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KKR Real Estate Finance Trust Executive Compensation (FY25)

KREF · New York, NY · Executive and director compensation, fiscal 2022 to 2025
Data as of September 7, 2026Latest filing (8-K): April 16, 2026
111 figures on this page: 106 cited to the filing that reported them, 5 calculated from figures it prints. See the citations
Disclosures span fiscal 2022 through fiscal 2025. Separately, the company reported 4 named executive officers for fiscal 2025, and total compensation for Matthew Salem, Chief Executive Officer, came to $688,188 in fiscal 2025. Salem's total moved 24.8% lower from the $915,688 reported for fiscal 2024. For fiscal 2025, shareholders backed the say-on-pay proposal with 96.0% of votes cast for or against in favor at the meeting held April 14, 2026.
Chief executive, fiscal 2025
◇
Matthew Salem
Latest say-on-pay support
=
April 14, 2026
This company is not required to report a chief executive pay ratio.
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 — Matthew Salem: $915,688 → $688,188 (24.8% lower)
Say-on-pay support: 95.1% → 96.0% (0.9 points higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is KKR Real Estate Finance Trust's chief executive and what were they paid?
Total compensation for Matthew Salem, Chief Executive Officer, came to $688,188 in fiscal 2025. Salem's total moved 24.8% lower from the $915,688 reported for fiscal 2024.
What was KKR Real Estate Finance Trust's say-on-pay result?
For fiscal 2025, shareholders backed the say-on-pay proposal with 96.0% of votes cast for or against in favor at the meeting held April 14, 2026.

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
Matthew Salem
Chief Executive Officer
——◇————◇
W. Patrick Mattson
President and Chief Operating Officer
——◇————◇
Kendra Decious
Chief Financial Officer and Treasurer
◇◇◇———◇◇
Vincent Napolitano
Secretary
——◇————◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Matthew Salem
Chief Executive Officer
——◇————◇
Kendra Decious
Chief Financial Officer and Treasurer
◇◇◇———◇◇
W. Patrick Mattson
President and Chief Operating Officer
——◇————◇
Vincent Napolitano
Former General Counsel and Secretary
——◇————◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Matthew Salem
Chief Executive Officer
——◇————◇
W. Patrick Mattson
President and Chief Operating Officer
——◇————◇
Kendra Decious
Chief Financial Officer and Treasurer
◇◇◇———◇◇
Vincent Napolitano
Former General Counsel and Secretary
Departed during or after this year
——◇————◇
Kelly Galligan
Former General Counsel and Secretary
——◇————◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Kendra Decious
Chief Financial Officer and Treasurer
◇◇◇———◇◇
Matthew Salem
Chief Executive Officer
——◇————◇
W. Patrick Mattson
President, Chief Operating Officer and Secretary
——◇————◇
Kelly Galligan
Former General Counsel and Secretary
Departed during or after this year
——◇————◇
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
Kelly GalliganRSU◇——◇——◇
Kendra DeciousRSU◇——◇——◇
Matthew A. SalemRSU◇——◇——◇
W. Patrick MattsonRSU◇——◇——◇
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
W. Patrick MattsonRSU◇◇——
Kelly GalliganRSU◇◇——
Matthew SalemRSU◇◇——
Kendra DeciousRSU◇◇——
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
Deborah H. McAneny
Lead independent director
◇◇————◇
Paula Madoff
◇◇————◇
Irene M. Esteves
◇◇————◇
Jonathan A. Langer
◇◇————◇
Terrance R. Ahern
◇◇————◇
Matthew A. Salem, Christen E.J. Lee and Ralph F. Rosenberg 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◇
Audit committee member◇
Compensation committee chair◇
Compensation committee member◇
Nominating and governance chair◇
Nominating and governance member◇
Equity is delivered as restricted stock units.
Stock ownership guideline: 3x annual cash retainer

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
2025April 14, 2026=◇◇◇
2024April 25, 2025=◇◇◇
2023April 19, 2024=◇◇◇
2022April 21, 2023=◇◇◇
2021April 22, 2022=◇◇◇
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What this page does not include

Everything above is a fact KKR Real Estate Finance Trust 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 — $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.
111 figures on this page: 106 cited to the filing that reported them, 5 calculated from figures it prints.
106 cited to the filing
5 calculated from the filing

Documents cited

  1. 0001140361-26-015156
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0001140361-26-007573
    Annual Director Compensation Program · Director Compensation for Fiscal 2025 · Grants of Plan Based Awards in 2025 · Grants of Plan-Based Awards · and 2 more sections
  3. 0001140361-25-016926
    Item 5.07 Submission of Matters to a Vote of Security Holders
  4. 0001140361-25-008824
    Summary Compensation Table
  5. 0001140361-24-022033
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0001140361-24-012368
    Summary Compensation Table
  7. 0001140361-23-020738
    Item 5.07 Submission of Matters to a Vote of Security Holders
  8. 0001140361-23-011204
    Summary Compensation Table
  9. 0001140361-22-015579
    Item 5.07 Submission of Matters to a Vote of Security Holders
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This page is free to cite. Attribution we ask for:
Velarion, “KKR Real Estate Finance Trust executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/KREF (accessed 2026).
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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
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