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ecd:ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember ecd:PeoMember 2025-01-01 2025-12-31 0000034903 ecd:ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember ecd:PeoMember 2025-01-01 2025-12-31 0000034903 ecd:NonPeoNeoMember 2025-01-01 2025-12-31 0000034903 5 2025-01-01 2025-12-31 0000034903 1 2025-01-01 2025-12-31 0000034903 2 2025-01-01 2025-12-31 0000034903 3 2025-01-01 2025-12-31 0000034903 4 2025-01-01 2025-12-31 iso4217:USD DEF 14A false 0000034903 FEDERAL REALTY INVESTMENT TRUST <div id="toc33770_61" style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL"><div style="font-family:Times New Roman; font-size:10pt;color:#ff160f;display:inline;">➣</div> <div style="font-weight:bold;display:inline;">PAY VERSUS PERFORMANCE DISCLOSURE</div> </div><div style="font-size:12pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt;width:100%;border-spacing:0;margin:0 auto"> <tr> <td style="width:28%"></td> <td style="vertical-align:bottom;width:2%"></td> <td style="width:84pt"></td> <td></td> <td></td> <td style="width:84pt"></td> <td style="vertical-align:bottom;width:2%"></td> <td style="width:64pt"></td> <td></td> <td></td> <td style="width:64pt"></td> <td style="vertical-align:bottom;width:2%"></td> <td style="width:140pt"></td> <td></td> <td></td> <td style="width:140pt"></td> <td style="vertical-align:bottom;width:2%"></td> <td style="width:112pt"></td> <td></td> <td></td> <td style="width:112pt"></td> <td style="vertical-align:bottom;width:2%"></td> <td style="width:56pt"></td> <td></td> <td></td> <td style="width:56pt"></td> <td style="vertical-align:bottom;width:2%"></td> <td style="width:78pt"></td> <td></td> <td></td> <td style="width:78pt"></td> <td style="vertical-align:bottom;width:2%"></td> <td style="width:30pt"></td> <td></td> <td></td> <td style="width:30pt"></td> <td style="vertical-align:bottom;width:2%"></td> <td style="width:52pt"></td> <td></td> <td></td> <td style="width:52pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:arial; font-size:8pt;background-color:#ff160f"> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom">  </td> <td colspan="4" style="vertical-align:bottom"> </td> <td style="vertical-align:bottom">  </td> <td colspan="4" style="vertical-align:bottom"> </td> <td style="vertical-align:bottom">  </td> <td colspan="4" style="vertical-align:bottom"> </td> <td style="vertical-align:bottom">  </td> <td colspan="4" style="vertical-align:bottom"> </td> <td style=" BORDER-BOTTOM:1.00pt solid #ffffff;vertical-align:bottom">  </td> <td colspan="9" style="BORDER-BOTTOM:1.00pt solid #ffffff;vertical-align:bottom;text-align:center"><div style="color:#ffffff;display:inline;"><div style="font-weight:bold;display:inline;"><div style="color:#ffffff;display:inline;">Value of Initial Fixed $100<br/> Investment Based On:</div></div></div></td> <td style="vertical-align:bottom">  </td> <td colspan="4" style="vertical-align:bottom"> </td> <td style="vertical-align:bottom">  </td> <td colspan="4" style="vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:arial; font-size:8pt;background-color:#ff160f"> <td style="vertical-align:bottom"><div style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial"><div style="color:#ffffff;display:inline;"><div style="font-weight:bold;display:inline;"><div style="color:#ffffff;display:inline;"> Year</div></div></div></div><div style="font-size:3pt; margin-top:0pt; margin-bottom:1pt"> </div></td> <td style="vertical-align:bottom">  </td> <td colspan="4" style="vertical-align:bottom"><div style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial;text-align:center"><div style="color:#ffffff;display:inline;"><div style="font-weight:bold;display:inline;"><div style="color:#ffffff;display:inline;">Summary<br/> Compensation<br/> Table Total for<br/> PEO</div><div style="font-size:75%; vertical-align:top;display:inline;font-size:6.6px">(1)</div></div></div></div><div style="font-size:3pt; margin-top:0pt; margin-bottom:1pt;text-align:left"> </div></td> <td style="vertical-align:bottom">  </td> <td colspan="4" style="vertical-align:bottom"><div style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial;text-align:center"><div style="color:#ffffff;display:inline;"><div style="font-weight:bold;display:inline;"><div style="color:#ffffff;display:inline;">Compensation<br/> Actually Paid to<br/> PEO</div><div style="font-size:75%; vertical-align:top;display:inline;font-size:6.6px">(1)</div></div></div></div><div style="font-size:3pt; margin-top:0pt; margin-bottom:1pt;text-align:left"> </div></td> <td style="vertical-align:bottom">  </td> <td colspan="4" style="vertical-align:bottom"><div style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial;text-align:center"><div style="color:#ffffff;display:inline;"><div style="font-weight:bold;display:inline;"><div style="color:#ffffff;display:inline;">Average<br/> Summary<br/> Compensation<br/> Table Total for<br/> <div style="white-space:nowrap;display:inline;">non-PEO NEOs</div></div><div style="font-size:75%; vertical-align:top;display:inline;font-size:6.6px">(2)</div></div></div></div><div style="font-size:3pt; margin-top:0pt; margin-bottom:1pt;text-align:left"> </div></td> <td style="vertical-align:bottom">  </td> <td colspan="4" style="vertical-align:bottom"><div style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial;text-align:center"><div style="color:#ffffff;display:inline;"><div style="font-weight:bold;display:inline;"><div style="color:#ffffff;display:inline;">Average<br/> Compensation<br/> Actually Paid to<br/> <div style="white-space:nowrap;display:inline;">non-PEO NEOs</div></div><div style="font-size:75%; vertical-align:top;display:inline;font-size:6.6px">(2)</div></div></div></div><div style="font-size:3pt; margin-top:0pt; margin-bottom:1pt;text-align:left"> </div></td> <td style="vertical-align:bottom">  </td> <td colspan="4" style="vertical-align:bottom"><div style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial;text-align:center"><div style="color:#ffffff;display:inline;"><div style="font-weight:bold;display:inline;"><div style="color:#ffffff;display:inline;">Total<br/> Shareholder<br/> Return</div><div style="font-size:75%; vertical-align:top;display:inline;font-size:6.6px">(3)</div></div></div></div><div style="font-size:3pt; margin-top:0pt; margin-bottom:1pt;text-align:left"> </div></td> <td style="vertical-align:bottom">  </td> <td colspan="4" style="vertical-align:bottom"><div style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial;text-align:center"><div style="color:#ffffff;display:inline;"><div style="font-weight:bold;display:inline;"><div style="color:#ffffff;display:inline;">Peer Group<br/> Total<br/> Shareholder<br/> Return</div><div style="font-size:75%; vertical-align:top;display:inline;font-size:6.6px">(3)</div></div></div></div><div style="font-size:3pt; margin-top:0pt; margin-bottom:1pt;text-align:left"> </div></td> <td style="vertical-align:bottom">  </td> <td colspan="4" style="vertical-align:bottom"><div style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial;text-align:center"><div style="color:#ffffff;display:inline;"><div style="font-weight:bold;display:inline;"><div style="color:#ffffff;display:inline;">Net<br/> Income <br/> (in 000s)</div></div></div></div><div style="font-size:3pt; margin-top:0pt; margin-bottom:1pt;text-align:left"> </div></td> <td style="vertical-align:bottom">  </td> <td colspan="4" style="vertical-align:bottom"><div style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial;text-align:center"><div style="color:#ffffff;display:inline;"><div style="font-weight:bold;display:inline;"><div style="color:#ffffff;display:inline;">NAREIT<br/> FFO per<br/> Diluted<br/> Share</div><div style="font-size:75%; vertical-align:top;display:inline;font-size:6.6px">(4)</div></div></div></div><div style="font-size:3pt; margin-top:0pt; margin-bottom:1pt;text-align:left"> </div></td></tr> <tr style="page-break-inside:avoid ; font-family:arial; font-size:9pt"> <td style="vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"> 