Larry Gellerstedt, the 55-year-old CEO of Cousins Properties, got a more than a million dollar boost in total pay after his first full year as CEO.
The Atlanta-based real estate investment trust paid Gellerstedt a total of $1.8 million, compared to $677,365 the year before when he was promoted to the top job, according to a proxy filed Friday with the Securities and Exchange Commission.
Gellerstedt's base salary was $500,000 and cash incentive award was $577,500. He received stock and option awards for a combined $718,464.
Cousins owns the 191 Peachtree building and developed the Terminus project, among others, in Atlanta.
Executive pay is based on achieving four objectives: leasing space in owned projects, selling off land and non-core properties, securing management or other fee-based contracts, and pursuing investment and development opportunities.
The company will hold its annual meeting in Atlanta on May 3.
