City Office REIT Management

Management criteria checks 3/4

City Office REIT's CEO is Jamie Farrar, appointed in Apr 2014, has a tenure of 10.58 years. total yearly compensation is $2.38M, comprised of 22.1% salary and 77.9% bonuses, including company stock and options. directly owns 1.59% of the company’s shares, worth $3.15M. The average tenure of the management team and the board of directors is 8.8 years and 9.1 years respectively.

Key information

Jamie Farrar

Chief executive officer

US$2.4m

Total compensation

CEO salary percentage	22.1%
CEO tenure	10.6yrs
CEO ownership	1.6%
Management average tenure	8.8yrs
Board average tenure	9.1yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Jamie Farrar's remuneration changed compared to City Office REIT's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	-US$17m
Jun 30 2024	n/a	n/a	-US$14m
Mar 31 2024	n/a	n/a	-US$11m
Dec 31 2023	US$2m	US$525k	-US$10m
Sep 30 2023	n/a	n/a	-US$20m
Jun 30 2023	n/a	n/a	-US$18m
Mar 31 2023	n/a	n/a	-US$14m
Dec 31 2022	US$3m	US$475k	US$10m
Sep 30 2022	n/a	n/a	US$455m
Jun 30 2022	n/a	n/a	US$454m
Mar 31 2022	n/a	n/a	US$453m
Dec 31 2021	US$3m	US$475k	US$477m
Sep 30 2021	n/a	n/a	US$44m
Jun 30 2021	n/a	n/a	US$46m
Mar 31 2021	n/a	n/a	US$45m
Dec 31 2020	US$2m	US$475k	-US$3m
Sep 30 2020	n/a	n/a	-US$424k
Jun 30 2020	n/a	n/a	-US$4m
Mar 31 2020	n/a	n/a	-US$4m
Dec 31 2019	US$2m	US$400k	-US$6m
Sep 30 2019	n/a	n/a	-US$15m
Jun 30 2019	n/a	n/a	-US$15m
Mar 31 2019	n/a	n/a	-US$17m
Dec 31 2018	US$2m	US$400k	US$31m
Sep 30 2018	n/a	n/a	US$36m
Jun 30 2018	n/a	n/a	US$36m
Mar 31 2018	n/a	n/a	US$47m
Dec 31 2017	US$1m	US$325k	-US$2m

Compensation vs Market: Jamie's total compensation ($USD2.38M) is above average for companies of similar size in the US market ($USD1.46M).

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

CEO

Jamie Farrar (48 yo)

10.6yrs

Tenure

US$2,378,388

Compensation

Mr. James Thomas Farrar, also known as Jamie, serves as Chief Executive Officer and Director at City Office REIT Inc. since April 2014. He served as a Co-Managing Partner at Clarity Real Estate. He has exp...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
James Farrar	CEO & Director	10.6yrs	US$2.38m	1.59% $ 3.1m
Gregory Tylee	COO & President	8.8yrs	US$2.38m	1.41% $ 2.8m
Anthony Maretic	CFO, Secretary & Treasurer	10.6yrs	US$1.34m	0.52% $ 1.0m
Stephanie Chung	Senior Vice President of Finance	3.2yrs	no data	no data
Ken Pool	Senior Vice President of Operations	3.2yrs	no data	no data

8.8yrs

Average Tenure

52yo

Average Age

Experienced Management: CIO.PRA's management team is seasoned and experienced (8.8 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
James Farrar	CEO & Director	10.6yrs	US$2.38m	1.59% $ 3.1m
Michael Mazan	Independent Director	1.8yrs	US$48.75k	0.097% $ 191.9k
John McLernon	Independent Director	10.6yrs	US$125.82k	0.086% $ 169.2k
John Sweet	Independent Chairman	7.7yrs	US$130.82k	0.14% $ 268.3k
Mark Murski	Independent Director	10.6yrs	US$123.32k	0.080% $ 157.6k
Sabah Mirza	Independent Director	5.7yrs	US$123.32k	0.031% $ 61.5k

9.1yrs

Average Tenure

52.5yo

Average Age

Experienced Board: CIO.PRA's board of directors are considered experienced (9.1 years average tenure).