2025</div></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">9,929,147</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">8,370,328</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">2,889,143</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">2,588,140</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">134.06</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">154.56</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">423,648</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">7.22</td> <td style="white-space:nowrap;vertical-align:bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:arial; font-size:9pt"> <td style="vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"> 2024</div></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">9,240,530</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">11,336,876</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">2,328,903</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">2,705,899</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">153.40</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">171.23</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">304,334</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">6.77</td> <td style="white-space:nowrap;vertical-align:bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:arial; font-size:9pt"> <td style="vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"> 2023</div></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">8,941,820</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">9,972,582</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">2,416,716</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">2,590,452</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">136.87</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">155.04</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">247,217</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">6.55</td> <td style="white-space:nowrap;vertical-align:bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:arial; font-size:9pt"> <td style="vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"> 2022</div></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">8,916,031</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">6,570,796</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">2,026,318</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">1,623,013</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">128.32</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">141.90</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">395,661</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">6.32</td> <td style="white-space:nowrap;vertical-align:bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:arial; font-size:9pt"> <td style="vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"> 2021</div></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">7,520,917</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">15,446,709</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">2,266,502</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">3,606,101</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">165.92</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">163.52</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">269,081</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">5.57</td> <td style="white-space:nowrap;vertical-align:bottom"></td></tr></table><div style="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:11%"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt;border-spacing:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%;vertical-align:top;text-align:left"><div style="font-size:75%; vertical-align:top;display:inline;font-size:7.5px">(1)</div> </td> <td style="vertical-align:top;text-align:left"><div style=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL;text-align:justify">Mr. Wood was our principal executive officer for all years shown. Following are the adjustments made during each year shown to arrive at compensation actually paid to our principal executive officer during each year. </div></td></tr></table><div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt;width:100%;border-spacing:0;margin:0 auto"> <tr> <td style="width:46%"></td> <td style="vertical-align:bottom;width:1%"></td> <td style="width:8pt"></td> <td></td> <td></td> <td style="width:8pt"></td> <td style="vertical-align:bottom;width:1%"></td> <td style="width:8pt"></td> <td></td> <td></td> <td style="width:8pt"></td> <td style="vertical-align:bottom;width:1%"></td> <td style="width:8pt"></td> <td></td> <td></td> <td style="width:8pt"></td> <td style="vertical-align:bottom;width:1%"></td> <td style="width:8pt"></td> <td></td> <td></td> <td style="width:8pt"></td> <td style="vertical-align:bottom;width:1%"></td> <td style="width:8pt"></td> <td></td> <td></td> <td style="width:8pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:arial; font-size:8pt;background-color:#ff160f"> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom">  </td> <td colspan="24" style="vertical-align:bottom;text-align:center"><div style="color:#ffffff;display:inline;"><div style="font-weight:bold;display:inline;"><div style="color:#ffffff;display:inline;">PEO</div></div></div></td></tr> <tr style="page-break-inside:avoid ; font-family:arial; font-size:8pt;background-color:#ff160f"> <td style="vertical-align:bottom"><div style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial"><div style="color:#ffffff;display:inline;"><div style="font-weight:bold;display:inline;"><div style="color:#ffffff;display:inline;"> Adjustments</div></div></div></div><div style="font-size:3pt; margin-top:0pt; margin-bottom:1pt"> </div></td> <td style="vertical-align:bottom">  </td> <td colspan="4" style="vertical-align:bottom"><div style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial;text-align:center"><div style="color:#ffffff;display:inline;"><div style="font-weight:bold;display:inline;"><div style="color:#ffffff;display:inline;">2025</div></div></div></div><div style="font-size:3pt; margin-top:0pt; margin-bottom:1pt;text-align:left"> </div></td> <td style="vertical-align:bottom"> </td> <td colspan="4" style="vertical-align:bottom"><div style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial;text-align:center"><div style="color:#ffffff;display:inline;"><div style="font-weight:bold;display:inline;"><div style="color:#ffffff;display:inline;">2024</div></div></div></div><div style="font-size:3pt; margin-top:0pt; margin-bottom:1pt;text-align:left"> </div></td> <td style="vertical-align:bottom"> </td> <td colspan="4" style="vertical-align:bottom"><div style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial;text-align:center"><div style="color:#ffffff;display:inline;"><div style="font-weight:bold;display:inline;"><div style="color:#ffffff;display:inline;">2023</div></div></div></div><div style="font-size:3pt; margin-top:0pt; margin-bottom:1pt;text-align:left"> </div></td> <td style="vertical-align:bottom"> </td> <td colspan="4" style="vertical-align:bottom"><div style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial;text-align:center"><div style="color:#ffffff;display:inline;"><div style="font-weight:bold;display:inline;"><div style="color:#ffffff;display:inline;">2022</div></div></div></div><div style="font-size:3pt; margin-top:0pt; margin-bottom:1pt;text-align:left"> </div></td> <td style="vertical-align:bottom"> </td> <td colspan="4" style="vertical-align:bottom"><div style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial;text-align:center"><div style="color:#ffffff;display:inline;"><div style="font-weight:bold;display:inline;"><div style="color:#ffffff;display:inline;">2021</div></div></div></div><div style="font-size:3pt; margin-top:0pt; margin-bottom:1pt;text-align:left"> </div></td></tr> <tr style="font-size:1pt"> <td style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:arial; font-size:9pt"> <td style="vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"> Amounts reported under “Stock Awards” in SCT</div></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"> $</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(7,554,434</td> <td style="white-space:nowrap;vertical-align:bottom">)</td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(6,946,529</td> <td