Real Estate
First Real Estate Investment Trust of New Jersey Executive Compensation (FY25)
FREVS · Hackensack, NJ · Executive and director compensation, fiscal 2022 to 2025
Data as of September 7, 2026Latest filing (8-K): August 7, 2026
84 figures on this page: 80 cited to the filing that reported them, 4 calculated from figures it prints. See the citations
Figures cover fiscal 2022 through fiscal 2025. Separately, the company reported 3 named executive officers for fiscal 2025, and Robert Hekemian Jr. was paid $680,000 in total compensation as President and Chief Executive Officer for fiscal 2025. The say-on-pay proposal drew 94.6% of votes cast for or against in favor at the meeting held August 6, 2026 for fiscal 2025.
This company is not required to report a chief executive pay ratio.
Frequently asked questions
Answers drawn from the data on this page.
Who is First Real Estate Investment Trust of New Jersey's chief executive and what were they paid?
Robert Hekemian Jr. was paid $680,000 in total compensation as President and Chief Executive Officer for fiscal 2025.
What was First Real Estate Investment Trust of New Jersey's say-on-pay result?
The say-on-pay proposal drew 94.6% of votes cast for or against in favor at the meeting held August 6, 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 |
|---|---|---|---|---|---|---|---|---|
Robert Hekemian President and Chief Executive Officer | ◇ | — | — | — | — | — | ◇ | ◇ |
John Aiello Secretary | ◇ | — | — | — | — | — | ◇ | ◇ |
Allan Tubin Treasurer and Chief Financial Officer | ◇ | — | — | — | — | — | — | ◇ |
Fiscal 2023
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Robert Hekemian Jr. President and Chief Executive Officer | ◇ | — | ◇ | — | — | — | ◇ | ◇ |
John Aiello Secretary | ◇ | — | ◇ | — | — | — | ◇ | ◇ |
Allan Tubin Treasurer and Chief Financial Officer | ◇ | — | — | — | — | — | — | ◇ |
Fiscal 2024
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Robert S. Hekemian, Jr. President and Chief Executive Officer | ◇ | — | ◇ | — | — | — | ◇ | ◇ |
John Aiello Secretary | ◇ | — | ◇ | — | — | — | ◇ | ◇ |
Allan Tubin Treasurer and Chief Financial Officer | ◇ | — | — | — | — | — | — | ◇ |
Fiscal 2025
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Robert Hekemian Jr. President and Chief Executive Officer | ◇ | — | ◇ | — | — | — | ◇ | ◇ |
John Aiello Secretary | ◇ | — | ◇ | — | — | — | ◇ | ◇ |
Allan Tubin Treasurer 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 2024
| Officer | Award | Grant date | Threshold units | Target units | Units granted | Maximum units | Exercise price | Grant date fair value |
|---|---|---|---|---|---|---|---|---|
| John Aiello | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Robert S. Hekemian, Jr. | RSU | ◇ | — | — | ◇ | — | — | ◇ |
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.
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 |
|---|---|---|---|---|---|---|---|
Ronald J. Artinian Board chair | ◇ | ◇ | — | — | — | — | ◇ |
David F. McBride | ◇ | ◇ | — | — | — | — | ◇ |
Richard J. Aslanian | ◇ | ◇ | — | — | — | — | ◇ |
Justin F. Meng | ◇ | ◇ | — | — | — | — | ◇ |
David B. Hekemian | ◇ | ◇ | — | — | — | — | ◇ |
John A. Aiello and Robert S. Hekemian Jr 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 | ◇ |
| Board chair premium | ◇ |
| Audit committee chair | ◇ |
| Audit committee member | ◇ |
| Compensation committee chair | ◇ |
| Compensation committee member | ◇ |
| Nominating and governance member | ◇ |
Equity is delivered as Common Stock.
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 | August 6, 2026 | = | ◇ | ◇ | ◇ |
| 2022 | June 8, 2023 | = | ◇ | ◇ | ◇ |
| 2019 | April 21, 2020 | = | ◇ | ◇ | ◇ |
| 2016 | April 6, 2017 | = | ◇ | ◇ | ◇ |
What this page does not include
Everything above is a fact First Real Estate Investment Trust of New Jersey 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.
84 figures on this page: 80 cited to the filing that reported them, 4 calculated from figures it prints.
80 cited to the filing
4 calculated from the filing
Documents cited
- 0001174947-26-000770
- 0002077096-26-000197FISCAL 2025 DIRECTOR COMPENSATION · SUMMARY COMPENSATION TABLE · Summary Compensation Table
- 0001174947-25-000869SUMMARY COMPENSATION TABLE · Summary Compensation Table
- 0001174947-24-000734SUMMARY COMPENSATION TABLE
- 0001174947-23-000854
- 0001174947-23-000639SUMMARY COMPENSATION TABLE
- 0001174947-20-000583
- 0001174947-17-000568
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “First Real Estate Investment Trust of New Jersey executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/FREVS (accessed 2026).
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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}
}