Shankh Mitra
Also at Welltower Inc
About
The executive is 43 years old and has a strong background in real estate and capital markets, demonstrating deep expertise and leadership.
Having joined WELL in January 2016 as Senior Vice President – Finance & Investments, he rapidly advanced through multiple roles including Senior Vice President – Investments, Chief Investment Officer, and Vice Chair – COO and CIO before assuming the role of Chief Executive Officer in October 2020.
Prior to his career at WELL, he gained substantial experience at prominent firms such as Millennium Management, Citadel Investment Group, and Fidelity Investments, which further enriched his proficiency in investment management and financial operations.
Combining a robust academic background—holding a Bachelor of Arts in Engineering from Jadavpur University and an MBA from Columbia Business School—with rich industry experience, he has effectively driven WELL’s strategic initiatives while also serving as a director at Public Storage.
$WELL Performance Under Shankh Mitra
Past Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| Welltower | Chief Investment Officer | August 2018 - January 2023 | Provided extensive experience in real estate operations, investments, and balance sheet management |
| Welltower | Vice Chair – Chief Operating Officer and Chief Investment Officer | April 2020 - October 2020 | N/A |
| Welltower | Senior Vice President – Investments | January 2018 - August 2018 | N/A |
| Welltower | Senior Vice President – Finance & Investments | January 2016 - January 2018 | N/A |
| Millennium Management, LLC | Portfolio Manager, Real Estate Securities | July 2013 - December 2015 | N/A |
| Citadel Investment Group | Senior Analyst | April 2012 - June 2013 | N/A |
| Fidelity Investments | Senior Analyst | 2009 - 2012 | N/A |
External Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| Public Storage | Director | N/A | N/A |
Fixed Compensation
| Component Name | Amount | Payment Schedule | Additional Details |
|---|---|---|---|
| Base Salary | $1,200,000 | Annual | 4.3% increase from 2022 |
| Welltower Contribution to 401(k) Plan | $16,500 | Annual (per plan guidelines) | N/A |
| Executive Physical | $10,200 | Annual | N/A |
Performance Compensation
Annual Incentives
| Metric | Threshold/Target/High | Notes |
|---|---|---|
| Incentive Amount | Threshold: $1,350,000<br>Target: $2,700,000<br>High: $5,400,000 | Base incentive targets |
| Corporate Performance Measures | Normalized FFO per Share: $1,620,000<br>Adjusted Fixed Charge Coverage: $810,000<br>ESG Measures: $270,000<br>Individual Performance: $1,620,000 | Metrics used in payout determination |
| Payout | 160% of Target; Amount Earned: $4,320,000 | Actual results achieved |
Grant Details:
- Grant Date: February 23, 2023
- Grant Date Fair Value:
- Performance-Based Awards: $9,076,185
- Time-Based RSUs: $2,577,006
- Vesting Schedule: Time-Based RSUs vest in four equal installments on January 15 of 2024, 2025, 2026, and 2027
- Evaluation Period: Performance metrics under the 2023-2025 LTIP will be evaluated in early 2026, after the performance period ending December 31, 2025
Performance Stock Units (PSUs)
| Metric | Benchmark/Weight | Performance Goals | Notes |
|---|---|---|---|
| Relative Total Shareholder Return (TSR) | 80% of performance grant<br>(40% vs. FTSE Nareit Equity Health Care Index, 40% vs. MSCI US REIT Index) | Threshold: 6% below index<br>Target: at index<br>High: 6% above index | Aligns compensation with relative market performance |
| (Net Debt + Preferred) / Annualized Adjusted EBITDA Ratio | 20% of performance grant | N/A | Focus on balance sheet and leverage strategy |
Grant Details & Vesting for PSUs:
- Grant Date: February 23, 2023
- Grant Date Fair Value:
- Performance-Based PSUs: $9,076,185
- Time-Based RSUs: $2,577,006
- Grant Date Stock Price Reference: An exercise price of $76.17 was provided for stock options on the same day
- Vesting: PSUs vest based on performance over the 2023-2025 period, with performance evaluated in early 2026 and settlement in shares
This detailed breakdown covers the performance compensation components for 2023 including both annual incentives and performance stock units, along with required performance metrics, targets, thresholds, weights, vesting schedules, evaluation periods, and actual payout results.