style="white-space:nowrap;vertical-align:bottom">)</td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(6,502,565</td> <td style="white-space:nowrap;vertical-align:bottom">)</td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(6,474,391</td> <td style="white-space:nowrap;vertical-align:bottom">)</td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(5,213,719</td> <td style="white-space:nowrap;vertical-align:bottom">)</td></tr> <tr style="font-size:1pt;background-color:#d8d8d8"> <td style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:arial; font-size:9pt;background-color:#d8d8d8"> <td style="vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"> Change Fair Value of Awards Granted in Year and Unvested as of <div style="white-space:nowrap;display:inline;">Year-End</div></div></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"> $</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">6,888,168</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">7,649,655</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">6,203,610</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">5,171,732</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">7,421,261</td> <td style="white-space:nowrap;vertical-align:bottom"></td></tr> <tr style="font-size:1pt"> <td style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:arial; font-size:9pt"> <td style="vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"> Change in Fair Value from Prior <div style="white-space:nowrap;display:inline;">Year-End</div> to Current <div style="white-space:nowrap;display:inline;">Year-End</div> of Awards Granted Prior to Year that w ere Outstanding and Unvested as of <div style="white-space:nowrap;display:inline;">Year-End</div></div></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"> $</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(1,391,297</td> <td style="white-space:nowrap;vertical-align:bottom">)</td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">991,042</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">406,886</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(1,546,034</td> <td style="white-space:nowrap;vertical-align:bottom">)</td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">4,544,000</td> <td style="white-space:nowrap;vertical-align:bottom"></td></tr> <tr style="font-size:1pt;background-color:#d8d8d8"> <td style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:arial; font-size:9pt;background-color:#d8d8d8"> <td style="vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"> Change in Fair Value from Prior <div style="white-space:nowrap;display:inline;">Year-End</div> to Vesting Date of Awards Granted Prior to Year that Vested During Year</div></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"> $</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(83,345</td> <td style="white-space:nowrap;vertical-align:bottom">)</td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(128,475</td> <td style="white-space:nowrap;vertical-align:bottom">)</td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">449,965</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">66,969</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">765,243</td> <td style="white-space:nowrap;vertical-align:bottom"></td></tr> <tr style="font-size:1pt"> <td style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:arial; font-size:9pt"> <td style="vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"> Increase based on Dividends or Other Earnings Paid During Year prior to Vesting Date of Award</div></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"> $</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">  582,089</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">  530,653</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">  472,866</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">  436,488</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">  409,008</td> <td style="white-space:nowrap;vertical-align:bottom"></td></tr> <tr style="font-size:1px"> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td colspan="29" style="vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00pt solid #000000"> </div></td> <td colspan="29" style="vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00pt solid #000000"> </div></td> <td> </td></tr> <tr style="font-size:1pt;background-color:#d8d8d8"> <td style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:arial; font-size:9pt;background-color:#d8d8d8"> <td style="vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial;font-weight:bold">Total Adjustments</div></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-weight:bold;display:inline;"> $</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-weight:bold;display:inline;">(1,558,819</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-weight:bold;display:inline;">)</div></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-weight:bold;display:inline;">$</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-weight:bold;display:inline;">2,096,346</div></td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-weight:bold;display:inline;">$</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-weight:bold;display:inline;">1,030,762</div></td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-weight:bold;display:inline;">$</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-weight:bold;display:inline;">(2,345,236</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-weight:bold;display:inline;">)</div></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-weight:bold;display:inline;">$</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-weight:bold;display:inline;">(7,925,792</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-weight:bold;display:inline;">)</div></td></tr></table><div style="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:11%"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt;border-spacing:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%;vertical-align:top;text-align:left"><div style="font-size:75%; vertical-align:top;display:inline;font-size:7.5px">(2)</div> </td> <td style="vertical-align:top;text-align:left"><div style=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL;text-align:justify">Following are the adjustments made during each year shown to arrive at the average compensation actually paid to our other NEOs during each year. </div></td></tr></table><div style="margin-top:0pt;margin-bottom:0pt ; font-size:8pt"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt;width:100%;border-spacing:0;margin:0 auto"> <tr> <td style="width:50%"></td> <td style="vertical-align:bottom;width:1%"></td> <td style="width:8pt"></td> <td></td> <td></td> <td style="width:8pt"></td> <td style="vertical-align:bottom;width:1%"></td> <td style="width:8pt"></td> <td></td> <td></td> <td style="width:8pt"></td> <td style="vertical-align:bottom;width:1%"></td> <td style="width:8pt"></td> <td></td> <td></td> <td style="width:8pt"></td> <td style="vertical-align:bottom;width:1%"></td> <td style="width:8pt"></td> <td></td> <td></td> <td style="width:8pt"></td> <td style="vertical-align:bottom;width:1%"></td> <td style="width:8pt"></td> <td></td> <td></td> <td style="width:8pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:arial; font-size:8pt;background-color:#ff160f"> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom">  </td> <td colspan="24" style="vertical-align:bottom;text-align:center"><div style="color:#ffffff;display:inline;"><div style="font-weight:bold;display:inline;"><div style="color:#ffffff;display:inline;">Average of Other NEOs</div></div></div></td></tr> <tr style="page-break-inside:avoid ; font-family:arial; font-size:8pt;background-color:#ff160f"> <td style="vertical-align:bottom"><div style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial"><div style="color:#ffffff;display:inline;"><div style="font-weight:bold;display:inline;"><div style="color:#ffffff;display:inline;"> Adjustments</div></div></div></div><div style="font-size:3pt; margin-top:0pt; margin-bottom:1pt"> </div></td> <td style="vertical-align:bottom">  </td> <td colspan="4" style="vertical-align:bottom"><div style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial;text-align:center"><div style="color:#ffffff;display:inline;"><div