Kevin P. O'Shea
About Kevin P. O’Shea
Independent Trustee of Urban Edge Properties since 2014; age 59. Currently CFO of AvalonBay Communities (NYSE: AVB) since May 2014; previously EVP–Capital Markets and SVP–Investment Management at AvalonBay, Executive Director at UBS Investment Bank (real estate), and earlier practiced commercial real estate and banking law. Education: MBA (Harvard Business School), JD (Southern Methodist University), BA (Boston College). Determined independent by UE’s Board and designated an Audit Committee Financial Expert .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| AvalonBay Communities (AVB) | Chief Financial Officer | May 2014–present | Financial leadership at major REIT |
| AvalonBay Communities (AVB) | EVP – Capital Markets; SVP – Investment Management | Pre-2014 (joined 2003) | Capital markets and investment management oversight |
| UBS Investment Bank | Executive Director | Pre-2003 | Real estate investment banking experience |
| Private legal practice | Attorney (commercial real estate and banking law) | Early career | Legal expertise in real estate/finance |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| AvalonBay Communities (AVB, NYSE) | Chief Financial Officer | 2014–present | Large multifamily REIT; executive role, not a director |
Board Governance
- Committee assignments: Audit Committee member; Compensation Committee member; not a chair .
- Audit Committee Financial Expert designation; committee fully independent .
- Independence: Board affirmatively determined O’Shea (and all trustees except CEO) are independent per NYSE and UE categorical standards .
- Attendance: Board met 6x in 2024; Audit 4x; Compensation 5x; CG&N 4x. All incumbent trustees attended ≥75% of Board/committee meetings and all trustees attended the 2024 annual meeting .
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| 2024 Fees Earned or Paid in Cash | $100,625 | Individual trustee cash compensation |
| Standard Annual Cash Retainer (non-employee trustees) | $75,000 | Baseline cash retainer |
| Committee Member Retainers | Audit: $12,500; Compensation: $10,000; CG&N: $10,000 | Paid in addition to base retainer |
| Chair/Lead premiums (reference) | Lead Trustee: $60,000; Audit Chair: $25,000; Comp/CG&N Chairs: $20,000 | O’Shea is not a chair |
Performance Compensation
| Equity Instrument | 2024 Grant Date Fair Value | Vesting | Outstanding Unvested at 12/31/2024 |
|---|---|---|---|
| Annual grant (LTIP Units/DSUs/Restricted Stock at trustee’s election) | ~$120,000 | One-year vest from grant date | 8,005 units (O’Shea) |
Equity grants for trustees are time-based; no performance metrics disclosed for trustee equity. Directors must meet stock ownership guidelines (3x annual cash retainer) within 5 years; UE reports all non-employee trustees meet guidelines .
Other Directorships & Interlocks
| Item | Disclosure |
|---|---|
| Other public company directorships | None disclosed (executive role as AVB CFO) |
| Compensation Committee interlocks | None: UE executives do not serve on boards/comp committees of companies with execs on UE’s Board/Comp Committee |
Expertise & Qualifications
| Qualification | Evidence |
|---|---|
| Financial expertise | CFO of major REIT; Audit Committee Financial Expert designation |
| Capital markets/RE investment banking | UBS Investment Bank Executive Director; AVB capital markets leadership |
| Legal grounding | JD; prior practice in commercial real estate/banking law |
| REIT/industry experience | >20 years in REIT sector; senior roles at AVB |
Equity Ownership
| Measure | Amount | Notes |
|---|---|---|
| Common Shares Beneficially Owned | 13,147 | Sole voting/investment power unless noted |
| LTIP Units beneficially owned | 62,803 | Convertible to Common Units, then redeemable for Common Shares |
| Total Shares and Units Beneficially Owned | 75,950 | Sum of Common Shares + LTIP Units |
| Ownership % of Common Shares | <1% | As reported by UE |
| Ownership % incl. Units | <1% | As reported by UE |
| Unvested trustee equity outstanding | 8,005 | At 12/31/2024 |
| Hedging/pledging | Prohibited for trustees and executives under UE policy |
Governance Assessment
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Strengths
- Independent trustee with deep finance, capital markets, and legal expertise; designated Audit Committee Financial Expert, supporting strong financial oversight .
- Dual committee membership (Audit, Compensation) enhances board effectiveness on critical risk/comp topics .
- Alignment mechanisms: meaningful annual equity grants and stock ownership guidelines; all trustees meet the 3x retainer guideline .
- Attendance and engagement: meets attendance thresholds; board and committees active; annual meeting attendance by all trustees .
- No related-party transactions in 2024; reduces conflict-of-interest risk .
- Broader governance signals: strong say‑on‑pay support (96.1%), clawback policy, and prohibitions on hedging/pledging; positive for investor confidence .
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Potential risks/considerations
- External executive role (CFO at AVB) may present time-commitment considerations; however, no competitive conflict or related-party transactions disclosed and independence affirmed .
- Not a committee chair; leadership influence is via expertise rather than chair authority .
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Net view: O’Shea’s financial and legal background, independence, and committee service support board effectiveness with low conflict risk and good alignment to shareholder interests .