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Apollo Commercial Real Estate Finance, Inc.

ARI · FY2025

MIXED

CEO Package

$1.1M

Pay Ratio

—

Stuart A. Rothstein

Pay and TSR both rose, but not in lockstep

Prologis, Inc.

PLD · FY2025

ALIGNED

CEO Package

$15.2M

Pay Ratio

—

Daniel Letter

Returns outran pay growth by +17.9 pts

SBA Communications Corporation

SBAC · FY2025

MIXED

CEO Package

$11.4M

Pay Ratio

—

Brendan T. Cavanagh

Pay and TSR both rose, but not in lockstep

CEOTotal Compensation — All Companies

ARI$1.1MPLD$15.2MSBAC$11.4M

All values are grant-date fair value as reported in proxy statements.

Key Differences

The fastest way to read this comparison before dropping into the tables.

PLD carries the largest package at $15.2M, about 14.0x ARI.
ARI reads mixed, while PLD looks aligned.

Pay Component Breakdown

Latest CEO package mix by company. This stays on the CEO package even if the chart above is showing Top 5 pay.

ARI

Stuart A. Rothstein

$1.1M

stock awards100%

PLD

Daniel Letter

$15.2M

base salary5%
stock awards82%
other compensation0%

SBAC

Brendan T. Cavanagh

$11.4M

base salary8%
stock awards76%
non-equity incentive compensation15%
other compensation0%

Quick Comparison

CompanyCEOLatest YearTotal Comp
Apollo Commercial Real Estate Finance, Inc.(ARI)Stuart A. Rothstein2025$1.1M
Prologis, Inc.(PLD)Daniel Letter2025$15.2M
SBA Communications Corporation(SBAC)Brendan T. Cavanagh2025$11.4M

Note: All compensation values shown are grant-date fair value as reported in proxy statements. Direct comparisons should account for differences in company size, industry, and compensation structure.

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