style="font-weight:bold;display:inline;"><div style="color:#ffffff;display:inline;">2025</div></div></div></div><div style="font-size:3pt; margin-top:0pt; margin-bottom:1pt;text-align:left"> </div></td> <td style="vertical-align:bottom"> </td> <td colspan="4" style="vertical-align:bottom"><div style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial;text-align:center"><div style="color:#ffffff;display:inline;"><div style="font-weight:bold;display:inline;"><div style="color:#ffffff;display:inline;">2024</div></div></div></div><div style="font-size:3pt; margin-top:0pt; margin-bottom:1pt;text-align:left"> </div></td> <td style="vertical-align:bottom"> </td> <td colspan="4" style="vertical-align:bottom"><div style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial;text-align:center"><div style="color:#ffffff;display:inline;"><div style="font-weight:bold;display:inline;"><div style="color:#ffffff;display:inline;">2023</div></div></div></div><div style="font-size:3pt; margin-top:0pt; margin-bottom:1pt;text-align:left"> </div></td> <td style="vertical-align:bottom"> </td> <td colspan="4" style="vertical-align:bottom"><div style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial;text-align:center"><div style="color:#ffffff;display:inline;"><div style="font-weight:bold;display:inline;"><div style="color:#ffffff;display:inline;">2022</div></div></div></div><div style="font-size:3pt; margin-top:0pt; margin-bottom:1pt;text-align:left"> </div></td> <td style="vertical-align:bottom"> </td> <td colspan="4" style="vertical-align:bottom"><div style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial;text-align:center"><div style="color:#ffffff;display:inline;"><div style="font-weight:bold;display:inline;"><div style="color:#ffffff;display:inline;">2021</div></div></div></div><div style="font-size:3pt; margin-top:0pt; margin-bottom:1pt;text-align:left"> </div></td></tr> <tr style="font-size:1pt"> <td style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:arial; font-size:9pt"> <td style="vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"> Amounts reported under “Stock Awards” in SCT</div></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"> $</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(1,565,388</td> <td style="white-space:nowrap;vertical-align:bottom">)</td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(1,171,784</td> <td style="white-space:nowrap;vertical-align:bottom">)</td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(1,097,793</td> <td style="white-space:nowrap;vertical-align:bottom">)</td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(809,283</td> <td style="white-space:nowrap;vertical-align:bottom">)</td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(1,290,104</td> <td style="white-space:nowrap;vertical-align:bottom">)</td></tr> <tr style="font-size:1pt;background-color:#d8d8d8"> <td style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:arial; font-size:9pt;background-color:#d8d8d8"> <td style="vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"> Change Fair Value of Awards Granted in Year and Unvested as of <div style="white-space:nowrap;display:inline;">Year-End</div></div></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"> $</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">1,427,328</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">1,290,392</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">1,047,323</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">646,454</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">1,708,703</td> <td style="white-space:nowrap;vertical-align:bottom"></td></tr> <tr style="font-size:1pt"> <td style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:arial; font-size:9pt"> <td style="vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"> Change in Fair Value from Prior <div style="white-space:nowrap;display:inline;">Year-End</div> to Current <div style="white-space:nowrap;display:inline;">Year-End</div> of Awards Granted Prior to Year that were Outstanding and Unvested as of <div style="white-space:nowrap;display:inline;">Year-End</div></div></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"> $</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(245,556</td> <td style="white-space:nowrap;vertical-align:bottom">)</td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">174,088</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">73,187</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(319,754</td> <td style="white-space:nowrap;vertical-align:bottom">)</td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">726,323</td> <td style="white-space:nowrap;vertical-align:bottom"></td></tr> <tr style="font-size:1pt;background-color:#d8d8d8"> <td style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:arial; font-size:9pt;background-color:#d8d8d8"> <td style="vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"> Change in Fair Value from Prior <div style="white-space:nowrap;display:inline;">Year-End</div> to Vesting Date of Awards Granted Prior to Year that Vested During Year</div></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"> $</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(30,162</td> <td style="white-space:nowrap;vertical-align:bottom">)</td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(11,124</td> <td style="white-space:nowrap;vertical-align:bottom">)</td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">65,154</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(2,952</td> <td style="white-space:nowrap;vertical-align:bottom">)</td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">124,066</td> <td style="white-space:nowrap;vertical-align:bottom"></td></tr> <tr style="font-size:1pt"> <td style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:arial; font-size:9pt"> <td style="vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"> Increase based on Dividends or Other Earnings Paid During Year prior to Vesting Date of Award</div></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"> $</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">  112,776</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">  95,424</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">  85,866</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">  82,230</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">  70,610</td> <td style="white-space:nowrap;vertical-align:bottom"></td></tr> <tr style="font-size:1px"> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td colspan="29" style="vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00pt solid #000000"> </div></td> <td colspan="29" style="vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00pt solid #000000"> </div></td> <td> </td></tr> <tr style="font-size:1pt;background-color:#d8d8d8"> <td style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:arial; font-size:9pt;background-color:#d8d8d8"> <td style="vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial;font-weight:bold">Total Adjustments</div></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-weight:bold;display:inline;"> $</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-weight:bold;display:inline;">(301,003</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-weight:bold;display:inline;">)</div></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-weight:bold;display:inline;">$</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-weight:bold;display:inline;">376,996</div></td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-weight:bold;display:inline;">$</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-weight:bold;display:inline;">173,736</div></td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-weight:bold;display:inline;">$</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-weight:bold;display:inline;">(403,305</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-weight:bold;display:inline;">)</div></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-weight:bold;display:inline;">$</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-weight:bold;display:inline;">1,339,599</div></td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr></table><div