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Elme Communities Executive Compensation (FY24)

ELME · Bethesda, MD · Executive and director compensation, fiscal 2022 to 2024
Chief executive, fiscal 2024
◇
Paul McDermott
Latest say-on-pay support
=
October 30, 2025
Chief executive pay ratio
◇
To the median employee
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Data as of October 21, 2026Latest filing (8-K): October 30, 2025
13 filings cited on this page
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203 figures on this page: 193 cited to the filing that reported them, 10 calculated from figures it prints. See the citations

More on Elme Communities

Five data products on this company. Each one is requested through the developer setup page.
What changed from fiscal 2023 to fiscal 2024
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Paul McDermott: $3,707,826 → $3,980,371 (7.4% higher)
Say-on-pay support: 95.6% → 93.0% (2.6 points lower)
CEO pay ratio: 49:1 → 52:1 (6.1% higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is Elme Communities' chief executive and what were they paid?
Paul McDermott, President and Chief Executive Officer, received $3,980,371 in total compensation for fiscal 2024. Compared with the $3,707,826 reported for fiscal 2023, McDermott's total was 7.4% higher.
What was Elme Communities' say-on-pay result?
Shareholders supported the say-on-pay proposal with 93.0% of votes cast for or against in favor at the meeting held October 30, 2025 for fiscal 2024.
Which companies are in Elme Communities' peer group?
The disclosed peer group includes Apartment Investment and Management Company, Armada Hoffler Properties, Inc., Brandywine Realty Trust, Centerspace and CTO Realty Growth, Inc., among others.
What is Elme Communities' chief executive pay ratio?
For fiscal 2024, the company reported a chief executive pay ratio of 52:1, against median employee compensation of $75,999.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Paul McDermott
President and Chief Executive Officer
◇—◇—◇—◇◇
Stephen Riffee
Executive Vice President and Chief Financial Officer
◇—◇—◇—◇◇
Susan Gerock
Senior Vice President and Chief Information Officer
◇—◇—◇—◇◇
Taryn Fielder
Senior Vice President, General Counsel and Corporate Secretary
◇—◇—◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Paul McDermott
President and Chief Executive Officer
◇—◇—◇—◇◇
Tiffany Butcher
Executive Vice President and Chief Operating Officer
◇—◇—◇—◇◇
Steven Freishtat
Executive Vice President and Chief Financial Officer
◇—◇—◇—◇◇
Susan Gerock
Senior Vice President and Chief Information Officer
◇—◇—◇—◇◇
William Hammond
Senior Vice President, Chief Administrative Officer and Treasurer
◇—◇—◇—◇◇
Stephen Riffee
Executive Vice President and Chief Financial Officer
◇—◇—◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Paul McDermott
President and Chief Executive Officer
◇—◇—◇—◇◇
Tiffany Butcher
Executive Vice President and Chief Operating Officer
◇—◇—◇—◇◇
Steven Freishtat
Executive Vice President and Chief Financial Officer
◇—◇—◇—◇◇
Susan Gerock
Senior Vice President and Chief Information Officer
◇—◇—◇—◇◇
William Hammond
Senior Vice President, Chief Administrative Officer and Treasurer
◇—◇—◇—◇◇
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 2024
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Paul T. McDermottRSU◇——◇——◇
Paul T. McDermottPSU◇—◇—◇—◇
Steven M. FreishtatPSU◇—◇—◇—◇
Steven M. FreishtatRSU◇——◇——◇
Susan L. GerockRSU◇——◇——◇
Susan L. GerockPSU◇—◇—◇—◇
Tiffany M. ButcherPSU◇—◇—◇—◇
Tiffany M. ButcherRSU◇——◇——◇
William HammondRSU◇——◇——◇
William HammondPSU◇—◇—◇—◇
Fiscal 2022, 2023 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 2024 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Tiffany ButcherPSU◇◇——
RSU◇◇——
Paul McDermottPSU◇◇——
RSU◇◇——
Steven FreishtatRSU◇◇——
PSU◇◇——
Susan GerockRSU◇◇——
PSU◇◇——
William HammondPSU◇◇——
RSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Severance and change in control

The terms as written in the agreements.
Paul McDermott
President and Chief Executive Officer · Employment agreement
Severance multiple◇
Severance base◇

Director compensation

What each non-employee director was paid.
Fiscal 2024
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Benjamin S. Butcher
Lead independent director
◇◇————◇
Ellen M. Goitia
◇◇————◇
Thomas H. Nolan Jr
◇◇————◇
Vice Adm. Anthony L. Winns (RET.)
◇◇————◇
Jennifer S. Banner
◇◇————◇
Susan Carras
◇◇————◇
Paul T. McDermott and Ron D. Sturzenegger served on the board in fiscal 2024 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◇
Total board 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◇
Equity is delivered as Common Shares.

