Equity Commonwealth Management

Management criteria checks 2/4

Equity Commonwealth's CEO is David Helfand, appointed in May 2014, has a tenure of 10.08 years. total yearly compensation is $7.79M, comprised of 12.2% salary and 87.8% bonuses, including company stock and options. directly owns 1.03% of the company’s shares, worth €19.77M. The average tenure of the management team and the board of directors is 10.1 years and 9.9 years respectively.

Key information

David Helfand

Chief executive officer

US$7.8m

Total compensation

CEO salary percentage	12.2%
CEO tenure	10.1yrs
CEO ownership	1.0%
Management average tenure	10.1yrs
Board average tenure	9.9yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has David Helfand's remuneration changed compared to Equity Commonwealth's earnings?
Date	Total Compensation	Salary	Company Earnings
Mar 31 2024	n/a	n/a	US$86m
Dec 31 2023	US$8m	US$950k	US$83m
Sep 30 2023	n/a	n/a	US$78m
Jun 30 2023	n/a	n/a	US$64m
Mar 31 2023	n/a	n/a	US$51m
Dec 31 2022	US$6m	US$824k	US$29m
Sep 30 2022	n/a	n/a	US$7m
Jun 30 2022	n/a	n/a	-US$8m
Mar 31 2022	n/a	n/a	-US$13m
Dec 31 2021	US$6m	US$824k	-US$24m
Sep 30 2021	n/a	n/a	-US$24m
Jun 30 2021	n/a	n/a	-US$21m
Mar 31 2021	n/a	n/a	US$9m
Dec 31 2020	US$5m	US$824k	US$443m
Sep 30 2020	n/a	n/a	US$461m
Jun 30 2020	n/a	n/a	US$484m
Mar 31 2020	n/a	n/a	US$699m
Dec 31 2019	US$6m	US$800k	US$485m
Sep 30 2019	n/a	n/a	US$484m
Jun 30 2019	n/a	n/a	US$493m
Mar 31 2019	n/a	n/a	US$288m
Dec 31 2018	US$6m	US$800k	US$265m
Sep 30 2018	n/a	n/a	US$228m
Jun 30 2018	n/a	n/a	US$228m
Mar 31 2018	n/a	n/a	US$185m
Dec 31 2017	US$6m	US$637k	US$22m

Compensation vs Market: David's total compensation ($USD7.79M) is above average for companies of similar size in the German market ($USD1.49M).

Compensation vs Earnings: David's compensation has increased by more than 20% in the past year.

CEO

David Helfand (59 yo)

10.1yrs

Tenure

US$7,794,816

Compensation

Mr. David A. Helfand serves as Chairman of the Board at Equity Commonwealth since May 20, 2023. He serves as a Senior Advisor at Equity Group Investments since June 2023. He served as an Advisor at Equity...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
David Helfand	President	10.1yrs	US$7.79m	1.03% $ 19.8m
William Griffiths	Executive VP	3.2yrs	US$2.57m	0.086% $ 1.7m
David Weinberg	Executive VP & COO	10.1yrs	US$3.81m	0.42% $ 8.0m
Orrin Shifrin	Executive VP	10.1yrs	US$2.77m	0.18% $ 3.4m
Andrew Levy	Senior VP & Chief Accounting Officer	2.3yrs	no data	0.0022% $ 41.1k

10.1yrs

Average Tenure

56yo

Average Age

Experienced Management: HP5A's management team is seasoned and experienced (10.1 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
David Helfand	President	10.1yrs	US$7.79m	1.03% $ 19.8m
Gerald Spector	Independent Trustee	9.9yrs	US$201.20k	0.13% $ 2.5m
Martin Edelman	Independent Trustee	9.9yrs	US$192.34k	0% $ 0
Peter Linneman	Lead Independent Trustee	10.1yrs	US$241.05k	0.040% $ 770.3k
Mary Robertson	Independent Trustee	9.9yrs	US$208.26k	0.040% $ 757.7k
James Star	Independent Trustee	9.9yrs	US$207.34k	0.074% $ 1.4m
Ellen-Blair Chube	Independent Trustee	3.8yrs	US$202.81k	0.015% $ 278.3k

9.9yrs

Average Tenure

70yo

Average Age

Experienced Board: HP5A's board of directors are considered experienced (9.9 years average tenure).

