Sl Green Realty Corp · NYSE:SLG
Sl Green Realty — Proxy Contest (May 2018)
12 slides from Sl Green Realty's proxy contest presentation, May 17, 2018
Slide 1: Executive Summary
1 EXECUTIVE SUMMARY Business and Performance SL Green is a fully integrated REIT and the #1 owner of office property in Manhattan; we differentiate ourselves from peers by our active and engaged business strategy, operations on multiple platforms, and NYC-focused business model Our success at shareh
Slide 2: Our Compensation Philosophy
OUR COMPENSATION PHILOSOPHY REITs are extremely competitive for executive talent, particularly in NYC where public and private companies compete for a relatively small number of top executives, and where talent is highly compensated relative to other regions Our executive management team has demonst
Slide 3: Shareholder Engagement and Responsiveness
SHAREHOLDER ENGAGEMENT AND RESPONSIVENESS In response to the 2017 advisory vote on executive compensation, our Compensation Committee and our management team initiated an expanded stockholder engagement program to solicit stockholder perspectives on our executive compensation programs We contacted s
Slide 4: Components of 2017 CEO Compensation and Changes for 2018
COMPONENTS OF 2017 CEO COMPENSATION AND CHANGES FOR 2018 Base Salary Reflects the scope of duties and responsibilities taking into account the competitive market compensation paid by other companies Cash Bonus Payouts are based on performance measured against: Equity Bonus Equity award determined by
Slide 5: Components of CEO Compensation Under New Employment Agreement
COMPONENTS OF CEO COMPENSATION UNDER NEW EMPLOYMENT AGREEMENT The Compensation Committee significantly restructured our CEO’s compensation, as governed by his new employment agreement, which will become effective in January 2019 This new compensation composition is simplified and enhances the transp
Slide 6: Pay Outcomes Demonstrate Pay-for-Performance Alignment
PAY OUTCOMES DEMONSTRATE PAY-FOR-PERFORMANCE ALIGNMENT Our recent pay outcomes demonstrate that our compensation program closely links pay for performance Goals and targets set by the Compensation Committee are rigorous and challenging, and tied to the long-term strategy set by the Board and managem
Slide 7: Compensation Structure and NEO Stock Ownership
COMPENSATION STRUCTURE AND NEO STOCK OWNERSHIP Pay for performance and create alignment with stockholders Include robust hurdles in our incentive plans Pay a majority of total compensation for our CEO and named executive officers in equity Follow robust stock ownership guidelines for our directors a
Slide 8: SL Green at a Glance
SL GREEN AT A GLANCE #1 Owner of Office Property in Manhattan $1.8 Billion Combined Revenues Manhattan Office Ownership1,4 Largest property owner among public and private companies 1 Data as of 12/31/2017 2 Note: Chart not to scale 3 Includes debt and preferred equity investments and suburban proper
Slide 9: How SL Green Is Differentiated from Peers and Competitors
HOW SL GREEN IS DIFFERENTIATED FROM PEERS AND COMPETITORS Aggressively Buying and Selling at Opportunistic Points in Market Cycles “Sharp Shooter” Market Expertise Disciplined, Value-Add Approach to Real Estate Investing Best-in-Class, Long Tenured Management Team Structural and Technical Expertise
Slide 10: Demonstrated Success and Shareholder Value Creation
DEMONSTRATED SUCCESS AND SHAREHOLDER VALUE CREATION CAGR 6.9% (1997 – 2017) SLG FFO Per Share Growth Compared to Peers $1.6B of Strategic Asset Sales Generated $1.1B of Net Proceeds That Were Committed to Opportunistic Stock Repurchases Leased Approximately 1.5 Million Square Feet of Office Space in
Slide 11: Appendix
APPENDIX Notes: Funds from Operations Funds from Operations, or FFO, is a widely recognized non-GAAP measure of REIT performance. We compute FFO in accordance with standards established by the National Association of Real Estate Investment Trusts, or Nareit, which may not be comparable to FFO report
Slide 12: Appendix
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