Heather Ohlberg
About Heather Ohlberg
Heather Ohlberg, 45, was promoted to Executive Vice President, General Counsel and Secretary of Urban Edge Properties (UE), effective June 1, 2025, after joining UE in January 2025 as Senior Vice President and Deputy General Counsel. She previously served as EVP, General Counsel and Secretary of RPT Realty (2019–Jan 2024), Senior Vice President, Legal Leasing and Real Estate at Rouse Properties (2017–2018), and Counsel/Co-Chair of the Retail & Hospitality Group at Tarter Krinsky & Drogin LLP (2011–2016). Ohlberg holds a JD from Hofstra University School of Law and a BA from SUNY Albany . As company context, UE delivered 2024 total shareholder return of 22%, FFO as Adjusted of $169.7 million ($1.35 per diluted share, +8% YoY), and same-property NOI growth of 5.1% .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| RPT Realty | EVP, General Counsel & Secretary | Jan 2019 – Jan 2024 | Served as chief legal officer through company’s acquisition by Kimco Realty Corporation in Jan 2024 . |
| Rouse Properties (Brookfield Retail) | SVP, Legal Leasing & Real Estate | Jan 2017 – Sep 2018 | Led legal functions across leasing and real estate operations . |
| Tarter Krinsky & Drogin LLP | Counsel; Co-Chair, Retail & Hospitality Group | Jan 2011 – Dec 2016 | Co-led retail/hospitality legal practice . |
External Roles
No public-company directorships or committee positions disclosed .
Fixed Compensation
- Not disclosed for Ohlberg in current filings (her Item 5.02 appointment 8-K does not include an offer letter or comp terms; 2025 proxy NEO section does not include her) .
Performance Compensation
- Not disclosed for Ohlberg (no RSU/PSU/LTIP grant terms or metrics identified for her in available filings). Company-wide executive compensation program emphasizes multi-year performance-based LTIP awards tied to absolute/relative TSR, FFO as Adjusted per share growth, and relative same-property NOI growth with defined threshold/target/max schedules and vesting tails (context for UE executives generally) .
Equity Ownership & Alignment
| Policy | Requirement/Status | Notes |
|---|---|---|
| Anti-hedging/anti-pledging | Executives prohibited from pledging, hedging, or short sales of UE securities . | Reduces misalignment/forced selling risk. |
| Clawback | Dodd-Frank compliant policy adopted Oct 19, 2023; recovers excess incentive comp after GAAP restatements within prior 3 years; applies to current/former executive officers . | Strengthens pay-for-performance and risk control. |
| Executive stock ownership guidelines | Company maintains executive ownership guidelines; specific multiples disclosed for CEO (5x salary), CFO (3x), COO (3x). No specific multiple disclosed for GC . | Ohlberg likely subject to guidelines, but GC multiple not specified. |
| Beneficial ownership | Not disclosed for Ohlberg in 2025 proxy security ownership tables (lists CEO/CFO/COO/GC predecessor) . | No pledged shares reported due to pledging prohibition . |
Employment Terms
- Appointment and Role: Promoted to EVP, General Counsel and Secretary; effective June 1, 2025 .
- Employment agreement: No UE employment or compensatory agreement for Ohlberg filed/disclosed to date (no severance/change-in-control terms provided in her 8-K) .
- Policies: Subject to UE insider trading policy and governance framework (anti-hedging/pledging, clawback, executive ownership guidelines) .
Performance & Track Record
| Metric/Context | Details |
|---|---|
| UE business performance (FY 2024) | TSR 22%; FFO as Adjusted $169.7m ($1.35 per share, +8% YoY); same-property NOI +5.1%; same-property leased occupancy 96.6% (+80bps YoY) . |
| Governance transition | Prior GC (Robert C. Milton III) stepped down effective May 31, 2025; company disclosed no disagreements related to financials/operations/policies . |
Say-On-Pay & Shareholder Feedback
| Meeting | Outcome |
|---|---|
| 2025 Annual Meeting | Advisory vote on NEO compensation approved: For 100,303,660; Against 15,233,583; Abstain 40,313; Broker non-votes 2,489,403 . |
Investment Implications
- Retention risk: Near-term retention risk appears contained given rapid promotion to EVP/GC and clean transition from prior GC with no reported disagreements; however, absence of disclosed employment/severance terms for Ohlberg limits visibility on protections and potential change-in-control economics .
- Alignment and selling pressure: Anti-pledging/hedging policy and clawback framework reduce misalignment and forced-selling risks; lack of disclosed personal equity holdings or vesting schedules for Ohlberg prevents assessment of near-term selling pressure or in-the-money value catalysts .
- Compensation signals: UE’s executive program is heavily performance-based with multi-year TSR/FFO/NOI metrics—positive for pay-for-performance culture—but Ohlberg’s specific salary/bonus/equity mix and vesting cadence are not disclosed, constraining analysis of her direct incentives vs. company performance .
- Governance and continuity: Legal leadership continuity should support ongoing capital markets, leasing, and redevelopment execution; company-level 2024 performance momentum provides supportive backdrop, but trading signals tied to Ohlberg’s Form 4 activity cannot be assessed due to lack of available disclosures in current filings .