Simon Property Group, recognized as a major player in the shopping mall industry, has significantly increased its compensation package for General Counsel Steven Fivel. His total pay surged to $12.4 million last year, largely attributed to a special award aimed at acknowledging key leadership for their successful ventures in investments outside the company’s core operations.
A predominant portion of Fivel’s remuneration, amounting to $8.1 million, comes from stock awards as part of Simon’s “other platform investments” (OPI) initiative. These stock awards are structured to vest over a five-year period. This compensation strategy is detailed in Simon Property Group’s proxy statement recently filed with the SEC. For more insightful details, visit the Corporate Counsel article.