SAM ZELL - Corporate Board Profile

Equity Commonwealth

Filing Date	Source Excerpt
2014-06-23	Sam Zell Chairman of the Board of Trustees
2015-04-30	Sam Zell Chairman of the Board of Trustees
2016-04-21	Sam Zell has been our trustee and Chairman of the Board since May 2014. ... Our Board determined that Mr. Zell should serve on our Board based on his experience of over 40 years as a chairman, director and executive of various companies... The table below sets forth information regarding trustee compensation for the fiscal year ended December 31, 2015. ... Sam Zell Fees Earned or Paid in Cash ($): —, Stock Awards ($): 2,603,468, Total ($): 2,603,468.
2017-04-21	Sam Zell has been our trustee and Chairman of the Board since May 2014. ... Mr. Zell is also the founder and has served as the Chairman of Equity Residential ... Mr. Zell is also the Chief Executive Officer and the Chairman of Equity Group ... On January 26, 2016, as compensation for his service as Chairman of the Board for the 2015-2016 term, the Compensation Committee approved the grant of LTIC Program awards to Mr. Zell ... The table below sets forth information regarding trustee compensation for the fiscal year ended December 31, 2016 ... Sam Zell - Total: $2,590,650.
2018-04-25	Sam Zell has been our trustee and Chairman of the Board since May 2014. ... Mr. Zell does not receive any cash compensation. Instead, Mr. Zell's compensation for serving as Chairman of the Board is designed to directly align his interests with those of our shareholders and is solely comprised of an annual grant of equity awards ... The aggregate grant date fair value of Mr. Zell's annual grant of equity on January 24, 2017 equaled approximately $2.4 million ... The table below sets forth information regarding trustee compensation for the fiscal year ended December 31, 2017 ... Sam Zell - Fees Earned or Paid in Cash ($): -; Stock Awards ($): 2,355,099; Total ($): 2,355,099.
2019-04-25	Sam Zell serves as our Chairman of the Board and provides invaluable contributions to the Company given his unique leadership capabilities along with his extraordinary real estate and business experience... Mr. Zell does not receive any cash compensation for serving as Chairman of the Board. Instead, to directly align his interests with those of our shareholders, Mr. Zell's compensation is solely comprised of an annual grant of equity awards... The aggregate grant date fair value of Mr. Zell's annual grant of equity on January 29, 2018 equaled approximately $2.3 million... Mr. Zell does not receive the compensation or expense reimbursement discussed above.
2020-04-24	Sam Zell has been our trustee and Chairman of the Board since May 2014. Mr. Zell is also the founder and has served as the Chairman of Equity Residential (NYSE: EQR), a multifamily real estate investment trust, and Equity LifeStyle Properties, Inc. (NYSE: ELS), a real estate investment trust focused on manufactured home communities, since 1993. Mr. Zell is also the Chairman of Equity Group Investments (“Equity Group”), a private entrepreneurial investment firm he founded more than 50 years ago. He is also founder and Chairman of Equity International, a private investment firm focused on real estate-related companies outside the U.S., which introduced the first Brazilian and Mexican real estate companies, respectively, to NYSE. Since 1985, Mr. Zell has served as Chairman of the Board of Anixter International, Inc. (NYSE: AXE), which is subject to a pending merger with WESCO International, Inc. Mr. Zell’s position as chairman of Anixter will terminate upon completion of the merger which is currently expected to occur in the second or third quarter of 2020. Mr. Zell has also served as Chairman of the Boardof Covanta Holding Corporation (NYSE: CVA) since 2005. Previously, Mr. Zell founded and served as Chairman of Equity Office Properties Trust, which was sold in February 2007 for $39 billion in the largest private equity transaction at the time. Mr. Zell served as Chairman of Capital Trust, Inc., a real estate finance company, from 2003 to 2012. Through the Zell Family Foundation, he has led the sponsorship of several leading entrepreneurship programs, including the Zell/Lurie Institute for Entrepreneurial Studies at University of Michigan’s Ross School of Business, the Zell Fellows Program at Northwestern University’s Kellogg School of Management, and the Zell Entrepreneurship Center at the Interdisciplinary Center Herzliya (IDC). The Zell Global Entrepreneur Network (ZGEN) unites the students and alumni of these programs and actively provides them with connections, opportunities, mentorship and support. Mr. Zell also sponsors the Samuel Zell/Robert Lurie Real Estate Center at University of Pennsylvania’s Wharton Real Estate Center. Mr. Zell was recognized in 2017 by Forbes as one of the 100 Greatest Living Business Minds. He holds a J.D. and a B.A. from the University of Michigan. Our Board determined that Mr. Zell should serve on our Board based on his experience of over 40 years as a chairman, director and executive of various companies, his management of billions of dollars in global investments, his strong track record of stewarding companies towards the maximization of their potential and being recognized as a founder of the modern real estate investment trust (“REIT”) industry and a leading driver for increased transparency and disclosure by public companies. Mr. Zell does not receive any cash compensation for serving as Chairman of the Board. Instead, to directly align his interests with those of our shareholders, Mr. Zell’s compensation is solely comprised of an annual grant of equity awards that generally have the same terms and conditions as the LTIC Program awards issued to our named executive officers. The aggregate grant date fair value of Mr. Zell’s annual grant of equity on January 29, 2019 equaled approximately $2.331 million (and reflects an increase from his January 29, 2018 grant, which had an aggregate grant date fair value of approximately $2.330 million), and included the following key terms: 33% of Mr. Zell’s target LTIC Program award was granted in the form of time-based LTIC Shares. 67% of Mr. Zell’s target LTIC Program award was granted in the form of performance-based LTIC RSUs. Mr. Zell’s LTIC Program awards generally have the same terms and conditions (including time and performance-based vesting conditions) as the LTIC Program awards granted to our named executive officers, as described above in the section entitled “Compensation Discussion and Analysis – Elements of Compensation – Long Term Equity Compensation,” except that Mr. Zell’s LTIC Shares and LTIC RSUs (i) vest on a pro rata basis if Mr. Zell’s service terminates due to his death and (ii) vest in full if Mr. Zell dies or is no longer Chairman of the Board within 12 months of a “Change in Control” transaction (as such term is defined in Mr. Zell’s equity award agreement) in which the awards are assumed by the acquirer or surviving entity in such a transaction.
