WSR Amends 10-K to Detail Governance, Executive Comp
Whitestone REIT (WSR) filed an amended 10-K to incorporate information previously intended for its 2026 Annual Meeting proxy statement. The filing details the biographies of its trustees and executive officers, outlining their experience and committee roles. It also provides a comprehensive overview of the company's corporate governance practices and a review of its 2025 executive compensation structure, highlighting strong financial performance metrics that align with pay-for-performance incentives.
Key Highlights
- 2025 Revenues increased to $160.9 million from $154.3 million in 2024.
- 2025 Net Income attributable to common shareholders rose to $49.9 million ($0.95/share) from $36.9 million ($0.72/share) in 2024.
- 2025 Funds from Operations (FFO) increased to $54.6 million from $50.7 million in 2024.
- 2025 Same-Store Net Operating Income (NOI) grew to $97.5 million from $93.8 million in 2024.
- CEO David K. Holeman's 2025 base salary increased 5% to $525,000.
- CFO J. Scott Hogan's 2025 base salary increased 10% to $363,000.
- 70% of NEOs' 2025 targeted pay was 'at risk' and performance-based.
- Board has an independent Chair and separate CEO; 5 of 6 trustee nominees are independent.
Price Impact
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