Key Highlights

  • Effective mid‑year, Vitale’s salary rises to $395,000 and Uleau’s to $205,000.
  • AMREP Corp (NYSE: AXR) filed a regulatory update detailing new compensation awards for its senior leaders.
  • The package combines immediate cash compensation with long‑term equity incentives, aiming to align executive interests with the company’s performance and retention goals.

AMREP Corp (NYSE: AXR) filed a regulatory update detailing new compensation awards for its senior leaders. The announcement outlines cash awards, equity grants, and base‑salary adjustments approved by the board.

Overview of the Compensation Package

The package combines immediate cash compensation with long‑term equity incentives, aiming to align executive interests with the company’s performance and retention goals.

Award to the Chief Executive Officer

Christopher V. Vitale, who serves as president and chief executive officer, was granted a cash bonus of $178,000. In addition, he received 8,700 restricted shares under the 2016 Equity Compensation Plan, structured in three equal tranches of 2,900 shares each.

Award to the Chief Financial Officer

Adrienne M. Uleau, vice president and chief financial officer, received a cash bonus of $64,000. She was also allocated 2,250 restricted shares under the same equity plan, to be delivered in portions over the vesting period.

Vesting of Restricted Shares

All restricted shares are subject to a vesting schedule that follows the calendar year. For the CEO, each 2,900‑share tranche becomes exercisable on July 13, 2027, with subsequent tranches following the same annual pattern.

Salary Adjustments Effective Mid‑Year

The board approved changes to base compensation, raising the chief executive officer’s salary to $395,000 and the chief financial officer’s salary to $205,000. These adjustments are intended to keep compensation competitive within the utility sector.

Governance and Timing

The compensation decisions were authorized by AMREP’s board in July. The awards are tied to continued service, ensuring that the executives benefit only if they remain employed through each vesting milestone. The company highlighted its commitment to transparent governance and alignment of executive rewards with long‑term shareholder value.

This article is for informational purposes only and does not constitute financial advice. Please consult a licensed financial adviser before making investment decisions.