Sign in

Mark J. Parrell

Chief Executive Officer and President at EQUITY RESIDENTIAL
Since January 2019
Age
57 years
Education
Holds a B.B.A. from the University of Michigan and a J.D. from Georgetown University Law Center.
Tenure
Joined Equity Residential in September 1999 and has advanced through diverse roles including Senior Vice President and Treasurer, Executive Vice President and Chief Financial Officer, President (since September 2018), and Chief Executive Officer (since January 2019).

Also at EQUITY RESIDENTIAL

AB
Alexander Brackenridge
Executive Vice President and Chief Investment Officer
BSA
Barry S. Altshuler
Executive Vice President – Investments
CMC
Catherine M. Carraway
Executive Vice President and Chief Human Resources Officer

About

Mark J. Parrell, born in 1967 and recognized for his extensive expertise in capital markets and real estate finance, has built a reputation as a transformative leader in the multifamily housing industry. His career reflects a deep commitment to the growth and success of Equity Residential, where he has played a pivotal role through various key positions over more than two decades.

Starting his journey in the company in September 1999, his progression through significant leadership roles—including serving as Senior Vice President and Treasurer, moving on to the role of Executive Vice President and Chief Financial Officer, and later assuming the responsibilities of President and Chief Executive Officer—highlights his continuous impact on the organization.

Beyond his work at Equity Residential, he has contributed to the industry through key board positions and active involvement in notable organizations, such as serving on the boards of T. Rowe Price Mutual Funds, Brookdale Senior Living Inc., and Aviv REIT, Inc., in addition to his commitment to community service and industry associations.

$EQR Performance Under Mark J. Parrell

Past Roles

OrganizationRoleDate RangeDetails
Equity Residential (EQR) Executive Vice President and Chief Financial Officer October 2007 to September 2018 N/A
Equity Residential (EQR) Senior Vice President and Treasurer August 2005 to October 2007 N/A
Equity Residential (EQR) Various Finance Roles Since September 1999 N/A

External Roles

OrganizationRoleDate RangeDetails
T. Rowe Price Mutual Funds Independent Member, Board of Directors Since July 2023 N/A
Real Estate Roundtable Member, Board of Directors N/AN/A
Nareit Treasurer and Member, Executive Board of Governors N/AN/A
University of Michigan (Weiser Center) Advisory Board Member for the Weiser Center for Real Estate N/AN/A
University of Michigan (Ross Business School) Advisory Board Member N/AN/A
National Multifamily Housing Council (NMHC) Member N/AN/A
Greater Chicago Food Depository Board Member and Chair, Finance Committee N/AN/A

Fixed Compensation

Data from  FY 2023
Component NameAmountPayment ScheduleAdditional Details
Annual Salary$900,000AnnualFixed base salary for 2023
All Other Compensation$15,438Annual/Lump SumIncludes company 401(k) contributions and executive physicals; also mentions a board match program cost of $225,500. Note: Board match program amount is separately highlighted but the fixed total remains $915,438.

Performance Compensation

Data from  FY 2023

Share Awards

MetricValue
Threshold (shares)44,020
Target (shares)88,040
Maximum (shares)176,080
Grant DateJanuary 1, 2023
Grant Date Fair Value$5,174,991 (for target shares)
Grant Date Stock Price$63.13 per unit
Monte Carlo Value$58.78 per unit
Vesting ScheduleFull cliff vest on January 1, 2026

Option Awards

MetricValue
Grant DateFebruary 15, 2023
Grant Date Fair Value$12.67 per option
Exercise Price$66.59
Threshold (units)44,020
Target (units)88,040
Maximum (units)176,080
Vesting ScheduleApproximately equal installments over 3 years

Non-Equity Incentive Plan Compensation

MetricValue
Performance Metrics - Corporate75% weight: comprised of Same Store NOI (25%), Normalized FFO per Share (25%), ESG (15%) and Normalized G&A & Property Management Costs (10%)
Performance Metrics - Individual25% weight: covering capital allocation, innovation, investor perception, corporate responsibility, succession planning, and political/regulatory matters
Threshold / Target / Maximum50% / 100% / 200%
Actual Corporate Achievement122.24%
Actual Individual Achievement90.00%
Overall Weighted Achievement114.18%
Performance Bonus - Target$2,025,000
Performance Bonus - Actual$2,312,145
Performance Equity Grant - Target$2,250,000
Performance Equity Grant - Actual$2,569,050
Vesting DetailsBonus paid in cash or as immediately vested units; Equity grants: Share Awards cliff vest in 3 years and Option Awards vest ratably over 3 years
Evaluation Period2023-2025 (three-year performance period)