Company: INRE
Filing Date: 2025-09-24
Form Type: DEF 14A
Source: 0001193125-25-214755
Chunk: 26

Company: Inland Real Estate Income Trust, Inc.
Filing Date: 2025-09-24
Form: DEF 14A
Chunk 26
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 of Illinois and holds a bachelor’s degree in political science and French from the University of Notre Dame and a J.D. from Loyola University Chicago School of Law.

This Compensation Discussion and Analysis (“CD&A”) outlines our executive compensation awarded to the officers set forth in the summary compensation tables included herein, referred to as our “named executive officers” or “NEOs” during the fiscal year ended December 31, 2024. We are externally-managed by our Business Manager and do not employ any of our NEOs. Mr. Zalatoris is neither an employee of the Company nor the Business Manager or its affiliates. He serves as our president and chief executive officer, pursuant to an agreement dated as of January 19, 2024, as amended (the “Agreement”). Under the Agreement, we pay Mr. Zalatoris an annual fee (payable pro rata monthly) equal to $350,000 per year, but, as described below, we net this fee against amounts due under the agreement we have with our Business Manager, which governs the amounts we are required to pay to the Business Manager. Mr. Zalatoris is not paid any incentive compensation or granted any compensation in the form of restricted stock or options by the Company. Because all amounts paid to Mr. Zalatoris reduce, on a dollar-for-dollar basis, amounts due to the Business Manager, we do not incur or pay any “net” compensation. The amount payable to Mr. Zalatoris was agreed upon between Mr. Zalatoris and representatives of the Business Manager and subsequently approved by our independent directors upon the Business Manager agreeing to the dollar-for-dollar offset noted above. The compensation committee did not separately evaluate the compensation amount including by benchmarking against the compensation paid by similar entities.

The compensation committee is responsible for reviewing any additional compensation that we may pay to Mr. Zalatoris or any of our other executive officers. The compensation committee is also responsible for approving any stock-based awards that may be made in the future to Mr. Zalatoris or any of our other executive officers. See “Board of Directors and Corporate Governance Principles – Committees of our Board of Directors – Compensation Committee” for additional discussion.

Our other executive officers are officers of IREIC or one or more of its affiliates and are compensated by those entities, in part, for services rendered to us. We do not have agreements with any of our executive officers regarding their compensation and did not otherwise determine the compensation earned by, or paid