style="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:11%"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt;border-spacing:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%;vertical-align:top;text-align:left"><div style="font-size:75%; vertical-align:top;display:inline;font-size:7.5px">(3)</div> </td> <td style="vertical-align:top;text-align:left"><div style=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL;text-align:justify">Peer group is the BBRESHOP Index which included an independent third party calculated return for the last 5.5 months of 2025. The total shareholder return shown for both the company and the peer group is calculated on a cumulative basis from January 1, 2021 through the last day of the applicable year shown. The compensation, net income and NAREIT FFO per diluted share shown for the applicable calendar year are calculated over different periods of time. As a result, the total returns shown for any given year are unlikely to correlate to the compensation, net income and NAREIT FFO per diluted share shown for that calendar year. </div></td></tr></table> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt;border-spacing:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%;vertical-align:top;text-align:left"><div style="font-size:75%; vertical-align:top;display:inline;font-size:7.5px">(4)</div> </td> <td style="vertical-align:top;text-align:left"><div style=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL;text-align:justify">The Company has identified NAREIT FFO per diluted share as the most important additional financial metric used to link pay and performance. Our annual bonus program pays out based on our absolute level of NAREIT FFO per diluted share achieved for the year and <div style="white-space:nowrap;display:inline;">one-third</div> of our long-term incentive plan pays out based on a metric tied to NAREIT FFO per diluted share. NAREIT FFO per diluted share is a <div style="white-space:nowrap;display:inline;">non-GAAP</div> financial measure of a real estate company’s operating performance and is defined by the National Association of Real Estate Investment Trusts. We consider NAREIT FFO per diluted share a meaningful measure of operating performance primarily because it avoids the assumption that the value of real estate assets diminishes predictably over time and is a primary way of evaluating our operating performance as compared to other real estate investment trusts. A reconciliation of NAREIT FFO per diluted share to net income is included as Appendix A. </div></td></tr></table> 9929147 8370328 2889143 2588140 134.06 154.56 423648000 7.22 9240530 11336876 2328903 2705899 153.4 171.23 304334000 6.77 8941820 9972582 2416716 2590452 136.87 155.04 247217000 6.55 8916031 6570796 2026318 1623013 128.32 141.9 395661000 6.32 7520917 15446709 2266502 3606101 165.92 163.52 269081000 5.57 Mr. Wood Following are the adjustments made during each year shown to arrive at compensation actually paid to our principal executive officer during each year.<div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt;width:100%;border-spacing:0;margin:0 auto"> <tr> <td style="width:46%"></td> <td style="vertical-align:bottom;width:1%"></td> <td style="width:8pt"></td> <td></td> <td></td> <td style="width:8pt"></td> <td style="vertical-align:bottom;width:1%"></td> <td style="width:8pt"></td> <td></td> <td></td> <td style="width:8pt"></td> <td style="vertical-align:bottom;width:1%"></td> <td style="width:8pt"></td> <td></td> <td></td> <td style="width:8pt"></td> <td style="vertical-align:bottom;width:1%"></td> <td style="width:8pt"></td> <td></td> <td></td> <td style="width:8pt"></td> <td style="vertical-align:bottom;width:1%"></td> <td style="width:8pt"></td> <td></td> <td></td> <td style="width:8pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:arial; font-size:8pt;background-color:#ff160f"> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom">  </td> <td colspan="24" style="vertical-align:bottom;text-align:center"><div style="color:#ffffff;display:inline;"><div style="font-weight:bold;display:inline;"><div style="color:#ffffff;display:inline;">PEO</div></div></div></td></tr> <tr style="page-break-inside:avoid ; font-family:arial; font-size:8pt;background-color:#ff160f"> <td style="vertical-align:bottom"><div style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial"><div style="color:#ffffff;display:inline;"><div style="font-weight:bold;display:inline;"><div style="color:#ffffff;display:inline;"> Adjustments</div></div></div></div><div style="font-size:3pt; margin-top:0pt; margin-bottom:1pt"> </div></td> <td style="vertical-align:bottom">  </td> <td colspan="4" style="vertical-align:bottom"><div style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial;text-align:center"><div style="color:#ffffff;display:inline;"><div style="font-weight:bold;display:inline;"><div style="color:#ffffff;display:inline;">2025</div></div></div></div><div style="font-size:3pt; margin-top:0pt; margin-bottom:1pt;text-align:left"> </div></td> <td style="vertical-align:bottom"> </td> <td colspan="4" style="vertical-align:bottom"><div style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial;text-align:center"><div style="color:#ffffff;display:inline;"><div style="font-weight:bold;display:inline;"><div style="color:#ffffff;display:inline;">2024</div></div></div></div><div style="font-size:3pt; margin-top:0pt; margin-bottom:1pt;text-align:left"> </div></td> <td style="vertical-align:bottom"> </td> <td colspan="4" style="vertical-align:bottom"><div style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial;text-align:center"><div style="color:#ffffff;display:inline;"><div style="font-weight:bold;display:inline;"><div style="color:#ffffff;display:inline;">2023</div></div></div></div><div style="font-size:3pt; margin-top:0pt; margin-bottom:1pt;text-align:left"> </div></td> <td style="vertical-align:bottom"> </td> <td colspan="4" style="vertical-align:bottom"><div style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial;text-align:center"><div style="color:#ffffff;display:inline;"><div style="font-weight:bold;display:inline;"><div style="color:#ffffff;display:inline;">2022</div></div></div></div><div style="font-size:3pt; margin-top:0pt; margin-bottom:1pt;text-align:left"> </div></td> <td style="vertical-align:bottom"> </td> <td colspan="4" style="vertical-align:bottom"><div style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial;text-align:center"><div style="color:#ffffff;display:inline;"><div style="font-weight:bold;display:inline;"><div style="color:#ffffff;display:inline;">2021</div></div></div></div><div style="font-size:3pt; margin-top:0pt; margin-bottom:1pt;text-align:left"> </div></td></tr> <tr style="font-size:1pt"> <td style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:arial; font-size:9pt"> <td style="vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"> Amounts reported under “Stock Awards” in SCT</div></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"> $</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(7,554,434</td> <td style="white-space:nowrap;vertical-align:bottom">)</td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(6,946,529</td> <td style="white-space:nowrap;vertical-align:bottom">)</td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(6,502,565</td> <td style="white-space:nowrap;vertical-align:bottom">)</td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(6,474,391</td> <td style="white-space:nowrap;vertical-align:bottom">)</td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(5,213,719</td> <td style="white-space:nowrap;vertical-align:bottom">)</td></tr> <tr style="font-size:1pt;background-color:#d8d8d8"> <td style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:arial; font-size:9pt;background-color:#d8d8d8"> <td style="vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"> Change Fair Value of Awards Granted in Year and Unvested as of <div style="white-space:nowrap;display:inline;">Year-End</div></div></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"> $</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">6,888,168</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">7,649,655</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">6,203,610</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">5,171,732</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">7,421,261</td> <td