James Perry
About James B. Perry
James B. Perry (age 75) is an independent director of Gaming and Leisure Properties, Inc. (GLPI) who has served on the Board since 2017; he is retired and formerly Chairman/CEO of Isle of Capri Casinos and brings over 30 years of gaming industry leadership and M&A experience . He chairs GLPI’s Compensation Committee and sits on the Nominating & Corporate Governance Committee, with consistent meeting attendance alongside other directors in 2024 and attendance at the 2024 Annual Meeting .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Isle of Capri Casinos, Inc. | Director; Vice/Executive Vice Chairman; Chairman; Executive Chairman; Chief Executive Officer | Board 2007–2014; CEO Mar 2008–Apr 2011; Chairman 2009; Executive Chairman 2011 | Led gaming operator as CEO/Chairman; deep operator-side perspective for GLPI’s tenant-leasing model |
| Trump Entertainment Resorts, Inc. | Class III Director; Chief Executive Officer & President | Director May 2005–Jul 2007; CEO/President Jul 2005–Jul 2007 | Company filed Chapter 11 in Feb 2009 (post his tenure); prior bankruptcy involvement is a governance risk consideration |
| Argosy Gaming Company | President; Chief Executive Officer; Director | President/CEO Apr 1997–May 2003; Director 2000–Jul 2005 | Public casino operator leadership and board service; transactional and regulatory experience |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| — | — | — | No current public company directorships disclosed beyond GLPI . |
Board Governance
- Independence: GLPI’s Board determined all directors other than the CEO (Peter M. Carlino) are independent under Nasdaq/SEC rules; Perry is independent .
- Committee assignments and chair roles (2024 membership):
- Compensation Committee: Chair
- Nominating & Corporate Governance Committee: Member
- Board/committee activity: Board held 8 meetings; Audit 6; Compensation 5; Nominating & Corporate Governance 3 in 2024; each director attended ≥75% of meetings and attended the 2024 Annual Meeting .
- Lead Independent Director: Joseph W. Marshall serves as Lead Independent Director with defined responsibilities (agenda input, executive sessions, shareholder liaison) — strengthens independent oversight .
Fixed Compensation (Director)
| Component | Amount | Notes |
|---|---|---|
| Annual Cash Retainer | $130,000 | Standard non-employee director cash retainer |
| Committee Chair Retainer (Compensation) | $25,000 | For chairing the Compensation Committee |
| Committee Member Retainer (Compensation) | $15,000 | Member fee |
| Committee Member Retainer (Nominating & Corporate Governance) | $15,000 | Member fee |
| Annual Restricted Stock Award | $200,000 (grant-date value) | Restricted stock; standard director equity |
| 2024 Individual Compensation (Perry) – Cash Fees | $170,000 | Actual cash received in 2024 |
| 2024 Individual Compensation (Perry) – Stock Awards (#) | 4,053 shares | Granted in 2024 |
| 2024 Individual Compensation (Perry) – Stock Awards ($) | $200,016 | Grant-date fair value (ASC 718) |
| 2024 Total Director Compensation (Perry) | $370,016 | Cash + equity |
| Equity vesting for directors | Vests Dec 1 of grant year | Per director program terms |
Stock ownership guidelines for non-employee directors require holdings equal to 5× the annual cash retainer; as of Dec 31, 2024, all directors except Ms. Chase were in compliance (Perry is in compliance) .
Performance Compensation (Committee Oversight)
While director pay is not performance-based, Perry, as Compensation Committee Chair, oversees GLPI’s executive pay-for-performance program using defined financial and strategic metrics. Key annual bonus metrics and weights:
| Metric | Weight | Threshold | Target | Maximum | 2024 Actual |
|---|---|---|---|---|---|
| AFFO Growth (per diluted share) | 35% | $3.69 | $3.75 | $3.82 | $3.77 |
| Dividend Growth (per share) | 35% | N/A | $2.96 | $3.04 | $3.04 |
| Company Objectives (strategic/ESG/balance sheet) | 20% | 5 | 7 | 9 | 9 |
| Qualitative/Individual | 10% | Committee assessment | Committee assessment | Committee assessment | Achieved at maximum |
Long-term equity for executives: 3-year performance-based restricted stock with payouts based on relative TSR vs MSCI US REIT Index and triple-net REIT peers; 0–200% payout, capped at target if absolute TSR is negative . 2022 awards paid at 200% (MSCI) and 190% (net-lease peers) with 19.12% absolute TSR .
Other Directorships & Interlocks
| Category | Details |
|---|---|
| Compensation Committee interlocks | None; no members (including Perry) were officers/employees of GLPI or had relationships requiring related-party disclosure; no reciprocal board/comp committee interlocks with GLPI executives in 2024 . |
| Related-party transactions | None reportable for GLPI in 2024 . |
Expertise & Qualifications
- Gaming industry leadership (CEO/Chair at multiple operators), strategic planning, M&A, and board governance experience aligned with GLPI’s gaming REIT model .
- Independence and financial oversight exposure through committee leadership roles .
Equity Ownership
| Holder | Shares Beneficially Owned | Notes |
|---|---|---|
| James B. Perry | 40,147 | Includes 4,153 restricted shares; <1% of outstanding shares . |
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Stock ownership guidelines: 5× annual cash retainer; compliance confirmed for Perry as of Dec 31, 2024 . Using Dec 31, 2024 closing price of $48.16, Perry’s holdings approximate ~$1.93M, exceeding the ~$650k guideline threshold ($48.16 × 40,147; retainer $130k × 5) .
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Pledging/hedging: GLPI policy prohibits hedging and generally prohibits pledging (limited exceptions subject to Audit & Compliance Committee approval); no pledging disclosed for Perry .
Governance Assessment
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Strengths:
- Independent director with deep operator-side expertise, chairing the Compensation Committee and serving on Nominating & Corporate Governance — supports robust pay-for-performance and board refreshment processes .
- Strong attendance and engagement; Board and committees active in 2024, and all directors attended the Annual Meeting .
- Clear compensation governance: independent consultant (Ferguson Partners), rigorous bonus/TSR metrics, clawback policy, anti-hedging/anti-pledging policies, and strong say-on-pay support (95% in 2024) bolster investor alignment .
- Director ownership aligned with shareholders; Perry meets/exceeds ownership guidelines .
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Watch items / RED FLAGS:
- Prior bankruptcy involvement at Trump Entertainment Resorts (filed Chapter 11 in Feb 2009 following his earlier tenure as CEO through July 2007) — historical risk indicator requiring continued scrutiny of risk oversight, though not a current GLPI-related issue .
- GLPI’s CEO/Chairman combined role mitigated by a Lead Independent Director structure; continued effectiveness depends on robust executive sessions and independent agenda-setting .
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Conflicts and related-party exposure:
- No related person transactions disclosed; Compensation Committee members (including Perry) had no relationships requiring Item 404 disclosure, reducing conflict risk .
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Overall implication:
- Perry’s tenure and committee leadership support board effectiveness in compensation design and governance; strong ownership alignment and policy framework enhance investor confidence, with the historical TER bankruptcy noted as a contextual red flag to monitor in risk governance .