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Franklin Street Properties Executive Compensation (FY25)

FSP · Wakefield, MA · Executive and director compensation, fiscal 2022 to 2025
Chief executive, fiscal 2025
◇
George Carter
Latest say-on-pay support
=
May 14, 2026
Chief executive pay ratio
◇
To the median employee
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Data as of October 19, 2026Latest filing (8-K): May 14, 2026
15 filings cited on this page
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Published by Velarion Company Intelligence
Franklin Street Properties brief$1,500Get the executive brief
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134 figures on this page: 123 cited to the filing that reported them, 11 calculated from figures it prints. See the citations

More on Franklin Street Properties

Five data products on this company. Each one is requested through the developer setup page.
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.
Say-on-pay support: 87.9% → 64.9% (23.0 points lower)
CEO pay ratio: 1.4:1 → 1.4:1 (4.4% higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is Franklin Street Properties' chief executive and what were they paid?
George Carter was paid $306,000 in total compensation as Chairman and CEO for fiscal 2025.
What was Franklin Street Properties' say-on-pay result?
The say-on-pay proposal drew 64.9% of votes cast for or against in favor at the meeting held May 14, 2026 for fiscal 2025.
What is Franklin Street Properties' chief executive pay ratio?
The disclosed chief executive pay ratio for fiscal 2025 is 1.4:1, against median employee compensation of $216,057.

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
John Demeritt
Executive Vice President Chief Financial Officer and Treasurer (PFO)
◇◇————◇◇
Jeffrey Carter
President and Chief Investment Officer
◇◇————◇◇
Scott Carter
Executive Vice President General Counsel and Secretary
◇◇————◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
John Demeritt
Executive Vice President Chief Financial Officer and Treasurer (PFO)
◇◇————◇◇
Jeffrey Carter
President and Chief Investment Officer
◇◇————◇◇
Scott Carter
Executive Vice President General Counsel and Secretary
◇◇————◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
John Demeritt
Executive Vice President Chief Financial Officer and Treasurer (PFO)
◇◇————◇◇
Jeffrey Carter
President and Chief Investment Officer
◇◇————◇◇
Scott Carter
Executive Vice President General Counsel and Secretary
◇◇————◇◇
John Donahue
Executive Vice President and President of FSP Property Management LLC
◇◇————◇◇
George Carter
Chief Executive Officer
◇—————◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
John Demeritt
Executive Vice President, Chief Financial Officer and Treasurer
◇◇————◇◇
Jeffrey Carter
President and Chief Investment Officer
◇◇—————◇
Scott Carter
Executive Vice President, General Counsel and Secretary
◇◇—————◇
John Donahue
Executive Vice President and President of FSP Property Management LLC
◇◇————◇◇
George Carter
Chairman and CEO
◇—————◇◇
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.

Severance and change in control

The terms as written in the agreements.
George Carter
Chief Executive Officer · Terms as described in the company’s compensation discussion · citing a 2025 filing
Change-in-control trigger◇
Jeffrey Carter
President · Terms as described in the company’s compensation discussion · citing a 2025 filing
Change-in-control multiple◇
Excise tax treatment◇
John Demeritt
Executive Vice President, Chief Financial Officer and Treasurer · Terms as described in the company’s compensation discussion · citing a 2025 filing
Change-in-control multiple◇
Excise tax treatment◇
Scott Carter
General Counsel · Terms as described in the company’s compensation discussion · citing a 2025 filing
Change-in-control multiple◇
Excise tax treatment◇

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Georgia Murray
Lead independent director
◇◇————◇
John N. Burke
◇◇————◇
Milton P. Wilkins, Jr
◇◇————◇
Dennis J. McGillicuddy
◇◇————◇
Jennifer Bitterman
◇—————◇
George J. Carter 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◇
Compensation committee chair◇
Nominating and governance chair◇

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.
YearMeetingSupportVotes forVotes againstAbstentions
2025May 14, 2026=◇◇◇
2024May 15, 2025=◇◇◇
2023May 16, 2024=◇◇◇
2022May 11, 2023=◇◇◇
2021May 10, 2022=◇◇◇
2020May 13, 2021=◇◇◇
2019May 28, 2020=◇◇◇
2018May 9, 2019=◇◇◇
2017May 10, 2018=◇◇◇
2016May 11, 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?”
- George Carter (Chairman and CEO), FY2025 total compensation $306,000 (base salary $300,000) [exec_comp, SEC accession 0001104659-26-039190, filed 2026-04-02]

Answered within 24 hours, every figure cited to its SEC filing. If our database cannot answer your question, you are refunded automatically.

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What this page does not include

Everything above is a fact Franklin Street Properties 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 — $1,500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $499
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
Say-on-pay responsiveness
Franklin Street Properties 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 analysis
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.
134 figures on this page: 123 cited to the filing that reported them, 11 calculated from figures it prints.
123 cited to the filing
11 calculated from the filing

Documents cited

  1. 0001104659-26-061120
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0001104659-26-039190
    2025 Non-Employee Director Compensation · CEO Pay Ratio · Non-employee Director Compensation · SUMMARY COMPENSATION TABLE · and 1 more section
  3. 0001104659-25-049389
    Item 5.07 Submission of Matters to a Vote of Security Holders
  4. 0001104659-25-031699
    Compensation Discussion and Analysis · SUMMARY COMPENSATION TABLE · Summary Compensation Table
  5. 0001104659-24-062851
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0001104659-24-043643
    SUMMARY COMPENSATION TABLE
  7. 0001104659-23-059226
  8. 0001104659-23-039154
    Summary Compensation Table
  9. 0001558370-22-008683
  10. 0001558370-21-007175
  11. 0001558370-20-007118
  12. 0001558370-19-005003
  13. 0001558370-18-004705
  14. 0001558370-17-004243
  15. 0001558370-16-006055
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Franklin Street Properties executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/FSP (accessed 2026).
Short form: data: Velarion

The paid brief for Franklin Street Properties

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.
15 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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The headline figures, each with its citation.
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Real Estate rankings

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

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}
}
For informational purposes only. Not investment, legal, or compensation advice.  All companies · The Pay Desk · Methodology · Terms · Privacy