Summary
Realty Income Corp. (O) announced a key executive appointment in an 8-K filing dated February 20, 2019. Effective February 13, 2019, Michael R. Pfeiffer was appointed Chief Administrative Officer, in addition to his existing roles as Executive Vice President, General Counsel, and Secretary. This promotion reflects an expansion of his responsibilities within the company. Mr. Pfeiffer's compensation for this expanded role in 2019 is set at a total annual target direct compensation of $2.1 million, representing an increase from $1.8 million in 2018. A significant portion of this compensation, $819,000, is tied to performance shares under the company's long-term incentive program, aligning his rewards with the company's performance. This filing also notes that detailed biographical and background information for Mr. Pfeiffer can be found in the company's 2018 proxy statement.
Key Highlights
- 1Michael R. Pfeiffer appointed Chief Administrative Officer, effective February 13, 2019.
- 2Mr. Pfeiffer will continue to hold his existing roles: Executive Vice President, General Counsel, and Secretary.
- 3Total annual target direct compensation for Mr. Pfeiffer in 2019 is $2.1 million, an increase from $1.8 million in 2018.
- 4A substantial component of Mr. Pfeiffer's 2019 compensation ($819,000) is in performance shares under the long-term incentive program.
- 5The company issued a press release on February 13, 2019, announcing this appointment.
- 6Biographical and background information on Mr. Pfeiffer is available in the company's 2018 proxy statement.