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Tejon Ranch Executive Compensation (FY25)

TRC · Lebec, CA · Executive and director compensation, fiscal 2022 to 2025
Data as of September 7, 2026Latest filing (8-K): May 15, 2026
207 figures on this page: 197 cited to the filing that reported them, 10 calculated from figures it prints. See the citations
Matthew Walker was paid $2,355,829 in total compensation as President and Chief Executive Officer for fiscal 2025, and for fiscal 2025, the company reported a chief executive pay ratio of 24:1. Shareholders supported the say-on-pay proposal with 90.7% of votes cast including abstentions in favor at the meeting held May 13, 2026 for fiscal 2025. The disclosed peer group includes Agree Realty Corporation, Alico, Inc., Forestar Group, Inc., Kite Realty Trust and Limoneira Company, among others. The additional disclosed peer group names Alexander & Baldwin, Inc., American Assets Trust, BRT Apartments Corp., CTO Realty Growth Inc. and Five Point Holdings, among others.
Chief executive, fiscal 2025
◇
Matthew Walker
Median of the other named officers
$683,287
6 officers, excluding the chief executive
Latest say-on-pay support
=
May 13, 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 of record: Gregory Bielli → Matthew Walker
Say-on-pay support: 54.2% → 90.7% (36.5 points higher)
CEO pay ratio: 59.9:1 → 24:1 (59.9% lower)

Frequently asked questions

Answers drawn from the data on this page.
Who is Tejon Ranch's chief executive and what were they paid?
Matthew Walker was paid $2,355,829 in total compensation as President and Chief Executive Officer for fiscal 2025.
What was Tejon Ranch's say-on-pay result?
Shareholders supported the say-on-pay proposal with 90.7% of votes cast including abstentions in favor at the meeting held May 13, 2026 for fiscal 2025.
Which companies are in Tejon Ranch's peer group?
The disclosed peer group includes Agree Realty Corporation, Alico, Inc., Forestar Group, Inc., Kite Realty Trust and Limoneira Company, among others. The additional disclosed peer group names Alexander & Baldwin, Inc., American Assets Trust, BRT Apartments Corp., CTO Realty Growth Inc. and Five Point Holdings, among others. Companies named in the 2026 Peer Group include Comstock Holding Companies, Inc., FRP Holdings, Inc., Maui Land and Pineapple Company, Inc., Seritage Growth Properties and Whitestone REIT.
What is Tejon Ranch's chief executive pay ratio?
For fiscal 2025, the company reported a chief executive pay ratio of 24:1.

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
Marc Hardy
Senior Vice President, General Counsel
◇—◇—◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Gregory Bielli
Chief Executive Officer
◇◇◇—◇—◇◇
Brett Brown
Executive Vice President Chief Financial Officer
◇—◇—◇—◇◇
Hugh McMahon
Executive Vice President, Real Estate
◇—◇—◇◇◇◇
Allen Lyda
Chief Operating Officer
◇—◇—◇◇◇◇
Robert Velasquez
Senior Vice President Chief Accounting Officer
◇—◇—◇—◇◇
Michael Houston
Senior Vice President General Counsel
◇—◇—◇——◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Gregory Bielli
Former President and Chief Executive Officer
◇◇◇—◇—◇◇
Brett Brown
Former Executive Vice President and Chief Financial Officer
◇—◇—◇—◇◇
Hugh McMahon
Executive Vice President, Real Estate
◇—◇—◇◇◇◇
Allen Lyda
Former Executive Vice President and Chief Operating Officer
◇—◇—◇◇◇◇
Robert Velasquez
Senior Vice President, Chief Financial Officer, Chief Accounting Officer
◇—◇—◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Matthew Walker
President and Chief Executive Officer
◇—◇—◇—◇◇
Gregory Bielli
Former President and Chief Executive Officer
Departed during or after this year
◇◇————◇◇
Robert Velasquez
Senior Vice President and Chief Financial Officer and Chief Accounting Officer
◇◇◇—◇—◇◇
Hugh McMahon
Executive Vice President, Real Estate
◇—◇—◇◇◇◇
Michael Houston
Senior Vice President, General Counsel and Corporate Secretary
◇—◇—◇—◇◇
Brett Brown
Former Executive Vice President and Chief Financial Officer
Departed during or after this year
◇—◇———◇◇
Allen Lyda
Former Executive Vice President and Chief Operating 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
Hugh McMahonPSU◇—◇—◇—◇
Hugh McMahonRSU◇——◇——◇
Matthew WalkerRSU◇——◇——◇
Matthew WalkerRSU◇——◇——◇
Matthew WalkerPSU◇—◇—◇—◇
Robert D. VelasquezPSU◇—◇—◇—◇
Robert D. VelasquezRSU◇——◇——◇
Fiscal 2022, 2023 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
Matthew WalkerRSU◇◇——
Robert VelasquezRSU◇◇——
Michael HoustonRSU◇◇——
Hugh McMahonRSU◇◇——
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
Norman J. Metcalfe
Board chair
◇◇————◇
Steven A. Betts
◇◇————◇
Jeffrey J. McCall
◇◇————◇
Daniel R. Tisch
◇◇————◇
Anthony L. Leggio
◇◇————◇
Eric H. Speron
◇◇————◇
Kenneth G. Yee
◇◇————◇
Denise Gammon
◇◇————◇
Gregory S. Bielli
◇◇————◇
Andrew Dakos
◇◇————◇
Michael Winer
◇◇————◇
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 equity retainer◇
Board chair premium◇
Equity is delivered as restricted stock units.

