Peggy Lamb
About Peggy Lamb
Peggy Lamb, age 60, joined SL Green’s Board in March 2025 as an independent director and is a member of the Compensation Committee. She brings over three decades of real estate and finance experience spanning Goldman Sachs and Halstatt and holds a B.S. from the University of Illinois and an M.B.A. from Harvard Business School .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Halstatt LLC | Managing Director | Since 2017 | Leads alternative investments; real estate focus |
| Halstatt Real Estate Partners | Principal (PE real estate funds) | Since 2021 | Originating, underwriting, structuring, managing transactions |
| Goldman Sachs | Multiple roles incl. COO, Investment Banking Real Estate; Chief of Staff, Financing Group | 1990–2005 | Senior management roles in real estate banking and financing |
| JMB Realty | Acquisitions | 1986–1988 | Early real estate acquisitions experience |
External Roles
| Organization | Role | Tenure | Committees/Notes |
|---|---|---|---|
| Starwood Real Estate Income Trust, Inc. (non‑exchange traded) | Director | Since Jan 2021 | Audit and Compensation Committees |
| Starwood Credit Real Estate Income Trust | Director | Since Nov 2023 | Audit Committee |
| Univ. of Florida Bergstrom Real Estate Center | Real Estate Advisory Board | N/A | External advisory role |
| Florida Gulf Coast Univ. Lucas Institute | Board of Directors | N/A | External advisory role |
Board Governance
- Independence: The Board determined Lamb is independent under NYSE standards and SLG’s director independence standards .
- Appointment and core role: Appointed March 19, 2025; member of the Compensation Committee .
- Committee assignments and leadership:
- Current: Compensation Committee member (Comp Committee had 3 meetings in 2024; Lamb appointed in March 2025) .
- Anticipated (if full slate elected): Chair of the Nominating & Corporate Governance Committee (NCGC) .
- Attendance and engagement: In 2024 the Board held five meetings; all directors met or exceeded 75% attendance for Board and committee meetings during their service periods. Committees met: Audit (13), Compensation (3), NCGC (1), Executive (0) in 2024 .
| Committee | 2024 Meetings | Current Members (2024) | Notes |
|---|---|---|---|
| Audit | 13 | Dillard (Chair), Brown, Hatkoff | All independent; Dillard is audit committee financial expert |
| Compensation | 3 | Dillard (Interim Chair), Alschuler, Brown, Lamb | Lamb joined March 2025; independent advisors used |
| NCGC | 1 | Hatkoff (Chair), Alschuler, Brown | All independent; oversees ESG and board refresh |
| Executive | 0 | Holliday (Chair), Alschuler, Green, Mathias | No actions by written consent in 2024 |
- Executive sessions: Independent directors meet in executive session, led by the Lead Independent Director .
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Annual cash retainer (non‑employee directors) | $50,000 | Payable quarterly; directors may elect stock instead of cash |
| Lead Independent Director additional retainer | $70,000 | If serving in role |
| Audit Committee Chair retainer | $25,000 | If serving as chair |
| Compensation Committee Chair retainer | $20,000 | If serving as chair |
| Corporate Governance Committee (NCGC) Chair retainer | $5,000 | If serving as chair |
| Meeting fee (Board/Committee) | $1,500 per meeting | For each meeting attended |
| Special Audit Committee meeting (standalone) | $4,000 per meeting | When held independently of Board meetings |
| Annual stock grant (fully vested at grant) | $235,000 | Directors can defer; grant vests on grant date |
| Director compensation trend | Unchanged since 2019 | Annual stock grant reduced by $65k in 2019; LID cash retainer reduced $15k in 2019 |
- Deferral program: Directors may defer up to 100% of fees and annual stock grant into phantom stock units or cash equivalents (SOFR+2.10% or mutual fund tracking); dividend equivalents payable currently unless reinvested; settlement typically upon separation or change in control .