style="white-space:nowrap;vertical-align:bottom"></td></tr> <tr style="font-size:1pt"> <td style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:arial; font-size:9pt"> <td style="vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"> Change in Fair Value from Prior <div style="white-space:nowrap;display:inline;">Year-End</div> to Current <div style="white-space:nowrap;display:inline;">Year-End</div> of Awards Granted Prior to Year that w ere Outstanding and Unvested as of <div style="white-space:nowrap;display:inline;">Year-End</div></div></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"> $</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(1,391,297</td> <td style="white-space:nowrap;vertical-align:bottom">)</td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">991,042</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">406,886</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(1,546,034</td> <td style="white-space:nowrap;vertical-align:bottom">)</td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">4,544,000</td> <td style="white-space:nowrap;vertical-align:bottom"></td></tr> <tr style="font-size:1pt;background-color:#d8d8d8"> <td style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:arial; font-size:9pt;background-color:#d8d8d8"> <td style="vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"> Change in Fair Value from Prior <div style="white-space:nowrap;display:inline;">Year-End</div> to Vesting Date of Awards Granted Prior to Year that Vested During Year</div></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"> $</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(83,345</td> <td style="white-space:nowrap;vertical-align:bottom">)</td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(128,475</td> <td style="white-space:nowrap;vertical-align:bottom">)</td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">449,965</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">66,969</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">765,243</td> <td style="white-space:nowrap;vertical-align:bottom"></td></tr> <tr style="font-size:1pt"> <td style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:arial; font-size:9pt"> <td style="vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"> Increase based on Dividends or Other Earnings Paid During Year prior to Vesting Date of Award</div></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"> $</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">  582,089</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">  530,653</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">  472,866</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">  436,488</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">  409,008</td> <td style="white-space:nowrap;vertical-align:bottom"></td></tr> <tr style="font-size:1px"> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td colspan="29" style="vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00pt solid #000000"> </div></td> <td colspan="29" style="vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00pt solid #000000"> </div></td> <td> </td></tr> <tr style="font-size:1pt;background-color:#d8d8d8"> <td style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:arial; font-size:9pt;background-color:#d8d8d8"> <td style="vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial;font-weight:bold">Total Adjustments</div></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-weight:bold;display:inline;"> $</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-weight:bold;display:inline;">(1,558,819</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-weight:bold;display:inline;">)</div></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-weight:bold;display:inline;">$</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-weight:bold;display:inline;">2,096,346</div></td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-weight:bold;display:inline;">$</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-weight:bold;display:inline;">1,030,762</div></td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-weight:bold;display:inline;">$</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-weight:bold;display:inline;">(2,345,236</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-weight:bold;display:inline;">)</div></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-weight:bold;display:inline;">$</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-weight:bold;display:inline;">(7,925,792</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-weight:bold;display:inline;">)</div></td></tr></table> -7554434 -6946529 -6502565 -6474391 -5213719 6888168 7649655 6203610 5171732 7421261 -1391297 991042 406886 -1546034 4544000 -83345 -128475 449965 66969 765243 582089 530653 472866 436488 409008 -1558819 2096346 1030762 -2345236 -7925792 Following are the adjustments made during each year shown to arrive at the average compensation actually paid to our other NEOs during each year. <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:arial; font-size:9pt;width:100%;border-spacing:0;margin:0 auto"> <tr> <td style="width:50%"></td> <td style="vertical-align:bottom;width:1%"></td> <td style="width:8pt"></td> <td></td> <td></td> <td style="width:8pt"></td> <td style="vertical-align:bottom;width:1%"></td> <td style="width:8pt"></td> <td></td> <td></td> <td style="width:8pt"></td> <td style="vertical-align:bottom;width:1%"></td> <td style="width:8pt"></td> <td></td> <td></td> <td style="width:8pt"></td> <td style="vertical-align:bottom;width:1%"></td> <td style="width:8pt"></td> <td></td> <td></td> <td style="width:8pt"></td> <td style="vertical-align:bottom;width:1%"></td> <td style="width:8pt"></td> <td></td> <td></td> <td style="width:8pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:arial; font-size:8pt;background-color:#ff160f"> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom">  </td> <td colspan="24" style="vertical-align:bottom;text-align:center"><div style="color:#ffffff;display:inline;"><div style="font-weight:bold;display:inline;"><div style="color:#ffffff;display:inline;">Average of Other NEOs</div></div></div></td></tr> <tr style="page-break-inside:avoid ; font-family:arial; font-size:8pt;background-color:#ff160f"> <td style="vertical-align:bottom"><div style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial"><div style="color:#ffffff;display:inline;"><div style="font-weight:bold;display:inline;"><div style="color:#ffffff;display:inline;"> Adjustments</div></div></div></div><div style="font-size:3pt; margin-top:0pt; margin-bottom:1pt"> </div></td> <td style="vertical-align:bottom">  </td> <td colspan="4" style="vertical-align:bottom"><div style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial;text-align:center"><div style="color:#ffffff;display:inline;"><div style="font-weight:bold;display:inline;"><div style="color:#ffffff;display:inline;">2025</div></div></div></div><div style="font-size:3pt; margin-top:0pt; margin-bottom:1pt;text-align:left"> </div></td> <td style="vertical-align:bottom"> </td> <td colspan="4" style="vertical-align:bottom"><div style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial;text-align:center"><div style="color:#ffffff;display:inline;"><div style="font-weight:bold;display:inline;"><div style="color:#ffffff;display:inline;">2024</div></div></div></div><div style="font-size:3pt; margin-top:0pt; margin-bottom:1pt;text-align:left"> </div></td> <td style="vertical-align:bottom"> </td> <td colspan="4" style="vertical-align:bottom"><div style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial;text-align:center"><div style="color:#ffffff;display:inline;"><div style="font-weight:bold;display:inline;"><div style="color:#ffffff;display:inline;">2023</div></div></div></div><div style="font-size:3pt; margin-top:0pt; margin-bottom:1pt;text-align:left"> </div></td> <td style="vertical-align:bottom"> </td> <td colspan="4" style="vertical-align:bottom"><div style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial;text-align:center"><div style="color:#ffffff;display:inline;"><div