2021-04-27	Sam Zell has been our trustee and Chairman of the Board since May 2014. Mr. Zell is also the founder and has served as the Chairman of Equity Residential (NYSE: EQR), a multifamily real estate investment trust, and Equity LifeStyle Properties, Inc. (NYSE: ELS), a real estate investment trust focused on manufactured home communities, since 1993. Mr. Zell is also the Chairman of Equity Group Investments (EGI), a private entrepreneurial investment firm he founded more than 50 years ago. He is also founder and Chairman of Equity International, a private investment firm focused on real estate-related companies outside the U.S., which introduced the first Brazilian and Mexican real estate companies, respectively, to NYSE. Mr. Zell has also served as Chairman of the Board of Covanta Holding Corporation (NYSE: CVA) since 2005, and Chairman of the Board of Equity Distribution Acquisition Corp. (NYSE: EQD) since 2020. Previously, Mr. Zell founded and served as Chairman of Equity Office Properties Trust (EOP), which was sold in February 2007 for $39 billion in the largest private equity transaction at the time. Mr. Zell also previously served as Chairman of Anixter International Inc., a leading global provider of communications, security, and wire and cable products, from 1985 to 2020. Through the Zell Family Foundation, he has led the sponsorship of several leading entrepreneurship programs, including the Zell/Lurie Institute for Entrepreneurial Studies at University of Michigan’s Ross School of Business, the Zell Fellows Program at Northwestern University’s Kellogg School of Management, and the Zell Entrepreneurship Center at the Interdisciplinary Center Herzliya (IDC). The Zell Global Entrepreneur Network (ZGEN) unites the students and alumni of these programs and actively provides them with connections, opportunities, mentorship and support. Mr. Zell also sponsors the Samuel Zell/Robert Lurie Real Estate Center at University of Pennsylvania’s Wharton Real Estate Center. Mr. Zell was recognized in 2017 by Forbes as one of the 100 Greatest Living Business Minds. He holds a J.D. and a B.A. from the University of Michigan. Mr. Zell does not receive any cash compensation for serving as Chairman of the Board. Instead, to directly align his interests with those of our shareholders, Mr. Zell’s compensation is solely comprised of an annual grant of equity awards that generally have the same terms and conditions as the LTIC Program awards issued to our named executive officers. The aggregate grant date fair value of Mr. Zell’s annual grant of equity on January 27, 2020 equaled approximately $2.30 million.
2022-04-26	Mr. Zell does not receive any cash compensation for serving as Chairman of the Board. Instead, to directly align his interests with those of our shareholders, Mr. Zell’s compensation is solely comprised of an annual grant of equity awards that generally have the same terms and conditions as the LTIC Program awards issued to our named executive officers. The aggregate grant date fair value of Mr. Zell’s annual grant of equity on January 25, 2021 equaled approximately $2.46 million.
2023-04-25	Sam Zell has been our trustee and Chairman of the Board since May 2014. Mr. Zell is also the founder and has served as the Chairman of Equity Residential (NYSE: EQR), a multifamily real estate investment trust, and Equity LifeStyle Properties, Inc. (NYSE: ELS), a real estate investment trust focused on manufactured home communities, since 1993. ... Mr. Zell does not receive any cash compensation for serving as Chairman of the Board. Instead, to directly align his interests with those of our shareholders, Mr. Zell’s compensation is solely comprised of an annual grant of equity awards that generally have the same terms and conditions as the LTIC Program awards issued to our named executive officers. The aggregate grant date fair value of Mr. Zell’s annual grant of equity on January 26, 2022, calculated in accordance with FASB ASC Topic 718, which considers market conditions associated with the performance-based vesting requirements of his LTIC RSUs, equaled approximately $2.5 million.