Christopher Papa
About Christopher Papa
Christopher Papa was appointed to the Veris Residential (VRE) Board on July 23, 2025 and is a member of the Audit Committee; he will receive standard non‑employee director compensation and equity awards under VRE’s director pay program . Papa is Executive Vice President and Chief Financial Officer at CenterPoint Properties, with over 30 years of experience across real estate, accounting, audit, and M&A; he previously served as CFO at Post Properties, Inc. and Liberty Property Trust and was an audit partner at BDO Seidman and Arthur Andersen; he holds a B.S. in Accounting from Clemson University and is a CPA . The company disclosed there are no arrangements or family relationships tied to his selection and no related‑party transactions under Item 404(a) involving Papa .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Post Properties, Inc. (now MAA) | EVP & CFO | Over 12 years (prior to Liberty) | Led multifamily finance, added specialized multifamily expertise |
| Liberty Property Trust (now Prologis) | EVP & CFO | Approximately 4 years (prior to 2020) | Oversaw complex transactions; deep audit/accounting expertise |
| BDO Seidman, LLP | Audit Partner | Prior role (dates not provided) | Audit leadership; financial reporting rigor |
| Arthur Andersen LLP | Audit Partner | Prior role (dates not provided) | Audit leadership; controls and governance experience |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| CenterPoint Properties | EVP & CFO | 2020–present | Industrial REIT platform; current operating CFO responsibilities |
Board Governance
- Committee assignments: Appointed to VRE’s Audit Committee (non‑employee) .
- Independence: Board applies NYSE standards; eight of nine nominees in the 2025 proxy were independent (management‑independent), and VRE disclosed no Item 404(a) related‑party transactions for Papa; he is serving on Audit, which requires independence under Rule 10A‑3 .
- Attendance and engagement: In 2024 the Board met seven times and no director attended fewer than 75% of meetings; all nine directors attended the 2024 Annual Meeting; non‑management directors held seven executive sessions .
- Committee structure: Standing committees are Audit (Chair: Howard S. Stern), Compensation (Chair: Frederic Cumenal), Nominating/ESG (Chair: Nori Gerardo Lietz), and Strategic Review (Chair: A. Akiva Katz) .
- Stock ownership and conduct policies: Non‑employee directors must hold 5× the annual cash retainer ($325,000) and retain 100% of net shares until compliant; hedging, pledging, margin use are prohibited .
Fixed Compensation
| Compensation Element | Amount | Notes |
|---|---|---|
| Annual Board cash retainer | $75,000 | Effective June 12, 2024 |
| Committee member retainers (Audit) | $10,000 | Applies to Audit members |
| Committee member retainers (Comp) | $7,500 | Applies to Compensation members |
| Committee member retainers (NESG) | $7,500 | Applies to NESG members |
| Strategic Review Committee member retainer | None | No member retainer |
| Committee chair fees (Audit Chair) | $25,000 | Additive to member retainer |
| Other committee chair fees | $15,000 | Comp/NESG chairs |
| Non‑Executive Chair additional retainer | $90,000 | Additive to base retainer |
| Meeting fees (SRC only) | $1,000 per meeting | No meeting fees for other committees |
| Annual equity grant | $130,000 restricted stock, 1‑year vest | Value increased from $115,000 (2023) |
| 2024 grant specifics | 8,904 restricted shares at $14.60 (ASC 718 FV) | Granted June 26, 2024; vesting June 11, 2025 |
| Director Deferred Compensation Plan | Cash fees may be deferred into stock units | Units settle in common stock post‑service or on change‑in‑control |
Note: Papa will receive “standard compensation and equity awards” per VRE’s non‑employee director program .
Performance Compensation
- Directors’ equity compensation is time‑vested restricted stock with no performance metrics; no options repricing, no evergreen features, and no tax gross‑ups in equity agreements .
Other Directorships & Interlocks
| Company | Role | Overlap/Interlock | Notes |
|---|---|---|---|
| Post Properties, Inc. | Former EVP & CFO | Historical tie to multifamily (now MAA) | Not disclosed as a board role |
| Liberty Property Trust | Former EVP & CFO | Historical tie to industrial (now Prologis) | Not disclosed as a board role |
- Current public company directorships for Papa were not disclosed; VRE stated no arrangements/understandings or related‑party transactions in respect of his selection .
- Papa replaced Ronald M. Dickerman (Madison International Realty) who stepped down to allow greater trading flexibility for Madison; Chair highlighted Dickerman’s shareholder perspective and service .
Expertise & Qualifications
- Multifamily REIT finance leadership: CFO roles at Post Properties and executive experience in multifamily operations and transactions .
- Audit and accounting depth: Former audit partner at BDO Seidman and Arthur Andersen; CPA .
- Complex transactions/M&A: Oversaw complex transactions at Liberty Property Trust and Post Properties .
- Education: B.S. in Accounting, Clemson University .
Equity Ownership
- Ownership guidelines: Non‑employee directors must hold equity equal to 5× cash retainer ($325,000) and retain 100% of net shares until compliant; prohibited hedging/pledging/margin use .
- Beneficial ownership disclosure: The 2025 proxy lists director beneficial ownership as of April 17, 2025; Papa was appointed July 23, 2025 and is not included in the April 17, 2025 table .
Governance Assessment
- Board effectiveness: Papa’s Audit Committee appointment adds seasoned CFO, audit, and transaction expertise, strengthening financial oversight .
- Independence and conflicts: No Item 404(a) related‑party transactions involving Papa; Audit membership denotes independence under NYSE/SEC standards; Board maintains prohibitions on hedging/pledging/margin .
- Alignment: Annual director equity grants and strict ownership guidelines promote skin‑in‑the‑game; director compensation design reviewed with independent consultant (FW Cook) and aligns with governance best practices .
- Shareholder signals: Say‑on‑pay approval was ~96.1% in 2024, indicating broad investor support for VRE’s compensation and governance approach .
RED FLAGS: None disclosed specific to Papa (no related‑party transactions, no family relationships, no arrangements); directors are subject to anti‑pledging/hedging/margin policy and clawback regimes for executives .