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First Industrial Realty Trust Executive Compensation (FY25)

FR · Chicago, IL · Executive and director compensation, fiscal 2022 to 2025
Data as of September 7, 2026Latest filing (8-K): April 30, 2026
214 figures on this page: 203 cited to the filing that reported them, 11 calculated from figures it prints. See the citations
Total compensation for Peter Baccile, President and Chief Executive Officer, came to $8,288,366 in fiscal 2025, and Baccile's total was 25.2% higher than the $6,617,506 reported for fiscal 2024. For fiscal 2025, the company reported a chief executive pay ratio of 52:1, against median employee compensation of $158,762. Shareholders supported the say-on-pay proposal with 95.1% of votes cast for or against in favor at the meeting held April 30, 2026 for fiscal 2025. Companies named in the disclosed peer group include Agree Realty Corporation, Americold Realty Trust, Inc., Brixmor Property Group Inc., CubeSmart and EastGroup Properties, Inc., among others.
Chief executive, fiscal 2025
◇
Peter Baccile
Latest say-on-pay support
=
April 30, 2026
Chief executive pay ratio
◇
To the median employee
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 — Peter Baccile: $6,617,506 → $8,288,366 (25.2% higher)
Say-on-pay support: 92.8% → 95.1% (2.3 points higher)
CEO pay ratio: 43:1 → 52:1 (20.9% higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is First Industrial Realty Trust's chief executive and what were they paid?
Total compensation for Peter Baccile, President and Chief Executive Officer, came to $8,288,366 in fiscal 2025. Baccile's total was 25.2% higher than the $6,617,506 reported for fiscal 2024.
What was First Industrial Realty Trust's say-on-pay result?
Shareholders supported the say-on-pay proposal with 95.1% of votes cast for or against in favor at the meeting held April 30, 2026 for fiscal 2025.
Which companies are in First Industrial Realty Trust's peer group?
Companies named in the disclosed peer group include Agree Realty Corporation, Americold Realty Trust, Inc., Brixmor Property Group Inc., CubeSmart and EastGroup Properties, Inc., among others.
What is First Industrial Realty Trust's chief executive pay ratio?
For fiscal 2025, the company reported a chief executive pay ratio of 52:1, against median employee compensation of $158,762.

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
Peter Baccile
President and Chief Executive Officer
◇—◇—◇—◇◇
Johannson Yap
Chief Investment Officer and Executive Vice President — West Region
◇—◇—◇—◇◇
Peter Schultz
Executive Vice President — East Region
◇—◇—◇—◇◇
Scott Musil
Chief Financial Officer
◇—◇—◇—◇◇
Jennifer Rice
General Counsel and Secretary
◇—◇—◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Peter Baccile
President and Chief Executive Officer
◇—◇—◇—◇◇
Johannson Yap
Chief Investment Officer and Executive Vice President — West Region
◇—◇—◇—◇◇
Peter Schultz
Executive Vice President — East Region
◇—◇—◇—◇◇
Scott Musil
Chief Financial Officer
◇—◇—◇—◇◇
Jennifer Rice
General Counsel and Secretary
◇—◇—◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Peter Baccile
President and Chief Executive Officer
◇—◇—◇—◇◇
Johannson Yap
Chief Investment Officer and Executive Vice President — West Region
◇—◇—◇—◇◇
Peter Schultz
Executive Vice President — East Region
◇—◇—◇—◇◇
Scott Musil
Chief Financial Officer
◇—◇—◇—◇◇
Jennifer Rice
General Counsel and Secretary
◇—◇—◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Peter Baccile
President and Chief Executive Officer
◇—◇—◇—◇◇
Johannson Yap
Chief Investment Officer and Executive Vice President West Region
◇—◇—◇—◇◇
Peter Schultz
Executive Vice President East Region
◇—◇—◇—◇◇
Scott Musil
Chief Financial Officer
◇—◇—◇—◇◇
Jennifer Matthews Rice
General Counsel and Secretary
◇—◇—◇—◇◇
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
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Jennifer E. Matthews RiceRSU◇——◇——◇
Jennifer E. Matthews RicePSU◇◇◇—◇—◇
Johannson L. YapRSU◇——◇——◇
Matthews RiceRSU◇——◇——◇
Peter E. BaccilePSU◇◇◇—◇—◇
Peter O. SchultzPSU◇◇◇—◇—◇
Peter O. SchultzRSU◇——◇——◇
Scott A. MusilPSU◇◇◇—◇—◇
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
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Peter SchultzPSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
Scott MusilRSU◇◇——
PSU◇◇——
Johannson YapPSU◇◇——
RSU◇◇——
Peter BaccileRSU◇◇——
PSU◇◇——
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
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Matthew S. Dominski
Board chair
◇◇————◇
H. Patrick Hackett, Jr
◇◇————◇
Teresa Bryce Bazemore
◇◇————◇
Marcus L. Smith
Lead independent director
◇◇————◇
Denise A. Olsen
◇◇————◇
Peter E. Baccile 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.