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • Agree Realty Corporation ADC
  • Alico, Inc. ALCO
  • Forestar Group, Inc. FOR
  • Kite Realty Trust KRG
  • Limoneira Company LMNR
  • One Liberty Properties, Inc. OLP
  • Retail Opportunity Investment Corp. ROIC
  • Saul Centers, Inc. BFS
  • The St. Joe Company JOE
Additional disclosed peer group
  • Alexander & Baldwin, Inc. ALEX
  • American Assets Trust AAT
  • BRT Apartments Corp. BRT
  • CTO Realty Growth Inc. CTO
  • Five Point Holdings FPH
  • Stratus Properties STRS
2026 Peer Group
  • Comstock Holding Companies, Inc. CHCI
  • FRP Holdings, Inc. FRPH
  • Maui Land and Pineapple Company, Inc. MLP
  • Seritage Growth Properties SRG
  • Whitestone REIT WSR

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025May 13, 2026=◇◇◇
2024May 13, 2025=◇◇◇
2023May 14, 2024=◇◇◇
2022May 9, 2023=◇◇◇
2021May 10, 2022=◇◇◇
2020May 19, 2021=◇◇◇
2018May 15, 2019=◇◇◇
2017May 8, 2018=◇◇◇
2016May 17, 2017=◇◇◇
2015May 11, 2016=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Chief executive total compensation
◇
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What this page does not include

Everything above is a fact Tejon Ranch disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Tejon Ranch 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.
207 figures on this page: 197 cited to the filing that reported them, 10 calculated from figures it prints.
197 cited to the filing
10 calculated from the filing

Documents cited

  1. 0001193125-26-224752
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0001628280-26-023519
    CEO Pay Ratio · Director Compensation · Director Compensation in Fiscal Year 2025 · Fiscal Year 2025 Summary Compensation Table · and 2 more sections
  3. 0001193125-25-122159
    Item 5.07 Submission of Matters to a Vote of Security Holders
  4. 0001193125-24-140298
    Item 5.07 Submission of Matters to a Vote of Security Holders
  5. 0001193125-24-080637
    Fiscal Year 2023 Summary Compensation Table · Summary Compensation Table
  6. 0001193125-23-143287
    Item 5.07 Submission of Matters to a Vote of Security Holders
  7. 0001193125-23-083442
    Fiscal Year 2022 Summary Compensation Table
  8. 0001193125-22-148481
    Item 5.07 Submission of Matters to a Vote of Security Holders
  9. 0001193125-21-170568
    Item 5.07 Submission of Matters to a Vote of Security Holders
  10. 0001193125-19-149566
    Item 5.07 Submission of Matters to a Vote of Security Holders
  11. 0001193125-18-160525
    Item 5.07 Submission of Matters to a Vote of Security Holders
  12. 0001193125-17-175249
    Item 5.07 Submission of Matters to a Vote of Security Holders
  13. 0001193125-16-590009
    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, “Tejon Ranch executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/TRC (accessed 2026).
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Real Estate rankings

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

Peers Tejon Ranch discloses

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

Agree Realty CorporationForestar Group, Inc.Kite Realty TrustOne Liberty Properties, Inc.Saul Centers, Inc.The St. Joe CompanyAmerican Assets TrustBRT Apartments Corp.CTO Realty Growth Inc.Five Point HoldingsStratus PropertiesComstock Holding Companies, Inc.FRP Holdings, Inc.Maui Land and Pineapple Company, Inc.Seritage Growth PropertiesWhitestone REIT

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