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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

TANGER INC.

SKT · FY2025

MISALIGNED

CEO Package

$7.1M

Pay Ratio

—

Stephen Yalof

Pay rose +3.5% while TSR fell -25.4 pts

CEOTotal Compensation — All Companies

PLD$15.2MSBAC$11.4MSKT$7.1M

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 2.1x SKT.
SKT reads misaligned, 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.

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%

SKT

Stephen Yalof

$7.1M

base salary13%
stock awards58%
non-equity incentive compensation25%
other compensation4%

Quick Comparison

CompanyCEOLatest YearTotal Comp
Prologis, Inc.(PLD)Daniel Letter2025$15.2M
SBA Communications Corporation(SBAC)Brendan T. Cavanagh2025$11.4M
TANGER INC.(SKT)Stephen Yalof2025$7.1M

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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