Ankit B. Patadia
About Ankit B. Patadia
Ankit B. Patadia, age 47, is Executive Vice President and Treasurer – Corporate Finance at Healthpeak Properties, Inc. (NYSE: DOC), serving in this role since February 2023 after joining the company in 2010; he previously held roles across treasury, capital markets, and FP&A and worked at Deloitte Consulting from 2004–2008 . He currently leads Finance & Capital Markets and remains a key member of the finance leadership team under the new CFO, supporting accounting, finance, IR, and portfolio management continuity following the April 2025 CFO transition . Company performance in 2024 included Normalized FFO per share of $1.81, Net Debt to Adjusted EBITDAre of 5.2x, ~$50+ million run-rate synergies tied to the Physicians Realty Trust merger and property management internalization, 5.4% merger-combined same-store cash NOI growth, and 8+ million square feet of lease executions, providing a backdrop for executive incentive outcomes .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Healthpeak Properties, Inc. | EVP & Treasurer – Corporate Finance | Feb 2023–present | Leads Finance & Capital Markets; continues in role supporting CFO organization post-appointment |
| Healthpeak Properties, Inc. | SVP & Treasurer – Corporate Finance | Feb 2019–Jan 2023 | Senior finance leadership across treasury/capital markets |
| Healthpeak Properties, Inc. | VP & Treasurer | 2018–2019 | Treasury leadership |
| Healthpeak Properties, Inc. | Assistant Treasurer & VP – FP&A | 2017–2018 | Led FP&A |
| Healthpeak Properties, Inc. | Assistant Treasurer & VP – Capital Markets/Treasury | 2016–2017 | Led capital markets/treasury |
| Healthpeak Properties, Inc. | Joined Healthpeak (various roles) | 2010–2016 | Progressive finance roles prior to VP appointments |
| Deloitte Consulting | Senior Consultant | 2004–2008 | Consulting experience informing finance and operations |
External Roles
No current outside public company directorships or external board roles disclosed for Patadia in the proxy or subsequent 8-Ks. Prior external employment: Deloitte Consulting (Senior Consultant, 2004–2008) .
Fixed Compensation
- Individual base salary, target bonus %, and actual bonus paid for Patadia are not disclosed (non-NEO). Healthpeak’s executive pay framework comprises base salary, annual cash incentive (STIP), and long-term equity incentive (LTIP) with rigorous, objective, at-risk metrics overseen by an independent Compensation Committee .
Performance Compensation
Annual Cash Incentive (STIP) Structure and 2024 Outcomes (Company-level metrics)
| Metric | Weighting (%) | Target | Actual | Payout | Notes |
|---|---|---|---|---|---|
| Normalized FFO per share | 35% | Mid-point of initial public 2024 guidance | $1.81 | 183.3% | Non-GAAP; payout interpolated; objective metric |
| Run-rate synergies (merger + internalization) | 20% | Based on initial guidance/business outlook | $53.6 million | 200% | Financial metric added in 2024 STIP |
| Corporate Impact scorecard | 15% | Multi-factor quantitative/qualitative goals | 19 points | 150% | Sustainability, human capital, governance outcomes |
| Individual performance | 30% | Committee-assessed | Discretionary | 0–150% | Based on role-specific objectives; linear interpolation |
Note: STIP results above reflect Company performance and Compensation Committee determinations for NEOs; Patadia’s specific STIP payout is not disclosed .
Long-Term Incentive (LTIP) 2024 Design (Company-wide program)
| LTIP Component | Weight | Performance Hurdles | Payout Curve | Holding/Vesting |
|---|---|---|---|---|
| Relative TSR vs healthcare REIT peers and compensation peers | 40% | Threshold: 25% below peer mean; Target: at peer mean; High: 25%+ above mean | 0%, 100%, 200% of target | 3-year cliff vest (2024–2026); 1-year post-vesting holding |
| Net Debt to Adjusted EBITDAre (leverage) | 20% | Threshold: 6.0x; Target: 5.5x; High: 5.0x | 0%, 100%, 200% of target | 3-year performance (2024–2026); promotes balance sheet strength |
| Retentive, service-based RSUs/PIUs with performance hurdle | 40% | 2024 Normalized FFO per share ≥ $1.30 | Time-based vesting over 3 years | 3 equal annual installments; 1-year post-vesting holding; 2024 hurdle exceeded |
2022–2024 performance-based awards paid below target overall (71% blended) reinforcing pay-for-performance alignment; ongoing 2023–2025 tracking was below target and 2024–2026 above target as of 12/31/2024; final outcomes to be determined post-periods .
Equity Ownership & Alignment
- Stock ownership guidelines: Executive officers (non-NEOs) must hold a minimum of 3x base salary in common stock and qualifying unvested time-based awards (performance-based awards count only upon vesting); compliance tested annually on May 15 .
- Anti-hedging policy prohibits directors, officers, employees (and applicable family members) from hedging Healthpeak securities via derivatives or similar instruments .
- Anti-pledging policy prohibits directors, officers, and employees (and applicable family members) from holding Healthpeak securities in margin accounts or pledging as collateral, mitigating forced-sale risk and misalignment .
- Clawback policy: Recovery of certain incentive compensation for executive officers in the event of a required accounting restatement due to material noncompliance with securities laws .
- Beneficial ownership: Individual share ownership for Patadia is not itemized in the Security Ownership table (directors and NEOs are listed; all officers and directors together held 1,631,204 shares and 323,228 options/RSUs/PIUs) .
Employment Terms
- Insider Trading Policy: Directors, officers, and employees are subject to pre-clearance procedures and trading restrictions, reinforcing compliance and governance standards .
- Severance Plan (non-CIC): Standardized severance protections apply to participants selected by the Compensation Committee (includes NEOs), with cash severance based on salary and annual incentive, pro-rata bonus, and continued vesting/accelerated vesting terms for service-based awards; performance awards continue based on actual results; restrictive covenants required .
- Change-in-Control (CIC) Plan: All current officers are participants. Benefits include double-trigger protection (termination without cause or for good reason within two years post-CIC), prorated bonus, benefits cash in lieu of COBRA, continued vesting per award terms, and non-solicit/non-compete during payout period; no tax gross-ups. CEO multiple is 3x; specified NEOs have 2.5x—multiples for other officers are not disclosed .
Investment Implications
- Alignment: Strong governance features—3x ownership guideline for executive officers, anti-hedging/anti-pledging, and clawback—support long-term alignment and reduce hedging/pledging-related red flags .
- Incentive rigor: STIP and LTIP emphasize objective metrics (Normalized FFO per share, merger synergies, relative TSR, leverage) with caps and multi-year performance periods, improving pay-for-performance linkage; 2022–2024 LTIP paid below target, demonstrating downside sensitivity .
- Retention risk: Participation in CIC Plan and time-based retentive awards with post-vesting holding periods mitigate near-term turnover risk; precise severance/CIC multiples for Patadia are not disclosed, but plan coverage for officers provides retention scaffolding .
- Trading signals: Anti-pledging and pre-clearance trading policy lower forced-sale/pledging pressure; individual Form 4 trading patterns for Patadia are not disclosed in proxy—no pledging allowed per policy .
- Organizational continuity: Following the April 2025 CFO transition, Patadia continues to lead Finance & Capital Markets within the finance leadership stack, suggesting stability across capital markets and treasury execution under new CFO leadership .