Real Estate
Claros Mortgage Trust Executive Compensation (FY25)
CMTG · New York, NY · Executive and director compensation, fiscal 2022 to 2025
Chief executive, fiscal 2025 ◇ Richard Mack | Latest say-on-pay support = June 3, 2026 |
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The paid brief on Claros Mortgage Trust
Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
From $499 for the board report; $2,400 for both.
Data as of October 19, 2026Latest filing (8-K): June 5, 2026
8 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
Velarion Member, one year
112 figures on this page: 108 cited to the filing that reported them, 4 calculated from figures it prints. See the citations
This company is not required to report a chief executive pay ratio.
More on Claros Mortgage Trust
Five data products on this company. Each one is requested through the developer setup page.
- Peer Disclosure Audit$5The comparison companies this board named, each one tied to the filing that lists it.How to get Peer Disclosure Audit
- Governance Provisions PullfreeThe governance provisions as the proxy states them: board leadership, committee membership, and shareholder rights.How to get Governance Provisions Pull
- Say-on-Pay Risk Signal$9A risk band for the next say-on-pay vote, with the support history and the peer comparison behind it.How to get Say-on-Pay Risk Signal
- NEO Comp Report$24Every named executive officer’s pay by element and year, with the citation behind each figure.How to get NEO Comp Report
- Board Comp Report$24What each non-employee director was paid, the standing fee schedule, and the equity each one holds at year end.How to get Board Comp Report
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Richard Mack: $2,556,914 → $757,249 (70.4% lower)
Frequently asked questions
Answers drawn from the data on this page.
Who is Claros Mortgage Trust's chief executive and what were they paid?
Richard Mack, Chief Executive Officer and Chairman, received $757,249 in total compensation for fiscal 2025. Mack's total was 70.4% lower than the $2,556,914 reported for fiscal 2024.
What was Claros Mortgage Trust's say-on-pay result?
Shareholders recorded 66.3% support for the say-on-pay proposal at the meeting held June 3, 2026 for fiscal 2025.
Which companies are in Claros Mortgage Trust's peer group?
The disclosed peer group names Apollo Commercial Real Estate Finance, Ares Commercial Real Estate Corporation, Blackstone Mortgage Trust, BrightSpire Capital and Granite Point Mortgage Trust, among others.
Executive compensation
Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Richard Mack Chief Executive Officer and Chairman | — | — | ◇ | — | — | — | — | ◇ |
Michael McGillis President and former Chief Financial Officer | — | — | ◇ | — | — | — | — | ◇ |
Priyanka Garg Executive Vice President, Portfolio and Asset Management | — | — | ◇ | — | — | — | — | ◇ |
Kevin Cullinan Executive Vice President, Originations | — | — | ◇ | — | — | — | — | ◇ |
J. Darryl Siegel Executive Vice President, General Counsel and Secretary | ◇ | ◇ | ◇ | — | — | — | — | ◇ |
Jai Agarwal Chief Financial Officer | ◇ | ◇ | ◇ | — | — | — | — | ◇ |
Fiscal 2023
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Richard Mack Chief Executive Officer | — | — | ◇ | — | — | — | — | ◇ |
Kevin Cullinan Executive Vice President, Originations | — | — | ◇ | — | — | — | — | ◇ |
Priyanka Garg Executive Vice President, Portfolio and Asset Management | — | — | ◇ | — | — | — | — | ◇ |
Michael McGillis President and Chief Financial Officer | — | — | ◇ | — | — | — | — | ◇ |
J. Darryl Siegel Executive Vice President, General Counsel and Secretary | ◇ | ◇ | ◇ | — | — | — | — | ◇ |
Jai Agarwal Former Chief Financial Officer Departed during or after this year | ◇ | — | — | — | — | — | — | ◇ |
Fiscal 2024
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Richard Mack Chief Executive Officer and Chairman | — | — | ◇ | — | — | — | — | ◇ |
Priyanka Garg Executive Vice President, Portfolio and Asset Management Executive Vice President, Portfolio and Asset Management | — | — | ◇ | — | — | — | — | ◇ |
Kevin Cullinan Former Executive Vice President, Originations Former Executive Vice President, Originations Departed during or after this year | — | — | ◇ | — | — | — | — | ◇ |
J. Darryl Siegel Executive Vice President General Counsel and Secretary Executive Vice President General Counsel and Secretary | ◇ | ◇ | ◇ | — | — | — | — | ◇ |
Michael McGillis President, Chief Financial Officer and Director | — | — | ◇ | — | — | — | — | ◇ |
Fiscal 2025
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
J. Darryl Siegel Executive Vice President, General Counsel and Secretary | ◇ | ◇ | ◇ | — | — | — | — | ◇ |
Richard Mack Chief Executive Officer and Chairman | — | — | ◇ | — | — | — | — | ◇ |
Priyanka Garg Executive Vice President, Portfolio and Asset Management | — | — | ◇ | — | — | — | — | ◇ |
Michael McGillis President and Chief Financial Officer | — | — | ◇ | — | — | — | — | ◇ |
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.
