Tammy Jones
About Tammy Jones
Tammy K. Jones (age 59) is the independent Chair of Veris Residential’s Board, appointed to the Board in 2020; she served as Lead Independent Director before being named Chair in March 2021 . She holds a B.A. in Economics from Cornell University and an MBA in Real Estate Finance from Georgia State University, with 25+ years of capital markets and commercial real estate experience focused on multifamily investing and lending . She is independent under NYSE standards (eight of nine current directors are independent, including Jones) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Basis Investment Group | Founder & CEO | Not disclosed | Led multifamily debt/equity portfolio to >35,000 units across U.S. |
| CWCapital | Head of Fixed/Floating Rate Capital Markets Lending Division | 2004–2009 | Invested/loaned on CRE and multifamily for institutional clients |
| GMACCM/GMAC (now Berkadia) | Senior Vice President | Not disclosed | Large commercial real estate lender experience |
| Equitable Real Estate Investment Management | Various roles (equity and asset management sides) | Not disclosed | Broad real estate investment and asset management work |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Crown Castle International (NYSE: CCI) | Independent Director; Chairs Nominating, Environmental, Social & Governance | 2020–Present | Member: Audit, Finance, CEO Search Committees |
| Monogram Residential Trust (NYSE: MORE) | Director | 2016–2017 | Company taken private at 22% premium during tenure |
| KKR Real Estate Select Trust, Inc. | Director | 2020–2021 | Not disclosed |
Board Governance
- Independence: Jones is independent; Board separated Chair and CEO roles; eight of nine director nominees are independent .
- Engagement: Board met seven times in 2024; no director attended less than 75% of Board/committee meetings; all nine directors attended the 2024 Annual Meeting .
- Executive sessions: Non-management directors met in Executive Session seven times in 2024, presided over by the Chair .
- Committees: Jones is member of Audit, NESG (Nominating, Environmental, Social and Governance), and Strategic Review Committees .
| Committee | Role | Meetings Held (2024) |
|---|---|---|
| Audit | Member | 4 |
| NESG | Member | 4 |
| Strategic Review | Member | 4 |
Fixed Compensation
| Element | Amount | Notes |
|---|---|---|
| Annual Board Cash Retainer | $75,000 | Effective June 12, 2024 |
| Non-Executive Chair Additional Retainer | $90,000 | Paid to Chair of the Board |
| Committee Member Retainers – Audit | $10,000 | Membership retainer |
| Committee Member Retainers – NESG | $7,500 | Membership retainer |
| Strategic Review Committee Meeting Fee | $1,000 per meeting | SRC-only meeting fees (4 meetings in 2024) |
| 2024 Cash Fees Earned (Actual) | $187,000 | Tammy K. Jones 2024 director cash fees |
Performance Compensation
| Award Type | Grant Date | Shares Granted | Grant-Date Fair Value | Vesting |
|---|---|---|---|---|
| Restricted Common Stock (annual director grant) | June 26, 2024 | 8,904 | $14.60 per share ($130,000 total) | Vests June 11, 2025 |
| Annual Equity Grant Policy | Effective June 12, 2024 | — | $130,000 restricted stock, one-year vesting | Time-based (service) vesting |
- Directors’ equity is service-based restricted stock (no performance metrics for director awards) . Executive performance metrics (for NEOs) include Adjusted FFO, absolute and relative TSR; not applicable to director compensation .
Other Directorships & Interlocks
| Company | Industry | Role/Committee | Potential Interlock/Conflict Consideration |
|---|---|---|---|
| Crown Castle (CCI) | Telecom infrastructure | NESG Chair; Audit, Finance, CEO Search member | Distinct industry from residential REIT; low direct conflict risk. |
| Monogram Residential Trust | Multifamily REIT | Director (prior) | Historical role; company taken private at 22% premium . |
| KKR Real Estate Select Trust | Real estate | Director (prior) | Prior role; no current exposure disclosed . |
Expertise & Qualifications
- Deep commercial real estate, capital markets, lending and multifamily investing experience; prior senior roles at CWCapital, GMACCM, Equitable; CEO of Basis Investment Group .
- Education: BA Economics (Cornell); MBA Real Estate Finance (Georgia State) .
- Recognitions: Crain’s Notable Leaders in Finance (2024), Savoy’s Most Influential Black Corporate Directors (2021), multiple industry awards, indicating broad sector credibility .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Shares Outstanding | Notes |
|---|---|---|---|
| Tammy K. Jones | 34,322 | <1% (omitted by company as “*”) | As of April 17, 2025. |
| Director Ownership Guidelines | 5× annual cash retainer (currently $325,000) | — | Directors must retain 100% of net-after-tax shares until compliant (since Feb 2022) . Anti-pledging/anti-hedging policy in place . Company states each director is in compliance and moving towards the goal as of the last measuring date . |
Insider Trades (Form 4)
| Filing Date | Transaction Date | Type | Shares Transacted | Post-Transaction Ownership | Form | Source |
|---|---|---|---|---|---|---|
| 2025-06-13 | 2025-06-11 | Award (A) | 8,541 | 42,863 | 4 | https://www.sec.gov/Archives/edgar/data/924901/000141588925017276/0001415889-25-017276-index.htm |
| 2024-06-28 | 2024-06-26 | Award (A) | 8,904 | 34,322 | 4 | https://www.sec.gov/Archives/edgar/data/924901/000141588924018473/0001415889-24-018473-index.htm |
| 2023-06-16 | 2023-06-14 | Award (A) | 6,773 | 25,418 | 4 | https://www.sec.gov/Archives/edgar/data/924901/000141588923009966/0001415889-23-009966-index.htm |
Governance Assessment
- Committee assignments and expertise: Jones’ seat on Audit and NESG and membership on the Strategic Review Committee align with her capital markets and real estate expertise; Board confirms all Audit members, including Jones, are independent and qualify as “Financial Experts” under SEC rules—positive for financial oversight quality .
- Independence and engagement: Independent Chair structure, majority voting with resignation policy, executive sessions led by Jones (seven times), and strong attendance (no director below 75%) support effective oversight and investor confidence .
- Compensation alignment: Director pay structure is balanced with cash retainers and a one-year RSU grant; 2024 actual for Jones was $187,000 cash and $130,000 equity ($317,000 total), with equity time-based vesting—appropriate for directors and aligned to service rather than short-term metrics .
- Ownership alignment and risk controls: Robust ownership guidelines (5× retainer), 100% net-after-tax share retention until compliant, and strict anti-hedging/anti-pledging policy lower misalignment risk; company indicates directors are in compliance and progressing toward the guideline target .
- Related-party/Conflict monitoring: Formal related person transaction policy overseen by NESG; directors prohibited from participating in reviews involving themselves; no Compensation Committee interlocks or related-person transactions requiring disclosure in 2024—reduces conflict risk .
- RED FLAGS: None disclosed specific to Jones. No legal proceedings involving directors/officers; no hedging/pledging permitted; no director attendance shortfalls reported; director awards are not repriced and do not include tax gross-ups .