Company: FRT-PC
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001193125-25-066328
Chunk: 17

Company: FEDERAL REALTY INVESTMENT TRUST
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 17
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| Federal Realty  2025 Proxy Statement 21 |

setting performance metrics for incentive compensation plans, establishing expectations for individual NEO performance and determining payouts of incentive compensation for completed performance periods. In setting NEO compensation, the Compensation Committee considers competitive market data for similar jobs and job levels in the market, Company performance measured against financial metrics and targets established by the Compensation Committee, general business climate and each individual’s experience, knowledge, skills and personal contributions.

| ➣ | ROLE OF THE COMPENSATION COMMITTEE |

The Compensation Committee approves all final compensation arrangements for our NEOs including final payouts under our incentive compensation programs. It also oversees an annual evaluation of our CEO’s performance by all of our independent Trustees.

| ➣ | ROLE OF MANAGEMENT |

Our CEO makes recommendations to the Compensation Committee regarding compensation for our NEOs (other than himself) taking into account Company performance, each executive’s personal contributions to the Company’s accomplishments and relevant market data.

| ➣ | ROLE OF INDEPENDENT COMPENSATION CONSULTANT |

The Compensation Committee retains consultants periodically to assist with setting compensation. No consultant was used in connection with the compensation of our NEOs for 2024. 2024 C OMPENSATIOND ECISIONS

| ➣ | CHANGES FOR 2024 |

In addition to our current NEOs, Jeffrey S. Berkes, age 61, served as our President and Chief Operating Officer during 2024 and was an NEO during 2024. Effective December 31, 2024, the position of Chief Operating Officer of the Company was eliminated and as a result, Mr. Berkes was terminated without cause effective as of that date. A complete discussion of amounts paid to Mr. Berkes in connection with his termination is included in the “Potential Payments on Termination of Employment and Change-in-Control”section below. There were no changes made to the target compensation levels for any of our NEOs in 2024 other than Mr. Guglielmone. After reviewing market compensation levels for Chief Financial Officers in the REIT industry, the Compensation Committee increased Mr. Guglielmone’s long-term equity target to $1.5 million resulting in a total target compensation level for Mr. Guglielmone for 2024 of $2,650,000.

| ➣ | SETTING 2024 TARGET COMPENSATION |

The Compensation Committee determined target compensation for each NEO by considering numerous individual factors for each NEO, including job responsibilities and skill sets, performance in