Summary by Futu AI
On January 5, 2024, Alexandria Real Estate Equities Inc. announced amendments to the compensatory arrangements for two of its top executives. The company entered into a letter amendment with Joel S. Marcus, the Executive Chairman, and Peter M. Moglia, the CEO and Chief Investment Officer. The amendments involve changes to the long-term incentive compensation awards in the form of restricted shares of the company's common stock. For Marcus, the target value of each annual award has been increased from $2,750,000 to $3,600,000, with changes to the vesting period and performance-based stock criteria. Similarly, Moglia's target award value has been raised from $4,500,000 to $5,500,000, with corresponding adjustments to vesting and performance metrics. Both amendments include new trading restrictions on vested shares. These changes will be filed as exhibits to the company's annual report on Form 10-K for the fiscal year ending December 31, 2023.