Board Justification

Our objective is to closely align executive compensation with the creation of stockholder value, with a balanced focus on both short-term and long-term performance and a substantial emphasis on total stockholder return. We believe our executive compensation policies and practices appropriately align the interests of our executives with those of our stockholders through a combination of base salary, annual incentive compensation awards and long-term incentive equity awards.

Board Justification

Mr. Hsieh's 2024 annual bonus was to be paid, in an amount no less than his target annual bonus, on or before December 31, 2024, and any amounts that became payable above the target level based on the actual level of achievement of the applicable performance criteria were paid to Mr. Hsieh at the same time annual bonuses are paid to other senior executives of the Company.

Board Justification

Matching Contributions under 401(k) Plan $13,800, Life Insurance Premiums $3,490, Other Welfare Benefit Premiums $15,172, Use of Private Aircraft $71,846

Board Justification

This number represents the vesting of performance-based LTIP Units for the performance period ending December 31, 2024 and service-based LTIP Units on December 31, 2024.