Form 4: Veris Residential Director Howard Stern Receives Restricted Stock Grant

Veris Residential, Inc. Director Howard Steven Stern was granted 8,541 restricted shares of common stock as part of the company's 2024 Incentive Stock Plan.

Summary

• On June 11, 2025, Howard Steven Stern, a Director of Veris Residential, Inc. (VRE), was granted 8,541 restricted shares of the company's common stock.
• The shares were granted pursuant to the 2024 Incentive Stock Plan of Veris Residential, Inc.
• These restricted shares will vest on the earlier of June 11, 2026, or the date of the 2026 annual meeting of stockholders of Veris Residential, Inc.
• Following this transaction, Mr. Stern beneficially owns a total of 42,863 shares of common stock.
• The acquisition price for these restricted shares was reported as $0, typical for a stock grant.

Sentiment

Score: 7

Explanation: The sentiment is positive as the stock grant aligns the director's interests with shareholders and is a standard, expected form of compensation, indicating stable corporate governance practices.

Positives

• The grant of restricted stock to Director Howard Steven Stern aligns his interests with those of the shareholders, as his compensation is tied to the company's future performance.
• This transaction is part of a pre-existing incentive stock plan, indicating a structured approach to executive and director compensation.

Future Outlook

The restricted shares granted to Director Howard Steven Stern are set to vest on the earlier of June 11, 2026, or the date of the 2026 annual meeting of stockholders, indicating a future milestone for this equity compensation.

Management Comments

• "On June 11, 2025, the reporting person was granted 8,541 restricted shares of common stock pursuant to the 2024 Incentive Stock Plan of Veris Residential, Inc. The shares shall vest on the earlier to occur of (a) June 11, 2026, or (b) the date of the 2026 annual meeting of stockholders of Veris Residential, Inc."

Industry Context

The granting of restricted stock to directors is a common practice across various industries, including real estate investment trusts (REITs) like Veris Residential, Inc. This method of compensation is widely used to align the interests of board members with those of the company's shareholders, encouraging long-term value creation.

Comparison to Industry Standards

• Stock grants, particularly restricted stock units (RSUs) or restricted shares, are a standard component of director compensation packages in publicly traded companies, including REITs such as Veris Residential, Inc. This practice is consistent with corporate governance best practices aimed at fostering long-term alignment between directors and shareholder interests.
• While the specific number of shares granted can vary based on company size, compensation philosophy, and individual director roles, the mechanism of granting equity under an incentive plan is a global benchmark for non-executive director remuneration.

Related Party Transactions

• Director Howard Steven Stern, a related party, was granted 8,541 restricted shares of common stock by Veris Residential, Inc. as part of his compensation under the 2024 Incentive Stock Plan.

Stakeholder Impact

• Shareholders: The grant of restricted stock to a director helps align the director's long-term interests with those of the shareholders, potentially leading to better decision-making focused on increasing shareholder value.
• Employees (specifically the director): The director receives equity compensation, which is a significant component of their remuneration and incentivizes their continued service and performance.

Next Steps

• The restricted shares granted to Director Howard Steven Stern are expected to vest on the earlier of June 11, 2026, or the date of the 2026 annual meeting of stockholders.

Key Dates

Keywords

Veris Residential, VRE, SEC Form 4, Insider Transaction, Restricted Stock Grant, Director Compensation, Incentive Stock Plan, Equity Compensation