Company: OLP
Filing Date: 2025-04-15
Form Type: DEF 14A
Source: 0001140361-25-013961
Chunk: 27

Company: ONE LIBERTY PROPERTIES INC
Filing Date: 2025-04-15
Form: DEF 14A
Chunk 27
---
 more of Fredric H. Gould, Matthew J. Gould or Jeffrey A. Gould, for services rendered to such entities. Components of Executive Compensation Full-time Executive Officers The principal elements of our compensation program for our full-time officers are:

| • | base salary; |

| • | annual cash bonus; |

20

TABLE OF CONTENTS

| • | long-term equity awards in the form of restricted stock and long-term equity incentive awards in the form of RSUs; and |

| • | benefits and perquisites (e.g., contributions to our defined contribution plan, additional disability insurance, an automobile allowance and automobile maintenance and repairs). |

Base salary and annual bonus are cash-based, while long-term equity awards and long-term equity incentive awards consist of restricted stock awards and RSUs, respectively. In determining compensation, the compensation committee does not have a specific allocation goal between cash and equity-based compensation though the committee generally desires that base salary and cash bonuses (except to the extent based on the attainment of performance criteria), should decrease over time as a percentage of total compensation and long-term equity and other incentive awards should increase as a percentage of total compensation. Part-time Executive Officers In 2024, except for the $325,512 and $130,205 we paid the chairman and vice chairman of our board, respectively, the only form of direct compensation we provided our part-time executive officers was the granting of long-term equity and equity incentive awards in the form of restricted stock and RSUs, respectively. For services rendered to us, our part-time executive officers are compensated by Majestic, which was paid $3,322,000 (excluding $336,000 as reimbursement for our share of direct office expenses) in 2024 pursuant to the C&SA. Seven executive officers are compensated by Majestic for providing services to us on a part-time basis. Base Salary Base salary is the basic, fixed form of compensation for the job an officer performs and provides each officer with a guaranteed annual income. Full-time Executive Officers: Any increase in base salary is determined on a case-by-case basis, is not formula based and is based upon, among other considerations, (i) our performance in the preceding year, (ii) such officer’s current base salary, (iii) amounts paid by other similarly situated REITs for officers performing substantially similar functions, (iv) years of service, (v) job responsibilities, (vi) the individual’s performance, (vii) the cost of retaining talented executives in the New York City region, and (