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Directors with Terms expiring at the Annual Meeting/Nominees | | Class | | Age | | Position | | Director Since | | Current Term Expires | | Expiration of Term For Which Nominated | | | Class | | Age | | Position | | Director Since | | Current Term Expires | | Expiration of Term For Which Nominated | | ||||||||||||
Lee M. Elman | | II | | 82 | | Independent Director, Conflicts Committee Chair | | 2016 | | 2019 | | 2022 | | |||||||||||||||||||||||||
P. Sue Perrotty | | II | | 65 | | Non-Executive Chair, Audit Committee Chair, Nominating and Corporate Governance Committee Chair | | 2015 | | 2019 | | 2022 | | |||||||||||||||||||||||||
Continuing Directors | | | ||||||||||||||||||||||||||||||||||||
James L. Nelson | | III | | 69 | | Director, Chief Executive Officer and President | | 2017 | | 2020 | | — | | |||||||||||||||||||||||||
Edward G. Rendell | | I | | 74 | | Independent Director, Compensation Committee Chair | | 2012 | | 2018 | | 2021 | | | I | | 75 | | Independent Director, Compensation Committee Chair | | 2012 | | 2021 | | — | | ||||||||||||
Edward M. Weil, Jr. | | III | | 51 | | Director | | 2017 | | 2020 | | — | | |||||||||||||||||||||||||
Abby M. Wenzel | | I | | 58 | | Independent Director | | 2012 | | 2018 | | 2021 | | | I | | 58 | | Independent Director | | 2012 | | 2021 | | — | | ||||||||||||
Continuing Directors | | | ||||||||||||||||||||||||||||||||||||
Lee M. Elman | | II | | 81 | | Independent Director, Conflicts Committee Chair | | 2016 | | 2019 | | — | | |||||||||||||||||||||||||
James L. Nelson | | III | | 68 | | Director, Chief Executive Officer and President | | 2017 | | 2020 | | — | | |||||||||||||||||||||||||
P. Sue Perrotty | | II | | 64 | | Non-Executive Chair, Audit Committee Chair, Nominating and Corporate Governance Committee Chair | | 2015 | | 2019 | | — | | |||||||||||||||||||||||||
Edward M. Weil, Jr. | | III | | 51 | | Director | | 2017 | | 2020 | | — | | |||||||||||||||||||||||||
Executive Officers (not listed above) | | | | | ||||||||||||||||||||||||||||||||||
Christopher J. Masterson | | N/A | | 35 | | Chief Financial Officer, Treasurer and Secretary | | N/A | | N/A | | N/A | | | N/A | | 36 | | Chief Financial Officer, Treasurer and Secretary | | N/A | | N/A | | N/A | |
Name | | Fees Paid in Cash ($) | | Stock Awards ($)(1) | | Option Awards ($) | | Non-Equity Incentive Plan Compensation ($) | | Changes in Pension Value and Nonqualified Deferred Compensation Earnings ($) | | All Other Compensation ($)(2) | | Total Compensation ($) | | | Fees Paid in Cash ($) | | Stock Awards ($)(1) | | Option Awards ($) | | Non-Equity Incentive Plan Compensation ($) | | Changes in Pension Value and Nonqualified Deferred Compensation Earnings ($) | | All Other Compensation ($)(2) | | Total Compensation ($) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Lee M. Elman | | | $ | 108,688 | | | | $ | 65,000(3) | | | | | — | | | | | — | | | | | — | | | | $ | 5,204 | | | | $ | 178,892 | | | | | $ | 131,720 | | | | $ | 65,000(3) | | | | | — | | | | | — | | | | | — | | | | $ | 12,524 | | | | $ | 209,244 | | | ||||||||||||||
William M. Kahane(4) | | | $ | — | | | | $ | — | | | | | — | | | | | — | | | | | — | | | | $ | — | | | | $ | — | | | ||||||||||||||||||||||||||||||||||||||||||||||||||
James L. Nelson | | | $ | 33,927(5) | | | | $ | — | | | | | — | | | | | — | | | | | — | | | | $ | — | | | | $ | 33,927 | | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | ||||||||||||||
P. Sue Perrotty | | | $ | 182,500 | | | | $ | 117,500(6) | | | | | — | | | | | — | | | | | — | | | | $ | 48,017 | | | | $ | 348,017 | | | | | $ | 182,000 | | | | $ | 117,500(4) | | | | | — | | | | | — | | | | | — | | | | $ | 36,112 | | | | $ | 335,612 | | | ||||||||||||||
Edward G. Rendell | | | $ | 123,500 | | | | $ | 65,000(3) | | | | | — | | | | | — | | | | | — | | | | $ | 37,770 | | | | $ | 226,270 | | | | | $ | 124,250 | | | | $ | 65,000(3) | | | | | — | | | | | — | | | | | — | | | | $ | 25,051 | | | | $ | 214,301 | | | ||||||||||||||
Edward M. Weil, Jr.(7) | | | $ | — | | | | $ | — | | | | | — | | | | | — | | | | | — | | | | $ | — | | | | $ | — | | | ||||||||||||||||||||||||||||||||||||||||||||||||||
Edward M. Weil, Jr. | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | ||||||||||||||||||||||||||||||||||||||||||||||||||
