NEPI Rockcastle Management

Management criteria checks 4/4

NEPI Rockcastle's CEO is Rolf Dany, appointed in Feb 2022, has a tenure of 2.25 years. total yearly compensation is €1.68M, comprised of 40.1% salary and 59.9% bonuses, including company stock and options. directly owns 0.071% of the company’s shares, worth €2.97M. The average tenure of the management team and the board of directors is 2.3 years and 4.1 years respectively.

Key information

Rolf Dany

Chief executive officer

€1.7m

Total compensation

CEO salary percentage	40.1%
CEO tenure	2.3yrs
CEO ownership	0.07%
Management average tenure	2.3yrs
Board average tenure	4.1yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Rolf Dany's remuneration changed compared to NEPI Rockcastle's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	€2m	€675k	€477m
Sep 30 2023	n/a	n/a	€500m
Jun 30 2023	n/a	n/a	€524m
Mar 31 2023	n/a	n/a	€479m
Dec 31 2022	€3m	€717k	€435m
Sep 30 2022	n/a	n/a	€360m
Jun 30 2022	n/a	n/a	€284m
Mar 31 2022	n/a	n/a	€260m
Dec 31 2021	€202k	n/a	€235m

Compensation vs Market: Rolf's total compensation ($USD1.81M) is about average for companies of similar size in the Dutch market ($USD2.43M).

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

CEO

Rolf Dany (60 yo)

2.3yrs

Tenure

€1,684,000

Compensation

Mr. Rolf Rüdiger Dany, BSc, is Executive Director at NEPI Rockcastle Plc since August 18, 2021, has been its Chief Executive Officer since June 01, 2022 and served as its Interim Chief Executive Officer fr...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Rolf Dany	CEO & Executive Director	2.3yrs	€1.68m	0.071% € 3.0m
Eliza Predoiu	CFO & Executive Director	2.3yrs	€928.00k	0.044% € 1.8m
Marek Noetzel	COO & Executive Director	1.9yrs	€986.00k	0.080% € 3.3m
Eugeniu Barba	Managing Director	9.7yrs	no data	no data
Jan Vollenhoven	Managing Director	8.2yrs	no data	no data
Alex Florescu	Company Secretary	1.7yrs	no data	no data

2.3yrs

Average Tenure

44yo

Average Age

Experienced Management: NRP's management team is considered experienced (2.3 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Rolf Dany	CEO & Executive Director	2.8yrs	€1.68m	0.071% € 3.0m
Eliza Predoiu	CFO & Executive Director	2.3yrs	€928.00k	0.044% € 1.8m
Marek Noetzel	COO & Executive Director	7yrs	€986.00k	0.080% € 3.3m
Antoine Vincent Dijkstra	Independent Non-Executive Director	8yrs	€88.00k	0.00071% € 29.5k
Andries de Lange	Independent Non-Executive Director	4yrs	€63.00k	0.031% € 1.3m
Andreas Klingen	Lead Independent Director	5.1yrs	€89.00k	no data
Jonathan Lurie	Independent Non-Executive Director	2.8yrs	€68.00k	no data
Andre van der Veer	Independent Non-Executive Director	7yrs	€98.00k	0.011% € 469.4k
Ana Mihaescu	Independent Non-Executive Director	2.8yrs	€74.00k	no data
Steven Brown	Non-Independent Non-Executive Director	4.1yrs	€75.00k	0.061% € 2.5m
Sipho Majija	Alternate Director	4.1yrs	€27.00k	no data
George Aase	Independent Non Executive Chairman	5.8yrs	€102.00k	0.0015% € 62.8k

4.1yrs

Average Tenure

52.5yo

Average Age

Experienced Board: NRP's board of directors are considered experienced (4.1 years average tenure).

NEPI Rockcastle Management

Management criteria checks 4/4

Key information

Recent management updates

NEPI Rockcastle N.V., Annual General Meeting, May 14, 2024

High number of new directors

High number of new directors

Independent Non-Executive Director recently bought €127k worth of stock

Independent Non-Executive Director recently bought €102k worth of stock

Nepi Rockcastle S.A. Announces Executive Changes

Recent updates

NEPI Rockcastle N.V., Annual General Meeting, May 14, 2024

Upcoming dividend of €0.26 per share

Public Investment Corporation Limited acquired unknown minority stake in NEPI Rockcastle N.V. (JSE:NRP).

