Thomas W. Toomey

Chairman of the Board and Chief Executive Officer at UDR

Board

Since January 1, 2018

Age

63 years

Tenure

Joined UDR in 2001 as Chief Executive Officer and board member, served as President from 2001 to 2019, and was appointed as Chairman of the Board effective 01-01-2018.

Also at UDR

JDF

Joseph D. Fisher

President, Chief Financial Officer, and Chief Investment Officer

MDL

Michael D. Lacy

Chief Operating Officer

About

Thomas W. Toomey has been a transformative leader at UDR, guiding the company through significant strategic growth and portfolio repositioning that involved approximately $22 billion in acquisitions and dispositions, as well as over $5 billion in multifamily developments which contributed to an above-average return of 11% for shareholders.

Prior to his tenure at UDR, he honed his expertise in the real estate sector through senior leadership roles at AIMCO, where he served as Chief Operating Officer and Chief Financial Officer, and at Lincoln Property Company as a Senior Vice President, experiences that bolstered his reputation for driving operational excellence.

Beyond his executive responsibilities, his contributions extend to the broader industry as he has held influential positions with distinguished organizations such as the Urban Land Institute, the National Association of Real Estate Investment Trusts, and the National Multi Housing Council, further reinforcing his commitment to advancing industry standards and best practices.

His career, marked by a blend of visionary leadership and hands-on operational expertise, reflects a deep dedication to both corporate growth and industry innovation, making his profile one of enduring impact within the multifamily real estate sector.

$UDR Performance Under Thomas W. Toomey

Past Roles

Organization	Role	Date Range	Details
UDR	President	2001 to 2019	Held prior to his appointment as Chairman and CEO
AIMCO	Chief Operating Officer and Chief Financial Officer	N/A	Instrumental in transforming AIMCO; achieved ten-fold portfolio growth
Lincoln Property Company	Senior Vice President	5 years	Served five years at a multifaceted national real estate firm

External Roles

Organization	Role	Date Range [N/A]	Details
Urban Land Institute (ULI)	Trustee and Past Global Chair	N/A	Active involvement at ULI
ULI Foundation	Board Member	N/A	Active board membership
National Multi Housing Council (NMHC)	Member of the Executive Committee	N/A	Active role in NMHC
The Real Estate Roundtable	Member	N/A	Active role in the roundtable
Oregon State University Foundation	Past Chair and Trustee	N/A	Ongoing active involvement

Fixed Compensation

Data from FY 2023

Component Name	Amount	Payment Schedule	Additional Details
Base Salary	$900,000	Annual	Remained unchanged from 2022.
Aircraft Lease Payments	$199,430	As Incurred	Paid under an aircraft time-share agreement; covers lease fee for flight expenses as determined by the board.

Performance Compensation

Data from FY 2023

Performance Compensation Details for 2023

Compensation Components and Metrics

Component	Weight	Threshold ($)	Target ($)	Maximum ($)
Company Performance	70%	735,000	1,470,000	2,940,000
Individual Performance	30%	315,000	630,000	1,260,000
Total	100%	1,050,000	2,100,000	4,200,000

Actual Award

Total STI Award: $2,897,375
- Company Performance Component: $1,847,375
- Individual Performance Component: $1,050,000

Vesting and Evaluation

Grant Date: October 2022 (election date for the compensation form).
Vesting Schedule: 100% STI compensation for 2023 received in Class 2 Performance LTIP Units, subject to performance-based vesting conditions.
Evaluation Period: Annual performance for the calendar year 2023.

Additional Performance Metrics

Performance Metrics include:
- Company performance against annual performance metrics (70%).
- Individual performance based on board-approved leadership competencies and key performance objectives (30%), including strategic planning, leadership, and board relations.