Summary of Compensation Program for Non-Employee Trustees of RPT Realty

Summary

This document outlines the compensation program for non-employee members of the Board of Trustees of RPT Realty. Trustees receive an annual cash retainer and an annual equity retainer in the form of restricted shares, which vest over one year. Additional cash retainers are provided for Trustees serving as Chairman or as chairs of key committees. Trustees are also reimbursed for expenses related to their duties. The equity grants are made under the Trust's 2019 Long-Term Incentive Plan, with specific grant timing and vesting terms.

EX-10.4 2 rpt-12312020_ex104.htm EX-10.4 Document

Exhibit 10.4


SUMMARY OF COMPENSATION FOR
THE BOARD OF TRUSTEES OF
RPT REALTY


The following table sets forth the compensation program for non-employee Trustees:


Annual cash retainer (1)		$	60,000
Additional cash retainer:
	Chairman	100,000
	Audit Committee chair	25,000
	Compensation Committee chair	15,000
	Nominating and Governance Committee chair	15,000

Annual equity retainer (value of restricted shares) (2)		100,000

(1)The annual cash retainer is equal to $160,000 less the grant date fair value, which approximates $100,000, of the restricted shares granted in the applicable year.

(2)Grants are made under the Trust's 2019 LTIP. The restricted shares vest over one year. The grant is made on July 1st or, if not a business day, the business day prior to July 1st. During 2020, 14,286 shares were granted to each Trustee that was in service as of the July 1st date.

The Trust also reimburses all Trustees for all expenses incurred in connection with attending any meetings or performing their duties as Trustees.