Nia Mahbod 4

What Happened

• Nia Mahbod, CEO of Veris Residential (VRE), received equity awards on February 19, 2026 consisting of three grants of restricted stock units (RSUs). Each grant was for 148,248 units, for a total of 444,744 RSUs. The awards were granted at $0.00 per unit (i.e., no cash paid at grant) and represent contingent rights to receive one share of VRE common stock upon vesting.

Key Details

• Transaction date: February 19, 2026. Form 4 filed February 23, 2026 (within the required 2 business days).
• Grants: three types, each 148,248 RSUs (total 444,744):
  • TVRSU (time-vesting): vests in three equal annual installments beginning Feb 19, 2027. (F1, F2)
  • PVRSU (performance-vesting): 50% tied to absolute TSR and 50% tied to TSR relative to 11 peer REITs over a three-year performance period; vesting range 0%–160% of target. (F3, F4)
  • OPVRSU (outperformance-vesting): vests (0%–100%) on Feb 18, 2029 based on adjusted FFO per share for fiscal 2028. (F5, F6)
• Price and value: $0.00 per unit at grant. The filing reports the award grant, not a cash purchase or sale.
• Shares owned after transaction: not disclosed in the provided filing details.

Context

• These are restricted stock unit awards (derivative securities). RSUs are contingent rights to receive shares in the future if vesting and performance conditions are met; they do not represent immediately transferable shares or a cash purchase.
• Such grants are routine compensation for executives and do not by themselves signal an open-market purchase or sale by the insider. They become economically meaningful only if and when vesting and any performance conditions are achieved.