Ladder Capital Management

Management criteria checks 3/4

Ladder Capital's CEO is Brian Harris, appointed in Oct 2008, has a tenure of 16.08 years. total yearly compensation is $14.98M, comprised of 6.7% salary and 93.3% bonuses, including company stock and options. directly owns 6.15% of the company’s shares, worth €88.18M. The average tenure of the management team and the board of directors is 6.6 years and 9.4 years respectively.

Key information

Brian Harris

Chief executive officer

US$15.0m

Total compensation

CEO salary percentage	6.7%
CEO tenure	16.1yrs
CEO ownership	6.1%
Management average tenure	6.6yrs
Board average tenure	9.4yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Brian Harris's remuneration changed compared to Ladder Capital's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	US$96m
Jun 30 2024	n/a	n/a	US$100m
Mar 31 2024	n/a	n/a	US$95m
Dec 31 2023	US$15m	US$1m	US$101m
Sep 30 2023	n/a	n/a	US$141m
Jun 30 2023	n/a	n/a	US$139m
Mar 31 2023	n/a	n/a	US$146m
Dec 31 2022	US$13m	US$1m	US$142m
Sep 30 2022	n/a	n/a	US$110m
Jun 30 2022	n/a	n/a	US$100m
Mar 31 2022	n/a	n/a	US$75m
Dec 31 2021	US$11m	US$1m	US$57m
Sep 30 2021	n/a	n/a	US$18m
Jun 30 2021	n/a	n/a	US$16m
Mar 31 2021	n/a	n/a	US$1m
Dec 31 2020	US$10m	US$1m	-US$14m
Sep 30 2020	n/a	n/a	US$38m
Jun 30 2020	n/a	n/a	US$48m
Mar 31 2020	n/a	n/a	US$85m
Dec 31 2019	US$17m	US$1m	US$123m
Sep 30 2019	n/a	n/a	US$106m
Jun 30 2019	n/a	n/a	US$145m
Mar 31 2019	n/a	n/a	US$151m
Dec 31 2018	US$17m	US$1m	US$180m
Sep 30 2018	n/a	n/a	US$192m
Jun 30 2018	n/a	n/a	US$149m
Mar 31 2018	n/a	n/a	US$133m
Dec 31 2017	US$15m	US$1m	US$95m

Compensation vs Market: Brian's total compensation ($USD14.98M) is above average for companies of similar size in the German market ($USD1.64M).

Compensation vs Earnings: Brian's compensation has been consistent with company performance over the past year.

CEO

Brian Harris (64 yo)

16.1yrs

Tenure

US$14,983,943

Compensation

Mr. Brian Richard Harris serves as the Chief Executive Officer of Ladder Capital Finance LLC. Mr. Harris has been the Chief Executive Officer of Ladder Capital Securities LLC since its formation in October...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Brian Harris	Founder	16.1yrs	US$14.98m	6.15% € 88.2m
Pamela McCormack	Founder	16.1yrs	US$5.93m	0.78% € 11.2m
Robert Perelman	Founder & Head of Asset Management	16.1yrs	US$2.11m	0.28% € 3.9m
Paul Miceli	Chief Financial Officer	3.7yrs	US$2.16m	0.17% € 2.5m
Kelly Porcella	Chief Administrative Officer	8.7yrs	US$1.70m	0.16% € 2.3m
Anthony Esposito	Chief Accounting Officer & Principal Accounting Officer	2.5yrs	no data	0.033% € 478.7k
Michael Cafaro	Chief Technology Officer	1.8yrs	no data	no data
Michelle Wallach	Chief Compliance Officer	no data	no data	no data
Adam Siper	Head of Origination	7.6yrs	no data	no data
Michael Scarola	Chief Credit Officer	no data	no data	no data
Craig Robertson	Head of Underwriting & Loan Portfolio Manager	5.6yrs	no data	no data
Ed Peterson	Head of CMBS Trading & Co-Head of Securitization	5.6yrs	no data	no data

6.6yrs

Average Tenure

49.5yo

Average Age

Experienced Management: LD1A's management team is seasoned and experienced (6.6 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Brian Harris	Founder	11.5yrs	US$14.98m	6.15% € 88.2m
Pamela McCormack	Founder	5.4yrs	US$5.93m	0.78% € 11.2m
Alan Fishman	Independent Non-Executive Chairman of the Board	11.5yrs	US$376.07k	0.97% € 13.9m
Douglas Durst	Independent Director	10.8yrs	US$201.07k	2.82% € 40.4m
Jeffrey Steiner	Independent Director	6.3yrs	US$176.07k	0.032% € 453.5k
David Weiner	Independent Director	5.4yrs	US$176.07k	0.028% € 402.0k
Mark Alexander	Independent Director	9.4yrs	US$191.07k	0.089% € 1.3m

9.4yrs

Average Tenure

63yo

Average Age

Experienced Board: LD1A's board of directors are considered experienced (9.4 years average tenure).

