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Highwoods Properties Executive Compensation (FY25)

HIW · Raleigh, NC · Executive and director compensation, fiscal 2022 to 2025
Data as of September 7, 2026Latest filing (8-K): May 12, 2026
221 figures on this page: 210 cited to the filing that reported them, 11 calculated from figures it prints. See the citations
Companies named in the disclosed peer group include Brandywine Realty Trust, City Office REIT, Inc., COPT Defense Properties, Cousins Properties Incorporated and Hudson Pacific Properties, Inc., among others. Meanwhile, Theodore Klinck was paid $5,124,352 in total compensation as President and Chief Executive Officer for fiscal 2025, and compared with the $5,147,367 reported for fiscal 2024, Klinck's total was 0.4% lower, and the company reported a chief executive pay ratio of 62:1 for fiscal 2025, against median employee compensation of $82,694. For fiscal 2025, shareholders backed the say-on-pay proposal with 97.8% of votes cast including abstentions in favor at the meeting held May 12, 2026.
Chief executive, fiscal 2025
◇
Theodore Klinck
Latest say-on-pay support
=
May 12, 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 — Theodore Klinck: $5,147,367 → $5,124,352 (0.4% lower)
CEO pay ratio: 53.6:1 → 62:1 (15.7% higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is Highwoods Properties' chief executive and what were they paid?
Theodore Klinck was paid $5,124,352 in total compensation as President and Chief Executive Officer for fiscal 2025. Compared with the $5,147,367 reported for fiscal 2024, Klinck's total was 0.4% lower.
What was Highwoods Properties' say-on-pay result?
For fiscal 2025, shareholders backed the say-on-pay proposal with 97.8% of votes cast including abstentions in favor at the meeting held May 12, 2026.
Which companies are in Highwoods Properties' peer group?
Companies named in the disclosed peer group include Brandywine Realty Trust, City Office REIT, Inc., COPT Defense Properties, Cousins Properties Incorporated and Hudson Pacific Properties, Inc., among others.
What is Highwoods Properties' chief executive pay ratio?
The company reported a chief executive pay ratio of 62:1 for fiscal 2025, against median employee compensation of $82,694.

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
Theodore Klinck
President and Chief Executive Officer President and Chief Executive Officer
◇—◇—◇—◇◇
Brendan Maiorana
Executive Vice President and Chief Financial Officer Executive Vice President and Chief Financial Officer
◇—◇—◇—◇◇
Brian Leary
Executive Vice President and Chief Operating Officer Executive Vice President and Chief Operating Officer
◇—◇—◇—◇◇
Jeffrey Miller
Executive Vice President General Counsel and Secretary Executive Vice President General Counsel and Secretary
◇—◇—◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Theodore Klinck
President and Chief Executive Officer
◇—◇—◇—◇◇
Brendan Maiorana
Executive Vice President and Chief Financial Officer
◇—◇—◇—◇◇
Brian Leary
Executive Vice President and Chief Operating Officer
◇—◇—◇—◇◇
Jeffrey Miller
Executive Vice President, General Counsel and Secretary
◇—◇—◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Theodore Klinck
President and Chief Executive Officer
◇—◇—◇—◇◇
Brendan Maiorana
Executive Vice President and Chief Financial Officer
◇—◇—◇—◇◇
Brian Leary
Executive Vice President and Chief Operating Officer
◇—◇—◇—◇◇
Jeffrey Miller
Executive Vice President, General Counsel and Secretary
◇—◇—◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Theodore Klinck
President and Chief Executive Officer
◇—◇—◇—◇◇
Brendan Maiorana
Executive Vice President and Chief Financial Officer
◇—◇—◇—◇◇
Brian Leary
Executive Vice President and Chief Operating Officer
◇—◇—◇—◇◇
Jeffrey Miller
Executive Vice President, 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
Brendan C. MaioranaPSU◇—◇—◇—◇
Brendan C. MaioranaRSU◇——◇——◇
Brendan MaioranaRSA◇——◇———
Brian M. LearyPSU◇—◇—◇—◇
Brian M. LearyRSU◇——◇——◇
Jeffrey D. MillerPSU◇—◇—◇—◇
Jeffrey D. MillerRSU◇——◇——◇
Theodore J. KlinckPSU◇—◇—◇—◇
Theodore J. KlinckRSU◇——◇——◇
Theodore KlinckRSA◇——◇———
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
Brian LearyRSU◇◇——
PSU◇◇——
Brendan MaioranaRSU◇◇——
PSU◇◇——
Theodore KlinckOption◇—◇—
RSU◇◇——
Option◇—◇—
PSU◇◇——
Jeffrey MillerOption◇—◇—
RSU◇◇——
Option◇—◇—
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
Carlos E. Evans
Board chair
◇◇———◇◇
Anne H. Lloyd
◇◇———◇◇
David J. Hartzell
◇◇———◇◇
Charles A. Anderson
◇◇———◇◇
David L. Gadis
◇◇———◇◇
Candice W. Todd
◇◇———◇◇
Gene H. Anderson
◇————◇◇
Thomas P. Anderson
◇————◇◇
Theodore J. Klinck 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◇
Equity is delivered as Restricted Stock.
Stock ownership guideline: 4x Annual Base Cash Retainer

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • Brandywine Realty Trust BDN
  • City Office REIT, Inc. CIO
  • COPT Defense Properties CDP
  • Cousins Properties Incorporated CUZ
  • Hudson Pacific Properties, Inc. HPP
  • Kilroy Realty Corporation KRC
  • Piedmont Realty Trust, Inc. PDM

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025May 12, 2026=◇◇◇
2024May 13, 2025=◇◇◇
2023May 14, 2024=◇◇◇
2022May 16, 2023=◇◇◇
2021May 10, 2022=◇◇◇
2020May 11, 2021=◇◇◇
2019May 12, 2020=◇◇◇
2018May 8, 2019=◇◇◇
2017May 9, 2018=◇◇◇
2016May 10, 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 Highwoods Properties disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Highwoods Properties 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.
221 figures on this page: 210 cited to the filing that reported them, 11 calculated from figures it prints.
210 cited to the filing
11 calculated from the filing

Documents cited

  1. 0000921082-26-000038
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0000921082-26-000030
    CEO Pay Ratio · Compensation of Directors · Grants of Plan-Based Awards · Outstanding Equity Awards · and 1 more section
  3. 0000921082-25-000026
  4. 0000921082-25-000012
    Summary Compensation
  5. 0000921082-24-000022
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0000921082-24-000011
    Summary Compensation
  7. 0000921082-23-000043
    Item 5.07 Submission of Matters to a Vote of Security Holders
  8. 0000921082-23-000032
    Summary Compensation
  9. 0000921082-22-000022
  10. 0000921082-21-000025
  11. 0000921082-20-000032
  12. 0000921082-19-000039
    Item 5.07 Submission of Matters to a Vote of Security Holders
  13. 0000921082-18-000033
    Item 5.07 Submission of Matters to a Vote of Security Holders
  14. 0000921082-17-000036
    Item 5.07 Submission of Matters to a Vote of Security Holders
  15. 0000921082-16-000078
    Item 5.07 Submission of Matters to a Vote of Security Holders
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Highwoods Properties executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/HIW (accessed 2026).
Short form: data: Velarion
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Real Estate rankings

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

Peers Highwoods Properties discloses

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

Brandywine Realty TrustCOPT Defense PropertiesCousins Properties IncorporatedHudson Pacific Properties, Inc.Kilroy Realty CorporationPiedmont Realty Trust, Inc.

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