Empire State Realty Trust Management

Management criteria checks 3/4

Empire State Realty Trust's CEO is Tony Malkin, appointed in Jan 2012, has a tenure of 12.25 years. total yearly compensation is $8.96M, comprised of 9.5% salary and 90.5% bonuses, including company stock and options. directly owns 0.43% of the company’s shares, worth €10.15M. The average tenure of the management team and the board of directors is 3.2 years and 6.9 years respectively.

Key information

Tony Malkin

Chief executive officer

US$9.0m

Total compensation

CEO salary percentage	9.5%
CEO tenure	12.3yrs
CEO ownership	0.4%
Management average tenure	3.3yrs
Board average tenure	7yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Tony Malkin's remuneration changed compared to Empire State Realty Trust's earnings?
Date	Total Compensation	Salary	Company Earnings
Mar 31 2024	n/a	n/a	US$48m
Dec 31 2023	US$9m	US$850k	US$49m
Sep 30 2023	n/a	n/a	US$52m
Jun 30 2023	n/a	n/a	US$46m
Mar 31 2023	n/a	n/a	US$54m
Dec 31 2022	US$8m	US$810k	US$36m
Sep 30 2022	n/a	n/a	US$21m
Jun 30 2022	n/a	n/a	US$8m
Mar 31 2022	n/a	n/a	-US$19m
Dec 31 2021	US$8m	US$626k	-US$11m
Sep 30 2021	n/a	n/a	-US$8m
Jun 30 2021	n/a	n/a	-US$9m
Mar 31 2021	n/a	n/a	-US$24m
Dec 31 2020	US$10m	US$514k	-US$17m
Sep 30 2020	n/a	n/a	US$225k
Jun 30 2020	n/a	n/a	US$24m
Mar 31 2020	n/a	n/a	US$48m
Dec 31 2019	US$11m	US$810k	US$49m
Sep 30 2019	n/a	n/a	US$55m
Jun 30 2019	n/a	n/a	US$56m
Mar 31 2019	n/a	n/a	US$61m
Dec 31 2018	US$10m	US$810k	US$66m
Sep 30 2018	n/a	n/a	US$60m
Jun 30 2018	n/a	n/a	US$62m
Mar 31 2018	n/a	n/a	US$62m
Dec 31 2017	US$9m	US$810k	US$63m

Compensation vs Market: Tony's total compensation ($USD8.96M) is above average for companies of similar size in the German market ($USD2.57M).

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

CEO

Tony Malkin (61 yo)

12.3yrs

Tenure

US$8,963,424

Compensation

Mr. Anthony E. Malkin, also known as Tony, serves as an Independent Director of APi Group Corporation since October 01, 2019. Mr. Malkin has been the Chief Executive Officer and Chairman since October 2013...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Anthony Malkin	Chairman & CEO	12.3yrs	US$8.96m	0.43% $ 10.0m
Christina Chiu	President	less than a year	US$4.69m	0% $ 0
Thomas Durels	Executive Vice President of Real Estate	6.3yrs	US$4.73m	0.0015% $ 34.1k
Stephen Horn	Executive VP	3.3yrs	no data	no data
Aaron Ratner	Senior VP & Chief Investment Officer	4yrs	no data	no data
Sandy Jacolow	Senior VP & CTO	2yrs	no data	no data
Katy Malonoski	VP & Head of Investor Relations	2yrs	no data	no data
Heather M. Houston	Senior VP	2.8yrs	no data	no data
Abigail Rickards	Senior Vice President of Marketing	3.3yrs	no data	no data
Kevin Vilke	Senior VP & Chief People Officer	1.8yrs	no data	no data
Ryan Kass	Senior VP & Director of Leasing	no data	no data	no data
Fred Posniak	Senior Vice President of Leasing	6.8yrs	no data	no data