style="font-weight:bold;display:inline;"><div style="color:#ffffff;display:inline;">2022</div></div></div></div><div style="font-size:3pt; margin-top:0pt; margin-bottom:1pt;text-align:left"> </div></td> <td style="vertical-align:bottom"> </td> <td colspan="4" style="vertical-align:bottom"><div style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial;text-align:center"><div style="color:#ffffff;display:inline;"><div style="font-weight:bold;display:inline;"><div style="color:#ffffff;display:inline;">2021</div></div></div></div><div style="font-size:3pt; margin-top:0pt; margin-bottom:1pt;text-align:left"> </div></td></tr> <tr style="font-size:1pt"> <td style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:arial; font-size:9pt"> <td style="vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"> Amounts reported under “Stock Awards” in SCT</div></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"> $</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(1,565,388</td> <td style="white-space:nowrap;vertical-align:bottom">)</td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(1,171,784</td> <td style="white-space:nowrap;vertical-align:bottom">)</td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(1,097,793</td> <td style="white-space:nowrap;vertical-align:bottom">)</td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(809,283</td> <td style="white-space:nowrap;vertical-align:bottom">)</td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(1,290,104</td> <td style="white-space:nowrap;vertical-align:bottom">)</td></tr> <tr style="font-size:1pt;background-color:#d8d8d8"> <td style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:arial; font-size:9pt;background-color:#d8d8d8"> <td style="vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"> Change Fair Value of Awards Granted in Year and Unvested as of <div style="white-space:nowrap;display:inline;">Year-End</div></div></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"> $</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">1,427,328</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">1,290,392</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">1,047,323</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">646,454</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">1,708,703</td> <td style="white-space:nowrap;vertical-align:bottom"></td></tr> <tr style="font-size:1pt"> <td style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:arial; font-size:9pt"> <td style="vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"> Change in Fair Value from Prior <div style="white-space:nowrap;display:inline;">Year-End</div> to Current <div style="white-space:nowrap;display:inline;">Year-End</div> of Awards Granted Prior to Year that were Outstanding and Unvested as of <div style="white-space:nowrap;display:inline;">Year-End</div></div></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"> $</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(245,556</td> <td style="white-space:nowrap;vertical-align:bottom">)</td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">174,088</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">73,187</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(319,754</td> <td style="white-space:nowrap;vertical-align:bottom">)</td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">726,323</td> <td style="white-space:nowrap;vertical-align:bottom"></td></tr> <tr style="font-size:1pt;background-color:#d8d8d8"> <td style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:arial; font-size:9pt;background-color:#d8d8d8"> <td style="vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"> Change in Fair Value from Prior <div style="white-space:nowrap;display:inline;">Year-End</div> to Vesting Date of Awards Granted Prior to Year that Vested During Year</div></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"> $</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(30,162</td> <td style="white-space:nowrap;vertical-align:bottom">)</td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(11,124</td> <td style="white-space:nowrap;vertical-align:bottom">)</td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">65,154</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">(2,952</td> <td style="white-space:nowrap;vertical-align:bottom">)</td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">124,066</td> <td style="white-space:nowrap;vertical-align:bottom"></td></tr> <tr style="font-size:1pt"> <td style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:arial; font-size:9pt"> <td style="vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial"> Increase based on Dividends or Other Earnings Paid During Year prior to Vesting Date of Award</div></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"> $</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">  112,776</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">  95,424</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">  85,866</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">  82,230</td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">  70,610</td> <td style="white-space:nowrap;vertical-align:bottom"></td></tr> <tr style="font-size:1px"> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td colspan="29" style="vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00pt solid #000000"> </div></td> <td colspan="29" style="vertical-align:bottom"><div style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00pt solid #000000"> </div></td> <td> </td></tr> <tr style="font-size:1pt;background-color:#d8d8d8"> <td style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td> <td colspan="5" style="height:3pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:arial; font-size:9pt;background-color:#d8d8d8"> <td style="vertical-align:top"><div style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:arial;font-weight:bold">Total Adjustments</div></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-weight:bold;display:inline;"> $</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-weight:bold;display:inline;">(301,003</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-weight:bold;display:inline;">)</div></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-weight:bold;display:inline;">$</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-weight:bold;display:inline;">376,996</div></td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-weight:bold;display:inline;">$</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-weight:bold;display:inline;">173,736</div></td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-weight:bold;display:inline;">$</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-weight:bold;display:inline;">(403,305</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-weight:bold;display:inline;">)</div></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-weight:bold;display:inline;">$</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-weight:bold;display:inline;">1,339,599</div></td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr></table> -1565388 -1171784 -1097793 -809283 -1290104 1427328 1290392 1047323 646454 1708703 -245556 174088 73187 -319754 726323 -30162 -11124 65154 -2952 124066 112776 95424 85866 82230 70610 -301003 376996 173736 -403305 1339599 Peer group is the BBRESHOP Index which included an independent third party calculated return for the last 5.5 months of 2025. The total shareholder return shown for both the company and the peer group is calculated on a cumulative basis from January 1, 2021 through the last day of the applicable year shown. The compensation, net income and NAREIT FFO per diluted share shown for the applicable calendar year are calculated over different periods of time. As a result, the total returns shown for any given year are unlikely to correlate to the compensation, net income and NAREIT FFO per diluted share shown for that calendar year. NAREIT FFO per diluted share NAREIT FFO per diluted share NAREIT FFO per diluted share is a <div style="white-space:nowrap;display:inline;">non-GAAP</div> financial measure of a real estate company’s operating performance and is defined by the National Association of Real Estate Investment