Real Estate
Franklin BSP Realty Trust Executive Compensation (FY25)
FBRT · New York, NY · Executive and director compensation, fiscal 2022 to 2025
Data as of September 7, 2026Latest filing (8-K): June 9, 2026
92 figures on this page: 88 cited to the filing that reported them, 4 calculated from figures it prints. See the citations
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 — Michael Comparato: $0 → $1,747,984
Say-on-pay support: 84.5% → 88.1% (3.6 points higher)
Frequently asked questions
Answers drawn from the data on this page.
Who is Franklin BSP Realty Trust's chief executive and what were they paid?
Total compensation for Michael Comparato, Chief Executive Officer and Former President, came to $1,747,984 in fiscal 2025.
What was Franklin BSP Realty Trust's say-on-pay result?
The say-on-pay proposal drew 88.1% of votes cast for or against in favor at the meeting held June 8, 2026 for fiscal 2025.
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 Byrne Chief Executive Officer | — | — | ◇ | — | — | — | — | ◇ |
Jerome Baglien Chief Financial Officer, Chief Operating Officer and Treasurer | — | — | ◇ | — | — | — | — | ◇ |
Fiscal 2023
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Richard Byrne Chairman of the Board of Directors and Chief Executive Officer | — | — | ◇ | — | — | — | — | ◇ |
Michael Comparato President | — | — | ◇ | — | — | — | — | ◇ |
Jerome Baglien Chief Financial Officer and Chief Operating Officer | — | — | ◇ | — | — | — | — | ◇ |
Fiscal 2024
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Richard Byrne Chairman of the Board of Directors and Chief Executive Officer | — | — | ◇ | — | — | — | — | ◇ |
Jerome Baglien Chief Financial Officer & Chief Operating Officer | — | — | ◇ | — | — | — | — | — not reconciled |
Michael Comparato Chief Executive Officer | — | — | ◇ | — | — | — | — | — not reconciled |
Fiscal 2025
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Michael Comparato Chief Executive Officer and Former President Departed during or after this year | — | — | ◇ | — | — | — | — | ◇ |
Richard Byrne Former Chief Executive Officer Departed during or after this year | — | — | ◇ | — | — | — | — | ◇ |
Jerome Baglien Chief Financial Officer and Chief Operating 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 |
|---|---|---|---|---|---|---|---|---|
| Jerome S. Baglien | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Michael Comparato | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Richard J. Byrne | 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 |
|---|---|---|---|---|---|
| Jerome Baglien | RSU | ◇ | ◇ | — | — |
| RSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| Michael Comparato | RSU | ◇ | ◇ | — | — |
| RSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| Richard Byrne | RSU | ◇ | ◇ | — | — |
| RSU | ◇ | ◇ | — | — | |
| 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.
Michael Comparato
Chief Executive Officer and Former President · Terms as described in the company’s compensation discussion · citing a 2024 filing
| Equity acceleration on change in control | ◇ |
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 |
|---|---|---|---|---|---|---|---|
Elizabeth K. Tuppeny Lead independent director | ◇ | ◇ | — | — | — | — | ◇ |
Peter J. McDonough | ◇ | ◇ | — | — | — | — | ◇ |
Buford H. Ortale | ◇ | ◇ | — | — | — | — | ◇ |
Jamie Handwerker | ◇ | ◇ | — | — | — | — | ◇ |
Pat Augustine | ◇ | ◇ | — | — | — | — | ◇ |
Joe Dumars | ◇ | ◇ | — | — | — | — | ◇ |
Richard J. Byrne 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 | ◇ |
| 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 | ◇ |
Disclosed peer group
The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Say-on-pay history
Shareholder support for the compensation program, by year.
| Year | Meeting | Support | Votes for | Votes against | Abstentions |
|---|---|---|---|---|---|
| 2025 | June 8, 2026 | = | ◇ | ◇ | ◇ |
| 2024 | May 28, 2025 | = | ◇ | ◇ | ◇ |
| 2023 | May 29, 2024 | = | ◇ | ◇ | ◇ |
| 2022 | May 31, 2023 | = | ◇ | ◇ | ◇ |
What this page does not include
Everything above is a fact Franklin BSP Realty Trust disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
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.
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 — $1,200Realizable 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 IntelligenceAdviser 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.
92 figures on this page: 88 cited to the filing that reported them, 4 calculated from figures it prints.
88 cited to the filing
4 calculated from the filing
Documents cited
- 0001104659-26-071863Item 5.07 Submission of Matters to a Vote of Security Holders
- 0001193125-26-161379DIRECTOR COMPENSATION · Director Compensation · Grants of Plan-Based Awards · Outstanding Equity Awards at December 31, 2025 · and 1 more section
- 0001104659-25-055560Item 5.07 Submission of Matters to a Vote of Security Holders
- 0001193125-25-081535Summary Compensation Table
- 0001104659-24-067175Item 5.07 Submission of Matters to a Vote of Security Holders
- 0001193125-24-098606Compensation Discussion and Analysis · Summary Compensation Table
- 0001104659-23-068543Item 5.07 Submission of Matters to a Vote of Security Holders
- 0001193125-23-106497Summary Compensation Table
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Franklin BSP Realty Trust executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/FBRT (accessed 2026).
Short form: data: Velarion
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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}
}