Gregory T. McLaughlin
About Gregory T. McLaughlin
Gregory T. McLaughlin is an independent director of Realty Income (O), serving since 2007, age 65 as of March 26, 2025, and recognized by the Board as an audit committee financial expert. He holds a JD from Chicago-Kent College of Law and a BS in Economics from The Ohio State University; his background spans CEO and senior leadership roles in golf-related organizations, with expertise in finance, legal matters, capital raising, and tax-exempt financing .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| PGA TOUR | President, PGA TOUR Champions; Executive Vice President, PGA TOUR | 2014–2018 | Senior leadership, finance/legal perspective |
| TGR Live & Tiger Woods Foundation | President & CEO | 1999–2014 | Capital raising, strategic development |
| Western Golf Association / Evans Scholars Foundation | Vice President, Business Development | 1993–1999 | Team building; tax-exempt financing |
| Los Angeles Junior Chamber of Commerce | Vice President, Business Development | 1988–1993 | Business development leadership |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| PGA TOUR | Executive Committee member | Current (since 2018 context) | Governance and strategy |
| First Tee Foundation (PGA TOUR subsidiary) | Chief Executive Officer | Since 2018 | CEO leadership; ambassador for golf |
| World Golf Hall of Fame | Role under CEO leadership purview | Since 2018 | Global prominence, spokesperson |
| American Golf Industry Coalition | Role under CEO leadership purview | Since 2018 | Industry engagement |
| Dyehard Fan Supply | Director | Current | Board-level oversight |
| Nielsen Sports | Director (former) | 2012–2014 | Board experience |
Board Governance
- Committee assignments: Audit Committee member; Compensation and Talent Committee member; not on Nominating/Corporate Governance Committee .
- Chair roles: None; Audit Committee chaired by Priscilla Almodovar; Compensation and Talent chaired by Priya Cherian Huskins .
- Independence: Board determined McLaughlin is independent under NYSE and company standards .
- Financial expertise: Board determined McLaughlin qualifies as an audit committee financial expert (Item 407(d) of Regulation S-K); Audit Committee members are financially literate and independent .
- Attendance: Board met 8 times in 2024; all directors attended at least 75% of Board and committee meetings; all directors attended the virtual 2024 annual meeting .
- Committee activity levels: Audit Committee held 7 meetings in 2024 (8 in 2023); Compensation and Talent Committee held 6 meetings in 2024 (6 in 2023) .
- Oversight scope: Audit: financial statements integrity, ERM, cybersecurity/IT, related-party reviews; Compensation and Talent: executive pay philosophy, CEO goals/comp, severance, STIP/LTIP metrics, board compensation; Nominating: board composition, refreshment, governance/ESG oversight .
Fixed Compensation
| Component (2024) | Amount | Note |
|---|---|---|
| Fees Earned or Paid in Cash | $67,500 | Committee membership retainers included |
| Stock Awards (Grant-Date Fair Value) | $207,000 | 4,000 restricted shares granted 5/30/2024 at $51.75/share |
| All Other Compensation | $10,000 | Crest Net Lease, Inc. subsidiary board retainer |
| Total | $284,500 | Sum of above |
| Director Fee Schedule (2024) | Cash ($) | Equity |
|---|---|---|
| Board Member (including Non-Exec Chair) | 35,000 | Annual grant of 4,000 restricted shares/RSUs (variable value) |
| Non-Executive Chair (additional cash) | 125,000 | — |
| Audit Chair | 35,000 | — |
| Compensation & Talent Chair | 25,000 | — |
| Nominating/Governance Chair | 25,000 | — |
| Audit Member | 17,500 | — |
| Compensation & Talent Member | 15,000 | — |
| Nominating/Governance Member | 15,000 | — |
| Director Compensation Changes (Effective as of 2025 Annual Meeting) | New Cash ($) | Equity (Plan Amendment) |
|---|---|---|
| Board Member cash retainer | 100,000 | Annual grant set at $200,000 value (shares = $200,000 / closing price); if amendment not approved, 4,000 shares/RSUs |
| Non-Executive Chair cash retainer | 150,000 | — |
- Ownership guideline: Non-employee directors must hold stock valued at no less than 5x the annual cash retainer .
Performance Compensation
| Director Equity Vesting Schedule (Non-Employee Directors) | Vesting Terms |
|---|---|
| < 6 years of service | 33.33% annually over 3 years |
| 6 years of service | 50% annually over 2 years |
| 7 years of service | 100% after 1 year |
| ≥ 8 years of service | Immediate vesting on grant |
- Equity grant design: 2024 annual grant of 4,000 restricted shares; beginning 2025, annual grant denominated at $200,000 (subject to stockholder approval), with same service-based vesting schedule .
- No performance-conditioned director equity or bonus metrics disclosed; director pay predominantly equity (≈75% in 2024), aligning incentives without operational performance hurdles .
Other Directorships & Interlocks
| Entity | Type | Role | Tenure/Notes |
|---|---|---|---|
| Crest Net Lease, Inc. | Wholly-owned subsidiary | Director | $10,000 retainer in 2024 |
| Dyehard Fan Supply | Private | Director | Current |
| Nielsen Sports | Private/division | Director (former) | 2012–2014 |
- No related-party transactions in 2024; Audit Committee reviews any such transactions per policy .
- Board independence: All current directors except CEO Sumit Roy are independent under NYSE/company standards .
Expertise & Qualifications
- Recognized audit committee financial expert; financially literate under NYSE standards .
- Legal and finance credentials: JD and economics BS; expertise in audit/tax, capital raising, tax-exempt financing, strategic development, project/land development .
- Senior leadership, board governance, and risk oversight experience relevant to REIT operations .
Equity Ownership
| Metric | Value |
|---|---|
| Beneficial ownership (as of Mar 3, 2025) | 34,636 shares; less than 0.1% of outstanding |
| 2024 beneficial ownership detail | 31,886 shares via The McLaughlin Family Trust with shared voting/investment power |
| Unvested restricted stock (as of Dec 31, 2024) | None held; other non-employee directors listed with unvested shares, McLaughlin not among them |
| Equity awards under Plan (as of Mar 3, 2025) | 16,000 restricted shares/RSUs (includes vested and unvested awards outstanding under Plan) |
| Anti-hedging/anti-pledging | Company policy prohibits hedging and pledging/margin of company securities |
Indicative alignment check (informational): 34,636 shares × $57.55 (Mar 3, 2025 per-share market value) ≈ $1.99 million; guideline requires holdings ≥5× annual cash retainer. Company does not disclose individual guideline compliance; calculation suggests substantial alignment with guideline magnitude .
Governance Assessment
- Committee effectiveness: Dual membership on Audit and Compensation & Talent positions McLaughlin at core oversight nodes (financial reporting integrity, ERM, executive pay philosophy and clawback administration) .
- Independence and expertise: Independent director; audit committee financial expert designation strengthens investor confidence in financial oversight .
- Engagement and attendance: Board met 8 times in 2024; all directors at least 75% attendance and attended annual meeting; committee cadence (Audit 7, Comp 6) indicates active oversight .
- Compensation mix and alignment: ~75% of director pay in restricted stock in 2024; service-based vesting (immediate for ≥8 years) and tightened 2025 program (cash retainer increase; $200k grant) aligns with market practice while maintaining equity-heavy mix .
- Conflicts/related-party: No related-party transactions in 2024; strict anti-hedging/anti-pledging policy; Section 16(a) filings fully compliant in 2024—no delinquency .
- RED FLAGS: None disclosed regarding attendance shortfalls, related-party transactions, option repricing, or pledging; no public-company interlocks suggesting competitive conflicts .