Angela L. Kleiman
Also at Essex Property Trust Inc
About
Angela L. Kleiman, aged 53, has built an impressive profile in the real estate and investment sectors. She holds a strong educational background, having earned a Bachelor of Science degree from Northwestern University and a Master of Business Administration from the Kellogg School of Management at Northwestern University.
Before establishing her long-term commitment at Essex, she developed a robust career by holding key roles such as Senior Equity Analyst and Vice President of Investor Relations at Security Capital, along with a vice presidency at J.P. Morgan Real Estate & Lodging Investment Banking Group.
At Essex, her journey began in 2009 and evolved through significant leadership roles. She acted as CFO from October 2015 to December 2020 and as COO from January 2021 to March 2023, before her promotion to CEO and President on April 1, 2023. Her strategic influence has been marked by major initiatives, including leading financial transformations and enhancing investment platforms, thus underlining her pivotal role in the company’s sustained growth.
$ESS Performance Under Angela L. Kleiman
Past Roles
Fixed Compensation
Performance Compensation
Corporate Component
- Performance Metrics: Core FFO per diluted share growth and growth in same-property NOI.
- Conditions: Bonus tied to achieving these corporate goals. The bonus represented 150% of the corporate target bonus.
- Evaluation Period: 2023
- Vesting Schedule: Not applicable, as this is a cash-based award.
Individual Component
- Performance Metrics: Achievement of Essex's operations budget and business plan, piloting of the Maintenance Collections operating model, enhancement of operating margins via new technologies, succession planning, and achievement of ESG initiatives.
- Conditions: 100% achievement of individual goals resulted in full payout.
- Evaluation Period: 2023
- Vesting Schedule: Not applicable, as this is a cash-based award.
Overall Performance Compensation Summary
- Total Actual Incentive Bonus: $2,166,325 (combining both corporate and individual components).
- Additional Details: The annual bonus was structured under the Non-Equity Incentive Plan. No share-based awards were granted in 2023 as the annual equity awards were shifted to the first quarter of the following fiscal year.
This table and breakdown detail the performance compensation for Angela L. Kleiman in 2023 with exact dollar amounts, performance metrics, thresholds, targets, and outcomes.