UDR (UDR) has released an update.
UDR, Inc. has secured the leadership of Chairman and CEO Thomas W. Toomey with a new Executive Agreement, after recognizing his valuable role and prior voluntary forfeiture of a supplemental equity award. The deal guarantees a substantial compensation package, including a $900,000 base salary, potential annual bonuses of $2.1 million, and long-term incentives up to $7 million, all subject to performance goals. Additionally, Toomey gets severance benefits under certain termination conditions, and the agreement includes standard non-compete and confidentiality clauses. This strategic move aims to retain Toomey’s expertise and steer the company toward continued success in the competitive market.
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