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    Sumit Roy

    President and Chief Executive Officer at Realty Income Corp
    Board
    Since October 2018
    Age
    54 years
    Education
    Holds an MBA in finance and economics from the University of Chicago, Booth School of Business, a master’s degree in computer science from the University of Georgia, and a bachelor's degree in computer science from Georgia College & State University.
    Tenure
    Joined Realty Income in September 2011, serving in multiple key roles including Senior Vice President, Acquisitions; Executive Vice President, Acquisitions; Chief Investment Officer; Executive Vice President, Chief Operating Officer; and then becoming President in November 2015 and Chief Executive Officer in October 2018.

    Also at Realty Income Corp

    GJW
    Gregory J. Whyte
    Executive Vice President, Chief Operating Officer
    JP
    Jonathan Pong
    Executive Vice President, Chief Financial Officer, and Treasurer
    MEH
    Mark E. Hagan
    Executive Vice President, Chief Investment Officer

    About

    Sumit Roy has built a distinguished career through a series of progressive leadership roles at Realty Income, where his strategic vision has driven significant growth and international expansion.

    Academically, he has laid a robust foundation for success with advanced degrees in both business and computer science, an educational blend that enhances his analytical approach to the financial and real estate sectors.

    Throughout his tenure, he has steered the company through multiple transformations, overseeing acquisitions and operational initiatives that have reinforced the company’s reputation as a reliable dividend payer.

    In addition to his executive responsibilities, he has contributed to the broader industry through board memberships and advisory roles, demonstrating a commitment to fostering sustainable strategies and overall organizational success.

    $O Performance Under Sumit Roy

    Past Roles

    OrganizationRoleDate RangeDetails
    Realty Income President November 2015 – October 2018
    Realty Income Executive Vice President, Chief Operating Officer October 2014 – October 2018
    Realty Income Chief Investment Officer October 2013 – November 2015
    Realty Income Executive Vice President, Acquisitions March 2013 – October 2013
    Realty Income Senior Vice President, Acquisitions September 2011 – February 2013
    UBS Investment Bank Executive Director, Global Real Estate, Lodging & Leisure N/A Focused on global real estate, lodging & leisure industries
    Merrill Lynch Not specified N/A Not specified
    Cap Gemini Ernst & Young LLP Not specified N/A Not specified

    External Roles

    OrganizationRoleDate RangeDetails
    Nareit’s Advisory Board of Governors Member; Second Vice Chair November 2020 – Present Second Vice Chair since November 2023
    Ventas, Inc. (NYSE: VTR) Board of Directors October 2022 – Present

    Fixed Compensation

    Data from  FY 2023
    Component NameAmountPayment ScheduleAdditional Details
    Base Salary $1,000,000 Annual 2023Fixed base salary for 2023
    Benefits (401(k) Matching, Group Term Life Insurance, Medical Benefits) $38,529 Annual 2023Total fixed benefits for 401(k), life & medical

    Performance Compensation

    Data from  FY 2023

    Short-Term Incentive Program (STIP)

    MetricWeightThresholdTargetMaximumActual PerformancePayout (% of Target)
    AFFO per Share 40% $3.94 $3.97 $4.02 $4.00 160%
    Fixed Charge Coverage Ratio 20% 4.0x 4.2x 4.4x 4.7x 200%
    Portfolio Occupancy 10% 98.20% 98.50% 98.80% 98.6% 133%
    • Individual Objectives (30% weight): Specific details not provided.
    • Target Annual Incentive: $2,498,000
    • Maximum Annual Incentive: $4,996,000
    • Actual Incentive Earned: $4,055,087 (representing 162% of target and 81% of maximum )
    • Payment Schedule: Cash paid in February 2024
    • Grant Date: February 13, 2023

    Long-Term Incentive Program (LTIP) Performance Shares

    MetricWeightThreshold PerformanceTarget PerformanceMaximum Performance
    Relative TSR vs MSCI US REIT Index 55% 35th percentile 55th percentile 80th percentile or greater
    Net Debt-to-Pro Forma Adjusted EBITDAre Ratio 25% 6.1x 5.75x 5.5x or less
    Dividend Per Share Growth Rate 20% 2% 4% 6% or greater
    • Grant Date: February 13, 2023
    • Grant Date Fair Value: $68.35 per share
    • Grant Date Stock Price: $67.15 per share for restricted stock awards
    • Performance Shares Granted:
      • Threshold: 41,233 shares
      • Target: 82,466 shares
      • Maximum: 164,932 shares
    • Performance Share Target Dollar Value: $5,326,500
    • Vesting Schedule:
      • 50% vests upon achievement certification following the performance period (January 1, 2023 to December 31, 2025)
      • The remaining 50% vests on January 1, 2027, subject to continued employment
    • Additional Conditions: Dividend Equivalent Rights are payable in cash post vesting, reflecting dividends that would have been earned from January 1, 2023, through the vesting date