Company: VRE
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0000924901-25-000035
Chunk: 51

Company: Veris Residential, Inc.
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 51
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 select multifamily properties, to be sold during 2025 and 2026, with proceeds used to fund up to a $100 million share repurchase program and the balance used to repay debt, targeting leverage below 9x Net-Debt-to-EBITDA.

CONTINUED OPERATIONAL OUTPERFORMANCE

• The Company grew its Core FFO per share to $0.60, an increase of 13% compared to last year.

• The 7,621 unit Same Store portfolio, which was 93.9% occupied as of December 31, 2024 achieved a blended net rental growth rate of 4.0% for the year, recording the 14th consecutive quarter of sector leading operational performance.

• The Company achieved Normalized Same Store NOI growth of 7.9% NOI, driven by strong revenue growth and effective expense mitigation measures and further improved NOI margin to 67% from 65% in 2023 and 62% in 2022.

#### STOCKHOLDER SAY-ON-PAY ADVISORY VOTE
In 2024, we sought a stockholder say-on-pay advisory vote regarding executive compensation, and approximately 96.1% of the votes cast (excluding abstentions) were in favor of our executive compensation. The Compensation Committee viewed this approval rate as being strongly supportive of the Company’s general approach to executive compensation. The Compensation Committee believes its compensation actions in 2024 aligned the Company’s executive compensation plans with stockholder expectations. We most recently sought a stockholder advisory vote regarding the frequency of the say-on-pay advisory vote in 2023 with stockholders continuing to support one year as the frequency for holding future advisory votes on the compensation of the Company’s named executive officers. We currently intend to continue to seek an annual stockholder say-on-pay advisory vote regarding executive compensation and to consider stockholder feedback on our compensation program when making future compensation decisions. In 2024, we continued our stockholder outreach program under which we provide opportunities for our investors to provide their perspectives on our executive compensation.

#### 2024 COMPENSATION PROGRAM OVERVIEW
The key objectives of our executive compensation program remain unchanged:

• Attracting, motivating and retaining key talent;

• Tying compensation to the achievement of key short and long-term objectives, including specific strategic performance goals and individual performance in the case of the annual cash incentive program and absolute and relative TSR in the case of the long-term incentive program; and

• Aligning management’s interests with those of stockholders