3.3yrs

Average Tenure

51yo

Average Age

Experienced Management: ES9's management team is considered experienced (3.2 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Anthony Malkin	Chairman & CEO	13.3yrs	US$8.96m	0.43% $ 10.0m
Steven Gilbert	Lead Independent Director	10.6yrs	US$342.54k	0.012% $ 283.1k
Peter Malkin	Chairman Emeritus	no data	no data	no data
Thomas DeRosa	Independent Director	10.6yrs	US$237.19k	0% $ 0
James Robinson	Independent Director	9.3yrs	US$231.03k	0% $ 0
Christina Van Tassell	Independent Director	less than a year	US$146.91k	no data
R. Hood	Independent Director	4.3yrs	US$253.53k	0% $ 0
Grant Hill	Independent Director	3.5yrs	US$231.03k	0% $ 0
Salvatore Giliberto	Independent Director	10.6yrs	US$336.03k	0.0021% $ 49.6k
Patricia Han	Independent Director	4.7yrs	US$203.60k	0% $ 0
Hannah Yang	Independent Director	less than a year	US$144.56k	no data

7.0yrs

Average Tenure

61yo

Average Age

Experienced Board: ES9's board of directors are considered experienced (6.9 years average tenure).

Empire State Realty Trust Management

Management criteria checks 3/4

Key information

Recent management updates

Empire State Realty Trust, Inc., Annual General Meeting, May 09, 2024

Empire State Realty Trust, Inc. Announces Chief Financial Officer Changes

Empire State Realty Trust, Inc. Announces Board Appointments

Insufficient new directors

Leslie D. Biddle to Step Down as Director of Empire State Realty Trust, Inc, Effective January 16, 2023

Empire State Realty Trust, Inc. Appoints Christina Chiu as Chief Operating Officer

Recent updates

First quarter 2024 earnings released: EPS: US$0.035 (vs US$0.04 in 1Q 2023)

Empire State Realty Trust, Inc. (NYSE:ESRT) acquired remaining stake in Multifamily asset in Manhattan from Fetner Properties, Inc.

Empire State Realty Trust, Inc., Annual General Meeting, May 09, 2024

Empire State Realty Trust, Inc. to Report Q1, 2024 Results on Apr 24, 2024

Fourth quarter dividend of US$0.035 announced

Empire State Realty Trust, Inc. Announces Chief Financial Officer Changes

Empire State Realty Trust, Inc. to Report Q4, 2023 Results on Feb 20, 2024

Empire State Realty Trust, Inc. (NYSE:ESRT) announces an Equity Buyback for $500 million worth of its shares.

Empire State Realty Trust, Inc. Declares Dividend for the Fourth Quarter of 2023, Payable on December 29, 2023

Third quarter 2023 earnings released: EPS: US$0.073 (vs US$0.034 in 3Q 2022)

Empire State Realty Trust, Inc. to Report Q3, 2023 Results on Oct 25, 2023

Upcoming dividend of US$0.035 per share at 1.6% yield

New major risk - Share price stability

Empire State Realty Trust, Inc. Declares Dividend for the Third Quarter of 2023, Payable on September 29, 2023

Second quarter 2023 earnings released: EPS: US$0.14 (vs US$0.18 in 2Q 2022)

Empire State Realty Trust, Inc. Announces Board Appointments

Empire State Realty Trust, Inc. to Report Q2, 2023 Results on Jul 26, 2023

Investor sentiment improves as stock rises 16%

Upcoming dividend of US$0.035 per share at 2.1% yield

Empire State Realty Trust, Inc. Declares Dividend for the Second Quarter of 2023, Payable on June 30, 2023

First quarter 2023 earnings released: FFO per share: US$0.3 (vs US$0.28 in 1Q 2022)

Investor sentiment deteriorates as stock falls 18%

Full year 2022 earnings released: FFO per share: US$1.4 (vs US$1.08 in FY 2021)

Insufficient new directors

Empire State Realty Trust, Inc. to Report Q4, 2022 Results on Feb 15, 2023

Leslie D. Biddle to Step Down as Director of Empire State Realty Trust, Inc, Effective January 16, 2023

Empire State Realty Trust, Inc. (NYSE:ESRT) acquired Free-Market, Rental Apartment Asset Located at 298 Mulberry Street, US from Broad Street Development, LLC and Crow Holdings Capital Partners, L.L.C. for $115 million.

