Victor Coleman, CEO of Hudson Pacific Properties, earned approximately $25 million in 2024, a stark increase from $8 million in 2023, despite the company facing a net loss of $364 million. Coleman’s unchanged base salary of $1 million was supplemented with substantial cash bonuses and stock awards aimed at retention and aligning with stockholder interests. This increase in compensation has raised concerns about the disparity between executive pay and the company’s poor financial performance, particularly as it reported losses due to asset sales and a slowdown in the entertainment and office sectors. A comparison of C-suite compensation in LA showed no other firm matched this unusual scenario.
Hudson Pacific Properties CEO Victor Coleman received approximately $25 million in compensation for 2024, despite the company suffering a net loss of $364 million.
The disparity in compensation received by Coleman in 2024 compared to a loss-making year illustrates a significant misalignment between executive pay and company performance.
The 2024 proxy statement reveals significant stock awards valued at around $22 million, granted to Coleman amid faltering company financials.
C-suite pay comparison among Los Angeles based real estate firms showed no other company exhibited such a stark contrast in compensation versus financial results as Hudson Pacific.
#executive-compensation #real-estate #corporate-governance #financial-performance #hudson-pacific-properties
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