Company: OLP
Filing Date: 2025-04-15
Form Type: DEF 14A
Source: 0001140361-25-013961
Chunk: 28

Company: ONE LIBERTY PROPERTIES INC
Filing Date: 2025-04-15
Form: DEF 14A
Chunk 28
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viii) the recommendations of the Chairman and/or Vice Chairman of the board and other senior executive officers. Base salary is generally determined the month before the beginning of the calendar year in which such base salary is to take effect. Part-time Executive Officers: Our part-time officers are compensated by Majestic and/or its affiliates. The annual fee paid to Majestic is approved by the audit and/or compensation committee(s). Other than equity award determinations, our board and its committeesare not involved in determining the compensation of these officers. Bonus Full-time Executive Officers: We provide the opportunity for our full-time officers to earn an annual cash bonus. We provide this opportunity both to reward our personnel for past performance and to motivate and retain them. We recognize that annual bonuses are almost universally provided by our competitors. In view of the fact that only two of our named executive officers devote their full-time to our affairs, annual cash bonuses for such named executive officers are recommended on a case-by-case basis by our chairman of the board and/or vice chairman to the compensation committee. Our performance-based cash bonus program, which we refer to as the “Performance-based Bonus Program,” provides that cash bonuses are to be based on funds from operations, adjusted funds from operations, tenant occupancy rate, the overall management of our portfolio and discretionary factors. Discretionary factors include total revenues, rental income, net income, dividends paid to stockholders, investor relations activities, and subjective considerations. No specific quantitative targets are established in advance of the applicable year for which a bonus will be paid and the amount of such bonus is based on highly subjective considerations. These bonuses are generally determined at the end of the year for which such bonus is awarded and is generally paid in the beginning of the following year. Part-time Executive Officers: We do not provide any cash bonuses to our chairman, vice chairman or other part-time named executive officers and our board and its committeesare not involved in determining the bonuses paid to part-time officers.

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Long-term Equity and Long-term Equity Incentive Awards We provide the opportunity for our full-time and part-time officers to receive long-term equity ( i.e.,restricted stock) and long-term equity incentive awards ( i.e.,RSUs). These compensation programs are designed to recognize responsibilities, reward performance, motivate future performance, align the interests of our officers with those of our stockholders and retain our officers. The compensation committee makes determinations with respect to the grant of equity awards for all our officers and employees except to the extent that it, in accordance