Ann Danner
About Ann M. Danner
Ann M. Danner, 68, is an Independent Trustee of Seven Hills Realty Trust (SEVN), appointed December 11, 2024. She serves on the Audit, Compensation, and Nominating & Governance Committees; she is a Class I trustee with a term expiring at the 2026 annual meeting, and has been affirmatively determined by the Board to be independent under Nasdaq, SEC, and SEVN governing documents. With her appointment, the Board reported 71% independent composition. Ms. Danner brings 40+ years of real estate development, investment, and operations experience, especially in residential and multifamily sectors.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| RHA Advisors LLC | Founder & Managing Member | Since 2018 | Construction development and management consultancy (real estate operations expertise) |
| Residential Homes of America, Inc. | Co‑Founder & CEO | 1986–2016 | Vertically integrated apartment and homebuilding development (leadership, multifamily depth) |
| American United, Inc. | VP & Director of Acquisitions & Sales | 1980–1986 | Development and management of a 9,000‑unit apartment portfolio (acquisitions/asset management) |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Sordoni Construction Services Inc. | Independent Advisory Director | Since 2022 | Construction for healthcare, education, industrial and other commercial facilities |
| First Women’s Bank | Founding Member & Advisory Board | Since 2021 | Banking advisory exposure |
| ALSAC/St. Jude Children’s Research Hospital | Director (now Director Emeritus) | Director 2009–2023 | Nonprofit governance experience |
Board Governance
- Committees: Audit; Compensation; Nominating & Governance. She is not a committee chair. Audit Committee met 8 times in 2024; Compensation 4; Nominating & Governance 3; all are fully independent committees. Mr. Morea is designated Audit Committee financial expert.
- Independence: Board determined that Danner qualifies as independent under Nasdaq/SEC and SEVN’s governing documents. Independent Trustees meet in executive session at least twice a year, led by the Lead Independent Trustee.
- Attendance: In 2024, the Board held 5 meetings; each then‑Trustee attended ≥75% of Board and applicable committee meetings. (Danner joined on Dec 11, 2024.)
- Term/tenure: Class I trustee; term expires at the 2026 annual meeting; Trustee since 2024.
Fixed Compensation
| Year | Cash Retainer (Annual policy) | Committee Chair Fees (Annual policy) | Lead Independent Fee (Annual policy) | Danner Actual Cash Paid |
|---|---|---|---|---|
| 2024 | $70,000 per Independent Trustee [policy] | Audit $17,500; Comp $12,500; N&G $12,500 [policy] | $15,000 [policy] | $32,411 (prorated for partial year from Dec 11, 2024) |
| Sources | Policy/attendance: ; Danner actual: |
Notes:
- No meeting fees; trustees reimbursed for travel/education expenses.
Performance Compensation
| Item | Detail |
|---|---|
| Equity program (2024) | Each Trustee other than Danner received an annual award valued at $60,000, granted as 4,735 common shares at the May 30, 2024 closing price; awards vested in full on grant date. |
| Danner equity | Did not receive a 2024 grant; received a share award in March 2025 in connection with her December 2024 election (number/value not disclosed in the 2025 proxy). |
There are no disclosed performance metrics (e.g., TSR, EBITDA) tied to director equity; awards are share grants under the equity plan governed by the Compensation Committee.
Other Directorships & Interlocks
| Category | Status/Detail |
|---|---|
| Other RMR public client boards | None for Danner. |
| Other non‑RMR public company boards | None for Danner. |
| Compensation Committee interlocks (context) | No management interlocks in 2024; two Compensation Committee members serve on boards of other RMR‑managed public companies (Gilmore: OPI; Lamkin: OPI and Service Properties Trust). Danner is a member of the committee but not cited with external RMR‑client board service. |
Expertise & Qualifications
- Real estate development and multifamily/residential specialization with 40+ years’ operating and investment experience; identified skills include risk oversight/management, human capital management, financial expertise, investment expertise, REIT/real estate, and ESG.
- Board affirmed independent status under Nasdaq/SEC and company criteria.
Equity Ownership
| Holder | Shares Beneficially Owned (as of Mar 12, 2025) | % Outstanding | Notes |
|---|---|---|---|
| Ann M. Danner | — | <1% | Beneficial ownership table shows “—”; total shares outstanding were ~14,902,773. |
| Trustee ownership guideline | Hold at least 30,000 shares within five years of initial election (future Trustees) | — | As of Mar 12, 2025, all Trustees have met or are expected to meet guidelines within applicable periods. |
Governance Assessment
Positive signals
- Independent trustee with deep real estate and development track record; immediately assigned to all three key committees, indicating confidence in her expertise and capacity.
- Board independence and refreshment: appointment increased independent composition to 71%; Korn Ferry retained for candidate vetting, suggesting process rigor.
- Formal ownership guidelines for trustees (30,000 shares within five years) support alignment; Board disclosure that Trustees are on track to meet expectations.
Risks/considerations
- External management model: SEVN has extensive related‑party relationships with Tremont (manager) and RMR, including base and incentive fees and shared services reimbursements; while these are reviewed/approved by Independent Trustees, they present structural conflict risk that requires strong committee oversight.
- Compensation Committee ecosystem: other members serve on boards of RMR‑managed companies (not Danner), a potential interlock perception risk, though no formal interlocks with SEVN management were reported.
- Ownership alignment timing: Danner showed no beneficially owned shares as of Mar 12, 2025, with a share award subsequently granted in March 2025; progress toward the 30,000‑share guideline should be monitored.
- Attendance visibility: Board disclosed ≥75% attendance by all “then Trustees” in 2024, but Danner’s late‑year appointment limits attendance evidence until 2025 cycle.
RED FLAGS to monitor
- Depth and terms of related‑party transactions (fees, shared services, equity awards to Tremont/RMR employees) given the RMR complex; continued robust independent review is critical.
- Any shortfalls vs. 30,000‑share ownership guideline within the five‑year period for new trustees.