Trusts. We consider NAREIT FFO per diluted share a meaningful measure of operating performance primarily because it avoids the assumption that the value of real estate assets diminishes predictably over time and is a primary way of evaluating our operating performance as compared to other real estate investment trusts. A reconciliation of NAREIT FFO per diluted share to net income is included as Appendix A. <div style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL;text-align:justify">The following charts show the relationship of the compensation actually paid to our CEO and the average compensation actually paid to our other NEOs as compared to the total shareholder return for the Company and for the BBRESHOP Index. </div><div style="font-size:12pt;margin-top:0pt;margin-bottom:0pt"> </div><div style="margin-top:0pt;margin-bottom:0pt;text-align:justify"> <img alt="LOGO" src="g33770g41f01.jpg" style="width:3.14429in;height:1.80115in"/> </div><div style="font-size:12pt; margin-top:0pt; margin-bottom:0pt"> </div><div style="margin-top:0pt;margin-bottom:0pt;text-align:justify"> <img alt="LOGO" src="g33770g41f02.jpg" style="width:3.14746in;height:1.8044in"/> </div><div style="clear:both; height:0pt; font-size:0pt"></div><div style="font-size:12pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt;border-spacing:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%;vertical-align:top;text-align:left">*</td> <td style="vertical-align:top;text-align:left"><div style=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:ARIAL;text-align:justify">Compensation actually paid is shown in thousands. </div></td></tr></table> <div style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL;text-align:justify">The following charts show the relationship of the compensation actually paid to our CEO and the average compensation actually paid to our other NEOs as compared to the total shareholder return for the Company and for the BBRESHOP Index. </div><div style="font-size:12pt;margin-top:0pt;margin-bottom:0pt"> </div><div style="margin-top:0pt;margin-bottom:0pt;text-align:justify"> <img alt="LOGO" src="g33770g41f01.jpg" style="width:3.14429in;height:1.80115in"/> </div><div style="font-size:12pt; margin-top:0pt; margin-bottom:0pt"> </div><div style="margin-top:0pt;margin-bottom:0pt;text-align:justify"> <img alt="LOGO" src="g33770g41f02.jpg" style="width:3.14746in;height:1.8044in"/> </div><div style="clear:both; height:0pt; font-size:0pt"></div><div style="font-size:12pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt;border-spacing:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%;vertical-align:top;text-align:left">*</td> <td style="vertical-align:top;text-align:left"><div style=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:ARIAL;text-align:justify">Compensation actually paid is shown in thousands. </div></td></tr></table> <div style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL;text-align:justify">The following charts show the relationship of the compensation actually paid to our CEO and the average compensation actually paid to our other NEOs as compared to our GAAP reported net income and our NAREIT FFO per diluted share. </div><div style="font-size:12pt;margin-top:0pt;margin-bottom:0pt"> </div><div style="margin-top:0pt;margin-bottom:0pt;text-align:justify"> <img alt="LOGO" src="g33770g42g43.jpg" style="width:3.14441in;height:1.80427in"/> </div><div style="font-size:12pt; margin-top:0pt; margin-bottom:0pt"> </div><div style="margin-top:0pt;margin-bottom:0pt;text-align:justify"> <img alt="LOGO" src="g33770g42g42.jpg" style="width:3.14441in;height:1.80427in"/> </div><div style="clear:both; height:0pt; font-size:0pt"></div><div style="font-size:12pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt;border-spacing:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%;vertical-align:top;text-align:left">*</td> <td style="vertical-align:top;text-align:left"><div style=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL;text-align:justify">Net income is shown in ten thousands. </div></td></tr></table> <div style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL;text-align:justify">The following charts show the relationship of the compensation actually paid to our CEO and the average compensation actually paid to our other NEOs as compared to our GAAP reported net income and our NAREIT FFO per diluted share. </div><div style="font-size:12pt;margin-top:0pt;margin-bottom:0pt"> </div><div style="margin-top:0pt;margin-bottom:0pt;text-align:justify"> <img alt="LOGO" src="g33770g42g43.jpg" style="width:3.14441in;height:1.80427in"/> </div><div style="font-size:12pt; margin-top:0pt; margin-bottom:0pt"> </div><div style="margin-top:0pt;margin-bottom:0pt;text-align:justify"> <img alt="LOGO" src="g33770g42g42.jpg" style="width:3.14441in;height:1.80427in"/> </div><div style="clear:both; height:0pt; font-size:0pt"></div><div style="font-size:12pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt;border-spacing:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%;vertical-align:top;text-align:left">*</td> <td style="vertical-align:top;text-align:left"><div style=" margin-top:0pt ; margin-bottom:0pt; font-size:9pt; font-family:ARIAL;text-align:justify">Net income is shown in ten thousands. </div></td></tr></table> <div style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL;font-weight:bold">Other Important Financial Performance Measures for Executive Compensation </div><div style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL;text-align:justify">Following is a list of the most important financial and <div style="white-space:nowrap;display:inline;">non-financial</div> measures used to link executive compensation and company performance. </div><div style="font-size:12pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt;border-spacing:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:5%"> </td> <td style="width:3%;vertical-align:top;text-align:left">•</td> <td style="width:1%;vertical-align:top"> </td> <td style="vertical-align:top;text-align:left"><div style=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt;text-align:justify">Return on invested capital </div></td></tr></table><div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt;border-spacing:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:5%"> </td> <td style="width:3%;vertical-align:top;text-align:left">•</td> <td style="width:1%;vertical-align:top"> </td> <td style="vertical-align:top;text-align:left"><div style=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt;text-align:justify">Relative total shareholder return compared to the BBRESHOP Index </div></td></tr></table><div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt;border-spacing:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:5%"> </td> <td style="width:3%;vertical-align:top;text-align:left">•</td> <td style="width:1%;vertical-align:top"> </td> <td style="vertical-align:top;text-align:left"><div style=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt;text-align:justify">Relative NAREIT FFO per diluted share multiple premium </div></td></tr></table><div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt;border-spacing:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:5%"> </td> <td style="width:3%;vertical-align:top;text-align:left">•</td> <td style="width:1%;vertical-align:top"> </td> <td style="vertical-align:top;text-align:left"><div style=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:10pt;text-align:justify">Individual performance including consideration of things such as leasing and occupancy activity, investment activity and advancement of ESG objectives </div></td></tr></table><div style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL;text-align:justify">Please see the Compensation Discussion and Analysis for more information on these measures and how they are taken into account in determining compensation for each of our NEOs. </div> Return on invested capital Relative total shareholder return compared to the BBRESHOP Index Relative NAREIT FFO per diluted share multiple premium Individual performance including consideration of things such as leasing and occupancy activity, investment activity and advancement of ESG objectives