Final dividend reduced to €0.26

Full year 2023 earnings: EPS and revenues exceed analyst expectations

New minor risk - Shareholder dilution

NEPI Rockcastle N.V. to Report Q1, 2024 Results on May 15, 2024

New major risk - Share price stability

Upcoming dividend of €0.26 per share at 9.3% yield

NEPI Rockcastle N.V. Declares Dividend for Six Months Ended June 30, 2023

First half 2023 earnings released: EPS: €0.42 (vs €0.28 in 1H 2022)

New major risk - Revenue and earnings growth

Now 25% undervalued after recent price drop

Now 26% undervalued after recent price drop

Investor sentiment improves as stock rises 15%

Investor sentiment improves as stock rises 20%

Full year 2022 earnings released: EPS: €0.72 (vs €0.39 in FY 2021)

Upcoming dividend of €0.29 per share at 8.8% yield

Full year 2022 earnings released: EPS: €0.72 (vs €0.39 in FY 2021)

High number of new directors

Now 24% undervalued

Investor sentiment improved over the past week

Now 26% undervalued

NEPI Rockcastle N.V. to Report First Half, 2023 Results on Aug 22, 2023

High number of new directors

NEPI Rockcastle N.V. (JSE:NRP) entered into a binding agreement to acquire Atrium Copernicus Sp. Zo.o. from NE Property B.V.

Investor sentiment improved over the past week

Independent Non-Executive Director recently bought €127k worth of stock

NEPI Rockcastle N.V. (JSE:NRP) acquired 50% stake in S.C. Ploiesti Shopping City S.R.L.

Upcoming dividend of €0.23 per share

Independent Non-Executive Director recently bought €102k worth of stock

Nepi Rockcastle S.A. Announces Executive Changes

First half 2022 earnings released: EPS: €0.28 (vs €0.20 in 1H 2021)

High number of new directors

High number of new directors

High number of new directors

Nepi Rockcastle S.A. Appoints Rüdiger Dany as Permanent CEO, Effective 1 June 2022

NEPI Rockcastle plc, Annual General Meeting, Aug 24, 2022

High number of new directors

Upcoming dividend of €0.17 per share

Full year 2021 earnings: EPS in line with expectations, revenues disappoint

Full year 2021 earnings: EPS in line with expectations, revenues disappoint

Nepi Rockcastle plc Declares Distribution for the Year Ended December 31, 2021, Payable on March 25, 2022

High number of new directors

Upcoming dividend of €0.18 per share

Independent Non-Executive Chairman Robert Emslie has left the company

First half 2021 earnings released: EPS €0.20 (vs €0.33 loss in 1H 2020)

High number of new directors

BIG CEE Serbia entered into a binding agreement to acquire Kragujevac Plaza and Krusevac Shopping Park in Serbia from NEPI Rockcastle plc (JSE:NRP) for €60.8 million.

NEPI Rockcastle plc to Report Q1, 2021 Results on May 20, 2021

Upcoming Dividend of €0.17 Per Share

NEPI Rockcastle plc to Report Fiscal Year 2020 Results on Mar 23, 2021

New 90-day high: €5.60

Price target raised to €6.40

Full year 2020 earnings released: €0.28 loss per share (vs €0.68 profit in FY 2019)

Public Investment Corporation Limited acquired an additional unknown stake in NEPI Rockcastle plc (JSE:NRP).

NEPI Rockcastle plc to Report First Half, 2021 Results on Aug 19, 2021

NEPI Rockcastle plc Withdraws Earnings Guidance for the Year 2020

NEPI Rockcastle plc Appoints Mr. Andreas Klingen as Member of the Nomination Committee and Lead Independent Director

AFI Europe N.V. completed the acquisition of Romanian office portfolio from NEPI Rockcastle plc (JSE:NRP).

NEPI Rockcastle plc Decides to Withdraw Its Earnings Guidance for the Financial Year Ending 31 December 2020

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age

Board Members