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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 | |
Edward G. Rendell | | | I | | | 74 | | | Independent Director, Compensation Committee Chair | | | 2012 | | | 2018 | | | 2021 | |
Abby M. Wenzel | | | I | | | 58 | | | Independent Director | | | 2012 | | | 2018 | | | 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 | |
Directors with Terms expiring at the Annual Meeting/Nominees | | | Class | | | Age | | | Position | | | Director Since | | | Current Term Expires | | | Expiration of Term For Which Nominated | | ||||||||||||
James L. Nelson | | | III | | | | | 70 | | | | Director, Chief Executive Officer and President | | | | | 2017 | | | | | | 2020 | | | | | | 2023 | | |
Edward M. Weil, Jr. | | | III | | | | | 52 | | | | Director | | | | | 2017 | | | | | | 2020 | | | | | | 2023 | | |
Continuing Directors | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Lee M. Elman | | | II | | | | | 83 | | | | Independent Director, Conflicts Committee Chair | | | | | 2016 | | | | | | 2022 | | | | | | — | | |
P. Sue Perrotty | | | II | | | | | 66 | | | | Non-Executive Chair, Audit Committee Chair, Nominating and Corporate Governance Committee Chair | | | | | 2015 | | | | | | 2022 | | | | | | — | | |
Edward G. Rendell | | | I | | | | | 76 | | | | Independent Director, Compensation Committee Chair | | | | | 2012 | | | | | | 2021 | | | | | | — | | |
Abby M. Wenzel | | | I | | | | | 59 | | | | Independent Director | | | | | 2012 | | | | | | 2021 | | | | | | — | | |
Executive Officers (not listed above) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Christopher J. Masterson | | | N/A | | | | | 37 | | | | 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 | | | | | $ | 109,500 | | | | $ | 65,000(3) | | | | | — | | | | | — | | | | | — | | | | | — | | | | $ | 174,500 | | | ||||||||||||||
William M. Kahane(4) | | | $ | — | | | | $ | — | | | | | — | | | | | — | | | | | — | | | | $ | — | | | | $ | — | | | ||||||||||||||||||||||||||||||||||||||||||||||||||
James L. Nelson | | | $ | 33,927(5) | | | | $ | — | | | | | — | | | | | — | | | | | — | | | | $ | — | | | | $ | 33,927 | | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | ||||||||||||||
P. Sue Perrotty | | | $ | 182,500 | | | | $ | 117,500(6) | | | | | — | | | | | — | | | | | — | | | | $ | 48,017 | | | | $ | 348,017 | | | | | $ | 168,750 | | | | $ | 117,500(4) | | | | | — | | | | | — | | | | | — | | | | | — | | | | $ | 286,250 | | | ||||||||||||||
Edward G. Rendell | | | $ | 123,500 | | | | $ | 65,000(3) | | | | | — | | | | | — | | | | | — | | | | $ | 37,770 | | | | $ | 226,270 | | | | | $ | 109,500 | | | | $ | 65,000(3) | | | | | — | | | | | — | | | | | — | | | | | — | | | | $ | 174,500 | | | ||||||||||||||
Edward M. Weil, Jr.(7) | | | $ | — | | | | $ | — | | | | | — | | | | | — | | | | | — | | | | $ | — | | | | $ | — | | | ||||||||||||||||||||||||||||||||||||||||||||||||||
Edward M. Weil, Jr. | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | ||||||||||||||||||||||||||||||||||||||||||||||||||
Abby M. Wenzel | | | $ | 127,500 | | | | $ | 65,000(3) | | | | | — | | | | | — | | | | | — | | | | $ | 37,770 | | | | $ | 230,270 | | | | | $ | 110,250 | | | | $ | 65,000(3) | | | | | — | | | | | — | | | | | — | | | | | — | | | | $ | 175,250 | | |
Beneficial Owner(1) | | | 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% | | |
James L. Nelson | | | | | 8,000 | | | | | | * | | |
Christopher J. Masterson | | | | | — | | | | | | — | | |
Edward M. Weil, Jr.(5) | | | | | 22,018 | | | | | | * | | |
Lee M. Elman(6) | | | | | 7,150 | | | | | | * | | |
P. Sue Perrotty(7) | | | | | 29,181 | | | | | | * | | |
Gov. Edward G. Rendell(8) | | | | | 24,608 | | | | | | * | | |
Abby M. Wenzel(9) | | | | | 24,546 | | | | | | * | | |
Scott J. Bowman(10) | | | | | 42,330 | | | | | | * | | |
Nicholas Radesca(11) | | | | | — | | | | | | — | | |
All directors and executive officers as a group (seven persons) | | | | | 115,503 | | | | | | * | | |
Beneficial Owner(1) | | | Number of Shares Beneficially Owned | | | Percent of Class | | ||||||
Blackrock, Inc.(2) | | | | | 14,964,424 | | | | | | 16.7% | | |
The Vanguard Group(3) | | | | | 13,588,136 | | | | | | 15.2% | | |
James L. Nelson | | | | | 14,000 | | | | | | * | | |
Christopher J. Masterson | | | | | — | | | | | | — | | |
Edward M. Weil, Jr.(4) | | | | | 22,018 | | | | | | * | | |
Lee M. Elman(5) | | | | | 7,367 | | | | | | * | | |
P. Sue Perrotty(6) | | | | | 26,906 | | | | | | * | | |
Governor Edward G. Rendell(7) | | | | | 22,161 | | | | | | * | | |
Abby M. Wenzel(8) | | | | | 22,099 | | | | | | * | | |
All directors and executive officers as a group (seven persons) | | | | | 114,551 | | | | | | * | | |
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 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 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 | | |