Jamie Barber
About Jamie Barber
Jamie Barber is General Counsel and Corporate Secretary of Global Medical REIT (GMRE). He is 48 and joined GMRE in May 2017 after roles in investment banking legal and REIT capital markets law, with a J.D. from Hofstra University (2003) and a B.S. in Accounting & Finance from Indiana University (1999) . 2024 incentive metrics for GMRE weighted AFFO/share, occupancy, leverage, acquisitions, and individual performance; results were mixed: acquisitions exceeded maximum ($111.8M), leverage beat target (44.2%), occupancy missed target (96.3%), and AFFO/share was below threshold ($0.89), driving Barber’s annual incentive outcomes .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Global Medical REIT | General Counsel & Corporate Secretary | May 2017–present | Company SEC compliance, corporate governance; legal oversight |
| FBR | Associate General Counsel | Jul 2012–May 2017 | Led SEC compliance and corporate governance; primary counsel for investment banking operations |
| Hunton Andrews Kurth LLP | Associate / Senior Associate – Real Estate Capital Markets | Aug 2004–Jun 2012 | Represented public REITs in SEC compliance, governance, equity/debt offerings, M&A |
| Sullivan & Cromwell LLP | Associate | Sep 2003–Aug 2004 | Represented issuers and underwriters in public/private equity and debt offerings |
External Roles
No external public-company directorships disclosed in the proxy for Barber .
Fixed Compensation
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Base Salary ($) | $275,000 | $290,000 | $290,000 |
| Target Bonus (%) | — | — | 80% of base (set by Compensation Committee) |
| Non-Equity Incentive (Cash) ($) | $114,642 | $139,896 | $113,281 |
| Stock Awards Grant-Date Fair Value ($) | $338,000 | $442,800 | $492,800 |
| Total Compensation ($) | $727,642 | $872,696 | $896,081 |
Performance Compensation
| 2024 Annual Incentive Metric | Weight | Target | Actual/Result | Payout Contribution | Vesting |
|---|---|---|---|---|---|
| AFFO per share | 25% | $0.95 | $0.89 | 0% of overall target | LTIP portion vests 50% 2025-02-26; 50% 2026-02-26 |
| Quarter-End Avg Occupancy | 15% | 96.5% | 96.3% | 12% of overall target | LTIP portion as above |
| Avg Debt-to-Assets (Leverage) | 25% | 44.5% | 44.2% | 26.9% of overall target | LTIP portion as above |
| Acquisitions | 15% | $80M | $111.8M | 22.5% of overall target | LTIP portion as above |
| Individual Performance | 20% | Discretionary | Discretionary | Discretionary | LTIP portion as above |
| 2024 Annual Incentive Award Outcome (Barber) | Value |
|---|---|
| Cash Award ($) | $113,281 |
| Dollar Value of Earned LTIP Units ($) | $75,521 |
| Number of Earned LTIP Units (#) | 7,826 |
| Vesting of Earned LTIP Units | 50% on 2025-02-26; 50% on 2026-02-26 |
| 2024 Grants (Plan-Based) – Barber | Grant Date | Threshold | Target | Maximum | Grant-Date Fair Value |
|---|---|---|---|---|---|
| Annual Incentive (cash) | 2024-02-21 | $69,600 | $139,200 | $208,800 | — |
| Annual Incentive (performance LTIP units) | 2024-02-21 | 4,809 | 9,617 | 14,426 | $92,800 |
| Long-Term Equity – Performance LTIP Units | 2024-02-21 | 10,673 | 21,345 | 42,690 | $200,000 |
| Long-Term Equity – Time-Based LTIP Units | 2024-02-21 | — | — | — | $200,000; 20,725 units |
Notes:
- Performance-based LTIP awards tie to absolute and relative total shareholder return over multi-year periods; 2022–2024 performance components were below threshold as of 12/31/2024 (awards remain contingent until settlement, then service-vest) .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial Ownership | 214,369 shares/units; less than 1% of shares outstanding |