Equity Commonwealth Management

Management criteria checks 2/4

Key information

Recent management updates

Executive VP recently sold €874k worth of stock

Equity Commonwealth Appoints David Helfand as Chair of the Board of Trustees

Equity Commonwealth Announces Demise of Sam Zell as Chairman of the Board

Insufficient new directors

Executive VP recently sold €1.3m worth of stock

Insufficient new directors

Recent updates

First quarter 2024 earnings released: EPS: US$0.22 (vs US$0.19 in 1Q 2023)

Equity Commonwealth to Report Q1, 2024 Results on May 01, 2024

Land & Buildings Investment Management Sends a Letter to Equity Commonwealth Board

Full year 2023 earnings released: EPS: US$0.76 (vs US$0.26 in FY 2022)

Equity Commonwealth to Report Q4, 2023 Results on Feb 12, 2024

New major risk - Revenue and earnings growth

Third quarter 2023 earnings released: EPS: US$0.22 (vs US$0.092 in 3Q 2022)

Equity Commonwealth to Report Q3, 2023 Results on Oct 30, 2023

Executive VP recently sold €874k worth of stock

New major risk - Revenue and earnings growth

Second quarter 2023 earnings released: EPS: US$0.13 (vs US$0.008 in 2Q 2022)

Equity Commonwealth to Report Q2, 2023 Results on Jul 26, 2023

Equity Commonwealth Appoints David Helfand as Chair of the Board of Trustees

Equity Commonwealth Announces Demise of Sam Zell as Chairman of the Board

First quarter 2023 earnings released: FFO per share: US$0.2 (vs US$0.031 in 1Q 2022)

Investor sentiment deteriorates as stock falls 19%

Equity Commonwealth Declares Special Cash Distribution, Payable on March 9, 2023

Full year 2022 earnings released: EPS: US$0.26 (vs US$0.20 loss in FY 2021)

Equity Commonwealth to Report Q4, 2022 Results on Feb 08, 2023

Insufficient new directors

Third quarter 2022 earnings released: FFO per share: US$0.1 (vs US$0.002 loss in 3Q 2021)

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

Executive VP recently sold €1.3m worth of stock

Upcoming dividend of US$1.00 per share

Equity Commonwealth Declares Special Cash Distribution, Payable on October 18, 2022

Second quarter 2022 earnings released: EPS: US$0.008 (vs US$0.032 loss in 2Q 2021)

First quarter 2022 earnings released: FFO: US$16.7m per share (vs US$0.064 loss in 1Q 2021)

Insufficient new directors

Equity Commonwealth to Report Q1, 2022 Results on May 04, 2022

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

Equity Commonwealth Announces Promotion of William H. Griffiths to Executive Vice President, Chief Financial Officer and Treasurer of the Company

Insufficient new directors

Third quarter 2021 earnings released: US$0.039 loss per share (vs US$0.013 loss in 3Q 2020)

Second quarter 2021 earnings released: US$0.032 loss per share (vs US$0.21 profit in 2Q 2020)

Equity Commonwealth(NYSE:EQC) dropped from Russell Midcap Index

First quarter 2021 earnings released: US$0.064 FFO loss per share (vs US$0.072 profit in 1Q 2020)

Executive VP, CFO & Treasurer has left the company

New 90-day high: €24.40

Equity Commonwealth Appoints Bill Griffiths as Senior Vice President and Treasurer, Effective April 1, 2021

Full year 2020 earnings released: FFO US$0.13 per share (vs US$0.73 in FY 2019)

Revenue beats expectations

New 90-day high: €23.80

New 90-day high: €23.20

Equity Commonwealth to Report Q4, 2020 Results on Feb 10, 2021

New 90-day low: €21.20

New 90-day low: €21.60

James Corl Resigns from Equity Commonwealth's Board of Trustees

Third-quarter earnings released: Revenue beats expectations

Third quarter earnings released

New 90-day low: €22.40

Equity Commonwealth to Report Q3, 2020 Results on Oct 28, 2020

Equity Commonwealth Appoints Ellen-Blair Chube to Board of Trustees

New 90-day low: €25.20

New 90-day low - €26.20

Equity Commonwealth to Report Q2, 2020 Results on Jul 29, 2020

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age

Board Members

Average Tenure

Average Age