Equity awards granted
Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
| Officer | Award | Grant date | Threshold units | Target units | Units granted | Maximum units | Exercise price | Grant date fair value |
|---|---|---|---|---|---|---|---|---|
| Michael McGillis | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Priyanka Garg | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Richard J. Mack | RSU | ◇ | — | — | ◇ | — | — | ◇ |
Fiscal 2022, 2023, 2024 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.
Outstanding awards
Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
| Officer | Award | Unvested units | Market value of unvested units | Exercise price | Expires |
|---|---|---|---|---|---|
| Richard Mack | RSU | ◇ | ◇ | — | — |
| Michael McGillis | RSU | ◇ | ◇ | — | — |
| Priyanka Garg | RSU | ◇ | ◇ | — | — |
| J.D. Siegel | RSU | ◇ | ◇ | — | — |
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.
Director compensation
What each non-employee director was paid.
Fiscal 2025
| Director | Fees earned in cash | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|
W. Edward Walter III Lead independent director | ◇ | ◇ | — | — | — | — | ◇ |
Vincent Tese | ◇ | ◇ | — | — | — | — | ◇ |
Derrick D. Cephas | ◇ | ◇ | — | — | — | — | ◇ |
Mary Haggerty | ◇ | ◇ | — | — | — | — | ◇ |
Pamela Liebman | ◇ | ◇ | — | — | — | — | ◇ |
Steven L. Richman | ◇ | ◇ | — | — | — | — | ◇ |
Richard Mack, Andrew Silberstein, Michael McGillis and Denise Olsen served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.
Director fee schedule
The standing retainers and premiums the board pays, as published.
| Board cash retainer | ◇ |
| Board equity retainer | ◇ |
| Lead independent director premium | ◇ |
| Audit committee chair | ◇ |
| Audit committee member | ◇ |
| Compensation committee chair | ◇ |
| Compensation committee member | ◇ |
| Nominating and governance chair | ◇ |
| Nominating and governance member | ◇ |
Disclosed peer group
The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
- Apollo Commercial Real Estate Finance ARI
- Ares Commercial Real Estate Corporation ACRE
- Blackstone Mortgage Trust BXMT
- BrightSpire Capital BRSP
- Granite Point Mortgage Trust GPMT
- KKR Real Estate Finance Trust KREF
- Ladder Capital Corp LADR
- Ready Capital Corporation RC
- Starwood Property Trust STWD
- TPG RE Finance Trust TRTX
Say-on-pay history
Shareholder support for the compensation program, by year.
| Year | Meeting | Support | Votes for | Votes against | Abstentions |
|---|---|---|---|---|---|
| 2025 | June 3, 2026 | = | ◇ | ◇ | ◇ |
| 2024 | June 4, 2025 | = | ◇ | ◇ | ◇ |
| 2023 | June 4, 2024 | = | ◇ | ◇ | ◇ |
| 2022 | June 1, 2023 | = | ◇ | ◇ | ◇ |
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- Richard Mack (Chief Executive Officer and Chairman), FY2025 total compensation $757,249 (base salary $0) [exec_comp, SEC accession 0001193125-26-170371, filed 2026-04-22]What this page does not include
Everything above is a fact Claros Mortgage Trust disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Claros Mortgage Trust sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $499Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion IntelligenceSay-on-pay responsiveness
Claros Mortgage Trust recorded a low support level. The responsiveness analysis covers what the company said it would do, what it did, and how that compares with the companies that recovered their vote.
Responsiveness analysisAdviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Velarion IntelligenceCitations
Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
112 figures on this page: 108 cited to the filing that reported them, 4 calculated from figures it prints.
108 cited to the filing
4 calculated from the filing
Documents cited
- 0001193125-26-259579Item 5.07 Submission of Matters to a Vote of Security Holders
- 0001193125-26-170371COMPENSATION OF DIRECTORS · Director Compensation table · Grants of Plan-Based Awards · OUTSTANDING EQUITY AWARDS AT 2025 FISCAL YEAR-END · and 1 more section
- 0000950170-25-082016Item 5.07 Submission of Matters to a Vote of Security Holders
- 0001193125-25-089218SUMMARY COMPENSATION TABLE
- 0000950170-24-071503Item 5.07 Submission of Matters to a Vote of Security Holders
- 0001193125-24-113915SUMMARY COMPENSATION TABLE
- 0000950170-23-026655Item 5.07 Submission of Matters to a Vote of Security Holders
- 0001193125-23-108386SUMMARY COMPENSATION TABLE
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Claros Mortgage Trust executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/CMTG (accessed 2026).
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The paid brief for Claros Mortgage Trust
Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
From $499 for the board report; $2,400 for both.
8 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
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Real Estate rankings
Peers Claros Mortgage Trust discloses
The companies named in CMTG's own disclosed peer group.
Terms on this page
Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.
Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
author = {{Velarion Company Intelligence}},
title = {Velarion database: executive and board compensation data},
year = {2026},
version = {2026Q3},
doi = {10.5281/zenodo.22283854},
publisher = {Zenodo},
url = {https://doi.org/10.5281/zenodo.22283854}
}