Equity Residential Management

Management criteria checks 3/4

Equity Residential's CEO is Mark Parrell, appointed in Sep 2018, has a tenure of 5.58 years. total yearly compensation is $11.36M, comprised of 7.9% salary and 92.1% bonuses, including company stock and options. directly owns 0.11% of the company’s shares, worth €25.72M. The average tenure of the management team and the board of directors is 5.7 years and 9.3 years respectively.

Key information

Mark Parrell

Chief executive officer

US$11.4m

Total compensation

CEO salary percentage	7.9%
CEO tenure	5.6yrs
CEO ownership	0.1%
Management average tenure	5.7yrs
Board average tenure	9.3yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Mark Parrell's remuneration changed compared to Equity Residential's earnings?
Date	Total Compensation	Salary	Company Earnings
Mar 31 2024	n/a	n/a	US$915m
Dec 31 2023	US$11m	US$900k	US$832m
Sep 30 2023	n/a	n/a	US$680m
Jun 30 2023	n/a	n/a	US$830m
Mar 31 2023	n/a	n/a	US$915m
Dec 31 2022	US$11m	US$825k	US$774m
Sep 30 2022	n/a	n/a	US$1b
Jun 30 2022	n/a	n/a	US$1b
Mar 31 2022	n/a	n/a	US$1b
Dec 31 2021	US$8m	US$800k	US$1b
Sep 30 2021	n/a	n/a	US$1b
Jun 30 2021	n/a	n/a	US$715m
Mar 31 2021	n/a	n/a	US$659m
Dec 31 2020	US$8m	US$800k	US$911m
Sep 30 2020	n/a	n/a	US$947m
Jun 30 2020	n/a	n/a	US$1b
Mar 31 2020	n/a	n/a	US$1b
Dec 31 2019	US$7m	US$800k	US$967m
Sep 30 2019	n/a	n/a	US$795m
Jun 30 2019	n/a	n/a	US$743m
Mar 31 2019	n/a	n/a	US$547m
Dec 31 2018	US$4m	US$631k	US$654m
Sep 30 2018	n/a	n/a	US$663m
Jun 30 2018	n/a	n/a	US$586m
Mar 31 2018	n/a	n/a	US$668m
Dec 31 2017	US$3m	US$600k	US$600m

Compensation vs Market: Mark's total compensation ($USD11.36M) is above average for companies of similar size in the German market ($USD5.66M).

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

CEO

Mark Parrell (56 yo)

5.6yrs

Tenure

US$11,361,059

Compensation

Mr. Mark J. Parrell serves as Director at Real Estate Roundtable since July 1, 2021. He has been the Chief Executive Officer and Trustee at Equity Residential since January 1, 2019 and its President since...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Mark Parrell	President	5.6yrs	US$11.36m	0.11% $ 25.7m
Robert Garechana	Executive VP & CFO	5.6yrs	US$4.13m	0.023% $ 5.5m
Michael Manelis	Executive VP & COO	5.8yrs	US$4.57m	0.024% $ 5.7m
Alexander Brackenridge	Executive VP & Chief Investment Officer	3.6yrs	US$4.06m	0.027% $ 6.4m
Scott Fenster	Executive VP	6.3yrs	US$2.60m	0.019% $ 4.5m
Ian Kaufman	Senior VP & Chief Accounting Officer	17.4yrs	no data	0.0065% $ 1.6m
Martin McKenna	First Vice President of Investor & Public Relations	no data	no data	no data
Catherine Carraway	Executive VP & Chief Human Resources Officer	3yrs	no data	0.0045% $ 1.1m
John Lennox	Senior Vice President of Financial Planning & Analysis	no data	no data	no data
Barry Altshuler	Executive Vice President of Investments	9.2yrs	no data	0.012% $ 2.9m

5.7yrs

Average Tenure

56yo

Average Age

Experienced Management: EQR's management team is seasoned and experienced (5.7 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Mark Parrell	President	5.3yrs	US$11.36m	0.11% $ 25.7m
Stephen Sterrett	Lead Independent Trustee	9.3yrs	US$351.46k	0.0098% $ 2.3m
David Neithercut	Chairman of the Board	18.3yrs	US$533.99k	0.22% $ 51.9m
Linda Bynoe	Independent Trustee	14.3yrs	US$324.96k	0.012% $ 2.8m
Mary Haben	Independent Trustee	12.8yrs	US$327.46k	0.0073% $ 1.7m
John Neal	Independent Trustee	17.8yrs	US$312.76k	0.012% $ 2.8m
Tahsinul Huque	Independent Trustee	4.4yrs	US$296.73k	0.0032% $ 749.4k
Mark Shapiro	Independent Trustee	14.3yrs	US$302.46k	0.0089% $ 2.1m
Angela Aman	Independent Trustee	3.3yrs	US$311.20k	0.0025% $ 599.5k
Ann Hoff	Independent Trustee	less than a year	no data	0.00021% $ 50.0k
Nina Jones	Independent Trustee	less than a year	no data	0.00021% $ 50.0k

9.3yrs

Average Tenure

61yo

Average Age

Experienced Board: EQR's board of directors are considered experienced (9.3 years average tenure).

