Lori Wittman
About Lori Wittman
Lead Independent Director at Global Medical REIT (GMRE) since January 1, 2025; Director since May 2018; age 66. Recognized as an “audit committee financial expert” and independent under NYSE and SEC Rule 10A‑3; currently serves as Audit Committee Chair and ESG Committee member. Professional background spans CFO roles and capital markets leadership across public and private REITs; education includes an MBA in Finance and Accounting (University of Chicago) and a Master’s in City Planning (UPenn), plus a 2023 NACD cybersecurity certificate .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Aventine Property Group (private REIT) | Chief Financial Officer | Apr 2023–present | CFO oversight of finance/accounting |
| NetSTREIT Corp (NYSE: NTST) | Interim Chief Financial Officer | Nov 2022–Apr 2023 | Transition CFO; later Chair of the Board (see External Roles) |
| Big Rock Partners Acquisition Corp (SPAC) | Sr. Advisor; EVP & CFO | Sr. Advisor Feb 2020–May 2021; EVP & CFO Nov 2017–Feb 2020 | Public blank check company finance leadership |
| Care Capital Properties, Inc. (public REIT) | EVP & CFO | Aug 2015–Aug 2017 | Spinoff from Ventas; merged into Sabra Healthcare in Aug 2017 |
| Ventas, Inc. (public REIT) | SVP Capital Markets & Investor Relations | Pre‑2015 (dates not specified) | Oversaw capital markets, IR, marketing; earnings model oversight |
| Big Rock Partners, LLC (private equity) | CFO & Managing Principal | 2006–2011 | Led capital markets, accounting, investor activities |
| General Growth Properties; Heitman Financial; Homart Development | Various roles in investment/development | Not disclosed | Real estate investment/development experience |
External Roles
| Company | Role | Tenure | Committees/Impact |
|---|---|---|---|
| NetSTREIT Corp (NYSE: NTST) | Chair of the Board | Current | Previously Audit Chair at NetSTREIT before chair role |
| Freehold Properties | Director; Audit Committee Chair | Joined 2019; resigned Mar 2023 | Audit leadership; resignation disclosed |
| IMH Financial | Director; Audit Committee member; Compensation Committee Chair | Until Nov 2020 | Chaired Compensation; served on Audit |
| Green Realty Trust, Inc. | Director; Head of Audit Committee | Not disclosed | Led audit oversight |
Board Governance
- Independence and expertise: Independent under NYSE Section 303A.02/303A.07 and SEC Rule 10A‑3; designated audit committee financial expert .
- Roles at GMRE: Lead Independent Director since Jan 1, 2025; presides over executive sessions and facilitates communication with the Chair/CEO as needed .
- Committee assignments (2024 activity; composition as of Jan 1, 2025):
- Audit Committee: Chair (members: Wittman, Crowley, Cole, Cypher); 6 meetings in 2024; formal report signed “Lori Wittman, Chair” .
- Compensation Committee: Members Crowley (Chair), Cole, Marston; 6 meetings in 2024; retained independent consultant Farient Advisors LLC in 2024 .
- Nominating & Corporate Governance Committee: Members Cypher (Chair), Marston, Crowley, Cole; 7 meetings in 2024 .
- ESG Committee: Members Cole (Chair), Wittman, Cypher; 4 meetings in 2024 .
- Attendance and engagement: Board held 13 meetings in 2024; no director attended fewer than 75% of Board and committee meetings; all directors attended the 2024 annual meeting .
- Risk oversight: Financial and cybersecurity risks overseen by Audit Committee; Board reviews operations, IT, liquidity and capital resources regularly .
Fixed Compensation
| Year | Cash Retainer ($) | Committee/Leadership Fees ($) | Total Cash ($) |
|---|---|---|---|
| 2024 | Director cash retainer $55,000 (policy) | Lead Independent +$25,000; Audit Chair +$20,000; Audit member +$10,000; Comp Chair +$15,000; Comp member +$7,500; NCG Chair +$15,000; NCG member +$7,500; ESG Chair +$15,000; ESG member +$7,500 (policy) | Lori Wittman actual cash paid: $90,000 |
Notes:
- GMRE does not disclose per‑meeting fees for directors; compensation is via retainers and committee/leadership fees .
- Wittman’s 2024 actual cash reflects her specific roles that year; GMRE provides the policy schedule and the individual totals .
Performance Compensation
| Year | Equity Type | Grant Date | Grant Value ($) | Pricing Basis | Units Granted | Vesting |
|---|---|---|---|---|---|---|
| 2024 | Time‑based LTIP Units | May 15, 2024 | $80,000 | 10‑day VWAP $8.59 | 9,316 unvested LTIP Units (as of Dec 31, 2024) | Generally vest on first anniversary of grant date |
- LTIP units are profits interests in the operating partnership; redeemable into cash or 1:1 common stock at the Company’s election, subject to forfeiture provisions .
Other Directorships & Interlocks
| External Board | Sector Overlap with GMRE | Potential Interlock/Conflict |
|---|---|---|
| NetSTREIT (Chair) | Net‑lease retail; distinct from GMRE’s healthcare portfolio | No related party transactions disclosed with GMRE |
| Freehold Properties (former) | Net‑lease | No related party transactions disclosed with GMRE |
| IMH Financial (former) | Financial/real estate | No related party transactions disclosed with GMRE |
| Green Realty Trust (former) | Real estate | No related party transactions disclosed with GMRE |
Expertise & Qualifications
- Finance, accounting, capital markets, taxes, control systems; deep public healthcare REIT experience .
- MBA (Finance & Accounting, University of Chicago); Master’s in City Planning (Housing & Real Estate Finance, UPenn); NACD cybersecurity certificate (2023) .
- Designated audit committee financial expert and financially literate per NYSE/SEC standards .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Shares | Pledged | Unvested LTIP Units |
|---|---|---|---|---|
| Lori Wittman | 28,747 | <1% | None pledged (companywide statement for directors/NEOs as of Feb 28, 2025) | 9,316 (as of Dec 31, 2024) |
- Ownership policy: Directors must retain LTIP Units or common stock equal to 3x annual cash retainer; since March 5, 2024 all directors meet requirements .
Governance Assessment
- Strengths:
- Independent Lead Director and Audit Chair with recognized financial expertise; strong oversight of financial reporting and cybersecurity risks .
- Active engagement: 2024 Board and committee cadence robust; no attendance shortfalls reported .
- Alignment: Equity retainer via LTIP Units and 3x retainer ownership policy; no pledging of director shares .
- Use of independent compensation consultant (Farient) for director and officer programs in 2024, signaling disciplined pay governance .
- Potential Risks/Watch‑items:
- Time commitments across external roles (Chair of NetSTREIT plus GMRE Lead Independent Director and Audit Chair); however, proxy notes no Audit Committee member serves on more than three public company audit committees .
- Related‑party oversight: A disclosed family employment relationship pertains to another director (Henry Cole’s son); no transactions involving Wittman disclosed. Audit Committee pre‑approves related‑party matters per charter .
- RED FLAGS: None disclosed specific to Wittman (no pledging/hedging flagged; no related‑party transactions; attendance above minimum) .