Empire State Realty Trust, Inc. (NYSE:ESRT) acquired Free-Market, Rental Apartment Asset Located at 298 Mulberry Street, US for $120 million.

Empire State Realty Trust, Inc. Appoints Christina Chiu as Chief Operating Officer

Empire State Realty Trust, Inc. Declares Dividend for the Fourth Quarter of 2022, Payable on December 30, 2022

Third quarter 2022 earnings released: EPS: US$0.034 (vs US$0.04 loss in 3Q 2021)

Empire State Realty Trust, Inc. to Report Q3, 2022 Results on Oct 26, 2022

Upcoming dividend of US$0.035 per share

Empire State Realty Trust, Inc. Declares Dividend the Third Quarter of 2022, Payable on September 30, 2022

Second quarter 2022 earnings released: EPS: US$0.17 (vs US$0.012 in 2Q 2021)

Empire State Realty Trust, Inc. to Report Q2, 2022 Results on Jul 27, 2022

Upcoming dividend of US$0.035 per share

First quarter 2022 earnings released: FFO: US$162.9m per share (vs US$0.23 in 1Q 2021)

Empire State Realty Trust, Inc. to Report Q1, 2022 Results on Apr 27, 2022

Empire State Realty Trust, Inc. Declares Dividend the First Quarter of 2022, Payable on March 31, 2022

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

Empire State Realty Trust, Inc. Reports Impairment Charge for the Fourth Quarter Ended December 31, 2021

Third quarter 2021 earnings released: FFO US$0.31 per share (vs US$0.17 in 3Q 2020)

Upcoming dividend of US$0.035 per share

Second quarter 2021 earnings released: EPS US$0.018 (vs US$0.073 loss in 2Q 2020)

Empire State Realty Trust, Inc.(NYSE:ESRT) dropped from Russell Midcap Value Index

Upcoming dividend of US$0.035 per share

Empire State Realty Trust, Inc. Announces Dividend for the Second Quarter of 2021, Payable on June 30, 2021

First quarter 2021 earnings released: FFO US$0.23 per share (vs US$0.29 in 1Q 2020)

Senior VP, Chief Accounting Officer & Treasurer has left the company

New 90-day high: €8.90

Full year 2020 earnings released: US$0.097 loss per share (vs US$0.28 profit in FY 2019)

Revenue beats expectations

New 90-day high: €8.30

Empire State Realty Trust Renews Pera Mediterranean Brasserie at One Grand Central Place

Empire State Realty Trust Signs New Leases for A Total of 49,999 Square Feet At One Grand Central Place

Empire State Realty Trust, Inc. Renews Trexquant Investment at First Stamford Place

Empire State Realty Trust Achieves Fitwel Certification Across 6.7 Million Square Feet for Six of Its New York City Properties

Empire State Realty Trust, Inc. Appoints Grant H. Hill to Board of Directors

Empire State Realty Trust, Inc. Welcomes Swedbank to the Empire State Building

Third quarter 2020 earnings released: FFO US$0.17 per share

Third quarter earnings released

New 90-day low: €5.00

Empire State Realty Trust, Inc. to Report Q3, 2020 Results on Oct 28, 2020

New 90-day low: €5.05

Empire State Realty Trust, Inc. Signs 63,000 Square Feet Lease in Stamford, CT

First half earnings released

New 90-day low - €5.35

Empire State Realty Trust, Inc.(NYSE:ESRT) dropped from Russell 1000 Value-Defensive Index