Not independent
Tenure on this board
22.9 yrs
8 nominees · 3 ballot items.
Shareholders will vote to (1) elect eight trustees to serve until the 2027 annual meeting, (2) cast a non-binding advisory (“say-on-pay”) vote to approve the named executive officers’ compensation as disclosed in the proxy, and (3) ratify Deloitte & Touche LLP as the Company’s independent registered public accounting firm for fiscal year 2026.
Elect eight trustees (the eight current nominees) to serve until the 2027 Annual Meeting of Shareholders or their earlier removal or resignation and until their successors qualify.
Non-binding, advisory “say-on-pay” vote to approve the compensation of the Trust’s named executive officers as disclosed in the proxy statement (Compensation Discussion and Analysis, Summary Compensation Table and related tables).
This proposal asks shareholders to cast a non-binding advisory vote to approve the compensation paid to LXP’s named executive officers as disclosed in the 2026 proxy statement. Management is submitting the advisory resolution to comply with the Dodd-Frank Act and SEC rules requiring a say-on-pay vote; although the vote is non-binding, the Board and the Compensation Committee pledge to review and consider the results and shareholder feedback when setting future pay practices. The company’s compensation program emphasizes pay-for-performance, with a significant portion of executive pay tied to objective financial and strategic metrics and long-term performance-based equity awards tied to relative TSR, and the proxy highlights strong shareholder engagement and prior high say-on-pay support (approximately 96% in 2025). The Board frames the program as market-aligned, balanced between annual cash incentives and three-year performance-based equity awards, with clawback provisions, share ownership guidelines, and restrictions on hedging/pledging. Management argues that the program promotes retention, aligns management and shareholder interests, and balances short- and long-term objectives through metrics like Adjusted Company FFO, same-store NOI, balance sheet targets, and TSR-based long-term awards. Investors should weigh that the vote is advisory and that the Board retains discretion but is sensitive to investor sentiment; repeated weak shareholder support typically triggers substantive engagement and potential compensation design changes. Given the company’s recent operating results, disposition activity, balance sheet strengthening and the Compensation Committee’s description of rigorous benchmarking and independent advisor use, the Board’s recommendation to vote FOR reflects their view that the disclosed compensation structure supports LXP’s strategy while aligning pay and performance. The outcome will inform future determinations but will not itself compel contractual changes, as the vote is advisory under applicable law.
Ratify the appointment of Deloitte & Touche LLP as LXP’s independent registered public accounting firm for the fiscal year ending December 31, 2026.
| # | Owner | % of shares | Shares | Value |
|---|---|---|---|---|
| 1 | BlackRock, Inc. | 11.44% | 6,744,968 | $312M |
| 2 | VANGUARD PORTFOLIO MANAGEMENT LLC | 10.07% | 5,937,288 | $275M |
| 3 | STATE STREET CORP | 5.59% | 3,295,195 | $155M |
| 4 | VANGUARD CAPITAL MANAGEMENT LLC | 4.34% | 2,561,284 | $118M |
| 5 | BlackRock, Inc. | 4.02% | 2,368,665 | $110M |
| 6 | LASALLE INVESTMENT MANAGEMENT SECURITIES LLC | 3.10% | 1,828,528 | $85M |
| 7 | GEODE CAPITAL MANAGEMENT, LLC | 2.32% | 1,365,013 | $63M |
| 8 | CHARLES SCHWAB INVESTMENT MANAGEMENT INC | 2.14% | 1,259,609 | $58M |
| 9 | CENTERSQUARE INVESTMENT MANAGEMENT LLC | 2.04% | 1,202,640 | $56M |
| 10 | Sumitomo Mitsui Trust Group, Inc. | 1.97% | 1,159,623 | $54M |
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