R. Blakeslee Gable
About R. Blakeslee Gable
R. Blakeslee “Blake” Gable, age 54, has served as an independent director of CTO Realty Growth, Inc. since 2018. He is Chief Executive Officer of Barron Collier Companies (private investment, agriculture, and land development) and brings operating expertise in large‐scale land development and real estate portfolio oversight. He holds a B.A. (History) from Tulane University and an Executive MBA from Florida Gulf Coast University . The Board has determined he is independent under NYSE rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Barron Collier Companies | Chief Executive Officer; prior leadership roles incl. project manager (Ave Maria, FL), VP Mineral Mgmt & Real Estate | Joined 1999; CEO currently | Oversees ~200 employees, >2.5M sq ft commercial properties, >80,000 acres of land |
| U.S. House of Representatives (Rep. Ed Pastor, AZ) | Legislative Director | Five years post-undergrad | Federal policy and stakeholder engagement experience |
External Roles
| Organization | Role | Dates |
|---|---|---|
| Naples Community Hospital | Director (not-for-profit health system) | Current |
| Greater Naples Chamber | Chair | Current |
| Florida Gulf Coast University | Board of Trustees, Chair (prior) | Prior |
| Enterprise Florida | Board member (prior) | Prior |
| YMCA (area) | Trustee (prior) | Prior |
| The Immokalee Foundation | Director (prior) | Prior |
Board Governance
- Independence and structure: Board majority independent; Gable is designated independent. Independent Chairman (Laura M. Franklin) leads executive sessions each quarterly meeting .
- Committee assignments: Governance Committee Chair (since July 29, 2020); Audit Committee member. Audit Chair is George R. Brokaw, and all Audit members (incl. Gable) meet NYSE financial literacy; Brokaw is the “audit committee financial expert” .
- Attendance and engagement: In 2024 the Board held 6 regular meetings plus 2 additional; Audit held 4; Compensation 2; Governance 1. All current directors attended >75% of Board and committee meetings and all attended the 2024 annual meeting (virtual) .
Fixed Compensation (Director, 2024)
| Item | 2024 Amount/Detail | Notes |
|---|---|---|
| Annual cash retainer (policy) | $50,000 | Paid quarterly; directors may elect stock in lieu of cash |
| Committee fees (policy) | Audit member: $11,250; Governance Chair: $15,000 | Chair/member fee schedule per policy |
| Fees earned (actual) | $76,214 | Reported 2024 “Fees Earned or Paid in Cash” (Gable elected stock in lieu) |
| Annual equity award (policy) | $62,500 | Granted as common stock; vests immediately; disposition prohibited until Board service ends |
| Stock awards (actual) | $62,492 | Aggregate grant date fair value (ASC 718) |
| Total director compensation (actual) | $138,706 | Sum of fees and stock awards |
| Shares for cash-in-lieu (actual) | 4,160 shares | Fully vested, unrestricted shares in lieu of cash retainers |
| Annual equity shares (actual) | 3,740 shares (2/14/2024 grant) | Based on 20-day trailing average price; subject to holding requirement during service |
Director stock ownership guideline: 5x annual cash retainer; compliance measured annually; new directors expected to meet within 5 years . Anti-hedging and anti-pledging policies apply to directors .
Performance Compensation
- CTO does not use performance-based pay for non-employee directors. Annual director equity is service-based common stock that vests immediately but is restricted from disposition until Board service concludes; there are no director performance metric targets disclosed .
Other Directorships & Interlocks
| Company | Type | Role | Interlock/Notes |
|---|---|---|---|
| None disclosed | Public | — | The 2025 proxy lists no current public company directorships for Gable in the past five years . |
Related party/affiliations:
- Company disclosed related party transactions in 2023–2024 involving Seaport Entertainment Group (former CTO CFO now CFO of SEG) and arrangements with affiliate Alpine Income Property Trust; none involve Gable or Barron Collier Companies. Related party transactions are reviewed/approved under a written policy by the Audit Committee; any interested Audit member does not vote .
- Section 16(a) compliance: No delinquent filings disclosed for Gable in 2024; one late Form 4 pertained to a different director (Haga) .
Expertise & Qualifications
- Real estate investment, development, and operations leadership (Barron Collier CEO overseeing >2.5M sq ft and >80,000 acres) .
- Governance experience as Governance Committee Chair and Audit Committee member; Audit financial literacy as required by NYSE for committee members .
- Public policy background (former Legislative Director to U.S. Rep. Ed Pastor) .
- Education: B.A., Tulane; Executive MBA, Florida Gulf Coast University .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Class | Notes |
|---|---|---|---|
| R. Blakeslee Gable | 44,155 | <1% | As of April 17, 2025; “other shares beneficially owned” (no options/restricted counted for directors) |
Policy alignment:
- Ownership guideline: 5x director cash retainer (measured annually; 5-year compliance window) .
- Anti-hedge/pledge: Directors prohibited from hedging or pledging company stock .
- Annual equity award subject to service-hold restriction until Board service ends .
Governance Assessment
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Strengths supporting investor confidence:
- Independent director with relevant operating expertise in real estate; serves as Governance Committee Chair and Audit Committee member; Board has independent Chair and routine executive sessions .
- Strong engagement/attendance record across Board/committees; all directors >75% attendance in 2024 and attended the annual meeting .
- Alignment via equity: elected to take retainers in stock (4,160 shares) and received annual grant (3,740 shares); ownership guideline of 5x cash retainer; no hedging/pledging allowed .
- No related-party transactions disclosed involving Gable or his affiliates; robust related-party review policy with Audit Committee oversight and recusals for interested members .
- Company-wide say-on-pay support was high in 2024 (97.5% “FOR”), indicating broad shareholder support for compensation governance practices .
-
Potential watch items:
- External CEO role at a private real estate and land development firm (Barron Collier Companies) could present conflict potential if CTO were to transact in overlapping geographies or land assets, though the proxy discloses no such transactions; any related-party matters would fall under the Company’s Related Party Transactions Policy and Audit Committee oversight .
- Director equity awards vest immediately (albeit restricted from disposition until service ends), which reduces forfeiture risk relative to time-based vesting; however, the stock-hold restriction and ownership guidelines help mitigate misalignment risk .
Overall, Gable appears to be an engaged, independent director with relevant domain expertise, meaningful stock-based alignment, and no disclosed conflicts or red flags. Committee roles (Governance Chair; Audit member) and attendance/engagement indicators support board effectiveness .