First Industrial Realty Trust Revamps Executive Bonus Framework

First Industrial Realty Trust (FR) has released an update.

The Board has approved a new incentive bonus structure for employees, including top executives, that will be influenced by the company’s performance in four key areas: adjusted FFO per share, same store NOI growth, fixed charge coverage ratio, and discretionary objectives set by the CEO. These categories are weighted differently, with FFO per share carrying the most influence at 50%. Specific performance targets will determine bonuses, with potential payouts ranging from 0% to 125% of the designated bonus opportunity, with the possibility of prorated awards for intermediate achievements.

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