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United Kingdom

PS Business Parks Inc (PSB.N)

PSB.N on New York Stock Exchange

124.64USD
18 Jun 2018
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Summary

Name Age Since Current Position

Ronald Havner

60 2016 Chairman and Chief Executive Officer of Public Storage

Maria Hawthorne

58 2017 President, Chief Executive Officer, Principal Financial Officer, Principal Accounting Officer, Director

Joseph Russell

58 2016 President of Public Storage, Director

John Petersen

54 2004 Chief Operating Officer, Executive Vice President

Jennifer Dunbar

55 2009 Independent Director

James Kropp

69 2016 Independent presiding Director

Sara Lewis

50 2016 Independent Director

Gary Pruitt

68 2012 Independent Director

Robert Rollo

70 2013 Independent Director

Peter Schultz

70 2018 Independent Presiding Director

Biographies

Name Description

Ronald Havner

Mr. Ronald L. Havner, Jr. is a Chairman of the Board of PS Business Parks and Chief Executive Officer of Public Storage. Mr. Havner has been Chairman of the Board of PS Business Parks since March 1998 and previously served as the Company’s Chief Executive Officer. Mr. Havner has been Chief Executive Officer of Public Storage since November 2002. Mr. Havner also serves as a director of AvalonBay Communities, Inc. (NYSE: AVB) and will serve as director of California Resources Corp. (NYSE: CRC) through the end of his current term on May 10, 2018. Mr. Havner was the 2014 Chairman of the Board of Governors of the National Association of Real Estate Investment Trusts, Inc. (NAREIT). Mr. Havner’s qualifications for election to the PS Business Parks Board include his extensive leadership experience and Company and industry knowledge as the Company’s previous Chief Executive Officer. In considering the nomination of Mr. Havner for re-election to the Board, the Nominating/Corporate Governance Committee and the Board considered each of the qualifications above, including Mr. Havner’s experience in having served as our Chairman since 1998, and as our former Chief Executive Officer.

Maria Hawthorne

Ms. Maria R. Hawthorne is re designated as President, Chief Executive Officer, Principal Financial Officer, Principal Accounting Officer, Director of PS Business Parks, Inc. Ms. Hawthorne has served as Chief Executive Officer and President of the Company since July 2016 and August 2015, respectively. In addition, since August 2017, Ms. Hawthorne has also served in a dual capacity as the Company’s acting Chief Financial Officer (CFO) and will continue to so serve until a new CFO is retained. Ms. Hawthorne was also elected as a member of our Board in July 2016. Ms. Hawthorne most recently served as Executive Vice President, Chief Administrative Officer of the Company from July 2013 to August 2015. Prior to that, Ms. Hawthorne served as the Company’s Executive Vice President, East Coast from February 2011 to July 2013. Ms. Hawthorne served as the Company’s Senior Vice President from March 2004 to February 2011, with responsibility for property operations on the East Coast, which included Northern Virginia, Maryland and South Florida. From June 2001 through March 2004, Ms. Hawthorne was a Vice President of the Company, responsible for property operations in Virginia. From July 1994 to June 2001, Ms. Hawthorne was a Regional Manager of the Company in Virginia. From August 1988 to July 1994, Ms. Hawthorne was a General Manager, Leasing Director and Property Manager for American Office Park Properties. Ms. Hawthorne earned a Bachelor of Arts Degree in International Relations from Pomona College. Ms. Hawthorne’s qualifications for election to the PS Business Parks Board include her leadership experience and Company knowledge. As the only director who is also a member of the PS Business Parks executive management team, Ms. Hawthorne provides management’s perspective in Board discussions about the operations and strategic direction of the Company.

Joseph Russell

Mr. Joseph Darryl Russell, Jr. is President of Public Storage and Director of PS Business Parks, Inc. Mr. Russell has been a director of PS Business Parks since August 2003. Mr. Russell has been President of Public Storage since July 2016 and, as recently announced, will join the Public Storage board and serve as its Chief Executive Officer effective January 1, 2019. Previously, Mr. Russell was Chief Executive Officer of PS Business Parks from August 2003 until July 2016, and President of PS Business Parks from September 2002 to August 2015. Before joining PS Business Parks, Mr. Russell had been employed by Spieker Properties, an owner and operator of office and industrial properties in Northern California (Spieker), and its predecessor, for more than ten years, becoming an officer of Spieker when it became a publicly held REIT in 1993. Mr. Russell’s qualifications for election to the PS Business Parks Board include his leadership experience and Company and industry knowledge, including his more than 20-year involvement with publicly held REITs and extensive experience with office and industrial real estate.