| Pledging | No shares pledged by any executive officer/director as of Feb 28, 2025 |
| Hedging | Prohibited (short sales, derivatives, collars, exchange funds, etc.) |
| Stock Ownership Guidelines | Other executive officers must hold ≥1× base salary in stock/LTIP units by Apr 14, 2026 |
| Clawback Policy | Adopted Oct 18, 2023; covers incentive-based compensation upon financial restatement |
| Unvested/Vesting Schedule (Barber) | Units | Vesting |
|---|---|---|
| 2024 Annual Incentive – earned LTIP | 7,826 | 50% on 2025-02-26; 50% on 2026-02-26 |
| 2024 Long-Term Equity – time-based LTIP | 20,725 | Vests in full on 2027-02-21 |
| 2023 Long-Term Equity – time-based LTIP | 15,996 | Vests in full on 2026-02-23 |
| 2023 Annual Incentive – LTIP (remaining half) | 5,125 | Vested 2025-02-21 (remaining half) |
| 2022 Long-Term Equity – time-based LTIP | 6,191 | Vested 2025-02-24 |
Employment Terms
| Term | Details |
|---|---|
| Employment Type | At-will employee (no individual employment agreement) |
| Severance Plan Level | Level One participant |
| Severance (No-Cause) | 1× annual base salary; 12-month COBRA subsidy; time-based LTIPs eligible for vesting; performance awards remain eligible per award terms |
| Severance (Change-in-Control) | 2× (base + target bonus) if terminated within 6 months prior to or 12 months after a CIC; 18-month COBRA subsidy; immediate vesting of time-based LTIPs; performance awards remain eligible per terms; double-trigger for cash |
| Non-Compete / Non-Solicit | Severance Plan and award agreements include restrictions mirroring employment-agreement terms for other NEOs |
| Tax Gross-Ups | Not provided |
| Independent Comp Consultant | Farient used for market benchmarking |
| Potential Payments Upon Termination (as of 12/31/2024) – Jamie Barber | Death/Disability | Company Non-Renewal | Termination Without Cause | Termination for Good Reason | Change-in-Control Termination |
|---|---|---|---|---|---|
| Cash Severance ($) | $97,518 | N/A | $619,518 | — | $1,141,518 |
| LTIP Units Vesting Value ($) | $431,257 | N/A | $431,257 | $431,257 | $431,257 |
| Other (COBRA, etc.) ($) | $15,996 | N/A | $15,996 | — | $23,994 |
| Total ($) | $544,771 | N/A | $1,066,771 | $431,257 | $1,596,769 |
| Notes: Company stock price used for valuations was $7.72 on 12/31/2024 . |
Investment Implications
- Compensation alignment: Barber’s pay is modest vs peers (base $290k) with significant at-risk components tied to AFFO, occupancy, leverage, acquisitions, and TSR-based long-term equity; 2024 outcomes reflect mixed operating results (AFFO below threshold, leverage beat, strong acquisitions) .
- Retention and selling pressure: Multiple scheduled LTIP vesting dates in 2026–2027 (Feb 23, 2026; Feb 26, 2026; Feb 21, 2027) can create episodic liquidity windows; hedging/pledging prohibitions and stock ownership guidelines mitigate misalignment risk .
- Change-in-control economics: Double-trigger plan with 2× base+target bonus and accelerated vesting for Level One participants is standard for REITs—material CIC payout plus vesting could influence behavior in strategic transactions .
- Governance risk profile: Clawback in place; no tax gross-ups; independent consultant usage; no share pledging reported—overall governance controls are investor-friendly .
- Signal: Barber’s beneficial ownership is <1% with meaningful unvested equity; performance plan weightings keep incentives tied to core REIT levers (AFFO, leverage, occupancy, acquisitions), supporting pay-for-performance mechanics .