Equity Residential Management

Management criteria checks 3/4

Key information

Recent management updates

Equity Residential Announces Board and Committee Appointments

Equity Residential, Annual General Meeting, Jun 20, 2024

Equity Residential Announces Demise of Founder and Chairman Samuel Zell

Executive VP & Chief Investment Officer recently sold €205k worth of stock

Insufficient new directors

Equity Residential Announces Demise of Raymond “Ray” Bennett, a Member of Board of Trustees

Recent updates

First quarter 2024 earnings released: EPS: US$0.78 (vs US$0.56 in 1Q 2023)

Equity Residential Provides Earnings Guidance for the Second Quarter of 2024

Equity Residential to Report Q1, 2024 Results on Apr 23, 2024

Equity Residential Announces Board and Committee Appointments

Fourth quarter dividend of US$0.68 announced

Equity Residential, Annual General Meeting, Jun 20, 2024

New major risk - Revenue and earnings growth

Full year 2023 earnings released: EPS: US$2.20 (vs US$2.06 in FY 2022)

Equity Residential Provides Earnings Guidance for the Year 2024

Now 21% undervalued

Equity Residential to Report Q4, 2023 Results on Jan 30, 2024

Upcoming dividend of US$0.66 per share at 4.4% yield

Equity Residential Declares Dividend for the Fourth Quarter, Payable on January 12, 2024

Third quarter 2023 earnings released: EPS: US$0.45 (vs US$0.86 in 3Q 2022)

Equity Residential Revises Earnings Guidance for the Full Year 2023

Equity Residential to Report Q3, 2023 Results on Oct 31, 2023

Equity Residential Declares Quarterly Dividends on the Common Shares for the Third Quarter, Payable on October 13, 2023

New major risk - Financial position

Second quarter 2023 earnings released: EPS: US$0.37 (vs US$0.59 in 2Q 2022)

Equity Residential to Report Q2, 2023 Results on Jul 27, 2023

Equity Residential Declares Second Quarter Regular Common Share Dividend, Payable on July 14, 2023

Equity Residential Announces Demise of Founder and Chairman Samuel Zell

First quarter 2023 earnings released: EPS: US$0.56 (vs US$0.19 in 1Q 2022)

Now 20% undervalued after recent price drop

Executive VP & Chief Investment Officer recently sold €205k worth of stock

Equity Residential Provides Earnings Guidance for Full Year 2023

Full year 2022 earnings released: EPS: US$2.06 (vs US$3.56 in FY 2021)

Now 20% undervalued after recent price drop

Equity Residential to Report Q4, 2022 Results on Feb 09, 2023

Upcoming dividend of US$0.63 per share

Equity Residential Declares Fourth Quarter Dividend, Payable on January 13, 2023

Now 20% undervalued after recent price drop

Insufficient new directors

Third quarter 2022 earnings released: FFO per share: US$0.9 (vs US$0.79 in 3Q 2021)

Equity Residential Provides Earnings Guidance for the Fourth Quarter and Revises Earnings Guidance for the Full Year 2022

Equity Residential to Report Q3, 2022 Results on Oct 25, 2022

An unknown buyer acquired Northwest DC apartment building from Equity Residential (NYSE : EQR).

Equity Residential Declares Third Quarter Dividend, Payable on October 14, 2022

Equity Residential Provides Earnings Guidance for the Third Quarter of 2022

Second quarter 2022 earnings released: EPS: US$0.59 (vs US$0.84 in 2Q 2021)

Equity Residential to Report Q2, 2022 Results on Jul 26, 2022

Equity Residential(NYSE:EQR) dropped from Russell 1000 Dynamic Index

Equity Residential Declares Second Quarter Dividend, Payable on July 8, 2022

Equity Residential Announces Demise of Raymond “Ray” Bennett, a Member of Board of Trustees

First quarter 2022 earnings released: FFO: US$653.3m per share (vs US$0.69 in 1Q 2021)

Equity Residential Provides Earnings Guidance for the Second Quarter of 2022

Equity Residential to Report Q1, 2022 Results on Apr 26, 2022

Executive VP & COO recently sold €286k worth of stock

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

Equity Residential Provides Earnings Guidance for the First Quarter and Full Year of 2022

Equity Residential completed the acquisition of two apartment communities totaling 594 Units in Colorado from CIM Group, L.P and Continuum Partners, LLC.

Upcoming dividend of US$0.60 per share

Waterford Property Company, LLC and California Statewide Communities Development Authority acquired Westgate Apartments in Pasadena from Equity Residential (NYSE:EQR) for $280 million.

Third quarter 2021 earnings released: EPS US$1.15 (vs US$0.24 in 3Q 2020)

Equity Residential (NYSE:EQR) acquired 345-Unit Luna Upper Westside in Atlanta for approximately $122 million.

Equity Residential (NYSE:EQR) acquired Redmond apartment building from Trammell Crow Residential Company for $110 million.

Insider recently sold €64k worth of stock

Second quarter 2021 earnings released: EPS US$0.84 (vs US$0.70 in 2Q 2020)

Independent Trustee Bradley Keywell has left the company

Independent Trustee Bradley Keywell has left the company

Senior VP & Chief Accounting Officer recently sold €278k worth of stock

Executive VP & CFO recently sold €185k worth of stock

Equity Residential Revises Earnings Guidance for Its Full Year 2021

First quarter 2021 earnings released

Equity Residential Provides Financial Guidance for the Second Quarter of 2021

Equity Residential Declares Quarterly Dividends on Common Shares, Payable on April 9, 2021

New 90-day high: €56.50

Chief Investment Officer recently sold €137k worth of stock

Full year 2020 earnings released: FFO US$3.33 per share (vs US$3.54 in FY 2019)