City Office REIT Management

Management criteria checks 3/4

Key information

Recent management updates

City Office REIT, Inc., Annual General Meeting, May 02, 2024

City Office REIT, Inc., Annual General Meeting, May 06, 2021

Recent updates

City Office REIT, Inc. to Report Q3, 2024 Results on Oct 31, 2024

City Office REIT Announces Dividends for Third Quarter 2024, Payable on October 24, 2024

City Office REIT, Inc. to Report Q2, 2024 Results on Aug 01, 2024

City Office REIT, Inc. Announces Dividends for Second Quarter 2024, Payable on July 24, 2024

City Office REIT, Inc. to Report Q1, 2024 Results on May 03, 2024

City Office REIT, Inc. Authorizes Quarterly Dividend for the First Quarter of 2024, Payable on April 24, 2024

City Office REIT, Inc., Annual General Meeting, May 02, 2024

City Office Reit, Inc. Provides Earnings Guidance for the Full Year 2024

City Office REIT, Inc. to Report Q4, 2023 Results on Feb 22, 2024

City Office REIT, Inc. Announces Dividend for Fourth Quarter 2023, Payable on January 24, 2024

City Office REIT, Inc. to Report Q3, 2023 Results on Nov 09, 2023

City Office REIT, Inc. Announces Dividends for Third Quarter 2023, Payable on October 24, 2023

City Office REIT, Inc. Revises Earnings Guidance for the Full Year 2023

City Office REIT, Inc. to Report Q2, 2023 Results on Aug 03, 2023

City Office REIT, Inc.(NYSE:CIO) dropped from Russell 2000 Value-Defensive Index

City Office REIT, Inc. (NYSE:CIO) announces an Equity Buyback.

City Office REIT, Inc. to Report Q4, 2022 Results on Feb 23, 2023

City Office REIT, Inc. Authorizes Quarterly Dividend for Common Stock and Common Unit of Partnership Interest for the Fourth Quarter of 2022, Payable on January 24, 2023

City Office REIT, Inc. to Report Q3, 2022 Results on Nov 07, 2022

City Office REIT, Inc. Authorizes Quarterly Dividend for Common Stock and Common Unit of Partnership Interest for the Third Quarter of 2022, Payable on October 21, 2022

City Office REIT, Inc. Revises Earnings Guidance for the Full Year 2022

City Office REIT, Inc. to Report Q2, 2022 Results on Aug 04, 2022

City Office REIT, Inc. Authorizes Quarterly Dividend for Common Stock and Common Unit of Partnership Interest for the Second Quarter of 2022, Payable on July 22, 2022

An unknown buyer completed the acquisition of Lake Vista Pointe property in Dallas from City Office REIT, Inc. (NYSE:CIO).

An unknown buyer agreed to acquire Lake Vista Pointe property in Dallas from City Office REIT, Inc. (NYSE:CIO) for $43.8 million.

City Office REIT, Inc. to Report Q1, 2022 Results on May 05, 2022

City Office REIT, Inc. Provides Earnings Guidance for the Full Year 2022

City Office REIT, Inc. (NYSE:CIO) acquired Bloc 83 from Heritage Properties for approximately $330 million.

City Office REIT, Inc. (NYSE:CIO) acquired The Terraces for $130 million.

City Office REIT, Inc. (NYSE:CIO) acquired Block 23, a premier office building in downtown Phoenix, Arizona Arizona from Red Development LLC for approximately $150 million.

An unknown buyer completed the acquisition of Southern Portfolio Located in Sorrento Mesa Submarket of San Diego, California from City Office REIT, Inc. (NYSE:CIO).

An unknown buyer entered into an agreement to acquire Northern Portfolio Located in Sorrento Mesa Submarket of San Diego, California from City Office REIT, Inc. (NYSE:CIO) for $400 million.

City Office REIT, Inc. Revises Earnings Guidance for the Full Year 2021

City Office REIT, Inc. (NYSE:CIO) entered into a purchase and sale agreement to acquire two properties in Sorrento Mesa submarket of San Diego, California for $43.3 million.

City Office REIT, Inc., Annual General Meeting, May 06, 2021

An unknown buyer acquired Cherry Creek Property in Denver, Colorado from City Office REIT, Inc. (NYSE:CIO) for $95 million.

City Office REIT, Inc. to Report Q4, 2020 Results on Feb 25, 2021

City Office REIT, Inc. to Report Q3, 2020 Results on Nov 05, 2020

An unknown buyer agreed to acquire 89,000 square foot building in San Diego, California from City Office REIT, Inc. (NYSE:CIO) for $16.5 million.

City Office REIT, Inc. to Report Q2, 2020 Results on Aug 06, 2020

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age

Board Members

Average Tenure

Average Age