Pay vs Performance Disclosure - USD ($)
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12 Months Ended |
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
Dec. 31, 2020 |
| Pay vs Performance Disclosure |
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| Pay vs Performance Disclosure, Table |
This section provides disclosure about the relationship between executive compensation actually paid to our principal executive officer (PEO) and non-PEO NEOs and certain financial performance measures of the Company for the fiscal years listed below. This disclosure has been prepared in accordance with Item 402(v) of Regulation S-K under the Securities Exchange Act of 1934 (the “Pay Versus Performance Rules”) and does not necessarily reflect how the Compensation Committee evaluates compensation decisions.
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Summary
Compensation
Table Total for
PEO |
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Compensation Actually Paid to PEO (2)(3)
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Average Summary Compensation Table Total for Non-PEO
NEOs |
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Average Compensation Actually Paid to Non-PEO
NEOs (2)(4)
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Value of Initial Fixed $100 Investment Based On: (5)
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Pre-Tax
Net Income (millions) (6)
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Peer Group
Total
Stockholder
Return |
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2023 |
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$ |
10,407,564 |
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$ |
13,852,094 |
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$ |
1,343,256 |
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$ |
1,896,804 |
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$ |
123.12 |
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$ |
128.05 |
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$ |
(34.0 |
) |
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$ |
(40.4 |
) |
2022 |
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$ |
7,532,900 |
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$ |
3,519,692 |
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$ |
3,698,899 |
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$ |
2,691,110 |
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$ |
95.24 |
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$ |
106.44 |
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$ |
104.2 |
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$ |
142.0 |
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2021 |
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$ |
8,224,777 |
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$ |
10,965,723 |
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$ |
2,572,998 |
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$ |
2,981,491 |
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$ |
138.15 |
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$ |
163.37 |
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$ |
142.5 |
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$ |
193.3 |
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2020 |
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$ |
5,257,504 |
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$ |
5,059,672 |
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$ |
714,373 |
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$ |
749,696 |
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$ |
99.95 |
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$ |
93.48 |
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$ |
42.8 |
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$ |
59.4 |
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| (1) |
The following table lists the PEO and non-PEO NEOs for each of fiscal years 2020, 2021, 2022 and 2023. |
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| 2023 |
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Hessam Nadji |
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Steven F. DeGennaro, Richard Matricaria, John David Parker, and Gregory A. LaBerge |
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| 2022 |
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Hessam Nadji |
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Steven F. DeGennaro, Richard Matricaria, John David Parker, and Gregory A. LaBerge |
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| 2021 |
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Hessam Nadji |
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Steven F. DeGennaro, Richard Matricaria, John David Parker, and Gregory A. LaBerge |
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| 2020 |
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Hessam Nadji |
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Steven F. DeGennaro, Martin E. Louie, and Gregory A. LaBerge |
| (2) |
The dollar amounts reported represent the amount of “compensation actually paid,” as calculated in accordance with the Pay Versus Performance Rules. These dollar amounts do not reflect the actual amounts of compensation earned by or paid to our NEOs during the applicable year. For purposes of calculating “compensation actually paid,” the fair value of equity awards is calculated in accordance with ASC Topic 718 using the same assumption methodologies used to calculate the grant date fair value of awards for purposes of the Summary Compensation Table (refer to “Executive Compensation and Other Information – Summary Compensation Table” for additional information). |
| (3) |
The following table shows the amounts deducted from and added to the Summary Compensation Table total to calculate “compensation actually paid” to Mr. Nadji in accordance with the Pay Versus Performance Rules: |
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Compensation
Actually Paid to
PEO |
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Summary
Compensation
Table Total
for PEO |
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Year End Fair
Value of Equity
Awards Granted
in the Year and
Unvested at
Year End |
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Year over
Year Change
in Fair Value
of Outstanding
and Unvested
Equity
Awards
Granted in
Prior Years |
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Fair
Value
as of
Vesting
Date of
Equity
Awards
Granted
and
Vested
in the
Year |
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Change in Fair
Value of Equity
Awards Granted
in Prior Years
that Vested in
the Year |
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Fair Value
at the End of
the Prior
Year
of Equity
Awards that
Failed to
Meet Vesting
Conditions
in the Year |
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Value of
Dividends
or other
Earnings
Paid on
Stock or
Option
Awards
not
Otherwise
Reflected
in Fair
Value |
2023 |
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$10,407,564 |
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$— |
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$— |
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$8,646,760 |
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$10,570,560 |
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$1,698,320 |
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$— |
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$(177,590) |
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$— |
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$— |
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$13,852,094 |
2022 |
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$7,532,900 |
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$— |
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$— |
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$4,350,680 |
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$3,169,400 |
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($2,588,010) |
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$— |
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($243,918) |
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$— |
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$— |
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$3,519,692 |
2021 |
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$8,224,777 |
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$— |
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$— |
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$3,597,200 |
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$4,581,600 |
