ALEXANDRIA REAL ESTATE EQUITIES, INC. 8-K

What Happened
Alexandria Real Estate Equities, Inc. announced on Jan 9, 2026 that it amended the executive employment agreement for Executive Chairman Joel S. Marcus to change his 2025 long‑term incentive (LTI) award. The amendment makes the entire 2025 LTI Grant performance‑based (no time‑based vesting) while keeping the target value at $3,600,000 and increasing the potential maximum payout to $5,400,000. The company also reported that, effective Jan 1, 2026 (elected Jan 9, 2026), John Hart Cole was promoted to Co‑President & Co‑Regional Market Director – Seattle; his base salary will increase commensurately, with no other changes to employment terms announced.

Key Details

• Amendment executed Jan 9, 2026 to the Employment Agreement (originally effective Jan 1, 2015, with multiple prior amendments).
• 2025 LTI Grant: target value remains $3,600,000; previously half time‑based / half performance‑based (combined max $4,500,000).
• Under the amendment, 100% of the 2025 Grant is performance‑vesting; maximum value = $5,400,000 (150% of the $3.6M target). Amendment applies only to the 2025 Grant, not future LTI grants.
• John Hart Cole promoted to Co‑President & Co‑Regional Market Director – Seattle effective Jan 1, 2026; he has held senior Seattle roles since 2017 and will receive an increased base salary only.

Why It Matters
This filing changes how the Executive Chairman’s 2025 compensation vests: it ties the full award to corporate performance, potentially strengthening alignment between executive pay and company results. While the maximum payout for the 2025 award increases, payment is contingent on meeting performance criteria rather than automatic time‑based vesting. The promotion of John Cole signals internal leadership continuity for the Seattle market with minimal immediate compensation impact beyond a higher base salary. For investors, these are governance and compensation developments to note for potential impacts on future compensation expense and management incentives.