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Gaming & Lodging

RLJ Lodging Trust Executive Compensation (FY25)

RLJ · Bethesda, MD · Executive and director compensation, fiscal 2022 to 2025
Chief executive, fiscal 2025
◇
Leslie Hale
Median of the other named officers
$1,261,108
6 officers, excluding the chief executive
Latest say-on-pay support
=
April 24, 2026
Chief executive pay ratio
◇
To the median employee
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Data as of October 22, 2026Latest filing (8-K): April 30, 2026
12 filings cited on this page
A report that fails to generate is refunded in full
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238 figures on this page: 230 cited to the filing that reported them, 8 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.
Chief executive total compensation — Leslie Hale: $9,358,847 → $9,460,014 (1.1% higher)
Say-on-pay support: 91.7% → 87.6% (4.1 points lower)
CEO pay ratio: 46:1 → 58.7:1 (27.6% higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is RLJ Lodging Trust's chief executive and what were they paid?
Leslie Hale, President, Chief Executive Officer & Trustee, received $9,460,014 in total compensation for fiscal 2025. Compared with the $9,358,847 reported for fiscal 2024, Hale's total was 1.1% higher.
What was RLJ Lodging Trust's say-on-pay result?
Shareholders supported the say-on-pay proposal with 87.6% of votes cast for or against in favor at the meeting held April 24, 2026 for fiscal 2025.
Which companies are in RLJ Lodging Trust's peer group?
Companies named in the disclosed peer group include Apple Hospitality REIT, Inc., COPT Defense Properties, DiamondRock Hospitality Company, Federal Realty Investment Trust and Host Hotels and Resorts, Inc., among others.
What is RLJ Lodging Trust's chief executive pay ratio?
The company reported a chief executive pay ratio of 58.7:1 for fiscal 2025, against median employee compensation of $161,221.

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
Leslie Hale
President and Chief Executive Officer
◇—◇—◇—◇◇
Sean Mahoney
Executive Vice President and Chief Financial Officer
◇—◇—◇—◇◇
Thomas Bardenett
Chief Operating Officer and Executive Vice President
◇—◇—◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Leslie Hale
President and Chief Executive Officer
◇—◇—◇—◇◇
Sean Mahoney
Executive Vice President and Chief Financial Officer
◇—◇—◇—◇◇
Thomas Bardenett
Chief Operating Officer and Executive Vice President
◇—◇—◇—◇◇
Chad Perry
Executive Vice President General Counsel and Corporate Secretary
◇—◇—◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Leslie Hale
President and Chief Executive Officer
◇—◇—◇—◇◇
Sean Mahoney
Executive Vice President and Chief Financial Officer
◇—◇—◇—◇◇
Thomas Bardenett
Chief Operating Officer and Executive Vice President
◇—◇—◇—◇◇
Chad Perry
Executive Vice President General Counsel and Corporate Secretary
◇—◇—◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Leslie Hale
President, Chief Executive Officer & Trustee
◇—◇—◇—◇◇
Thomas Bardenett
Executive Vice President and Chief Operating Officer
◇—◇—◇—◇◇
Robert L. Johnson
Founder and Executive Chairman of the Board
◇—◇—◇——◇
Nikhil Bhalla
Senior Vice President, Chief Financial Officer and Treasurer
◇—◇—◇—◇◇
Chad Perry
Former Executive Vice President, General Counsel and Corporate Secretary
Departed during or after this year
◇—◇———◇◇
Frederick D. McKalip
Executive Vice President, General Counsel and Corporate Secretary
◇—◇—◇—◇◇
Sean Mahoney
Former Executive Vice President and Chief Financial Officer
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
Chad D. PerryPSU◇◇◇—◇—◇
Chad D. PerryRSU◇——◇——◇
Frederick D. McKalipRSU◇——◇——◇
Leslie D. HaleRSU◇——◇——◇
Leslie D. HalePSU◇◇◇—◇—◇
Nikhil BhallaPSU◇◇◇—◇—◇
Nikhil BhallaRSU◇——◇——◇
Robert L. JohnsonPSU◇◇◇—◇—◇
Robert L. JohnsonRSU◇——◇——◇
Thomas BardenettRSU◇——◇——◇
Thomas BardenettPSU◇◇◇—◇—◇
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
Robert L. JohnsonRSU◇◇——
PSU◇◇——
Thomas BardenettRSU◇◇——
PSU◇◇——
Nikhil BhallaPSU◇◇——
RSU◇◇——
Leslie HaleRSU◇◇——
PSU◇◇——
Frederick D. McKalipRSU◇◇——
Sean MahoneyRSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Severance and change in control