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$1,856,196 |
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$— |
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($99,650) |
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$— |
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$— |
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$10,965,723 |
2020 |
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$5,257,504 |
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$— |
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$— |
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$3,376,400 |
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$3,314,760 |
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($826) |
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$— |
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($135,366) |
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$— |
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$— |
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$5,059,672 |
| (4) |
The following table shows the amounts deducted from and added to the average Summary Compensation Table total compensation to calculate the average “compensation actually paid” to our non-PEO NEOs in accordance with the Pay Versus Performance Rules: |
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Compensation Actually Paid to Non-PEO NEOs
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Summary Compensation Table Total for Non-PEO
NEOs |
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Year End Fair
Value of Equity
Awards Granted
in the Year and
Unvested at Year
End |
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Year over
Year Change
in Fair Value
of Outstanding
and Unvested
Equity Awards
Granted in
Prior Years |
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Fair
Value
as of
Vesting
Date of
Equity
Awards
Granted
and
Vested
in the
Year |
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Change in
Fair
Value of
Equity
Awards
Granted
in Prior
Years that
Vested in
the Year |
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Fair Value
at the End of
the Prior
Year
of Equity
Awards that
Failed to
Meet Vesting
Conditions
in the Year |
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Value of
Dividends
or other
Earnings
Paid on
Stock or
Option
Awards
not
Otherwise
Reflected
in Fair
Value |
2023 |
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$1,343,256 |
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$— |
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$— |
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$537,746 |
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$656,478 |
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$483,239 |
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$— |
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$(48,423) |
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$— |
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$— |
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$1,896,804 |
2022 |
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$3,698,899 |
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$— |
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$— |
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$2,229,889 |
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$1,624,438 |
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($347,643) |
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$— |
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($54,695) |
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$— |
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$— |
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$2,691,110 |
2021 |
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$2,572,998 |
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$— |
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$— |
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$548,280 |
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$717,568 |
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$237,467 |
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$— |
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$1,738 |
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$— |
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$— |
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$2,981,491 |
2020 |
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$714,373 |
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$— |
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$— |
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$179,888 |
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$216,912 |
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($26) |
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$— |
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($1,675) |
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$— |
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$— |
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$749,696 |
| (5) |
In accordance with the Pay Versus Performance Rules, the Company and the Company’s peer group total stockholder return (the “Peer Group TSR”) is determined based on the value of an initial fixed investment of $100 on December 31, 2019, through the end of the listed fiscal year. The Peer Group TSR set forth in this table was determined using the Company’s industry peer group (“Peer Group Index”), which we also use in preparing the stock performance graph required by Item 201(e) of Regulation S-K for our Annual Report for the fiscal year ended December 31, 2023. The Peer Group Index is comprised of the following publicly-traded real estate services companies: CBRE Group, Inc., Colliers International Group, Inc., Cushman & Wakefield plc, Jones Lang LaSalle Incorporated, and Newmark Group Inc. The Peer Group Index is weighted by each company’s stock market capitalization at the beginning of each fiscal year. |
| (6) |
We have determined that pre-tax net income is the financial performance measure that, in the Company’s assessment, represents the most important financial performance measure used to link “compensation actually paid” to our NEOs, for fiscal year 2023, to company performance (the “Company Selected Measure” as defined in the Pay Versus Performance Rules). |
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| Company Selected Measure Name |
Pre-Tax Net Income
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| Named Executive Officers, Footnote |
| (1) |
The following table lists the PEO and non-PEO NEOs for each of fiscal years 2020, 2021, 2022 and 2023. |
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| 2023 |
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Hessam Nadji |
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Steven F. DeGennaro, Richard Matricaria, John David Parker, and Gregory A. LaBerge |
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| 2022 |
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Hessam Nadji |
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Steven F. DeGennaro, Richard Matricaria, John David Parker, and Gregory A. LaBerge |
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| 2021 |
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Hessam Nadji |
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Steven F. DeGennaro, Richard Matricaria, John David Parker, and Gregory A. LaBerge |
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| 2020 |
|
Hessam Nadji |
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Steven F. DeGennaro, Martin E. Louie, and Gregory A. LaBerge |
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| Peer Group Issuers, Footnote |
In accordance with the Pay Versus Performance Rules, the Company and the Company’s peer group total stockholder return (the “Peer Group TSR”) is determined based on the value of an initial fixed investment of $100 on December 31, 2019, through the end of the listed fiscal year. The Peer Group TSR set forth in this table was determined using the Company’s industry peer group (“Peer Group Index”), which we also use in preparing the stock performance graph required by Item 201(e) of Regulation S-K for our Annual Report for the fiscal year ended December 31, 2023. The Peer Group Index is comprised of the following publicly-traded real estate services companies: CBRE Group, Inc., Colliers International Group, Inc., Cushman & Wakefield plc, Jones Lang LaSalle Incorporated, and Newmark Group Inc. The Peer Group Index is weighted by each company’s stock market capitalization at the beginning of each fiscal year.