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • Agree Realty Corporation ADC
  • Americold Realty Trust, Inc. COLD
  • Brixmor Property Group Inc. BRX
  • CubeSmart CUBE
  • EastGroup Properties, Inc. EGP
  • Healthcare Realty Trust Incorporated HR
  • Kite Realty Group Trust KRG
  • LXP Industrial Trust LXP
  • Omega Healthcare Investors, Inc. OHI
  • Rexford Industrial Realty, Inc. REXR
  • STAG Industrial, Inc. STAG
  • Terreno Realty Corporation TRNO
  • The Macerich Company MAC

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025April 30, 2026=◇◇◇
2024April 30, 2025=◇◇◇
2023April 30, 2024=◇◇◇
2022May 3, 2023=◇◇◇
2021May 4, 2022=◇◇◇
2020May 5, 2021=◇◇◇
2019May 6, 2020=◇◇◇
2018May 8, 2019=◇◇◇
2017May 10, 2018=◇◇◇
2016May 11, 2017=◇◇◇
2015May 11, 2016=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇
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What this page does not include

Everything above is a fact First Industrial Realty Trust disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where First Industrial Realty 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 — $1,500
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 — $1,500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $1,200
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.
Velarion Intelligence
Adviser 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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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
214 figures on this page: 203 cited to the filing that reported them, 11 calculated from figures it prints.
203 cited to the filing
11 calculated from the filing

Documents cited

  1. 0000921825-26-000057
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0000921825-26-000041
    2025 DIRECTOR COMPENSATION TABLE · 2025 GRANTS OF PLAN-BASED AWARDS · 2025 Grants of Plan-Based Awards · CEO Pay Ratio · and 2 more sections
  3. 0000921825-25-000042
  4. 0000921825-25-000032
    SUMMARY COMPENSATION TABLE
  5. 0000921825-24-000053
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0000921825-24-000031
    SUMMARY COMPENSATION TABLE
  7. 0000921825-23-000033
    Item 5.07 Submission of Matters to a Vote of Security Holders
  8. 0000921825-23-000018
    SUMMARY COMPENSATION TABLE
  9. 0000921825-22-000025
  10. 0000921825-21-000024
  11. 0000921825-20-000021
  12. 0001193125-19-142955
    Item 5.07 Submission of Matters to a Vote of Security Holders
  13. 0001193125-18-162490
    Item 5.07 Submission of Matters to a Vote of Security Holders
  14. 0001193125-17-168666
    Item 5.07 Submission of Matters to a Vote of Security Holders
  15. 0001193125-16-587189
    Item 5.07 Submission of Matters to a Vote of Security Holders
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Velarion, “First Industrial Realty Trust executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/FR (accessed 2026).
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Real Estate rankings

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

Peers First Industrial Realty Trust discloses

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

Agree Realty CorporationAmericold Realty Trust, Inc.Brixmor Property Group Inc.CubeSmartEastGroup Properties, Inc.Healthcare Realty Trust IncorporatedKite Realty Group TrustLXP Industrial TrustOmega Healthcare Investors, Inc.Rexford Industrial Realty, Inc.STAG Industrial, Inc.The Macerich Company

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies
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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