The terms as written in the agreements.
Chad Perry
Former Executive Vice President, General Counsel and Corporate Secretary · Terms as described in the company’s compensation discussion · citing a 2025 filing
Severance multiple◇
Benefits continuation on change in control◇
Benefits continuation◇
Leslie Hale
President, Chief Executive Officer & Trustee · Terms as described in the company’s compensation discussion · citing a 2025 filing
Severance multiple◇
Change-in-control multiple◇
Benefits continuation on change in control◇
Benefits continuation◇
Sean Mahoney
Former Executive Vice President and Chief Financial Officer · Terms as described in the company’s compensation discussion · citing a 2025 filing
Severance multiple◇
Change-in-control multiple◇
Benefits continuation on change in control◇
Benefits continuation◇
Thomas Bardenett
Executive Vice President and Chief Operating Officer · Terms as described in the company’s compensation discussion · citing a 2025 filing
Severance multiple◇
Change-in-control multiple◇
Equity acceleration on change in control◇
Benefits continuation on change in control◇
Benefits continuation◇

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Nathaniel A. Davis
◇◇———◇◇
Robert M. La Forgia
◇◇———◇◇
Evan Bayh
◇◇———◇◇
Robin Zeigler
◇◇———◇◇
Patricia L. Gibson
◇◇———◇◇
Robert J. McCarthy
◇◇———◇◇
Arthur R. Collins
◇◇———◇◇
Robert L. Johnson and Leslie D. Hale 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◇
Audit committee member◇
Compensation committee chair◇
Compensation committee member◇
Nominating and governance chair◇
Nominating and governance member◇
Equity is delivered as Restricted Stock.
Stock ownership guideline: 5x base annual cash retainer ($400,000)

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • Apple Hospitality REIT, Inc. APLE
  • COPT Defense Properties CDP
  • DiamondRock Hospitality Company DRH
  • Federal Realty Investment Trust FRT
  • Host Hotels and Resorts, Inc. HST
  • Hyatt Hotels Corporation H
  • JBG Smith Properties JBGS
  • Omega Healthcare Investors, Inc. OHI
  • Park Hotels and Resorts, Inc. PK
  • Pebblebrook Hotel Trust PEB
  • Ryman Hospitality Properties, Inc. RHP
  • Summit Hotel Properties, Inc. INN
  • Sunstone Hotel Investors, Inc. SHO
  • Xenia Hotels and Resorts, Inc. XHR

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025April 24, 2026=◇◇◇
2024April 25, 2025=◇◇◇
2023April 26, 2024=◇◇◇
2022April 28, 2023=◇◇◇
2020April 30, 2021=◇◇◇
2019May 1, 2020=◇◇◇
2017May 24, 2018=◇◇◇
2015April 29, 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?”
- Leslie Hale (President, Chief Executive Officer & Trustee), FY2025 total compensation $9,460,014 (base salary $882,000) [exec_comp, SEC accession 0001104659-26-033293, filed 2026-03-23]

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What this page does not include

Everything above is a fact RLJ Lodging Trust disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where RLJ Lodging Trust 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 — $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.
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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.
238 figures on this page: 230 cited to the filing that reported them, 8 calculated from figures it prints.
230 cited to the filing
8 calculated from the filing

Documents cited

  1. 0001104659-26-052887
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0001104659-26-033293
    CEO Pay Ratio · Grants of Plan-Based Awards · Summary Compensation Table · Trustee Compensation
  3. 0001104659-25-043513
    Item 5.07 Submission of Matters to a Vote of Security Holders
  4. 0001104659-25-027221
    Compensation Discussion and Analysis · Summary Compensation Table
  5. 0001104659-24-056406
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0001104659-24-040533
    Summary Compensation Table
  7. 0001104659-23-056124
    Item 5.07 Submission of Matters to a Vote of Security Holders
  8. 0001104659-23-039129
    Summary Compensation Table
  9. 0001104659-21-060957
  10. 0001104659-20-057435
  11. 0001104659-18-036717
    Item 5.07 Submission of Matters to a Vote of Security Holders
  12. 0001104659-16-118295
    Item 5.07 Submission of Matters to a Vote of Security Holders
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Velarion, “RLJ Lodging Trust executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/RLJ (accessed 2026).
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12 filings cited on this page
Method: intel.velarion.ai/methodology
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Published by Velarion Company Intelligence
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Gaming & Lodging rankings

Chief executive pay — Gaming & LodgingCEO pay ratio — Gaming & LodgingSay-on-pay support — Gaming & Lodging

Peers RLJ Lodging Trust discloses

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

Apple Hospitality REIT, Inc.COPT Defense PropertiesDiamondRock Hospitality CompanyFederal Realty Investment TrustHost Hotels and Resorts, Inc.Hyatt Hotels CorporationJBG Smith PropertiesOmega Healthcare Investors, Inc.Park Hotels and Resorts, Inc.Pebblebrook Hotel TrustRyman Hospitality Properties, Inc.Summit Hotel Properties, Inc.Sunstone Hotel Investors, Inc.Xenia Hotels and Resorts, Inc.

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}
}
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