Angela L. Kleiman

CEO and President at ESSEX PROPERTY TRUST

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

BMP

Barb M. Pak

CFO and EVP

Brennan McGreevy

Group VP and Chief Accounting Officer

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

Organization	Role	Date Range	Details
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 Name	Amount	Payment Schedule	Additional Details
Base Salary	Expected: $900,000 <br>Actual Paid: $862,500	Annual	Adjusted due to CEO transition during 2023
All Other Compensation	$47,823	Annual	No breakdown provided

Performance Compensation

Data from FY 2023

Corporate Component

Metric	Threshold Amount	Target Amount	Maximum Amount	Actual 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

Metric	Target Amount	Actual 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.