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Spirit Realty Capital Executive Compensation (FY22)

SRC · Executive and director compensation, fiscal 2022 only
Chief executive, fiscal 2022
◇
Jackson Hsieh
Latest say-on-pay support
=
May 3, 2023
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Data as of October 5, 2026Latest filing (8-K): May 4, 2023
9 filings cited on this page
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140 figures on this page: 132 cited to the filing that reported them, 8 calculated from figures it prints. See the citations

Frequently asked questions

Answers drawn from the data on this page.
Who is Spirit Realty Capital's chief executive and what were they paid?
Jackson Hsieh was paid $12,721,068 in total compensation as President and Chief Executive Officer for fiscal 2022.
What was Spirit Realty Capital's say-on-pay result?
For fiscal 2022, shareholders backed the say-on-pay proposal with 96.6% of votes cast for or against in favor at the meeting held May 3, 2023.
Which companies are in Spirit Realty Capital's peer group?
Companies named in the disclosed peer group include Acadia Realty Trust, EPR Properties, Federal Realty Investment Trust, Healthcare Trust of America, Inc. and LXP Industrial Trust, among others. The 2022 Compensation Peer Group names Acadia Realty Trust, EPR Properties, Federal Realty Investment Trust, Healthcare Trust of America, Inc. and LXP Industrial Trust, among others. The Performance Peer Group includes Agree Realty Corporation, Broadstone Net Lease, Inc, Four Corners Property Trust, Inc., Getty Realty Corp. and NETSTREIT Corp., among others.

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
Jackson Hsieh
President and Chief Executive Officer
◇—◇—◇—◇◇
Ken Heimlich
Executive Vice President and Chief Investment Officer
◇—◇—◇—◇◇
Michael Hughes
Executive Vice President and Chief Financial Officer
◇—◇—◇—◇◇
Jay Young
Executive Vice President, Chief Administrative Officer and Chief Legal Officer
◇—◇—◇—◇◇
Rochelle Thomas
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.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2022 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Ken HeimlichRSU◇◇——
PSU◇◇——
PSU◇◇——
Jackson HsiehPSU◇◇——
PSU◇◇——
RSU◇◇——
Michael HughesPSU◇◇——
PSU◇◇——
RSU◇◇——
Jay YoungPSU◇◇——
PSU◇◇——
RSU◇◇——
Rochelle ThomasPSU◇◇——
RSU◇◇——
RSU◇◇——
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.
Jackson Hsieh
President and Chief Executive Officer · Terms as described in the company’s compensation discussion · citing a 2023 filing
Severance multiple◇
Change-in-control multiple◇
Equity acceleration on change in control◇
Benefits continuation on change in control◇
Benefits continuation◇
Jay Young
Executive Vice President, Chief Administrative Officer and Chief Legal Officer · Terms as described in the company’s compensation discussion · citing a 2023 filing
Severance multiple◇
Change-in-control trigger◇
Benefits continuation◇
Ken Heimlich
Executive Vice President and Chief Investment Officer · Terms as described in the company’s compensation discussion · citing a 2023 filing
Severance multiple◇
Equity acceleration on change in control◇
Benefits continuation◇
Michael Hughes
Executive Vice President and Chief Financial Officer · Terms as described in the company’s compensation discussion · citing a 2023 filing
Severance multiple◇
Equity acceleration on change in control◇
Benefits continuation◇
Rochelle Thomas
Executive Vice President, General Counsel and Secretary · Terms as described in the company’s compensation discussion · citing a 2023 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 2022
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Richard I. Gilchrist
Board chair · Lead independent director
◇◇————◇
Thomas J. Sullivan
—◇————◇
Michelle M. Frymire
—◇————◇
Kevin M. Charlton
—◇————◇
Elizabeth F. Frank
◇◇————◇
Kristian M. Gathright
—◇————◇
Nicholas P. Shepherd
◇◇————◇
Diana M. Laing
◇◇————◇
Todd A. Dunn
◇—————◇
Jackson Hsieh served on the board in fiscal 2022 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
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◇
Lead independent director premium◇
Audit committee chair◇
Audit committee member◇
Compensation committee chair◇
Compensation committee member◇
Nominating and governance chair◇
Nominating and governance member◇
Board meeting fee◇
Equity is delivered as Restricted Stock.

