Eric Chesin
About Eric Chesin
Executive Vice President and Chief Strategy Officer at Anywhere Real Estate Inc. (HOUS), appearing on the company’s Executive Committee in the 2024 and 2025 proxy statements . He previously led the Strategy Office and was promoted to Senior Vice President, Head of Strategy in January 2018, with responsibilities for developing and executing corporate strategy . Company performance during his tenure includes 2024 revenues of $5.7B (+1% YoY), Operating EBITDA of $290M (+14% YoY), and ~$125M of realized cost savings; Free Cash Flow was $50M ($70M before a $20M settlement) . PSU cycles tied to relative TSR underperformed (2022–2024 PSUs paid 0%), reflecting sector weakness and reducing retentive value of equity awards industry-wide .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Anywhere/Realogy | SVP, Head of Strategy | 2018–present (promotion Jan 2018) | Led Strategy Office; summarized and drove strategy to grow EBITDA and revenue; positioned business to capitalize on demographic and agent trends |
| Anywhere Real Estate Inc. | EVP, Chief Strategy Officer | 2024–present (Executive Committee) | Senior leadership role on Executive Committee guiding strategy amid industry practice changes and transformation initiatives |
External Roles
No external board or officer roles disclosed for Chesin in HOUS filings reviewed.
Fixed Compensation
Not disclosed in proxy NEO tables (Chesin is not a named executive officer; 2024 NEOs are CEO, CFO, President & CEO of Integrated Services, CTO, and President & CEO of Brands & Advisors) . Company-wide NEO program includes base salary plus annual cash incentive (EIP) and long-term equity (PSUs and RSUs), but Chesin’s specific salary and target bonus are not reported .
Performance Compensation
Company design for NEO annual incentive (EIP) emphasizes cash profitability and strategic objectives; Chesin’s specific award mechanics are not disclosed. 2024 EIP funding and targets:
| Metric | Weight | Target | Actual Achievement | Company Payout Basis |
|---|---|---|---|---|
| Plan Operating EBITDA | 70% | $263M | $277M (122% of target) | 122% |
| Strategic Objectives (Operational Excellence, Talent) | 30% | At Target | 100% | 100% |
| Total Company Achievement | — | — | — | 115.5% |
Long-term equity program (for NEOs) shifted to annual Free Cash Flow goals with rTSR modifier for 2024–2026 PSUs; prior cycles (2022–2024) paid 0% on rTSR and CFCF, evidencing high rigor and sector headwinds .
Equity Ownership & Alignment
| Item | As of | Amount/Detail |
|---|---|---|
| Beneficial ownership (Common Stock) | Aug 7, 2025 | 121,449 shares (Direct) |
| RSUs unvested/issuable | Aug 7, 2025 | 95,436 shares issuable upon vesting of previously granted RSUs |
| Hedging/Pledging | Policy | Hedging and pledging prohibited for all directors, executive officers, and employees |
| Executive Stock Ownership Guidelines | Policy | Executive Committee members must own HOUS stock equal to 3× annual base salary; CEO 6× salary; compliance required within 5 years; retention of net shares until compliant |
Additional alignment features:
- Double-trigger change-in-control standard (no single-trigger acceleration if awards are assumed/substituted) .
- No discounted options or repricing; no dividend payouts on unearned awards; minimum 12-month vesting for equity .
Employment Terms
Company-level plan and policies (applicable to executive awards) include:
- Clawback policy for erroneous incentive compensation (financial metric restatements) and discretionary recoupment for misconduct or restrictive covenant breaches; awards may be forfeited upon violations .
- Strict restrictive covenant agreements referenced and enforced for executives (non-compete/non-solicit); awards subject to forfeiture/recoupment on breach .
- Change-in-control treatment: if awards are assumed, full vesting upon involuntary termination without Cause or for Good Reason within 24 months (double-trigger); if not assumed, accelerated vesting and payout within 10 days of CIC (subject to 409A constraints) .
- Executive Committee stock ownership guidelines and retention requirements to ensure “skin-in-the-game” .
Note: Specific severance multiples disclosed for NEOs (CEO 2.0× salary+bonus; others 1.0×, or 2.0× upon CIC) but Chesin is not an NEO in the proxy, so his severance terms are not disclosed .
Investment Implications
- Alignment: Significant RSU holdings (95,436 issuable) and strict no-hedging/pledging/retention policies support ownership alignment; executive ownership guidelines require 3× salary, reinforcing long-term focus .
- Retention risk: Company acknowledges the downturn “dramatically reduced or eliminated the retentive value” of outstanding PSUs; underperformance on rTSR led to 0% payouts for 2022–2024 PSUs, potentially weakening equity-based retention unless offset by RSUs or refreshed PSUs under FCF/rTSR design .
- Performance linkage: Management incentives emphasize Operating EBITDA and strategic objectives; 2024 above-target EBITDA funding (122%) drove 115.5% EIP factor, signaling pay-for-performance discipline that could continue to guide executive payouts, though Chesin-specific EIP not disclosed .
- Governance signals: 2024 say-on-pay approval fell to 53.3% due to off-cycle CEO/CFO awards; Board responded with commitments to avoid off-cycle awards, strengthen disclosure, and retain rigorous targets—reducing compensation headline risk going forward .
Data gaps: Chesin’s base salary, target bonus, vesting schedules, severance/change-of-control specifics, and PSU/RSU grant values are not disclosed in the NEO tables; reliance is on company-wide policy and plan terms for alignment and risk analysis .