Murray J. McCabe
About Murray J. McCabe
Independent director of Sunstone Hotel Investors (SHO) since April 28, 2016; age 57. Founder and Managing Partner at Montgomery Street Partners, and former Managing Director and Global Head of Real Estate & Lodging Investment Banking at JPMorgan (1992–Aug 2012). Holds a B.A. in Finance from the University of Texas at Austin. Board skills matrix cites strengths across accounting/financial expertise, capital markets, REITs/real estate investing, governance, and risk management.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| JPMorgan Chase & Co. | Managing Director; Global Head, Real Estate & Lodging Investment Banking | 1992 – Aug 2012 | Member, M&A Fairness Opinion Committee (2001–2002); Investment Banking Coverage Management Committee (2010–2012); Board of JPMorgan Real Estate Advisors |
| Columbia Property Trust (NYSE: CXP) | Director (prior to sale) | Until 2021 | Served until company’s sale in 2021 |
External Roles
| Organization | Role | Status | Notes |
|---|---|---|---|
| Montgomery Street Partners, L.P. | Founder & Managing Partner | Current | Investment firm leadership |
| RREEF America REIT II Inc. | Director | Current | Diversified real estate investment company (~$15B assets) |
| Univ. of Texas, McCombs School | Executive Council member, Real Estate Finance & Investment Center; Advisory Board, REIT Investment Funds | Current | Academic/industry advisory roles |
| Other public company boards | — | None currently | “Other Public Company Boards” column is blank for McCabe |
Board Governance
- Independence: Board determined all directors other than the CEO are independent (applies to McCabe).
- Committee assignments (2025): Member, Nominating & Corporate Governance (NCG) Committee; not on Audit or Compensation.
- Committee leadership: Not a chair; NCG chaired by W. Blake Baird.
- Attendance: In 2024, Board met six times; all directors attended 100% of Board and their committee meetings.
- Executive sessions: Independent directors held executive sessions at least quarterly in 2024; executive sessions at each regularly scheduled Board meeting.
- Chair/lead: Board Chair (Pasquale) is independent; CEO/Chair roles separated.
Fixed Compensation (Director)
| Year | Cash Fees (Earned) | Equity Awards (Grant-date fair value) | Meeting Fees Policy | Committee Fees | Notes |
|---|---|---|---|---|---|
| 2024 (actual – McCabe) | $77,500 | $100,942 | $1,500 per Board/Committee meeting above 8 per 12 months | Member: $10,000; Chair: $20,000 (per committee) | Equity awards to directors vest upon grant; 2024 annual equity retainer structured at $105,000 |
| 2025 (program) | Annual cash retainer increased to $70,000 (Board-wide) | Annual equity retainer increased to $115,000 (Board-wide) | Same as 2024 | Same as 2024 | Directors also eligible for up to $5,000 hotel room/tax credit and $5,000 charitable match |
- Total 2024 compensation (McCabe): $178,442 (cash $77,500 + equity $100,942).
- Director compensation limit: Total cash + equity per non-employee director capped at $750,000 per calendar year under the 2022 Plan.
Performance Compensation
- Non-employee director compensation is not performance-based; equity is granted as fully vested stock and vests upon grant; no performance metrics apply.
Other Directorships & Interlocks
| Company/Entity | Type | Role | Committee Roles | Interlock/Conflict Notes |
|---|---|---|---|---|
| RREEF America REIT II Inc. | Private/diversified REIT | Director | Not disclosed | No SHO related-party transaction disclosed – |
| Columbia Property Trust (NYSE: CXP) | Public (until 2021 sale) | Former Director | Not disclosed | Service ended at sale in 2021 |
| Other public boards | Public | None currently | — | “Other Public Company Boards” blank for McCabe |
- Related-party transactions: Company reports no related-party transactions since the beginning of fiscal 2024; NCG must approve any such transactions >$120,000 involving directors/officers or their 5%+ interests. –
Expertise & Qualifications
- Capital markets and REIT/real estate investing expertise; extensive M&A and fairness committee experience (JPMorgan).
- Accounting/financial expert, corporate governance/IR, capital markets, risk management per Board skills matrix.
- Industry depth in hotels/real estate and executive leadership experience.
- Education: B.A. in Finance, University of Texas at Austin.
Equity Ownership
| Holder | Shares Beneficially Owned | % of Outstanding | Notes |
|---|---|---|---|
| Murray J. McCabe | 95,897 | <1.0% | Based on 201,198,892 shares outstanding as of Mar 5, 2025 |
| Director Ownership Guideline | 5x annual cash retainer | Compliance | As of Jan 1, 2025, each applicable independent director met/exceeded the guideline |
| Director Grants since 2022 Plan inception (thru Mar 5, 2025) | 29,745 restricted shares (cumulative, McCabe) | — | Non-employee director awards under 2022 Plan; director awards are subject to the Company’s Clawback Policy. |
| Hedging/Pledging | Prohibited for insiders (includes directors) | — | No pledging allowed; blackout and preclearance apply per Insider Trading Policy. |
Governance Assessment
- Strengths: Independent status; 100% attendance; robust anti-hedging/pledging and insider trading controls; director ownership guideline (5x retainer) with compliance; no related-party transactions since FY2024; separation of Chair/CEO; active executive sessions; clear director pay structure; independent consultant and formal charters overseeing compensation and governance. –
- Compensation signals: Mix is aligned with peers (cash retainer + fully vested equity), with modest increases (cash retainer to $70k for 2024; equity retainer to $115k for 2025) indicating market alignment rather than entrenchment; formal annual cap of $750k under plan.
- Committee effectiveness: McCabe serves on NCG (oversees board refreshment, governance policies, ESG oversight, and conflict approvals); Audit/Comp committees comprised solely of independent directors with financial experts and four meetings each in 2024.
- Shareholder alignment backdrop: Recent Say-on-Pay approval at 96.9% (2024) underscores broad investor support for the Company’s governance and compensation frameworks.
RED FLAGS: None disclosed specific to McCabe. No related-party dealings; no pledging/hedging; full attendance; no other public board interlocks that present conflicts. Continue to monitor any future related-party disclosures and insider filings. –