John Petersen

Mr. John W. Petersen is the Chief Operating Officer and Executive Vice President of PS Business Parks, Inc. has been Executive Vice President and Chief Operating Officer since he joined the Company in December 2004. Prior to joining the Company, Mr. Petersen was Senior Vice President, San Jose Region, for Equity Office Properties (EOP) from July 2001 to December 2004, responsible for 11.3 million square feet of multi-tenant office, industrial and R&D space in Silicon Valley. Prior to working for EOP, Mr. Petersen was Senior Vice President with Spieker from 1995 to 2001, overseeing the growth of that company’s portfolio in San Jose, through acquisition and development of nearly three million square feet. Mr. Petersen is a graduate of The Colorado College in Colorado Springs, Colorado, and was recently the President of the National Association of Industrial and Office Parks, Silicon Valley Chapter.

Jennifer Dunbar

Ms. Jennifer Holden Dunbar serves as an Independent Director of PS Business Parks, Inc. Ms. Dunbar has been a director of PS Business Parks since February 2009. From 1994 to 1998, Ms. Dunbar was a partner with Leonard Green and Partners, L.P., a private equity firm she first joined in 1989. Ms. Dunbar has served as Co-Founder and Managing Director of Dunbar Partners, LLC, an investment and advisory services firm, since March 2005. Ms. Dunbar is also a director of Big 5 Sporting Goods Corporation (NASDAQ: BGFV), where she serves on the audit and compensation committees and chairs the nominating and corporate governance committee. Ms. Dunbar has served on the board of trustees of various funds in the PIMCO Funds complex since April 2015 (overseeing 141 fixed income funds as of year-end 2017) and February 2016 (21 equity funds as of year-end 2017), respectively, where she is a member of the audit, governance and valuation oversight committee of each board. Ms. Dunbar is also the chair of the governance committee and co-chair of the valuation oversight committee of the board that oversees the PIMCO equity trusts. Each of the PIMCO entities is a registered investment company under the Investment Company Act of 1940, as amended. Ms. Dunbar’s qualifications for election to the PS Business Parks Board include her financial expertise, her experience in private equity and her experience with investments and mergers and acquisitions. She also has valuable experience as a member of several public company boards.

James Kropp

Mr. James H. Kropp serves as an Independent presiding Director of PS Business Parks, Inc. Mr. Kropp has been a director of PS Business Parks since March 1998. Mr. Kropp has served as Chief Investment Officer at SLKW Investments LLC since 2009 and as Chief Financial Officer of Microproperties LLC, an owner and asset manager of net leased restaurant properties, since August 2012. Mr. Kropp served as interim Chief Financial Officer of TaxEase LLC from 2009 to February 2013 and is currently a Board Leadership Fellow for the National Association of Corporate Directors. Mr. Kropp also currently serves as a director of Corporate Capital Trust, Inc. and Corporate Capital Trust II, registered investment companies, and American Homes 4 Rent LLC (NYSE: AMH), a leader in the home rental market. Mr. Kropp’s qualifications for election to the PS Business Parks Board include his knowledge of investment banking and capital markets with a specialization in real estate securities, and his extensive experience with real estate businesses, including other REITs. He also has valuable experience as a member of several public company boards.

