Mark Alexander
About Mark Alexander
Mark A. Alexander, 66, has served as an independent director of W. P. Carey since 2016 and is designated a financial expert. He is Chairman and Chief Executive Officer of Landmark Property Group, LLC (since 2009) and previously served as CEO, President and Director of Suburban Propane Partners, L.P. (1996–2010). Earlier roles include Senior Vice President of Corporate Development at Hanson Industries, Inc. (1984–1996) and Senior Accountant & CPA at Price Waterhouse & Co. (1980–1984), reflecting more than 35 years of experience in operations, M&A, and accounting .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Landmark Property Group, LLC | Chairman & CEO | 2009–present | Strategic planning, operations, capital markets |
| Suburban Propane Partners, L.P. (NYSE: SPH) | CEO, President & Director | 1996–2010 | Oversaw operations, M&A, investor relations |
| Hanson Industries, Inc. | SVP Corporate Development | 1984–1996 | Corporate development, M&A |
| Price Waterhouse & Co. | Senior Accountant; CPA | 1980–1984 | Audit, financial analysis |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Builders FirstSource, Inc. (NYSE: BLDR) | Director | Since Jan 2021 | Current public company board |
| BMC Stock Holdings, Inc. | Director | 2017–Dec 2020 | Former public board |
| Kaydon Corp. (NYSE: KDN) | Director | 2007–2013 | Former public board |
Board Governance
- Committee memberships: Audit (Financial Expert) and Compensation; not a chair .
- Independence: Board affirmatively determined Alexander is independent under NYSE and SEC rules; all standing committees comprise independent directors .
- Attendance: Board held 4 regular meetings in 2024; each Director attended at least 75% of Board and applicable committee meetings; all Directors attended the 2024 Annual Meeting .
- Committee activity: Audit Committee met 8x in 2024; Compensation Committee met 6x .
- Governance provisions: Independent Chair separate from CEO; no related-party transactions; over-boarding limits; anti-hedging and pledging limits; Dodd-Frank clawback adopted .
Fixed Compensation
| Component | Amount | Timing/Terms |
|---|---|---|
| Annual cash retainer | $100,000 | Paid annually; Directors may elect stock in lieu of cash |
| Committee member retainer | $10,000 per committee | Paid to all committee members, including chairs |
| Chair fees (if applicable) | Not applicable to Alexander | $25,000 (Audit/Comp), $15,000 (NCG), $10,000 (Investment) — Alexander not a chair |
| Meeting fees | None | Not disclosed; compensation via retainers and equity |
| 2024 fees taken in stock | $138,593; 2,365 shares issued in lieu of cash | Alexander elected stock for annual retainer and fees |
2024 Director Compensation Summary:
| Name | Fees Earned or Paid in Cash ($) | Stock Awards ($) | Total ($) |
|---|---|---|---|
| Mark A. Alexander | 138,593 | 174,980 | 313,573 |
Performance Compensation
- Annual director equity grant: $175,000 grant value, issued on or about July 1 as RSAs or RSUs; one-year vest; RSAs have voting rights; dividends on RSAs/RSUs accrue until vest/delivery; Directors can elect to defer equity into RSUs under the Deferred Compensation Plan .
- 2024 equity detail: Alexander held 3,203 unvested Director RSAs as of Dec 31, 2024; grant date July 1, 2024; fair value per share $54.63; scheduled to vest July 1, 2025 .
| Metric | 2024 Director Equity Terms |
|---|---|
| Grant type | Director RSAs (or RSUs if deferred) |
| Grant date | July 1, 2024 |
| Shares granted | 3,203 (unvested as of 12/31/24) |
| Grant date fair value per share | $54.63 |
| Vesting | One year; RSAs/RSUs vest July 1, 2025 |
| Voting rights | RSAs: yes; RSUs: no |
| Dividends | Accrue; paid at vest/delivery |
| Options, performance awards | None for non-employee directors in 2024 |
Note: Non-employee director compensation at WPC is time-vested; there are no performance metrics tied to director pay (no options or non-equity incentives in 2024) .
Other Directorships & Interlocks
| Company | Sector Overlap with WPC | Potential Interlock Risk |
|---|---|---|
| Builders FirstSource (BLDR) | Building products distribution; WPC is a net lease REIT | No related-party transactions disclosed; Board confirms independence; over-boarding limits observed |
Expertise & Qualifications
- Strategic planning, operational management, public & private capital markets, financial analysis, accounting, investor relations; CPA; experienced CEO .
- Board skills mapping includes strategic planning, international business, risk oversight, real estate, ESG .
Equity Ownership
| Holder | Shares Beneficially Owned (#) | % of Class | Notes |
|---|---|---|---|
| Mark A. Alexander | 46,670 | <1% | Includes 3,203 2024 Director RSAs with voting rights; excludes unvested RSUs; not pledged |
| Ownership guidelines | 5x annual cash retainer for non-executive directors | — | Alexander has met the requirement (five-year phase-in reached) |
Footnotes:
- Beneficial ownership includes vested deferred shares and units deliverable within 60 days; excludes unvested RSUs and unearned PSUs; except as noted, shares are not pledged .
Governance Assessment
- Committee effectiveness: Dual service on Audit (financial expert) and Compensation indicates deep involvement in financial reporting integrity and pay governance; both committees met frequently (Audit 8x; Comp 6x in 2024), supporting active oversight .
- Independence and attendance: Affirmatively independent; attended ≥75% of Board and committee meetings; attended 2024 Annual Meeting—positive engagement signal .
- Alignment: Elected to receive cash fees in stock (2,365 shares), increasing ownership alignment; holds 46,670 shares and meets WPC’s 5x retainer ownership guideline; RSAs with voting rights further tie incentives to shareholder outcomes .
- Conflicts and red flags: No related-party transactions disclosed; no pledging by Alexander; company-wide anti-hedging/pledging policies and clawback framework in place; over-boarding limits enforced—no specific red flags identified for Alexander .
- Compensation structure: Director pay is balanced between cash retainer and time-vested equity; no options or performance-linked director awards in 2024, consistent with typical REIT board compensation; chair fees not applicable to Alexander .
Overall implication: Alexander presents as an engaged, financially sophisticated independent director with strong alignment signals (stock election; guideline compliance) and no disclosed conflicts, supporting investor confidence in WPC’s board oversight .