Ladder Capital Management

Management criteria checks 3/4

Key information

Recent management updates

Founder & Head of Asset Management recently sold €274k worth of stock

Founder recently sold €554k worth of stock

Founder recently sold €1.1m worth of stock

Ladder Capital Corp, Annual General Meeting, Jun 06, 2024

Insufficient new directors

Insufficient new directors

Recent updates

Third quarter 2024 earnings released: EPS: US$0.22 (vs US$0.25 in 3Q 2023)

Ladder Capital Corp to Report Q3, 2024 Results on Oct 24, 2024

Second quarter dividend of US$0.23 announced

Founder & Head of Asset Management recently sold €274k worth of stock

Ladder Capital Corp Announces Third Quarter 2024 Dividend, Payable on October 15, 2024

Founder recently sold €554k worth of stock

Founder recently sold €1.1m worth of stock

Second quarter 2024 earnings released: EPS: US$0.26 (vs US$0.23 in 2Q 2023)

Ladder Capital Corp to Report Q2, 2024 Results on Jul 25, 2024

Now 19% overvalued after recent price rise

Now 20% overvalued after recent price rise

First quarter dividend of US$0.23 announced

Ladder Capital Corp Announces Second Quarter 2024 Dividend, Payable on July 15, 2024

Now 21% overvalued after recent price rise

First quarter 2024 earnings released: EPS: US$0.13 (vs US$0.18 in 1Q 2023)

Ladder Capital Corp, Annual General Meeting, Jun 06, 2024

Ladder Capital Corp to Report Q1, 2024 Results on Apr 25, 2024

Fourth quarter dividend of US$0.23 announced

Ladder Capital Corp Declares First Quarter 2024 Dividend on Class A Common Stock, Payable on April 15, 2024

Full year 2023 earnings released: EPS: US$0.81 (vs US$1.14 in FY 2022)

Ladder Capital Corp to Report Q4, 2023 Results on Feb 08, 2024

Upcoming dividend of US$0.23 per share at 7.9% yield

Ladder Capital Corp Announces Third Quarter 2023 Dividend , Payable on January 16, 2024

Third quarter 2023 earnings released: EPS: US$0.25 (vs US$0.23 in 3Q 2022)

Ladder Capital Corp to Report Q3, 2023 Results on Oct 26, 2023

Ladder Capital Corp Announces Third Quarter 2023 Dividend , Payable on October 16, 2023

Second quarter 2023 earnings released: EPS: US$0.23 (vs US$0.28 in 2Q 2022)

Upcoming dividend of US$0.23 per share at 8.6% yield

Ladder Capital Corp Announces Second Quarter 2023 Dividend, Payable on July 17, 2023

First quarter 2023 earnings released: EPS: US$0.18 (vs US$0.15 in 1Q 2022)

Upcoming dividend of US$0.23 per share at 10.0% yield

Investor sentiment deteriorates as stock falls 16%

Full year 2022 earnings released: EPS: US$1.14 (vs US$0.46 in FY 2021)

Ladder Capital Corp to Report Q4, 2022 Results on Feb 09, 2023

Upcoming dividend of US$0.23 per share

Ladder Capital Corp Announces Dividend for the Fourth Quarter 2022, Payable on January 17, 2023

Insufficient new directors

Third quarter 2022 earnings released: EPS: US$0.23 (vs US$0.15 in 3Q 2021)

Ladder Capital Corp to Report Q3, 2022 Results on Oct 27, 2022

Investor sentiment deteriorated over the past week

Upcoming dividend of US$0.23 per share

Ladder Capital Corp Declares Dividend on Class A Common Stock for Third Quarter 2022, Payable on October 17, 2022

Insufficient new directors

Second quarter 2022 earnings released: EPS: US$0.28 (vs US$0.083 in 2Q 2021)

Ladder Capital Corp to Report Q2, 2022 Results on Jul 28, 2022

Insufficient new directors

Investor sentiment improved over the past week

Upcoming dividend of US$0.22 per share

Ladder Capital Corp Declares Dividend of Class A Common Stock for Second Quarter 2022, Payable on July 15, 2022

Ladder Capital Corp Appoints Anthony V. Esposito as Chief Accounting Officer and Principal Accounting Officer

First quarter 2022 earnings released: EPS: US$0.15 (vs US$0.002 in 1Q 2021)

Ladder Capital Corp to Report Q1, 2022 Results on Apr 28, 2022

Ladder Capital Corp, Annual General Meeting, Jun 02, 2022

Upcoming dividend of US$0.20 per share

Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat

Ladder Capital Corp to Report Q4, 2021 Results on Feb 10, 2022

Upcoming dividend of US$0.20 per share

Third quarter 2021 earnings released: EPS US$0.15 (vs US$0.15 in 3Q 2020)

Upcoming dividend of US$0.20 per share

Second quarter 2021 earnings released: EPS US$0.083 (vs US$0.039 loss in 2Q 2020)

Executive Officer has left the company

First quarter 2021 earnings released: EPS US$0.002 (vs US$0.15 loss in 1Q 2020)

Upcoming Dividend of US$0.20 Per Share

Chief Accounting Officer recently sold €61k worth of stock

Ladder Capital Corp Announces First Quarter 2021 Dividend to Holders of Class A Common Stock, Payable on April 15, 2021

Full year 2020 earnings released: US$0.13 loss per share (vs US$1.16 profit in FY 2019)

Ladder Capital Corp to Report Q4, 2020 Results on Feb 25, 2021

New 90-day high: €8.70

Ladder Capital Corp Announces CFO Changes