First Industrial ratifies bonus plan
First Industrial Realty Trust’s board ratified its 2026 Employee Bonus Plan with criteria set by the Compensation Committee and disclosed in an SEC filing — a concrete example of how compensation committees are formalizing performance‑linked incentives. The filing underscores the expectation that committees document transparent, outcome‑based pay frameworks. (za.investing.com)
Awards under the 2026 plan are tied to three specific performance metrics: NAREIT funds from operations (FFO) per share, same‑store net operating income (SS NOI) growth and discretionary objectives. (investing.com)) The disclosed scorecard allocates 55% weighting to FFO per share, 30% to same‑store NOI growth and 15% to discretionary objectives. (trendonify.com)) Payout funding for each of those performance categories is structured to range from 0% up to 125% of the bonus opportunity depending on whether specified performance thresholds are met. (trendonify.com)) Eligible participants named in the filing include the chief executive officer and certain senior executive officers, with awards to be issued from an incentive bonus pool under the company’s incentive compensation plan. (ebs.publicnow.com)) The timing of the disclosure sits alongside a flurry of proxy materials filed in mid‑March — including DEFA14A and an exempt solicitation notice — as the company approaches its 2026 annual meeting. (sec.gov)) Activist investor Land & Buildings has publicly challenged recent board actions, framing the bonus plan and a contemporaneous $250 million buyback as contested governance moves within an ongoing proxy fight. (ainvest.com))
