Seritage Growth Properties Management

Management criteria checks 3/4

Seritage Growth Properties' CEO is Andrea Olshan, appointed in Mar 2021, has a tenure of 3.08 years. total yearly compensation is $2.40M, comprised of 41.6% salary and 58.4% bonuses, including company stock and options. directly owns 0.28% of the company’s shares, worth $1.51M. The average tenure of the management team and the board of directors is 3 years and 2.1 years respectively.

Key information

Andrea Olshan

Chief executive officer

US$2.4m

Total compensation

CEO salary percentage	41.6%
CEO tenure	3.1yrs
CEO ownership	0.3%
Management average tenure	3yrs
Board average tenure	2.1yrs

Recent management updates

Recent updates

Seritage Growth Properties surges on filing prelim proxy materials for Plan of Sale

Jul 08

Health Check: How Prudently Does Seritage Growth Properties (NYSE:SRG) Use Debt?

Jun 13

Seritage: Berkshire Is Not Taking A Haircut Here

Jun 13

Seritage: Special Situation Opportunity Happening Now With 'Near Term' Shareholder Value Creation To Follow

Apr 22

Seritage: Well Priced For 0% Returns

Jan 21

Seritage Growth Properties: Significant Monetization Activities, A Path To Positive Cash From Operations, And A Massively Undervalued Asset Base - Shares Could Double

Nov 18

Seritage: SNO Rents Drop 67% From 2019

Nov 03

Seritage: NOI Now Down 84% From IPO

Aug 10

Seritage Growth Properties: A Glimpse Of Its Value

Jun 28

Seritage Growth Properties (SRG) Presents At REITweek 2021 Investor Virtual Conference - Slideshow

Jun 15

Avoid Seritage Growth Properties Despite Discount To NAV

May 07

What Type Of Returns Would Seritage Growth Properties'(NYSE:SRG) Shareholders Have Earned If They Purchased Their SharesFive Years Ago?

Mar 15

Have Insiders Been Selling Seritage Growth Properties (NYSE:SRG) Shares?

Jan 19

Seritage Growth Properties' Management Is Leaving: Maybe You Should, Too

Jan 04

Seritage: World Of Hurt

Dec 30

Seritage CEO will leave company in January for another opportunity

Dec 10

What We Learned About Seritage Growth Properties' (NYSE:SRG) CEO Pay

Nov 27

Seritage appoints internal candidate as new CFO

Nov 10

CEO Compensation Analysis

How has Andrea Olshan's remuneration changed compared to Seritage Growth Properties's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	US$2m	US$1m	-US$160m
Sep 30 2023	n/a	n/a	-US$71m
Jun 30 2023	n/a	n/a	-US$74m
Mar 31 2023	n/a	n/a	-US$89m
Dec 31 2022	US$4m	US$1m	-US$79m
Sep 30 2022	n/a	n/a	-US$98m
Jun 30 2022	n/a	n/a	-US$115m
Mar 31 2022	n/a	n/a	-US$78m
Dec 31 2021	US$6m	US$785k	-US$33m

Compensation vs Market: Andrea's total compensation ($USD2.40M) is about average for companies of similar size in the US market ($USD2.37M).

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

CEO

Andrea Olshan (42 yo)

3.1yrs

Tenure

US$2,404,615

Compensation

Ms. Andrea L. Olshan has been Chief Executive Officer, President and Director of Seritage Growth Properties since March 16, 2021. Ms. Olshan was the Chief Executive Officer of Olshan Properties and respons...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Andrea Olshan	CEO, President & Director	3.1yrs	US$2.40m	0.28% $ 1.5m
John Garilli	Interim Chief Financial Officer	2.3yrs	no data	no data
Eric Dinenberg	Chief Operating Officer	2.3yrs	US$1.46m	0.055% $ 294.3k
Matthew Fernand	Chief Legal Officer & Corporate Secretary	3yrs	US$1.55m	0.10% $ 553.2k
Christopher Mrozinski	Senior Vice President of Development	no data	no data	no data
Nino Cammalleri	Senior VP & Real Estate Counsel	5.5yrs	no data	no data

3.0yrs

Average Tenure

44yo

Average Age

Experienced Management: SRG's management team is considered experienced (3 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Andrea Olshan	CEO, President & Director	3.1yrs	US$2.40m	0.28% $ 1.5m
Adam Metz	Independent Chairman	2.1yrs	US$175.00k	no data
Talya Nevo-Hacohen	Independent Trustee	2yrs	US$140.00k	no data
Allison Thrush	Independent Trustee	5yrs	US$125.00k	0.0097% $ 51.5k
John McClain	Independent Trustee	8.8yrs	US$155.00k	0.0046% $ 24.5k
Mitchell Sabshon	Independent Trustee	2yrs	US$140.00k	no data
Mark Wilsmann	Independent Trustee	2yrs	US$125.00k	no data

2.1yrs

Average Tenure

62yo

Average Age

Experienced Board: SRG's board of directors are not considered experienced ( 2.1 years average tenure), which suggests a new board.

