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David J. Oakes, born in February 1979, served as the CEO of SITE Centers Corporation after previously holding key financial roles in the same company. He became CEO in February 2015, having built a solid foundation of experience as President...

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David J. Oakes

Ex-CEO of SITE Centers Corporation

Education

Not specified

Field of Expertise

Finance & Banking - Finance

Sector of Economy

Real Estate

Born

February 10, 1979 - 46 years ago

CEO of SITE Centers Corporation for

1 year 5 months (Feb 2015 - Jul 2016)

Previous Experience

Executive Vice President of Finance and Chief Investment Officer; Senior Executive Vice President and Chief Financial Officer.

Holdings

See how much did David J. Oakes make over time.

David J. Oakes had substantial holdings tied to SITE Centers Corporation during his time as CEO. At the peak, his vested stock amounted to over 591,000 USD when he separated from the company, which highlights the strong link between his...

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Insider Trading

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Compensation History

See how much did David J. Oakes make over time.

During his tenure at SITE Centers, David J. Oakes saw a varied compensation structure. For 2015, his total compensation approached $1.8 million, significantly bolstered by a bonus reflecting performance targets met that year. Yet, in 2016, as he was transitioning out of the company, his total compensation dropped to about $331,000 primarily due to no bonuses being awarded. His compensation included a combination of base salary, other perks like contributions to a retirement plan, and vested stock which brought his overall earnings into sharp focus, showcasing how executives are incentivized to align with company performance. The contrasting years of his compensation packages underscore the volatility at top executive levels and the direct relationship to their career longevity and company performance.

Year

2016

Total Compensation

$1.04M

Salary

$435.10K

Board Justification

The compensation philosophy aims to align executive compensation with company performance and shareholder interests, providing competitive salaries and performance-based incentives.

Bonus

$0.00

Board Justification

No bonus was awarded for 2016 due to separation from the company on July 8, 2016.

Other

$17.50K

Board Justification

Other compensation includes matching contributions to the 401(k) plan, disability insurance premiums, and country club expenses.

Restricted Stock

$591.88K(35.08K RSU)

Board Justification

35,078 shares of stock vested upon separation from the company on July 8, 2016.

Performance Metrics

Performance metrics included Operating FFO Growth, Same Store EBITDA Growth, and individual performance objectives.

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