CBL & Associates approves 2024 executive comp plans; CEO target cash bonus $1.4M

CBL & ASSOCIATES PROPERTIES INC

CEO Stephen Lebovitz: target cash bonus $1,403,216 (up 5% from 2023), LTIP target value $1,556,500.
CFO Benjamin Jaenicke: target cash bonus $604,900, LTIP target $1,288,000; funds reallocated from LTIP to AIP.
2024 AIP goals include FFO, NOI, lease signings, ESG targets; CEO pay 70% quantitative / 30% qualitative.
2024 LTIP includes PSUs (60-70% of award) based on relative TSR vs FTSE NAREIT index and absolute TSR threshold of 6% annualized.
Target bonus increase of 5% and $850K total reallocation from LTIP to AIP to adjust cash/equity pay mix.

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