Performance Compensation
| Feature | Structure | Metrics |
|---|---|---|
| Director equity grant | Annual grant valued at $235,000; fully vested on grant date; may be taken as phantom stock units via deferral program | No performance metrics tied to director pay disclosed; equity vests immediately |
- Note: As a non‑employee director, Lamb’s compensation is not performance‑metric based; she participates in the standard director program described above .
Other Directorships & Interlocks
| Company | Industry | Committee Roles | Potential Interlock Note |
|---|---|---|---|
| Starwood Real Estate Income Trust, Inc. | Non‑traded REIT | Audit; Compensation | Board role at another REIT; no SLG related‑party transactions disclosed |
| Starwood Credit Real Estate Income Trust | Non‑traded REIT (credit) | Audit | Board role at another REIT‑credit vehicle; no SLG related‑party transactions disclosed |
- Related‑party/Interlocks: SLG disclosed no related‑party transactions with Ms. Lamb at appointment; no arrangements/understandings for her appointment .
Expertise & Qualifications
- Real estate and finance leadership (Goldman Sachs real estate investment banking senior roles; Halstatt principal/MD) .
- Public and private REIT board experience with audit/comp committee service; governance and compliance insights for real estate investment companies .
- Education: B.S. (University of Illinois); M.B.A. (Harvard Business School) .
Equity Ownership
| Item | Amount/Detail |
|---|---|
| Beneficial ownership – Common stock | 0 shares as of Mar 31, 2025 |
| Beneficial ownership – Common stock and units combined | 4,083 shares and units as of Mar 31, 2025 |
| % of outstanding shares (common) | ~0.006% (4,083 / 71,010,969) |
| Ownership guideline (non‑employee directors) | 5x annual cash retainer |
| Shares pledged | Not disclosed in proxy; no pledging disclosure for Lamb |
| Forms filed | Form 3 filed Mar 31, 2025; Form 4 (phantom stock units award) filed Apr 1, 2025 [Bash/insider-trades: https://www.sec.gov/Archives/edgar/data/1040971/000141588925009287/0001415889-25-009287-index.htm] [Bash/insider-trades: https://www.sec.gov/Archives/edgar/data/1040971/000141588925009421/0001415889-25-009421-index.htm] |
Insider Transactions (Forms 3/4)
| Filing Date | Transaction Date | Form | Security | Qty | Price | Post‑Txn Ownership | Notes/Link |
|---|---|---|---|---|---|---|---|
| 2025‑03‑31 | N/A | Form 3 | N/A | — | — | 0 | Initial statement of beneficial ownership |
| 2025‑04‑01 | 2025‑03‑29 | Form 4 | Phantom Stock Units | 4,083.406 | $0.00 | 4,083.406 | Annual award via director deferral/phantom program |
Context: SLG’s director program allows annual grants to be taken as phantom stock units under the Non‑Employee Directors’ Deferral Program; phantom units receive dividend equivalents and typically settle at separation or change in control .
Governance Assessment
- Positives: Independent status; deep real estate capital markets and governance experience; immediate engagement on Compensation Committee; anticipated elevation to NCGC Chair enhances board refresh/ESG oversight credibility .
- Alignment: Participation in standard director equity grant (with ability to defer into stock‑linked units) and 5x retainer ownership guideline support alignment with shareholders; initial phantom unit award recorded on Form 4 [Bash/insider-trades: https://www.sec.gov/Archives/edgar/data/1040971/000141588925009421/0001415889-25-009421-index.htm].
- Conflicts/Red Flags: Company disclosed no related‑party transactions or appointment arrangements; monitor for any future interlocks given concurrent roles at Starwood REIT vehicles (different platforms, but same sector); board attendance overall strong in 2024; no Lamb‑specific attendance data yet due to 2025 appointment .
- Compensation oversight: Comp Committee employs independent advisors (Gressle & McGinley LLC through June 2024; Ferguson Partners from Sept 2024), with Ferguson also assisting CEO compensation structuring and director search that led to Lamb’s appointment—committee independence and processes are clearly disclosed .