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    Angela L. Kleiman

    CEO and President at Essex Property Trust Inc
    Board
    Since April 1, 2023
    Age
    53 years
    Education
    Holds a Bachelor of Science degree from Northwestern University and a Master of Business Administration from the Kellogg School of Management at Northwestern University.
    Tenure
    Joined Essex in 2009, served as CFO from October 2015 to December 2020 and COO from January 2021 to March 2023, before being promoted to CEO and President in March 2023.

    Also at Essex Property Trust Inc

    BMP
    Barb M. Pak
    CFO and EVP
    BM
    Brennan McGreevy
    Group VP and Chief Accounting Officer
    JF
    John Farias
    SVP and Chief Accounting Officer

    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

    OrganizationRoleDate RangeDetails
    Essex Property Trust Chief Operating Officer (COO) and Senior Executive Vice President January 2021 - March 2023 Oversaw operational and strategic functions
    Essex Property Trust Chief Financial Officer (CFO) and Executive Vice President October 2015 - December 2020 Responsible for financial management and strategy
    Essex Property Trust Head of the Private Equity Group N/A Grew the private equity platform from $750M to $3B in gross assets
    Essex Property Trust Transaction Management Leader Merger completed April 2014 Led negotiations for the merger with BRE Properties, Inc.
    Security Capital Senior Equity Analyst and Vice President of Investor Relations N/A Managed over $2B of REIT investments and handled client communications
    J.P. Morgan Vice President, Real Estate & Lodging Investment Banking Group N/A Advised senior management on strategic business platforms and capital markets transactions
    Real Estate Development Management Early career role in real estate development management Started in 1991 Began her career in real estate development management

    Fixed Compensation

    Data from  FY 2023
    Component NameAmountPayment ScheduleAdditional Details
    Base SalaryExpected: $900,000 <br>Actual Paid: $862,500 AnnualAdjusted due to CEO transition during 2023
    All Other Compensation$47,823 AnnualNo breakdown provided

    Performance Compensation

    Data from  FY 2023

    Corporate Component

    MetricThreshold AmountTarget AmountMaximum AmountActual Bonus Paid
    Corporate Bonus$433,750 $867,500 $1,735,000 $1,298,825
    • 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

    MetricTarget AmountActual Bonus Paid
    Individual Bonus$867,500 $867,500
    • 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.