Thomas Bohjalian
About Thomas Bohjalian
Thomas “Tom” Bohjalian was appointed to SmartRent’s Board as a Class I director on June 23, 2025, and joined the Audit and Compensation Committees . He brings over 30 years of real estate and finance experience, including nearly two decades at Cohen & Steers, where he served as Executive Vice President, Head of U.S. Real Estate and Senior Portfolio Manager; he currently chairs the board of Healthcare Realty Trust (NYSE: HR), previously served on the board of Apartment Income REIT Corp. (NYSE: AIRC), and is a senior real estate advisor to BeyondView; he holds a BS and MBA from Northeastern University and is a CFA charterholder . Tenure on SMRT’s board began June 23, 2025 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Cohen & Steers (NYSE: CNS) | Executive Vice President; Head of U.S. Real Estate; Senior Portfolio Manager | Not disclosed (press release states “nearly two decades”) | Led U.S. real estate investing; senior portfolio management |
| Apartment Income REIT Corp. (NYSE: AIRC) | Director (prior) | Not disclosed | Public REIT board governance |
External Roles
| Organization | Role | Status/Timing | Notes |
|---|---|---|---|
| Healthcare Realty Trust (NYSE: HR) | Board Chair | Current | Oversees governance at healthcare REIT |
| BeyondView (PropTech) | Senior Real Estate Advisor | Current | Advisor to digital twin platform |
| Apartment Income REIT Corp. (NYSE: AIRC) | Director | Prior | REIT board service |
Board Governance
- Committee assignments: Audit Committee member; Compensation Committee member .
- Independence: SMRT’s Audit and Compensation Committees are composed solely of independent directors per NYSE standards; appointment to these committees indicates he met independence criteria, though the 8-K does not explicitly label him “independent” .
- Attendance/engagement: 2024 Board met 15 times; all directors then in office attended at least 75% of combined Board/committee meetings; SMRT encourages director attendance at annual meetings (2024 was fully attended); Bohjalian’s 2025 attendance not yet disclosed .
- No related-party transactions: 8-K affirms no Item 404(a) related person transactions with Bohjalian and no arrangements/understandings related to his selection; standard indemnification agreement to be executed .
- Board leadership context: Independent Board Chair (John Dorman); regular executive sessions of independent directors; fully independent key committees .
Fixed Compensation
| Component | Annual Cash Amount ($) | Applies to Bohjalian? |
|---|---|---|
| Board member fee | 80,000 | Yes, per standard non-employee director policy |
| Audit Committee chair fee | 20,000 | No (member only) |
| Audit Committee member fee | 10,000 | Yes |
| Compensation Committee chair fee | 15,000 | No (member only) |
| Compensation Committee member fee | 7,500 | Yes |
| Board Chair fee (independent chair) | 75,000 (policy; with temporary Q3–Q4 2024 and Jan–Feb 2025 increase to $93,750 per quarter) | Not applicable |
Notes: SMRT compensates non-employee directors with cash plus RSUs under a standardized policy; payments are quarterly in arrears . Bohjalian will receive standard non-employee director cash compensation per policy .
Performance Compensation
| Equity Award Type | Grant Date | Shares/Grant Size | Fair Value/Framework | Vesting | Notes |
|---|---|---|---|---|---|
| Initial RSU (non-employee director) | June 23, 2025 | 146,062 RSUs | Prorated initial award under 2021 Equity Incentive Plan | Vests in full on earlier of May 13, 2026 or immediately prior to the next annual meeting, subject to continued service | Standard director RSUs are time-based; no performance metrics disclosed |
| Annual RSU (policy) | Annual (grant at/after meeting) | $150,000 grant date fair value | Director Compensation Policy | 100% vesting on earlier of date prior to next annual meeting or one year from grant, subject to service | Applies prospectively to non-employee directors |
| Change-in-control treatment (directors) | N/A | N/A | Any initial/annual RSUs vest in full upon Change in Control, subject to continued service through such date | Immediate vesting on CoC | Director grants may also vest immediately before termination by the Company other than for cause |
Other Directorships & Interlocks
| Company | Relationship to SMRT Board | Interlock/Overlap |
|---|---|---|
| Healthcare Realty Trust (NYSE: HR) | Bohjalian current Board Chair | None disclosed with SMRT vendors/customers |
| Apartment Income REIT Corp. (NYSE: AIRC) | Bohjalian prior director; SMRT director Ann Sperling previously served as AIRC/AIV director (2018–2024) | Network linkage via prior AIRC board service (no SMRT related transactions disclosed) |
Expertise & Qualifications
- Real estate/multifamily domain expertise and public company governance experience (HR chair; prior AIRC) .
- Capital markets and institutional real estate investing leadership from Cohen & Steers; senior portfolio management track record .
- CFA charterholder; BS and MBA from Northeastern University .
- Relevant committee fit: Audit (financial literacy expected for Audit members under SMRT practice), Compensation governance experience; appointment to both committees .
Equity Ownership
| Item | Detail |
|---|---|
| Beneficial ownership (SMRT) | Not disclosed in 2025 proxy table (appointment post-proxy); initial RSU covering 146,062 shares granted June 23, 2025 . |
| Vested vs. unvested | RSUs vest in full at the earlier of May 13, 2026 or immediately prior to the next annual meeting, subject to service . |
| Hedging/pledging | Hedging prohibited; pledging generally prohibited unless stringent conditions and prior approval; no director shares currently pledged or in margin accounts . |
| Stock ownership guidelines | Non-employee directors required to hold at least 5x base annual retainer; phase-in within five years; all directors within phase-in as of Dec 31, 2024 (Bohjalian subject to phase-in from appointment) . |
Governance Assessment
- Strengths for investor confidence: Seasoned real estate/finance operator with public board chair experience; dual committee service enhances board capacity in financial oversight and pay governance . SMRT’s committees are fully independent with robust charters; independent chair and regular executive sessions support board effectiveness .
- Incentive alignment: Director compensation mix balances fixed cash retainers with annual RSUs; standard vesting aligns with continued service; ownership guidelines (5x retainer) reinforce alignment; hedging/pledging restrictions reduce misalignment risk .
- Conflicts/red flags: Company disclosed no related person transactions and no special arrangements in Bohjalian’s appointment; initial RSU proration is standard; no disclosed pledging or hedging; no legal proceedings indicated in filings reviewed .
- Network considerations: Prior AIRC board service overlaps with SMRT director Ann Sperling’s prior AIRC/AIV tenure, indicating sector-network breadth; no SMRT-related transactions disclosed from this linkage .
- Disclosure gaps: Attendance for 2025 and individual independence labeling for Bohjalian not explicitly disclosed yet; future proxy expected to detail these items .