Definitive proxy statements

Pay vs Performance Disclosure

v3.25.1
Pay vs Performance Disclosure - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table
Pay Versus Performance
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.
 
Year
(1)
  
Summary

Compensation

Table Total for

PEO
    
Compensation

Actually Paid

to PEO
(2)(3)
    
Average

Summary

Compensation

Table Total

for
Non-PEO

NEOs
    
Average

Compensation

Actually Paid

to
Non-PEO

NEOs
(2)(4)
    
Value of Initial Fixed

$100 Investment Based

On:
(5)
    
Net

Income

(Loss)

(millions)
    
Pre-Tax

Net

Income

(Loss)

(millions)
(6)
  
 
Total

Stockholder

Return
    
Peer Group

Total

Stockholder

Return
  
2024
   $ 4,581,674     $ 2,298,554     $ 1,336,933     $ 953,140     $ 109.31     $ 172.38     $ (12.4 )    $ (13.0 ) 
2023
   $ 10,407,564     $ 13,852,094     $ 1,343,281     $ 1,896,829     $ 123.12     $ 128.05     $ (34.0 )    $ (40.4 ) 
2022
   $ 7,532,900     $ 3,519,692     $ 3,698,899     $ 2,691,110     $ 95.24     $ 106.44     $ 104.2     $ 142.0  
2021
   $ 8,224,777     $ 10,965,723     $ 2,572,998     $ 2,981,491     $ 138.15     $ 163.37     $ 142.5     $ 193.3  
2020
   $ 5,257,504     $ 5,059,672     $ 714,373     $ 749,696     $ 99.95     $ 93.48     $ 42.8     $ 59.4  
 
(1)
The following table lists the PEO and
non-PEO
NEOs for each of fiscal years 2021, 2022, 2023 and 2024.
 
     
PEO
   
Non-PEO
NEOs
2024    Hessam Nadji    Steven F. DeGennaro, Richard Matricaria, John David Parker, and Gregory A. LaBerge
2023    Hessam Nadji    Steven F. DeGennaro, Richard Matricaria, John David Parker, and Gregory A. LaBerge
2022    Hessam Nadji    Steven F. DeGennaro, Richard Matricaria, John David Parker, and Gregory A. LaBerge
2021    Hessam Nadji    Steven F. DeGennaro, Richard Matricaria, John David Parker, and Gregory A. LaBerge
2020    Hessam Nadji    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:
 
        
Pension Plan
Adjustments
  
Equity Award Adjustments
  
Compensation
Actually Paid to
PEO
    
Summary
Compensation
Table Total
for PEO
  
Change
in
Pension
Value
  
Pension
Service
Cost
  
Stock
Awards
  
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
2024
   $4,581,674   $—   $—   $2,344,320   $2,754,720   ($1,647,680)   $—   ($1,045,840)   $—   $—   $2,298,554
 
(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:
 
Marcus & Millichap, Inc. | 2025 Proxy Statement | Page 62
        
Pension Plan
Adjustments
  
Equity Award Adjustments
  
Compensation
Actually Paid to
Non-PEO NEOs
    
Summary
Compensation
Table Total
for
Non-PEO
NEOs
  
Change
in
Pension
Value
  
Pension
Service
Cost
  
Stock
Awards
  
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
2024
   $1,336,933   $—   $—   $350,720   $412,070   ($259,535)   $—   ($185,608)   $—   $—   $953,140
 
(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, 2024. 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 2024, to company performance (the “Company Selected Measure” as defined in the Pay Versus Performance Rules).
       
Company Selected Measure Name Pre-Tax Net Income        
Named Executive Officers, Footnote
(1)
The following table lists the PEO and
non-PEO
NEOs for each of fiscal years 2021, 2022, 2023 and 2024.
 
     
PEO
   
Non-PEO
NEOs
2024    Hessam Nadji    Steven F. DeGennaro, Richard Matricaria, John David Parker, and Gregory A. LaBerge
2023    Hessam Nadji    Steven F. DeGennaro, Richard Matricaria, John David Parker, and Gregory A. LaBerge
2022    Hessam Nadji    Steven F. DeGennaro, Richard Matricaria, John David Parker, and Gregory A. LaBerge
2021    Hessam Nadji    Steven F. DeGennaro, Richard Matricaria, John David Parker, and Gregory A. LaBerge
2020    Hessam Nadji    Steven F. DeGennaro, Martin E. Louie, and Gregory A. LaBerge
       
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, 2024. 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. 		       
PEO Total Compensation Amount $ 4,581,674 $ 10,407,564 $ 7,532,900 $ 8,224,777 $ 5,257,504
PEO Actually Paid Compensation Amount $ 2,298,554 13,852,094 3,519,692 10,965,723 5,059,672
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:
 
        
Pension Plan
Adjustments
  
Equity Award Adjustments
  
Compensation
Actually Paid to
PEO
    
Summary
Compensation
Table Total
for PEO
  
Change
in
Pension
Value
  
Pension
Service
Cost
  
Stock
Awards
  
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
2024
   $4,581,674   $—   $—   $2,344,320   $2,754,720   ($1,647,680)   $—   ($1,045,840)   $—   $—   $2,298,554
       
Non-PEO NEO Average Total Compensation Amount $ 1,336,933 1,343,281 3,698,899 2,572,998 714,373
Non-PEO NEO Average Compensation Actually Paid Amount $ 953,140 1,896,829 2,691,110 2,981,491 749,696
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:
 
Marcus & Millichap, Inc. | 2025 Proxy Statement | Page 62
        
Pension Plan
Adjustments
  
Equity Award Adjustments
  
Compensation
Actually Paid to
Non-PEO NEOs
    
Summary
Compensation
Table Total
for
Non-PEO
NEOs
  
Change
in
Pension
Value
  
Pension
Service
Cost
  
Stock
Awards
  
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
2024
   $1,336,933   $—   $—   $350,720   $412,070   ($259,535)   $—   ($185,608)   $—   $—   $953,140
       
Compensation Actually Paid vs. Total Shareholder Return
Compensation Actually Paid and TSR
 

* Assumes $100 invested on 12/31/2019
       
Compensation Actually Paid vs. Net Income
Compensation Actually Paid and Net Income and
Pre-Tax
Net Income
 

 
        
Compensation Actually Paid vs. Company Selected Measure
Compensation Actually Paid and Net Income and
Pre-Tax
Net Income
 

 
        
Total Shareholder Return Vs Peer Group
TSR of the Company and TSR of the Peer Group
 

* Assumes $100 invested on 12/31/2019
       
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
pay-for-performance
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.
       
Total Shareholder Return Amount $ 109.31 123.12 95.24 138.15 99.95
Peer Group Total Shareholder Return Amount 172.38 128.05 106.44 163.37 93.48
Net Income (Loss) $ (12,400,000) $ (34,000,000) $ 104,200,000 $ 142,500,000 $ 42,800,000
Company Selected Measure Amount (13,000,000) (40,400,000) 142,000,000 193,300,000 59,400,000
PEO Name Mr. Nadji        
Measure:: 1          
Pay vs Performance Disclosure          
Name Pre-Tax Net Income        
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 2,754,720        
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (1,647,680)        
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (1,045,840)        
PEO | Stock Awards [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 2,344,320        
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 412,070        
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (259,535)        
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (185,608)        
Non-PEO NEO | Stock Awards [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 350,720