Jeff Blau
About Jeff T. Blau
Jeff T. Blau (age 56) is an independent director of Sun Communities, Inc. (SUI) since 2023; he is CEO and Partner of Related Companies, with an MBA from Wharton and BBA from the University of Michigan, bringing deep real estate, capital markets, and strategic leadership experience to the Board . In 2024, the Board met 18 times and all directors attended at least 75% of Board and committee meetings; SUI affirms Blau’s independence under NYSE rules and that independent directors meet in regular executive sessions .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Related Companies L.P. | Chief Executive Officer and Partner | Not disclosed | Responsible for strategic direction, acquisitions, new development opportunities, and financing across platforms |
External Roles
| Organization | Role | Tenure/Status | Committees/Impact |
|---|---|---|---|
| Equinox Holdings, Inc. | Director | Current | Board service; private company |
| energyRe | Chairman | Current | Chairman of a clean energy development company |
| Real Estate Roundtable | Chair, Equity, Diversity and Inclusion Committee | Current | Industry leadership on EDI |
| Central Park Conservancy | Director/Trustee | Current | Non-profit board service |
| New York Partnership Fund | Director | Current | Non-profit/industry development |
| Robin Hood Foundation | Director | Current | Non-profit board service |
| Trinity School | Director | Current | Non-profit board service |
| Lincoln Center | Director | Current | Non-profit board service |
| The Mount Sinai Medical Center | Director | Current | Non-profit board service |
Board Governance
| Item | Detail |
|---|---|
| Independence | SUI classifies Jeff T. Blau as an independent director under NYSE rules; independent directors meet in executive session regularly . |
| Committee assignments (2024/current) | Capital Allocation Committee – Chair (5 meetings in 2024; all members independent) ; CEO Succession Planning Committee – Co‑Chair (formed Nov 2024; all members independent) ; Compensation Committee – Member (1 meeting in 2024; all members independent) . |
| Committee remits (high-level) | Capital Allocation: reviews capital allocation priorities, development/M&A, dividend/return policy . CEO Succession: leads CEO transition planning, candidate profile, and search process . Compensation: sets CEO/NEO pay, oversees incentive/equity plans and director pay recommendations . |
| Attendance | Board met 18 times in 2024; all directors attended ≥75% of Board and applicable committee meetings . |
| Lead Independent Director | Clunet R. Lewis serves as Lead Independent Director (separate from Blau) . |
| Policies | Anti-hedging policy for directors/executives; pledging prohibited unless NCG Committee approves; clawback policy maintained . |
Fixed Compensation
| Component | Amount/Terms |
|---|---|
| 2024 Cash fees (Jeff T. Blau) | $110,729 in fees earned in 2024 . |
| 2024 Fee schedule (non-employee directors) | Lead Independent Director fee: $25,000; Committee Chair fees: Audit $30,000, Compensation $22,500, Capital Allocation $22,500, NCG $22,500; Committee member fees: Audit $25,000, Compensation $17,500, Capital Allocation $17,500, NCG $17,500; Executive Committee member fee $17,500; no extra fees for CEO Succession Planning Committee . |
| 2025 change | All Board and committee fees reduced by 20% from 2024 amounts to align director compensation expense with market cap trends . |
Performance Compensation
| Equity Element | Grant Date | Shares/Value | Vesting/Notes |
|---|---|---|---|
| 2024 Annual restricted stock (non-employee directors) | Jan 18, 2024 | For Blau: grant fair value $258,020; directors (other than Ehlinger/Leupold) received 2,000 shares on Jan 18; Blau’s outstanding restricted shares at 12/31/2024 totaled 4,000 . | |
| Deferral option | — | — | Some directors may defer receipt under the Non-Employee Directors Deferred Compensation Plan; Blau is not listed among those who deferred in 2024 . |
Note: SUI’s director equity grants are time-based restricted shares; no performance-vested (PSU) metrics are disclosed for directors in 2024 .
Other Directorships & Interlocks
- Current public company directorships: None disclosed for Blau in the proxy; Equinox Holdings is listed but is a private company .
- Compensation Committee interlocks: SUI discloses no interlocking relationships for its Compensation Committee (members in 2024 included Blau) .
Expertise & Qualifications
- Real estate leadership and capital allocation expertise as CEO of Related Companies; strategic direction, acquisitions, development, and financing experience .
- Governance/industry leadership roles (e.g., chairing Real Estate Roundtable’s EDI Committee) .
- Academic credentials: MBA (Wharton), BBA (University of Michigan) .
Equity Ownership
| Item | Data |
|---|---|
| Beneficial ownership (as of Mar 10, 2025) | 5,600 shares; <1% of outstanding . |
| Restricted shares outstanding (12/31/2024) | 4,000 restricted shares outstanding . |
| Pledged shares | None disclosed for Blau; pledging generally prohibited without NCG approval . |
| Stock ownership guidelines (directors) | Required to hold 8x annual Board cash retainer; each non-employee director was in compliance as of Mar 10, 2025 . |
| Anti-hedging/clawback | Directors are subject to anti-hedging; SUI maintains an executive compensation clawback policy (executives) . |
Governance Assessment
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Strengths and investor-confidence signals:
- Chairs Capital Allocation Committee and co-chairs CEO Succession Planning Committee, placing him at the center of capital deployment oversight and the ongoing CEO transition—both material to valuation and risk management .
- Independent director with active committee roles and Board reporting of regular independent executive sessions; 2024 attendance thresholds met across the Board .
- Ownership alignment via restricted stock and compliance with stringent 8x retainer stock ownership guideline for directors .
- Board responsiveness: 2025 cut of all Board/committee fees by 20% and continuing shareholder support for executive pay (≈92% say‑on‑pay approval in 2024) indicate governance attentiveness to investor feedback and pay alignment .
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Conflicts and related parties:
- No related-party transactions involving Blau were disclosed; 2024 related-party items involved other directors/executives (e.g., HQ lease with American Center LLC, aircraft usage by CEO, legal services by former director’s firm) .
- Compensation Committee interlocks: None disclosed (reduces conflict risk) .
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Risk indicators and potential watch items:
- Multiple external leadership and board roles may elevate time‑commitment considerations; however, SUI reports minimum attendance thresholds were met in 2024 .
- Pledging of SUI stock is restricted and not disclosed for Blau; policy oversight resides with NCG Committee (mitigates alignment risk) .
Appendix: Company-Level Context (select governance KPIs)
- Board composition/refreshment: Ongoing refresh with new independent nominees and committee rebalancing post‑2025 annual meeting .
- Independent oversight: 89% independent; Lead Independent Director structure; committee independence affirmed .
- Stakeholder engagement and say‑on‑pay: ≈92% approval in 2024; ongoing outreach to top holders .