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| PEO Total Compensation Amount |
$ 10,407,564
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$ 7,532,900
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$ 8,224,777
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$ 5,257,504
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| PEO Actually Paid Compensation Amount |
$ 13,852,094
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3,519,692
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10,965,723
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5,059,672
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| Adjustment To PEO Compensation, Footnote |
| (3) |
The following table shows the amounts deducted from and added to the Summary Compensation Table total to calculate “compensation actually paid” to Mr. Nadji in accordance with the Pay Versus Performance Rules: |
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Compensation
Actually Paid to
PEO |
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Summary
Compensation
Table Total
for PEO |
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Year End Fair
Value of Equity
Awards Granted
in the Year and
Unvested at
Year End |
|
Year over
Year Change
in Fair Value
of Outstanding
and Unvested
Equity
Awards
Granted in
Prior Years |
|
Fair
Value
as of
Vesting
Date of
Equity
Awards
Granted
and
Vested
in the
Year |
|
Change in Fair
Value of Equity
Awards Granted
in Prior Years
that Vested in
the Year |
|
Fair Value
at the End of
the Prior
Year
of Equity
Awards that
Failed to
Meet Vesting
Conditions
in the Year |
|
Value of
Dividends
or other
Earnings
Paid on
Stock or
Option
Awards
not
Otherwise
Reflected
in Fair
Value |
2023 |
|
$10,407,564 |
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$— |
|
$— |
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$8,646,760 |
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$10,570,560 |
|
$1,698,320 |
|
$— |
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$(177,590) |
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$— |
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$— |
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$13,852,094 |
2022 |
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$7,532,900 |
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$— |
|
$— |
|
$4,350,680 |
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$3,169,400 |
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($2,588,010) |
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$— |
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($243,918) |
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$— |
|
$— |
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$3,519,692 |
2021 |
|
$8,224,777 |
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$— |
|
$— |
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$3,597,200 |
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$4,581,600 |
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$1,856,196 |
|
$— |
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($99,650) |
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$— |
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$— |
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$10,965,723 |
2020 |
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$5,257,504 |
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$— |
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$— |
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$3,376,400 |
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$3,314,760 |
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($826) |
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$— |
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($135,366) |
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$— |
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$— |
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$5,059,672 |
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| Non-PEO NEO Average Total Compensation Amount |
$ 1,343,256
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3,698,899
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2,572,998
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714,373
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| Non-PEO NEO Average Compensation Actually Paid Amount |
$ 1,896,804
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2,691,110
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2,981,491
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749,696
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| Adjustment to Non-PEO NEO Compensation Footnote |
| (4) |
The following table shows the amounts deducted from and added to the average Summary Compensation Table total compensation to calculate the average “compensation actually paid” to our non-PEO NEOs in accordance with the Pay Versus Performance Rules: |
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Compensation Actually Paid to Non-PEO NEOs
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Summary Compensation Table Total for Non-PEO
NEOs |
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Year End Fair
Value of Equity
Awards Granted
in the Year and
Unvested at Year
End |
|
Year over
Year Change
in Fair Value
of Outstanding
and Unvested
Equity Awards
Granted in
Prior Years |
|
Fair
Value
as of
Vesting
Date of
Equity
Awards
Granted
and
Vested
in the
Year |
|
Change in
Fair
Value of
Equity
Awards
Granted
in Prior
Years that
Vested in
the Year |
|
Fair Value
at the End of
the Prior
Year
of Equity
Awards that
Failed to
Meet Vesting
Conditions
in the Year |
|
Value of
Dividends
or other
Earnings
Paid on
Stock or
Option
Awards
not
Otherwise
Reflected
in Fair
Value |
2023 |
|
$1,343,256 |
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$— |
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$— |
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$537,746 |
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$656,478 |
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$483,239 |
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$— |