Sara Lewis

Ms. Sara Grootwassink Lewis serves as an Independent Director of PS Business Parks, Inc. Ms. Lewis has been a director of PS Business Parks since February 2010. She is Chief Executive Officer of Lewis Corporate Advisors, a capital markets advisory firm. From May 2002 through February 2009, Ms. Lewis served as Executive Vice President and Chief Financial Officer of Washington Real Estate Investment Trust (NYSE: WRE), which owns and operates a diversified group of properties in the Washington, D.C. area. Ms. Lewis also currently serves on the boards of Sun Life Financial (NYSE: SLF) and Weyerhaeuser (NYSE: WY), following its acquisition of Plum Creek Timber, where she served on the board from 2013 to 2016. Ms. Lewis previously served on the board of directors of CapitalSource from 2004 until its merger in 2014, and the board of directors of Adamas Pharmaceuticals (NASDAQ: ADMS) from 2014 to 2016. Ms. Lewis is a member of the board of trustees of the Brookings Institution and a former Standing Advisory Group member of the Public Company Accounting Oversight Board (PCAOB). Ms. Lewis is also a United States Chamber of Commerce Center for Capital Markets Competitiveness Leadership Board Member. Ms. Lewis’ qualifications for election to the PS Business Parks Board include her previous executive and financial experience at three other publicly traded REITs and her background as a Chartered Financial Analyst and Certified Public Accountant. She brings her extensive financial and real estate industry knowledge to the Board as well as her public company board experience.

Gary Pruitt

Mr. Gary E. Pruitt serves as an Independent Director of PS Business Parks, Inc. Mr. Pruitt has served as a director of PS Business Parks since February 2012. He served as Chairman and Chief Executive Officer of Univar N.V. (Univar) from 2002 until his retirement as Chief Executive Officer in 2010 and as Chairman in 2011. Univar is a chemical distribution company based in Bellevue, Washington, with distribution centers in the United States, Canada and Europe. Mr. Pruitt is also a trustee of Public Storage, a director of Itron, Inc. (NASDAQ: ITRI), and a former director of Esterline Technologies Corp. (NYSE: ESL). Mr. Pruitt’s qualifications for election to the PS Business Parks Board include his leadership and financial experience as Chairman and Chief Executive Officer at Univar and his membership on the board of trustees of Public Storage.

Robert Rollo

Mr. Robert S. Rollo is an Independent Director of PS Business Parks, Inc. Mr. Rollo has served as a director of PS Business Parks since October 2013. Mr. Rollo most recently served as a Senior Partner at Heidrick and Struggles (Heidrick) in Los Angeles from 2006 until his retirement in 2012. Heidrick is a leading international leadership advisory and executive search firm. Mr. Rollo is a past trustee of the University of Southern California and is Chairman Emeritus of the Southern California Chapter of the National Association of Corporate Directors. Mr. Rollo’s qualifications for election to the PS Business Parks Board include his extensive knowledge of and expertise in executive recruitment, compensation and development and talent management, along with his experience in corporate governance.

Peter Schultz

Mr. Peter Schultz is Independent Presiding Director of the company. Mr. Schultz has been a director of PS Business Parks since February 2012 and serves as the Company’s Independent Presiding Director for 2018. He served as President, Chief Executive Officer and a director of The Beacon Group, Inc. (Beacon) and its affiliates for more than 25 years until his retirement in 2010. Beacon, based in Southern California, and its affiliates, were engaged in the development and management of more than three million square feet of retail, industrial, hospitality and residential projects. Prior to working at The Beacon Group, Mr. Schultz was employed by Arthur Andersen for four years as a certified public accountant in its tax department. Mr. Schultz is a member of the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants. Mr. Schultz’s qualifications for election to the PS Business Parks Board include his leadership and extensive real estate experience as President, Chief Executive Officer and director of Beacon and its affiliates and his extensive financial expertise gained from his almost forty years of experience in finance.

Basic Compensation

Name Fiscal Year Total

Ronald Havner

56,040

Maria Hawthorne

866,601

Joseph Russell

28,840

John Petersen

686,101

Jennifer Dunbar

92,540

James Kropp

95,540

Sara Lewis

103,140

Gary Pruitt

80,340

Robert Rollo

79,390

Peter Schultz

88,340
As Of  31 Dec 2017

Options Compensation

Name Options Value

Ronald Havner

275,036 4,549,761

Maria Hawthorne

49,884 1,013,026

Joseph Russell

200,686 3,098,480

John Petersen

409,770 0

Jennifer Dunbar

0 0

James Kropp

0 0

Sara Lewis

0 0

Gary Pruitt

0 0

Robert Rollo

0 0

Peter Schultz

0 0