Jeremy Banoff recently shared his perspectives over a video interview in conjunction with Nareit’s REITwise: 2023 Law, Accounting & Finance Conference held March 21-23 in Phoenix, Arizona.
Banoff spoke on a panel at REITwise looking at corporate governance in a changing environment. He noted that REIT boards have evolved a great deal over the last few years, and their remit could now be described as “everything, everywhere, all at once.” Banoff also commented on recent SEC compensation developments involving pay for performance and clawback rules.
Turning to REIT boards and compensation matters, Banoff pointed out that the focus is now more on strategizing and guidance for the current year, given the slowdown in growth and a shift toward expense control. While large layoffs such as those seen in the tech sector are unlikely, when it comes to crafting REIT compensation programs, “I think there is a tightening that is occurring and that obviously impacts ultimately the metrics and the goals that you set out.”
To view the full interview, visit here.
For additional information, contact Jeremy Banoff.