Abby M. Wenzel | | | $ | 127,500 | | | | $ | 65,000(3) | | | | | — | | | | | — | | | | | — | | | | $ | 37,770 | | | | $ | 230,270 | | | | | $ | 126,250 | | | | $ | 65,000(3) | | | | | — | | | | | — | | | | | — | | | | $ | 25,051 | | | | $ | 214,301 | | |
Plan Category | | | Number of Securities to be Issued Upon Exercise of Outstanding Options, Warrants, and Rights | | | Weighted-Average Exercise Price of Outstanding Options, Warrants and Rights | | | Number of Securities Remaining Available Under Equity Compensation Plans (Excluding Securities Reflected in Column (a)) | | |||||||||
| | | (a) | | | (b) | | | (c) | | |||||||||
Equity Compensation Plans approved by security holders | | | | | — | | | | | | — | | | | | | — | | |
Equity Compensation Plans not approved by security holders | | | | | 2,554,930(1) | | | | | | — | | | | | | | | |
Total | | | | 2,554,930(1) | | ||||||||||||||
| | | | — | | | | | $ | | | ||||||||
|
Beneficial Owner(1) | | Number of Shares Beneficially Owned | | Percent of Class | | | Number of Shares Beneficially Owned | | Percent of Class | | ||||||||||||||||
The Vanguard Group(2) | | | | 10,681,652 | | | | | 15.9% | | | |||||||||||||||
Blackrock, Inc.(3) | | | | 9,767,923 | | | | | 14.5% | | | |||||||||||||||
Vanguard Specialized Funds – Vanguard REIT Index Fund(4) | | | | 4,530,253 | | | | | 6.7% | | | |||||||||||||||
Blackrock, Inc.(2) | | | | 12,084,313 | | | | | 14.4% | | | |||||||||||||||
The Vanguard Group(3) | | | | 11,237,698 | | | | | 13.4% | | | |||||||||||||||
James L. Nelson | | | | 8,000 | | | | | * | | | | | | 8,000 | | | | | * | | | ||||
Christopher J. Masterson | | | | — | | | | | — | | | | | | — | | | | | — | | | ||||
Edward M. Weil, Jr.(5) | | | | 22,018 | | | | | * | | | | | | 22,018 | | | | | * | | | ||||
Lee M. Elman(6) | | | | 7,150 | | | | | * | | | | | | 10,694 | | | | | * | | | ||||
P. Sue Perrotty(7) | | | | 29,181 | | | | | * | | | | | | 35,588 | | | | | * | | | ||||
Gov. Edward G. Rendell(8) | | | | 24,608 | | | | | * | | | | | | 28,152 | | | | | * | | | ||||
Abby M. Wenzel(9) | | | | 24,546 | | | | | * | | | | | | 28,090 | | | | | * | | | ||||
Scott J. Bowman(10) | | | | 42,330 | | | | | * | | | |||||||||||||||
Nicholas Radesca(11) | | | | — | | | | | — | | | |||||||||||||||
All directors and executive officers as a group (seven persons) | | | | 115,503 | | | | | * | | | | | | 132,542 | | | | | * | | |
| | | Performance Period | | | Annual Period | | | Interim Period | | |||||||||
Absolute Component: 4% of any excess Total Return attained above an absolute hurdle measured from the beginning of such period: | | | | | 21% | | | | | | 7% | | | | | | 14% | | |
Relative Component: 4% of any excess Total Return attained above the Total Return for the performance period of the Peer Group*, subject to a ratable sliding scale factor as follows based on achievement of cumulative Total Return measured from the beginning of such period: | | | | | |||||||||||||||
• 100% will be earned if cumulative Total Return achieved is at least: | | | | | 18% | | | | | | 6% | | | | | | 12% | | |
• 50% will be earned if cumulative Total Return achieved is: | | | | | —% | | | | | | —% | | | | | | —% | | |
• 0% will be earned if cumulative Total Return achieved is less than: | | | | | —% | | | | | | —% | | | | | | —% | | |
• a percentage from 50% to 100% calculated by linear interpolation will be earned if the cumulative Total Return achieved is between: | | | 0% – 18% | | | 0% – 6% | | | 0% – 12% | |
Performance Level (% of Absolute TSR LTIP Units Earned) | | | Absolute TSR | | | Number of Absolute TSR LTIP Units Earned | | |||||||||
Below Threshold | | | | | —% | | | | Less than 24% | | | | | — | | |
Threshold | | | | | 25% | | | | 24% | | | | | 319,366 | | |
Target | | | | | 50% | | | | 30% | | | | | 638,733 | | |
Maximum | | | | | 100% | | | | 36% or higher | | | | | 1,277,465 | | |
Performance Level (% of Relative TSR LTIP Units Earned) | | | Relative TSR Excess | | | Number of Absolute TSR LTIP Units Earned | | |||||||||
Below Threshold | | | | | —% | | | | Less than -600 basis points | | | | | — | | |
Threshold | | | | | 25% | | | | -600 basis points | | | | | 319,366 | | |
Target | | | | | 50% | | | | — basis points | | | | | 638,733 | | |
Maximum | | | | | 100% | | | | +600 basis points | | | | | 1,277,465 | | |