Company: MMI
Filing Date: 2025-03-19
Form Type: DEF 14A
Source: 0001193125-25-057887
Chunk: 64

Company: Marcus & Millichap, Inc.
Filing Date: 2025-03-19
Form: DEF 14A
Chunk 64
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 six months of Mr. DeGennaro’s base salary and 50% of the annual cash incentive award that Mr. DeGennaro earned in 2023. |

| (3) | Represents the sum of 12 months of the executive’s base salary and 2024 target annual incentive opportunity as the Company’s change in control policy provides for cash severance equal to the sum of 12 months’ base salary and the lesser of the target annual incentive opportunity for the year of termination or the year immediately preceding the year of termination. |

Marcus & Millichap, Inc. | 2025 Proxy Statement | Page 60

Compensation

CEO Pay Ratio

The annual total compensation of Hessam Nadji, our CEO, was $4,568,174 in 2024, as reflected in the Summary Compensation Table above. Based on reasonable estimates, the median annual total compensation of all employees of the Company and its subsidiaries, excluding our CEO, was $90,000 for 2024. Accordingly, for 2024, the ratio of the annual total compensation of our CEO to the median of the annual total compensation of all our other employees was 51 to 1. Most of our investment sales professionals are classified as independent contractors under state and U.S. Internal Revenue Service guidelines, so they are not included in the employee population, which would have had the effect of decreasing the pay ratio.

To identify the “median employee” from our employee population, we collected the total gross compensation earned during the 12-month period ending November 30, 2024 by each person who was employed by the Company or one of its subsidiaries on November 30, 2024, other than those persons who were employed in Canada. We also annualized the salary of permanent employees who were employed on November 30, 2024, but commenced employment after December 1, 2023. As permitted by SEC rules, we excluded from our analysis all 43 of our employees who resided in Canada on November 30, 2024, which represented less than 5% of our employee population as a whole on such date. Our employee population on November 30, 2024, prior to taking into consideration this exclusion, consisted of 893 individuals. Our employee population on November 30, 2024, after taking into consideration this exclusion, consisted of 850 individuals.

We identified and calculated the elements of the median employee’s annual total compensation for 2024 in accordance with the requirements of Item 402