Lawrence L. Gellerstedt, III has been the CEO of Cousins Properties since July 2009, leading the firm with a focus on real estate development. Under his leadership, the company has enjoyed significant growth and achieved complex goals related to funds...

Lawrence L. Gellerstedt, III has been the CEO of Cousins Properties since July 2009, leading the firm with a focus on real estate development. Under his leadership, the company has enjoyed significant growth and achieved complex goals related to funds from operations and leasing. Notably, he received a staggering total compensation of over $2.5 million in 2013, primarily driven by his performance bonuses, reflecting his ability to reach company targets. Lawrence is not just a seasoned executive; prior to his role at Cousins, he held positions like President and CEO of The Gellerstedt Group, showcasing his deep expertise in real estate operations. After a long and successful career, Lawrence announced his retirement effective April 2020, marking the end of an influential period for the company. Interestingly, he received a special retention award worth $3.5 million in equity to ensure leadership stability during market fluctuations. His tenure exemplifies how focused leadership can drive a company's success in a challenging industry.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Cousins Properties CEOs

C

Lawrence L. Gellerstedt, III

CEO of Cousins Properties

Education

Bachelor's degree from the University of North Carolina

Field of Expertise

Real Estate & Construction - Real Estate

Sector of Economy

Real Estate

Born

May 1, 1966 - 58 years ago

CEO of Cousins Properties for

15 years 8 months (Jul 2009 - Present)

Previous Experience

President and Chief Operating Officer of Cousins Properties

Rivals

Competitors/colleagues of Lawrence L. Gellerstedt, III

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Marc Holliday

CEO of SL Green Realty

2023 Compensation

Stock

$0.00

Salary

$1.25M

Bonus

$2.91M

Other

$36.46K

Total Holdings

$89.45M

H

Theodore J. Klinck

CEO of Highwoods Properties

2023 Compensation

Stock

$1.12M

Salary

$757.50K

Bonus

$1.22M

Other

$191.46K

Total Holdings

$12.73M

B

Owen D. Thomas

CEO of Boston Properties

2023 Compensation

Stock

$0.00

Salary

$950.00K

Bonus

$2.72M

Other

$31.64K

Total Holdings

$615.83K

P

C. Brent Smith

CEO of Piedmont Office Realty Trust

2023 Compensation

Stock

$1.29M

Salary

$700.00K

Bonus

$1.05M

Other

$22.75K

Total Holdings

$6.64M

D

Jordan Kaplan

CEO of Douglas Emmett

2023 Compensation

Stock

$9.29M

Salary

$800.00K

Bonus

$0.00

Other

$21.11K

Total Holdings

$45.43M

Holdings

See how much did Lawrence L. Gellerstedt, III make over time.

Lawrence L. Gellerstedt, III's stock holdings paint a picture of a leader whose wealth is closely tied to his company's performance. In 2009, for example, he had a notable stock award vesting of approximately $124,565, which demonstrated significant engagement with...

Lawrence L. Gellerstedt, III's stock holdings paint a picture of a leader whose wealth is closely tied to his company's performance. In 2009, for example, he had a notable stock award vesting of approximately $124,565, which demonstrated significant engagement with Cousins Properties' progress. Over the years, stock and performance-based awards expanded, reflecting his role's increasing emphasis on aligning executive compensation with shareholder interests. In 2013 alone, he was granted 37,691 shares in restricted stock, showcasing the strong trust the board had in his leadership. However, following his retirement announcement in 2020, it was a reminder of how quickly fortunes can change. It raised questions about the future of those holdings and how they would be impacted by market conditions. Lawrence had accumulated a wealth of experience and stock tied to his successful leadership, framing a narrative of both growth and transition.

Insider Trading

See recent insider trades of Lawrence L. Gellerstedt, III.

No insider trades found for this CEO.

Compensation History

See how much did Lawrence L. Gellerstedt, III make over time.

In terms of financial compensation, Lawrence's package reflects his performance-oriented approach as CEO. In 2013, he earned a total of $2,590,428, propelled by a base salary of $600,000 and a bonus of $1,125,000. His bonus structure was linked to achieving performance goals, showcasing a strong performance-based incentive philosophy at Cousins. Interestingly, he also received $844,702 in stock awards that year, though no stock options were vested, highlighting a shift towards restricted stock to enhance retention and performance alignment. The company aimed to ensure executives like Lawrence were motivated not just by short-term gains but long-term shareholder returns. His compensation narrative paints a clear picture of aligning leadership interests with the broader goals of the company – striking a balance between incentivizing performance while managing risks associated with real estate markets.

Year

2013

Total Compensation

$1.75M

Salary

$600.00K

Board Justification

The compensation philosophy aims to attract and retain talented executives while aligning their interests with those of the stockholders through performance-based compensation.

Bonus

$1.13M

Board Justification

Annual cash incentive awards were earned by our NEOs (generally at 150% of target), based on company achievement of performance goals relating to FFO, gross square footage leased, increase in same property net operating income and new investments.

Other

$20.73K

Board Justification

Other compensation includes health, life and disability insurance benefits, and contributions to the 401(k) plan.

Restricted Stock

$0.00(0 N/A)

Board Justification

No stock grants were vested in 2013 as the focus was on performance conditioned RSUs and time vested restricted stock, which are not included in the total compensation calculations.

Performance Metrics

Performance metrics included FFO, gross square footage leased, same property net operating income, and new investments.

Other Cousins Properties CEOs

Here are other CEOs of Cousins Properties

Thomas D. Bell, Jr.

Ex-CEO of Cousins Properties

December 2006 - July 2009