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2022
  • Acadia Realty Trust AKR
  • EPR Properties EPR
  • Federal Realty Investment Trust FRT
  • Healthcare Trust of America, Inc. HTA
  • LXP Industrial Trust LXP
  • Macerich Company MAC
  • Medical Properties Trust, Inc. MPW
  • National Retail Properties, Inc. symbol not shown
  • Omega Healthcare Investors, Inc. OHI
  • Paramount Group, Inc. PGRE
  • Pebblebrook Hotel Trust PEB
  • Retail Properties of America, Inc. RPAI
  • Sabra Health Care REIT, Inc. SBRA
  • Seritage Growth Properties SRG
  • STORE Capital Corporation STOR
  • Urban Edge Properties UE
  • VEREIT, Inc. symbol not shown
2022 Compensation Peer Group
  • Acadia Realty Trust AKR
  • EPR Properties EPR
  • Federal Realty Investment Trust FRT
  • Healthcare Trust of America, Inc. HTA
  • LXP Industrial Trust LXP
  • Macerich Company MAC
  • Medical Properties Trust, Inc. MPW
  • National Retail Properties, Inc. NNN
  • Omega Healthcare Investors, Inc. OHI
  • Paramount Group, Inc. PGRE
  • Pebblebrook Hotel Trust PEB
  • Retail Properties of America, Inc. DEA
  • Sabra Health Care REIT, Inc. SBRA
  • Seritage Growth Properties SRG
  • STORE Capital Corporation STOR
  • Urban Edge Properties UE
  • VEREIT, Inc. symbol not shown
Performance Peer Group
  • Agree Realty Corporation ADC
  • Broadstone Net Lease, Inc BNL
  • Four Corners Property Trust, Inc. FCPT
  • Getty Realty Corp. GTY
  • NETSTREIT Corp. NTST
  • Realty Income Corporation O

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2022May 3, 2023=◇◇◇
2021May 18, 2022=◇◇◇
2020May 19, 2021=◇◇◇
2019June 8, 2020=◇◇◇
2018May 9, 2019=◇◇◇
2017June 27, 2018=◇◇◇
2016June 28, 2017=◇◇◇
2015May 11, 2016=◇◇◇

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- Jackson Hsieh (President and Chief Executive Officer), FY2022 total compensation $12,721,068 (base salary $901,250) [exec_comp, SEC accession 0001193125-23-077255, filed 2023-03-23]

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What this page does not include

Everything above is a fact Spirit Realty Capital disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Spirit Realty Capital 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.
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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.
140 figures on this page: 132 cited to the filing that reported them, 8 calculated from figures it prints.
132 cited to the filing
8 calculated from the filing

Documents cited

  1. 0000950170-23-017954
    Proposal 3 For Against Abstentions Broker Non-Votes Approval on a Non-Binding Advisory Basis, of the Compensation of the Company’s Named Executive Officers
  2. 0001193125-23-077255
    COMPENSATION TABLES · Compensation Discussion and Analysis · Non-Employee Director Compensation
  3. 0001564590-22-020882
    Proposal 4 Voted For Voted Against Abstentions Broker Non-Votes Approval on a Non-Binding Advisory Basis, of the Compensation of the Company’s Named Executive Officers
  4. 0001564590-21-029074
  5. 0001564590-20-028771
  6. 0001308606-19-000055
  7. 0001308606-18-000058
  8. 0001308606-17-000088
  9. 0001308606-16-000272
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Velarion, “Spirit Realty Capital executive compensation, FY2022.” https://intel.velarion.ai/comp/SRC (accessed 2026).
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The Spirit Realty Capital brief, $1,500

Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
Both reports for $2,400.
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9 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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Peers Spirit Realty Capital discloses

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

Acadia Realty TrustEPR PropertiesFederal Realty Investment TrustLXP Industrial TrustMacerich CompanyOmega Healthcare Investors, Inc.Paramount Group, Inc.Pebblebrook Hotel TrustSabra Health Care REIT, Inc.Seritage Growth PropertiesUrban Edge PropertiesNational Retail Properties, Inc.Retail Properties of America, Inc.Agree Realty CorporationBroadstone Net Lease, IncFour Corners Property Trust, Inc.Getty Realty Corp.NETSTREIT Corp.Realty Income Corporation

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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