type | Grant Date | Quantity | Grant-Date Fair Value | Vesting | Performance Metrics |
|---|---|---|---|---|---|
| RSUs (annual) | May 20, 2024 | 1,307 | $85,020 | Vest in full on May 20, 2025 if serving | None disclosed; director RSUs are time-based |
| Additional Chair RSUs | N/A | N/A | N/A | N/A | N/A |
Directors do not receive option awards or performance-based equity; annual RSUs are time-based with one-year cliff vesting, prorated upon retirement for trustees with >1 year service before grant .
Other Directorships & Interlocks
| Company | Exchange/Ticker | Role | Notes |
|---|---|---|---|
| None disclosed | — | — | No public company boards disclosed for Hixon |
| Company policy | — | — | “No interlocking directorships” across board/comp committees |
Expertise & Qualifications
- Real Estate Private Equity: Portfolio/asset management across multifamily and single-family rental platforms; value-add strategy and affordable housing fund expertise .
- Capital markets and operations: Senior roles at KKR, Blackstone portfolio companies, and institutional platforms .
- Education: BBA (Michigan Ross), MBA (Wharton) .
- Industry leadership: ULI Multifamily Gold Council; REEC; NYC civic non-profit board role .
Equity Ownership
| Holder | Common Shares Owned | % of Class | Unvested RSUs | Ownership Guideline Compliance |
|---|---|---|---|---|
| Ola Oyinsan Hixon | 440 | <1% | 1,307 (unvested, Dec 31, 2024) | Company states all non-management trustees met or exceeded 5x cash retainer requirement as of Dec 31, 2024; trustees must retain 60% of shares from awards |
- Ownership policy: Non-employee trustees required to own 5x annual base cash compensation within five years; includes shares to vest within 12 months; 60% retention of shares from equity awards; prohibitions on pledging/hedging .
- Section 16 filings: RSU grant to Hixon on Jan 23, 2024 was reported on Feb 1, 2024 (administrative delay noted by company) .
Governance Assessment
- Board effectiveness: Hixon adds deep real estate PE and multifamily/single-family platform experience to the Compensation Committee—aligned with REIT operating and capital allocation oversight .
- Independence & conflicts: Independence affirmed; company reports no related-party transactions >$120,000; policies prohibit pledging/hedging and require majority voting with resignation policy, reducing alignment risks .
- Engagement: ≥75% meeting attendance among nominees; quarterly executive sessions; independent Chair structure supports oversight quality .
- Director pay & alignment: Mix of cash retainer and time-based RSUs; 5x retainer stock ownership guideline and 60% retention requirement enhance skin-in-the-game; company states compliance achieved among non-management trustees .
- RED FLAGS: None material disclosed. Minor Section 16 filing timeliness issue noted (administrative delays, including Hixon’s grant report timing). No interlocking directorships or related-party transactions; hedging/pledging prohibited .
Additional signals: 2024 say-on-pay approval was ~96.29%, indicating broad shareholder support for compensation governance (for executives; contextual board signal) .