Strategies for Multi-Family Real Estate Capital Allocation
AIR
COMMUNITIES
The most efficient and most effective way to allocate capital to multi-family real estate
5 Exceptional, long-tenured Management team strengthened with new talent
ā
Strong Management Alignment
90% of CEO compensation linked to
performance with 100% of LTI based on
3-year forward relative TSR performance
Other AIR executives have 66% of LTI
"at risk" based on the same 3-year
forward relative TSR
Required stock ownership of >5x base
salary for our CEO, President, and CFO,
and 4x for other executive officers
ā Peer-leading(1) "Say on Pay" with
highest level of support among multi-
family peers over the last five years
Historical "Say On Pay" Shareholder Support % (1)
Director &
Chief Executive Officer
President &
General Counsel
President,
Executive Vice President
Property Operations
& Chief Financial Officer
Terry Considine
51+ Years of
AIR Experience
Lisa Cohn
20+ Years of
AIR Experience
Keith Kimmel
20+ Years of
AIR Experience
Paul Beldin
14+ Years of
AIR Experience
Core of executive management has spent the last 14+ years working together
Senior Vice President,
Chief Corporate
Responsibility Officer
Executive Vice President,
Strategy, Capital
Allocation, & Co-CIO
Executive Vice President,
CO-CIO
Senior Vice President,
Capital Markets
(1)
98.5% 98.7%
97.8%
97.9%
97.0%
93.2%
92.6%
92.6%
92.4%
92.0%
2017
2018
2019
2020
2021
Patti Shwayder
19+ Years AIR Experience
John McGrath
6+ Years of AIR Experience
AIR
Peer Avg.
Joshua Minix
Joined Q3 2021
Matthew O'Grady
Joined Q4 2021
Identified gaps created by the Separation and strengthened ourselves
with new talent to support transactions and external growth
Per company filings. Peers defined as AVB, CPT, EQR, ESS, MAA, and UDR. Coastal peers defined as AVB, EQR, ESS, and UDR. Sunbelt peers defined as CPT and MAA.
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