Joseph Teichman
About Joseph Teichman
Joseph E. Teichman, age 52, serves as General Counsel and Secretary of Lightstone Value Plus REIT IV, Inc. (LTSV) and also holds parallel GC/Secretary roles at Lightstone I, II, and III, in addition to serving as Executive Vice President and General Counsel of the Sponsor and General Counsel of the Advisor; he joined The Lightstone Group in January 2007 after practicing at Paul, Weiss, Rifkind, Wharton & Garrison LLP (NY) from 2001 to 2007. He holds a J.D. from the University of Pennsylvania Law School and a B.A. from Beth Medrash Govoha; he is licensed in New York and New Jersey. LTSV discloses no executive compensation program for company officers and provides no CD&A or performance metric framework because executives are employed and paid by the external Advisor, limiting pay-for-performance transparency at the Company level . Earlier filings note he was a director of certain Extended Stay subsidiaries that later filed for Chapter 11, with no current affiliation .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| The Lightstone Group (Sponsor) | Executive Vice President & General Counsel | 2007–present | Senior legal leadership for Sponsor platform . |
| Advisor to LTSV | General Counsel | N/A | Legal oversight for external manager to LTSV . |
| Lightstone I, II, III (and respective advisors) | General Counsel & Secretary | N/A | Legal and corporate secretary functions across affiliated REITs . |
| Lightstone Enterprises | Secretary & Director | Oct 2014–present | Governance and oversight at affiliate entity . |
| Paul, Weiss, Rifkind, Wharton & Garrison LLP | Attorney | Sep 2001–Jan 2007 | Large-cap transactional/litigation legal experience . |
| Extended Stay subsidiaries | Director | Not specified | Entities later filed Chapter 11 (June 15, 2009); no longer affiliated . |
External Roles
| Organization | Role | Years |
|---|---|---|
| Yeshiva Orchos Chaim (Lakewood, NJ) | Board Member | Ongoing as of 2025 . |
| Ocean County College (NJ) | Board of Trustees (appointed) | Appointed Feb 2016 . |
Fixed Compensation
LTSV is externally managed and discloses that executive officers (including the General Counsel) are employees of the Advisor and receive no compensation from LTSV; accordingly, there is no company-level salary/bonus/equity program or CD&A.
| Component | 2024 | Notes |
|---|---|---|
| Base Salary (Company-paid) | Not paid by LTSV | Executives are compensated by the Advisor . |
| Target/Actual Bonus (Company-paid) | Not paid by LTSV | No executive comp policy/program at the Company; no CD&A . |
| Equity Awards (RSU/PSU/Options) | None at Company level | No Company program disclosed for executives . |
Performance Compensation
LTSV provides no executive incentive plan or performance metrics for company officers because executives are employed by the Advisor; there are no disclosed weightings, targets, or payouts at the Company level.
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not applicable (executives are Advisor employees; no Company plan) | — | — | — | — | — . |
Equity Ownership & Alignment
| As-of Date | Beneficial Ownership (Shares) | Percent of Shares Outstanding |
|---|---|---|
| September 15, 2025 | — | — . |
- The 2025 proxy’s stock ownership table lists no beneficial ownership for Joseph Teichman; no pledging or hedging disclosures specific to Mr. Teichman are provided in the proxy .
- Section 16(a) compliance: based on furnished forms and representations, LTSV states all officers and directors complied with filing requirements in 2024 .
Employment Terms
LTSV has no employees; operations are conducted by an external Advisor under an annually renewable advisory agreement. This structure concentrates compensation-setting and employment terms (including any severance/change-in-control economics) at the Advisor level rather than at LTSV, and the Company does not disclose executive employment contracts, severance, or CIC provisions for its officers.
| Term/Item | Disclosure |
|---|---|
| Employment relationship | LTSV has no employees; executives are employees of the Advisor . |
| Advisory agreement | One-year term; renewable for unlimited successive one-year periods upon mutual consent of Advisor and independent directors . |
| Advisor fees (Company-level; indicative of external pay pool) | Asset management fees: $971,866 (2024), $763,229 (2023); Development fees/cost reimbursement: $0 (2024), $573,223 (2023) . |
| Payables to Advisor | Amounts owed to Advisor/affiliates: $788,560 (12/31/2024) vs $463,876 (12/31/2023) . |
| Temporary fee relief | Advisor allowed temporary deferral of asset management fees in Q2 2024 . |
| Company executive contracts | No Company-level severance, CIC terms, or CD&A disclosed for executives (paid by Advisor) . |
Compensation Structure Analysis
- Company-paid executive compensation: none. All pay is at the Advisor, so there is no Company-level linkage to TSR, revenue, EBITDA, or other performance metrics for officers; LTSV does not provide CD&A or incentive plan details .
- Ownership alignment: the 2025 ownership table shows no beneficial ownership for Mr. Teichman; no pledging/hedging policy specific to executives is discussed in the proxy, which limits direct “skin-in-the-game” visibility at the Company level .
- External management incentives: the Advisor’s fee streams (e.g., asset management fees) are paid by LTSV and may be a more relevant lever than Company-set bonuses/equity for executive incentives; fees totaled $971,866 (2024) and $1,336,452 including development fees (2023), with payables to affiliates increasing into 2024 .
- Governance context: the Board (no standing compensation committee) oversees director/officer matters; but given externalization, it does not set executive pay and thus provides no CD&A; independent directors are paid a $40,000 annual fee and audit chair an additional $10,000 .
Risk Indicators & Notable History
- External management and affiliate relationships: LTSV is dependent on an Advisor and affiliates controlled by the Sponsor’s principal; the advisory agreement is annual and renewable, and related-party fees are material, which concentrates influence with affiliates .
- Prior bankruptcy association: Mr. Teichman previously served as a director of certain Extended Stay subsidiaries that filed Chapter 11 in 2009; he is no longer affiliated .
Investment Implications
- Pay-for-performance visibility is low at the Company level: LTSV does not pay or disclose executive compensation programs for officers employed by the Advisor, limiting insight into incentive metrics, vesting schedules, or severance/CIC economics for Mr. Teichman at LTSV .
- Alignment flags: the proxy lists no beneficial ownership for Mr. Teichman and no pledging/hedging or ownership-guideline disclosures specific to him, reducing direct equity-alignment signals; investors must instead assess incentive alignment through the Advisor’s fee structure and governance .
- Retention/trading signals: absence of Company equity awards and lack of Form 4 activity detail in the proxy mean limited indicators of near-term selling pressure or equity-linked retention at LTSV; monitoring any Advisor-level awards or future insider filings is prudent .
- Governance/related-party risk remains central: dependence on a renewable advisory agreement and rising related-party payables underscore external-management risk; Board oversight exists, but incentives primarily reside with the Advisor rather than Company-set executive plans .