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    Albert Behler

    Chairman, Chief Executive Officer, and President at Paramount Group Inc
    Board
    Since 2014
    Age
    72 years
    Education
    Graduated from the University of Cologne and earned a Master’s degree in Business Administration from Georgia State University.
    Tenure
    Joined Paramount Group, Inc. in October 1991 as President and Chief Executive Officer and was appointed Chairman in 2014.

    Also at Paramount Group Inc

    GJ
    Gage Johnson
    Senior Vice President, General Counsel, and Secretary
    EB
    Ermelinda Berberi
    Senior Vice President and Chief Accounting Officer
    PB
    Peter Brindley
    Executive Vice President, Head of Real Estate

    About

    Albert Behler is a seasoned executive with a broad background in commercial real estate. At 72 years old, he has developed extensive experience over several decades in the industry.

    Beginning his professional journey at Thyssen in 1973, he held key leadership roles including Managing Director of Thyssen Saudia Company, Ltd and served as President of Thyssen Rheinstahl in Atlanta from 1985 to 1991, overseeing significant real estate acquisitions and transactions.

    He joined Paramount Group, Inc. in October 1991 as President and Chief Executive Officer, spearheading strategic acquisitions and asset management decisions. His leadership was further recognized when he was appointed as Chairman, Chief Executive Officer, and President in 2014, marking a key milestone in his tenure at PGRE.

    $PGRE Performance Under Albert Behler

    Past Roles

    OrganizationRoleDate RangeDetails
    PGRE President and Chief Executive Officer October 1991 - 2014 Oversaw acquisitions and dispositions that produced the current portfolio.
    Thyssen Saudia Company, Ltd Managing Director N/A N/A
    Thyssen Rheinstahl (Atlanta, Georgia) President 1985 - 1991 N/A

    External Roles

    OrganizationRoleDate RangeDetails
    The Real Estate Roundtable Member N/A Washington, D.C.
    Real Estate Board of New York Member of the Board of Governors N/A N/A
    Urban Land Institute Member N/A N/A
    American Council on Germany’s Business Advisory Committee Member N/A N/A
    Citymeals-on-Wheels Member of the Board of Directors N/A N/A

    Fixed Compensation

    Data from  FY 2023
    Component NameAmountPayment ScheduleAdditional Details
    Salary$1,100,000 AnnualBase Salary
    Stock Awards$9,087,500 At grantBreakdown: Performance-Based LTIP Units: $7,500,000 ; Time-Based LTIP Units: $937,500 ; AOLTIP Units: $1,562,500
    Option Awards$8,162,500 At grantBreakdown: Performance-Based AOLTIP Units: $6,600,000 ; Other Option Awards: $1,562,500
    All Other Compensation$214,412 AnnualBreakdown: Life Insurance/Executive LTD: $119,899 ; 401(k) Company Match: $30,000 ; Car Allowance/Insurance: $44,513 ; Club Membership: $20,000

    Performance Compensation

    Data from  FY 2023

    Short-Term Incentive Compensation (STIC)

    MetricThresholdTargetMaximumActual PayoutWeightEvaluation/Approval
    Corporate Objectives$577,500 $1,155,000 $1,732,500 $929,105 70%Approved February 2023
    Individual Objectives$247,500 $495,000 $742,500 $742,395 30%Based on qualitative performance
    Total STI Compensation$825,000 $1,650,000 $2,475,000 $1,671,500 100%-

    Bonus Exchange Program

    • Exchanged 50% of STI compensation, equaling $835,750.
    • Converted into 685,041 fully vested T-AOLTIP units.
    • Grant Date: January 25, 2023.
    • Grant Date Stock Price: $4.43 per unit.
    • Grant Date Fair Value: $835,750.

    Performance-Based LTIP (P-LTIP) Awards

    MetricValue/ThresholdDetails/Additional Information
    Primary MetricNet Operating Income (NOI)Evaluation Period: January 1, 2023 to December 31, 2025
    Threshold NOI$1,090,600 50% of target units earned
    Target NOI$1,148,000 100% of target units earned
    Maximum NOI$1,205,400 or greater 200% of target units earned
    TSR Modifier-2,000 bp to +2,000 bpTSR relative to NYC office REIT peers; Negative TSR reduces payout by 30%
    Grant DateJanuary 25, 2023 -
    Grant Date Fair Value$3,750,000 -
    Grant Date Stock Price$6.17 per share -
    Vesting Schedule50% on December 31, 2025; 50% on December 31, 2026Additional 1-year holding requirement for NEOs

    Performance-Based AOLTIP (P-AOLTIP) Awards

    ParameterDetails/Values
    Performance Hurdles< $6.40: 0%; $6.40: 33%; $7.68: 67%; ≥ $8.96: 100%
    Grant DateSeptember 8, 2023
    Grant Date Stock Price$5.12
    Grant Date Fair Value$6,600,000
    Vesting Schedule20% on October 1, 2026; 80% on October 1, 2027
    Post-Vesting RestrictionsMust hold units for 1 year post vesting

    This comprehensive breakdown details the performance compensation components, including required performance metrics, thresholds, targets, maximums, weights, vesting schedules, evaluation periods, actual performance results, and the conversion details for bonus exchanges. All values are specific to 2023.