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2024
  • Apartment Investment and Management Company AIV
  • Armada Hoffler Properties, Inc. STRS
  • Brandywine Realty Trust BDN
  • Centerspace CSR
  • CTO Realty Growth, Inc. CTO
  • Easterly Government Properties, Inc. DEA
  • Global Medical REIT Inc. PLYM
  • Independence Realty Trust, Inc. IRT
  • JBG SMITH Properties JBGS
  • Piedmont Office Realty Trust, Inc. PDM
  • UMH Properties, Inc. UMH
  • Veris Residential, Inc. VRE

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2024October 30, 2025=◇◇◇
2023May 30, 2024=◇◇◇
2022May 25, 2023=◇◇◇
2021May 26, 2022=◇◇◇
2020May 27, 2021=◇◇◇
2019May 28, 2020=◇◇◇
2018May 30, 2019=◇◇◇
2017May 31, 2018=◇◇◇
2016June 1, 2017=◇◇◇
2015May 12, 2016=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇

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Sample answer — “What is the CEO’s total compensation?”
- Paul McDermott (President and Chief Executive Officer), FY2024 total compensation $3,980,371 (base salary $750,000) [exec_comp, SEC accession 0000104894-25-000041, filed 2025-04-17]

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What this page does not include

Everything above is a fact Elme Communities disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Elme Communities 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.
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Written 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.
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Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
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Realizable 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.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
203 figures on this page: 193 cited to the filing that reported them, 10 calculated from figures it prints.
193 cited to the filing
10 calculated from the filing

Documents cited

  1. 0000104894-25-000111
  2. 0000104894-25-000041
    CEO Pay Ratio · Grants of Plan-Based Awards · Outstanding Equity Awards at Fiscal Year-End · Potential Payments upon Termination · and 2 more sections
  3. 0000104894-24-000062
    Proposal 3 of Elme’s Definitive Proxy Statement on Schedule 14A , as filed with the Securities and Exchange Commission on April 18, 2024, and are incorporated by reference into Item 5.02 of this Curre
  4. 0000104894-24-000032
    Summary Compensation Table
  5. 0000104894-23-000064
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0000104894-23-000040
    Summary Compensation Table
  7. 0000104894-22-000077
    Item 5.07 Submission of Matters to a Vote of Security Holders
  8. 0000104894-21-000060
    Item 5.07 Submission of Matters to a Vote of Security Holders
  9. 0000104894-20-000071
    Item 5.07 Submission of Matters to a Vote of Security Holders
  10. 0000104894-19-000083
    Item 5.07 Submission of Matters to a Vote of Security Holders
  11. 0001193125-18-181733
    Item 5.07 Submission of Matters to a Vote of Security Holders
  12. 0001193125-17-197040
    Item 5.07 Submission of Matters to a Vote of Security Holders
  13. 0000104894-16-000168
    Item 5.07 Submission of Matters to a Vote of Security Holders
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Elme Communities executive compensation, FY2022–FY2024.” https://intel.velarion.ai/comp/ELME (accessed 2026).
Short form: data: Velarion

The paid brief for Elme Communities

Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
$1,500 for the Executive Compensation Report. Both reports for $2,400.
Get the executive briefGet the board briefNo account needed.
13 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

Chief executive pay — Real EstateCEO pay ratio — Real EstateSay-on-pay support — Real Estate

Peers Elme Communities discloses

The companies named in ELME's own disclosed peer group.

Apartment Investment and Management CompanyArmada Hoffler Properties, Inc.Brandywine Realty TrustCenterspaceCTO Realty Growth, Inc.Easterly Government Properties, Inc.Global Medical REIT Inc.Independence Realty Trust, Inc.JBG SMITH PropertiesPiedmont Office Realty Trust, Inc.UMH Properties, Inc.Veris Residential, Inc.

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies

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}
}
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