Tamara Fischer
About Tamara Fischer
Tamara D. Fischer, age 69 as of May 20, 2025, is an independent director of MAA since 2023 and has been designated a financial expert. She serves on the Audit Committee and the Real Estate Investment Committee, bringing REIT CFO/CEO experience and capital markets expertise; she is judged independent under NYSE/SEC standards, with strong attendance alongside a 97.4% average board/committee attendance in 2024 and all directors attending over 75% of meetings .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| National Storage Affiliates Trust | Executive Chairperson; President & CEO (prior); President & CFO; EVP & CFO | Exec Chair since 2023; CEO 2020–2023; CFO/President 2018–2019; EVP & CFO 2013–2018 | Led strategy, risk oversight, M&A; REIT structure expertise |
| Vintage Wine Trust, Inc. | EVP & CFO; Consultant | EVP & CFO 2004–2008; Consultant 2009–2010 | Finance leadership; public REIT experience |
| Chateau Communities, Inc. | EVP & CFO | 1993–2003 | Real estate finance and operations |
| Coopers & Lybrand (PwC) | Various positions | 1984–1992 | Audit, accounting foundation |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| National Storage Affiliates Trust | Executive Chairperson | 2020–Present | Current public company directorship |
| JLL Income Property Trust, Inc. | Director | 2023–Present | Current public board |
| Duke Realty Corporation | Director | 2020–2022 | Former public board |
Board Governance
- Committees: Audit Committee (financial expert) and Real Estate Investment Committee; not on Compensation or Nominating & Corporate Governance .
- Attendance and engagement: 2024 meetings held—Board (4), Non-Management (4), Independent (4), Audit (7), Compensation (6), NCG (5), Real Estate Investment (7); each director >75% attendance, with 97.4% average .
- Independence: Board determined she meets independence criteria; Audit, Compensation, and NCG committees are 100% independent .
- Lead Independent Director: Alan B. Graf, Jr.; independent executive sessions are held regularly .
- Related-party/conflicts: No related-party transactions proposed since 2024; no waivers requested/granted; no indebtedness; Compensation Committee interlocks—none implicating MAA executives or committee cross-service in 2024 .
- Shareholder signaling: 2025 say-on-pay passed (For: 93,073,433; Against: 9,774,643; Abstain: 225,627); all 11 directors elected, including Fischer (For: 98,315,740; Against: 4,498,824; Abstain: 259,139; Broker non-votes: 5,768,896) .
Fixed Compensation
| Item | 2024 Amount | Notes |
|---|---|---|
| Fees Earned or Paid in Cash | $99,000 | Board and committee cash fees per role; program benchmarks set with Pearl Meyer for 2024–2025 |
| Stock Awards (Grant-Date Fair Value) | $169,943 | 1,245 restricted shares granted at $136.50 (May 21, 2024); vests at end of term |
| All Other Compensation (Dividends on unvested RS/RSUs) | $6,877 | Dividends on unvested director equity |
| Total | $275,819 | Sum of cash, stock awards, and other comp |
Program structure and guardrails:
- Annual cash fees: Board service $80,000; Audit member $12,000; REI member $8,500; other chair/member fees per committee; Lead Independent adds $35,000 .
- Annual equity grant: Approx. $170,000; 1,245 restricted shares for full-year service; partial-year grants pro-rated .
- Caps: 2023 Omnibus caps director compensation at $300,000 cash and $500,000 equity per calendar year; independent external consultant engaged; no employee directors compensated .
- Deferred compensation: Directors may elect to receive RSUs in lieu of cash/equity grants under a Director Deferred Compensation Plan .
Performance Compensation
Directors do not receive performance-based equity or cash; annual restricted stock grants vest on service completion rather than performance.
| Component | Metric | Grant/Issue | Shares/Value | Vesting | Notes |
|---|---|---|---|---|---|
| Annual Director Grant | Service-based | May 21, 2024 | 1,245 shares; $169,943 | Vests at end of 2024–2025 service term | Dividends paid on unvested shares |
Other Directorships & Interlocks
| Company | Overlapping Relationships | Potential Conflict Note |
|---|---|---|
| National Storage Affiliates Trust (Executive Chairperson) | None disclosed with MAA suppliers/customers | No related-party transactions at MAA since 2024 |
| JLL Income Property Trust, Inc. (Director) | None disclosed | No conflicts identified |
| Duke Realty Corporation (Former Director) | None currently | Historical service only |
Expertise & Qualifications
- Financial expert with CFO/CEO REIT experience; capital markets and corporate governance expertise; risk management and M&A background .
- Audit oversight: serves on Audit Committee; Audit Committee has three financial experts; scope includes financial reporting integrity, cybersecurity oversight, related-party preclearance, and auditor independence .
Equity Ownership
| Ownership Element | Amount | Percent | Notes |
|---|---|---|---|
| Total beneficial ownership | 2,436 shares | <1% | Held via deferred compensation account |
| Pledged shares | None permitted; no exceptions post-Annual Meeting | — | Hedging/pledging prohibited; one historical pledge grandfathered but director not nominated in 2025 |
| Initial Form 3 | No securities owned at appointment (May 16, 2023) | — | Initial beneficial ownership filing |
| Stock ownership guidelines | 5x annual cash retainer for non-employee directors within 5 years; 100% compliance noted | — | Alignment policy and compliance |
Governance Assessment
- Strengths: Independent financial expert on Audit Committee; robust attendance; no related-party transactions or waivers; alignment via ownership guidelines; prohibition on hedging/pledging; use of independent compensation consultant and capped director pay; strong shareholder support for governance items (director elections and say-on-pay) .
- Potential risks/RED FLAGS: None identified specific to Fischer; director equity is service-based (not performance-based), which is standard for U.S. boards; ongoing monitoring warranted for external roles to avoid future related-party exposures, but MAA reports none since 2024 .
- Oversight impact: Her REIT CFO/CEO pedigree and audit committee financial expertise support board effectiveness in financial reporting, risk oversight (including cybersecurity), and capital markets strategy .