Seritage Growth Properties Management

Management criteria checks 3/4

Key information

Recent management updates

Seritage Growth Properties, Annual General Meeting, Jun 05, 2024

Insider recently sold US$1.8m worth of stock

Insider recently sold US$2.7m worth of stock

Insider recently sold US$659k worth of stock

Insider recently sold US$881k worth of stock

Insider recently sold US$417k worth of stock

Recent updates

Seritage Growth Properties, Annual General Meeting, Jun 05, 2024

Seritage Growth Properties announced delayed annual 10-K filing

Insider recently sold US$1.8m worth of stock

Insider recently sold US$2.7m worth of stock

Seritage Preferreds Offer Tempting Potential 12.86% Yield To Maturity

Insider recently sold US$659k worth of stock

Insider recently sold US$881k worth of stock

Insider recently sold US$417k worth of stock

Insider recently sold US$542k worth of stock

Seritage: Intriguing Assets And Fascinating CEO

Third quarter 2023 earnings released: US$0.038 loss per share (vs US$0.084 loss in 3Q 2022)

Price target decreased by 14% to US$12.00

High number of new directors

An unknown buyer acquired Two vacant / non-income producing Non-Core assets of Seritage Growth Properties for $6.2 million.

Seritage: Nearing The Finish Line

Seritage Growth Properties Announces Impairment on Development Property in Aventura, Florida for the Quarter Ended June 30, 2023

Seritage Growth Properties announced delayed 10-Q filing

The Macerich Company (NYSE:MAC) acquired the remaining 50% stakes in 5 Former Sears Boxes from Seritage Growth Properties (NYSE:SRG).

Is Seritage Growth Properties (NYSE:SRG) Weighed On By Its Debt Load?

Four Corners Property Trust, Inc. (NYSE:FCPT) acquired Outback Steakhouse and Hook & Reel property from Seritage Growth Properties (NYSE:SRG) for $5.2 million.

First quarter 2023 earnings released: US$1.13 loss per share (vs US$1.23 loss in 1Q 2022)

Full year 2022 earnings released: US$1.59 loss per share (vs US$0.78 loss in FY 2021)

Seritage Growth Properties reduces outstanding debt to $800M

Insider recently sold US$5.1m worth of stock

Seritage Growth Properties, Annual General Meeting, Jun 06, 2023

Insider recently sold US$3.2m worth of stock

Insider recently sold US$74k worth of stock

Four Corners Property Trust, Inc. (NYSE:FCPT) acquires Chili's Property in Florida from Seritage Growth Properties (NYSE:SRG) for $2.6 million.

Four Corners Property Trust, Inc. (NYSE:FCPT) completed the acquisition of portfolio of 23 outparcel properties from Seritage Growth Properties (NYSE:SRG) for $71 million.

Insider recently sold US$1.1m worth of stock

High number of new directors

Seritage Growth Properties: Buy $20 For Less Than $12

Third quarter 2022 earnings released: US$0.084 loss per share (vs US$0.50 loss in 3Q 2021)

O'Keefe Stevens - Seritage Growth Properties: A Good Idea On Paper

BH Group and Electra America, Inc. acquired 193,422-square-foot former Sears store at 20701 Allapattah Road from Seritage Growth Properties (NYSE:SRG) for $34 million.

Four Corners Property Trust, Inc. (NYSE:FCPT) acquired Torchy Tacos property from Seritage Growth Properties (NYSE:SRG) fro $2.2 million.

Insider recently sold US$3.7m worth of stock

Seritage Growth Properties prepays $70M loan

Insider recently sold US$779k worth of stock

Seritage: Bears Beat Back Bold Bulls

Seritage Growth Properties, Annual General Meeting, Oct 24, 2022

Second quarter 2022 earnings released: US$2.56 loss per share (vs US$1.73 loss in 2Q 2021)

Seritage Growth Properties Announces Impairment of Real Estate Assets for the Second Quarter Ended June 30, 2022

Seritage Growth Properties prepays $100M toward $1.6B term loan facility

Seritage Growth Properties Appoints Adam Metz as Chairman of the Board of Trustees

Seritage Growth Properties surges on filing prelim proxy materials for Plan of Sale

Health Check: How Prudently Does Seritage Growth Properties (NYSE:SRG) Use Debt?

Seritage: Berkshire Is Not Taking A Haircut Here

High number of new directors

Seritage Growth Properties Reports Impairment Charges for the First Quarter Ended March 31, 2022

First quarter 2022 earnings released: US$1.23 loss per share (vs US$0.23 loss in 1Q 2021)

High number of new directors

Seritage: Special Situation Opportunity Happening Now With 'Near Term' Shareholder Value Creation To Follow

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

Seritage: Well Priced For 0% Returns

Four Corners Property Trust, Inc. (NYSE:FCPT) acquired Portillo's Restaurant Property in Wisconsin from Seritage Growth Properties (NYSE:SRG) for $3.3 million

Fuqua Development, LP acquired Kmart property in St. Pete, Florida from Seritage Growth Properties (NYSE:SRG) for $6 million.

Seritage Growth Properties: Significant Monetization Activities, A Path To Positive Cash From Operations, And A Massively Undervalued Asset Base - Shares Could Double

Third quarter 2021 earnings released: US$0.50 loss per share (vs US$1.33 loss in 3Q 2020)

Seritage: SNO Rents Drop 67% From 2019

Second quarter 2021 earnings released: US$1.73 loss per share (vs US$0.03 loss in 2Q 2020)

Seritage: NOI Now Down 84% From IPO

Four Corners Property Trust, Inc. (NYSE:FCPT) completed the acquisition of portfolio of 23 outparcel properties from Seritage Growth Properties (NYSE:SRG) for $71 million.

Seritage Growth Properties: A Glimpse Of Its Value

Seritage Growth Properties (SRG) Presents At REITweek 2021 Investor Virtual Conference - Slideshow

Avoid Seritage Growth Properties Despite Discount To NAV

First quarter 2021 earnings released: US$0.48 FFO loss per share (vs US$0.48 loss in 1Q 2020)

Seritage Growth Properties Announces Impairment of Real Estate Assets for the First Quarter Ended March 31, 2021

Independent Trustee recently bought US$98k worth of stock