Real Estate
Franklin Street Properties Executive Compensation (FY25)
FSP · Wakefield, MA · Executive and director compensation, fiscal 2022 to 2025
Data as of September 7, 2026Latest filing (8-K): May 14, 2026
124 figures on this page: 113 cited to the filing that reported them, 11 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.
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
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
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
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
John Demeritt Executive Vice President Chief Financial Officer and Treasurer (PFO) | ◇ | — | — | — | ◇ | — | ◇ | ◇ |
Scott Carter Executive Vice President General Counsel and Secretary | ◇ | — | — | — | ◇ | — | ◇ | ◇ |
Jeffrey Carter President and Chief Investment Officer | ◇ | — | — | — | — | — | ◇ | ◇ |
Fiscal 2024
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
John Demeritt Executive Vice President Chief Financial Officer and Treasurer (PFO) | ◇ | — | — | — | ◇ | — | ◇ | ◇ |
Scott Carter Executive Vice President General Counsel and Secretary | ◇ | — | — | — | ◇ | — | ◇ | ◇ |
Jeffrey Carter President and Chief Investment Officer | ◇ | — | — | — | ◇ | — | ◇ | — not reconciled |
John Donahue Executive Vice President and President of FSP Property Management LLC | ◇ | ◇ | — | — | — | — | ◇ | ◇ |
George Carter Chief Executive Officer | ◇ | — | — | — | — | — | ◇ | ◇ |
Fiscal 2025
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
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.
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 |
|---|---|---|---|---|---|---|---|
John N. Burke | ◇ | ◇ | — | — | — | — | ◇ |
Georgia Murray Lead independent director | ◇ | ◇ | — | — | — | — | ◇ |
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 | ◇ |
| Total board 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.
| Year | Meeting | Support | Votes for | Votes against | Abstentions |
|---|---|---|---|---|---|
| 2025 | May 14, 2026 | = | ◇ | ◇ | ◇ |
| 2024 | May 15, 2025 | = | ◇ | ◇ | ◇ |
| 2023 | May 16, 2024 | = | ◇ | ◇ | ◇ |
| 2022 | May 11, 2023 | = | ◇ | ◇ | ◇ |
| 2021 | May 10, 2022 | = | ◇ | ◇ | ◇ |
| 2020 | May 13, 2021 | = | ◇ | ◇ | ◇ |
| 2019 | May 28, 2020 | = | ◇ | ◇ | ◇ |
| 2018 | May 9, 2019 | = | ◇ | ◇ | ◇ |
| 2017 | May 10, 2018 | = | ◇ | ◇ | ◇ |
| 2016 | May 11, 2017 | = | ◇ | ◇ | ◇ |
| 2015 | May 12, 2016 | = | ◇ | ◇ | ◇ |
Chief executive pay ratio
As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇
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 — $1,500Board 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 IntelligenceSay-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 analysisAdviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
Enquire about accessMultiple companies at once
Cross-company views, cohort screens, and data export across the industries we cover. This page is one company; the platform is all of them.
Velarion IntelligenceCitations
Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
124 figures on this page: 113 cited to the filing that reported them, 11 calculated from figures it prints.
113 cited to the filing
11 calculated from the filing
Documents cited
- 0001104659-26-061120Item 5.07 Submission of Matters to a Vote of Security Holders
- 0001104659-26-0391902025 Non-Employee Director Compensation · CEO Pay Ratio · Non-employee Director Compensation · SUMMARY COMPENSATION TABLE · and 1 more section
- 0001104659-25-049389Item 5.07 Submission of Matters to a Vote of Security Holders
- 0001104659-25-031699SUMMARY COMPENSATION TABLE · Summary Compensation Table
- 0001104659-24-062851Item 5.07 Submission of Matters to a Vote of Security Holders
- 0001104659-24-043643SUMMARY COMPENSATION TABLE
- 0001104659-23-059226
- 0001104659-23-039154Summary Compensation Table
- 0001558370-22-008683
- 0001558370-21-007175
- 0001558370-20-007118
- 0001558370-19-005003
- 0001558370-18-004705
- 0001558370-17-004243
- 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
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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}
}