L&B says Welltower compensation program ‘likely to lead to inferior’ returns

Land & Buildings Investment Management, issued a white paper on Welltower (WELL), titled “Compensation Plan Hubris: Why Welltower’s Ten-Year Executive Program Is Likely to Lead to Inferior Shareholder Returns”, which provides an analysis of the Ten-Year Executive Continuity and Alignment Program adopted by Welltower’s Board of Directors on October 26, 2025. Land & Buildings believes this Program is a mechanism for transferring enormous wealth from shareholders to management, and that investors should consider selling Welltower shares. “Welltower’s Board has adopted what we believe is the most aggressive executive compensation structure in public REIT history, and adding insult to injury, they have done so without a binding shareholder vote, following a prior 52% say-on-pay result,” said Jonathan Litt, Founder and CIO of Land & Buildings. “Critically, the Board cannot fire Mr. Mitra for poor performance without triggering a $500 million golden parachute. Shareholders who find these terms objectionable effectively have one reliable remedy: sell their shares. This is why we have taken a significant short position in the Company and have published our analysis so that investors can evaluate the facts for themselves.”