Company: MMI
Filing Date: 2025-03-19
Form Type: DEF 14A
Source: 0001193125-25-057887
Chunk: 33

Company: Marcus & Millichap, Inc.
Filing Date: 2025-03-19
Form: DEF 14A
Chunk 33
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 we discuss our compensation philosophy and executive compensation program, as well as describe and analyze our compensation actions and decisions for our named executive officers for the fiscal year ended December 31, 2024 (each, an “NEO”). For 2024, our NEOs and their designated titles are as follows:

| ◾ | Hessam Nadji, President and CEO |

| ◾ | Steven F. DeGennaro, Executive Vice President and Chief Financial Officer |

| ◾ | Richard Matricaria, Executive Vice President and Chief Operating Officer, Western Division |

| ◾ | John David Parker, Executive Vice President and Chief Operating Officer, Eastern Division |

| ◾ | Gregory A. LaBerge, Senior Vice President, Chief Administrative Officer |

2024 Business Overview We remained resilient and continued to make progress toward our long-term goals despite significant market headwinds experienced across the U.S. commercial real estate industry last year. According to MSCI, 2024 U.S. commercial real estate transaction activity declined by an estimated 3% compared to the prior year, driven by persistent elevated interest rates, sustained lender caution, and uncertain economic prospects. In this environment, our team delivered revenue of $696 million, an increase of 8% year-over-year, and a net loss of $12 million in 2024. Our earnings were positively impacted by proactive expense management. We also continued to invest capital in top talent acquisition and retention, technological innovations and expanding our service offerings to our sales force and clients. We believe these strategic investments will allow us to leverage the downturn to our advantage, lead in the recovery, and enhance the long-termgrowth profile of the Company. We ended the year with $394 million in cash, cash equivalents, restricted cash, and marketable debt securities, available-for-sale, and no debt. In 2024, our management team adopted a range of strategic initiatives to minimize the impact of the market dislocation while still strengthening the MMI platform. We implemented cost control measures aimed at reducing the interim impact of lower revenue while continuing to invest in talent development essential to long-termgrowth. Focusing on our people, we continued to provide broker training, retention of top producers and the recruitment of experienced professionals and teams. We prioritized our ability to serve client needs by enhancing our marketing efforts, further integrating our auction teams into the sales process and leveraging technology. We further elevated our brand with relevant and topical client webcasts, industry-leading market research, and highly visible appearances in the national media as well as at industry