Company: CIO
Filing Date: 2025-03-12
Form Type: DEF 14A
Source: 0001193125-25-052437
Chunk: 35

Company: City Office REIT, Inc.
Filing Date: 2025-03-12
Form: DEF 14A
Chunk 35
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 NEOs. In comparison, the Dow Jones U.S. Real Estate Office Index generated a negative 31.6% total return during such period. Compensation Philosophy and Objectives Executive Compensation Principles We have established our compensation program to achieve various short and long-term objectives. Our overriding philosophy is to establish lower than average base salaries but provide our NEOs the ability to earn higher than average total remuneration through demonstrated performance, thereby better aligning their interests with those of our stockholders. Our compensation program includes (i) a base salary component, (ii) an annual cash incentive compensation potential, and (iii) a long-term equity incentive potential. The Compensation Committee judges performance based on detailed criteria (the “Performance Objectives”) that are established at the beginning of the year and are discussed elsewhere in this Proxy Statement under the heading “—2024 Performance Objectives.” The compensation program for our executives is designed to achieve the following core objectives:

| • |     | Attract and retain executives capable of performing at the highest levels of our industry; |

| • |     | Create and maintain a performance-focused culture, by rewarding Company and individual performance based upon objective, predetermined metrics; |

| • |     | Align the interests of our executives and stockholders by motivating executives to achieve key corporate goals and objectives that should enhance stockholder value; |

| • |     | Ensure that unsatisfactory performance has consequences and will result in materially reduced incentive compensation; |

| • |     | Create an alignment between our executives’ compensation and the enhancement of our corporate sustainability initiatives over time; |

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| • |     | Encourage teamwork and cooperation while recognizing individual contributions by linking variable compensation to both corporate and individual performance; and |

| • |     | Motivate our executives to manage our business to meet and appropriately balance our short and long-term objectives. |

Compensation Best Practices The Compensation Committee and management periodically review the compensation and benefit programs for executives and other employees to align them with the core objectives discussed above. Additionally, we compare both compensation and Company performance against peer companies when evaluating the appropriateness of our compensation. We have implemented a number of measures in an effort to align the interests of the Company’s NEOs with those of our stockholders, while also driving performance and achievement of long-term goals. Below we highlight our compensation and governance practices that support these principles. What we do:

| ✓ | Utilize a compensation structure that generally uses base salaries set below the comparable peer group average with the potential to earn higher than average total remun