Paul T. McDermott was the CEO of Elme Communities from October 2013 to January 2015. During his time at the helm, he earned a total compensation of approximately $2.4 million in 2014, which included a significant bonus based on performance...
Paul T. McDermott was the CEO of Elme Communities from October 2013 to January 2015. During his time at the helm, he earned a total compensation of approximately $2.4 million in 2014, which included a significant bonus based on performance metrics like core funds from operations and same-store net operating income growth. His focus on cash bonuses rather than stock grants reflects a strategy aimed at direct performance rewards. Since he didn't receive vested stock or exercise options during these years, his pay structure allowed for simpler tracking of results directly linked to his management decisions. Interestingly, this approach shows a preference for immediate results over long-term stock-based incentives, casting sharp focus on short-term business performance. Before his tenure at Elme, specifics on his educational and professional background remain undisclosed, but his results speak to his understanding of managing a real estate investment trust. McDermott's leadership period at Elme was marked by critical financial benchmarks, which molded the company's short-term performance and profitability.