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$(48,423) |
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$— |
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$— |
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$1,896,804 |
2022 |
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$3,698,899 |
|
$— |
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$— |
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$2,229,889 |
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$1,624,438 |
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($347,643) |
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$— |
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($54,695) |
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$— |
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$— |
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$2,691,110 |
2021 |
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$2,572,998 |
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$— |
|
$— |
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$548,280 |
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$717,568 |
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$237,467 |
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$— |
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$1,738 |
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$— |
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$— |
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$2,981,491 |
2020 |
|
$714,373 |
|
$— |
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$— |
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$179,888 |
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$216,912 |
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($26) |
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$— |
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($1,675) |
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$— |
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$— |
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$749,696 |
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| Compensation Actually Paid vs. Total Shareholder Return |
Compensation Actually Paid and TSR
* Assumes $100 invested on 12/31/2019
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| Compensation Actually Paid vs. Net Income |
Compensation Actually Paid and Net Income and Pre-Tax Net Income
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| Compensation Actually Paid vs. Company Selected Measure |
Compensation Actually Paid and Net Income and Pre-Tax Net Income
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| Total Shareholder Return Vs Peer Group |
TSR of the Company and TSR of the Peer Group
* Assumes $100 invested on 12/31/2019
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| Tabular List, Table |
Required Tabular Disclosure of Most Important Measures As described in greater detail in “Compensation Discussion and Analysis,” the Company’s executive compensation program reflects a variable philosophy. The most important financial performance measure used by the Company to link executive compensation actually paid to the Company’s NEOs, for the most recently completed fiscal year, to the Company’s performance is
Pre-Tax Net Income. |
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| Total Shareholder Return Amount |
$ 123.12
|
95.24
|
138.15
|
99.95
|
| Peer Group Total Shareholder Return Amount |
128.05
|
106.44
|
163.37
|
93.48
|
| Net Income (Loss) |
$ (34,000,000)
|
$ 104,200,000
|
$ 142,500,000
|
$ 42,800,000
|
| Company Selected Measure Amount |
(40,400,000)
|
142,000,000
|
193,300,000
|
59,400,000
|
| PEO Name |
Mr. Nadji
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| Measure:: 1 |
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| Pay vs Performance Disclosure |
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| Name |
Pre-Tax Net Income
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| PEO | Stock Awards [Member] |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
$ 8,646,760
|
$ 4,350,680
|
$ 3,597,200
|
$ 3,376,400
|
| PEO | Year End Fair Value Of Equity Awards Granted In The Year And Unvested At Year End Year over [Member] |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
10,570,560
|
3,169,400
|
4,581,600
|
3,314,760
|
| PEO | Year Over Year Change In Fair Value Of Outstanding And Unvested Equity Awards Granted In Prior Years [Member] |
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| Pay vs Performance Disclosure |
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|
| Adjustment to Compensation, Amount |
1,698,320
|
2,588,010
|
1,856,196
|
826
|
| PEO | Change In Fair Value Of Equity Awards Granted In Prior Years That Vested In The Year [Member] |
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|
| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
(177,590)
|
243,918
|
99,650
|
135,366
|
| Non-PEO NEO | Stock Awards [Member] |
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|
| Pay vs Performance Disclosure |
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|
| Adjustment to Compensation, Amount |
537,746
|
2,229,889
|
548,280
|
179,888
|
| Non-PEO NEO | Year End Fair Value Of Equity Awards Granted In The Year And Unvested At Year End Year over [Member] |
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| Pay vs Performance Disclosure |
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|
| Adjustment to Compensation, Amount |
656,478
|
1,624,438
|
717,568
|
216,912
|
| Non-PEO NEO | Year Over Year Change In Fair Value Of Outstanding And Unvested Equity Awards Granted In Prior Years [Member] |
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|
| Pay vs Performance Disclosure |
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|
| Adjustment to Compensation, Amount |
483,239
|
347,643
|
237,467
|
26
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| Non-PEO NEO | Change In Fair Value Of Equity Awards Granted In Prior Years That Vested In The Year [Member] |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
$ (48,423)
|
$ 54,695
|
$ 1,738
|
$ 1,675
|
