CBRECBRE Group
CBRE is the world’s largest commercial real estate services and investments firm (based on 2025 revenue). 10-K, Item 1
Deals between CBRE and its directors, executives, owners of more than 5% or their families: a relative on the payroll, a plane the company charters from its CEO, a director's company that buys from it. SEC rules (Item 404) make the company list every such deal over $120,000 in its proxy statement. Below: what the proxy filed 2026-04-03 reports that the one filed 2025-04-04 did not, quoted as filed.
New this year
1 newParagraphs about a deal, a person or a relative with nothing like them in the proxy filed 2025-04-04.
Related-Party Transactions and Other Transactions Involving Our Officers and Directors“Vincent Clancy, one of our directors since January 2025, is the Chief Executive Officer and Chair of the Board of Directors of Turner & Townsend Limited (Turner & Townsend), one of our majority-owned subsidiaries. In that capacity, in 2025, Mr. Clancy received total remuneration from Turner & Townsend of approximately £770,921, consisting of salary of £694,250, a £12,250 car allowance and £64,421 in pension contributions. Mr. Clancy is expected to receive similar remuneration from Turner & Townsend in 2026, subject to inflation adjustments. In addition, Mr. Clancy is eligible to participate in the life insurance, private medical and permanent health insurance schemes offered by Turner & Townsend to United Kingdom-based employees. In 2025, Mr. Clancy’s benefit related to these schemes was valued at approximately £6,000. In 2025, Mr. Clancy also received a performance-vesting equity award of $5,000,000 from the company in his capacity as Chief Executive Officer and Chair of the Board of Directors of Turner & Townsend, granted 50% in relative TSR performance-vesting RSUs and 50% in Core EPS performance-vesting RSUs. In connection with his employment, Mr. Clancy and Turner & Townsend entered into an Executive Directors Service Agreement, dated as of April 4, 2008, governing the terms of Mr. Clancy’s employment, including his duties and compensation, and a Variation of Employment Agreement, dated as of July 21, 2021, pursuant to which Mr. Clancy agreed to certain post-termination confidentiality, non-competition and non-solicitation covenants. In addition, in connection with CBRE’s acquisition of an interest in Turner & Townsend, Mr. Clancy and CBRE Titan Acquisition Co. Limited, one of our wholly-owned subsidiaries, entered into a Restrictive Covenant Undertaking, dated as of July 26, 2021, pursuant to which Mr. Clancy agreed to certain non-competition and non-solicitation covenants for a period of 60 months from the closing of that acquisition.”
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The whole section 9 paragraphs, proxy filed 2026-04-03
Related-Party Transactions and Other Transactions Involving Our Officers and Directors“Vincent Clancy, one of our directors since January 2025, is the Chief Executive Officer and Chair of the Board of Directors of Turner & Townsend Limited (Turner & Townsend), one of our majority-owned subsidiaries. In that capacity, in 2025, Mr. Clancy received total remuneration from Turner & Townsend of approximately £770,921, consisting of salary of £694,250, a £12,250 car allowance and £64,421 in pension contributions. Mr. Clancy is expected to receive similar remuneration from Turner & Townsend in 2026, subject to inflation adjustments. In addition, Mr. Clancy is eligible to participate in the life insurance, private medical and permanent health insurance schemes offered by Turner & Townsend to United Kingdom-based employees. In 2025, Mr. Clancy’s benefit related to these schemes was valued at approximately £6,000. In 2025, Mr. Clancy also received a performance-vesting equity award of $5,000,000 from the company in his capacity as Chief Executive Officer and Chair of the Board of Directors of Turner & Townsend, granted 50% in relative TSR performance-vesting RSUs and 50% in Core EPS performance-vesting RSUs. In connection with his employment, Mr. Clancy and Turner & Townsend entered into an Executive Directors Service Agreement, dated as of April 4, 2008, governing the terms of Mr. Clancy’s employment, including his duties and compensation, and a Variation of Employment Agreement, dated as of July 21, 2021, pursuant to which Mr. Clancy agreed to certain post-termination confidentiality, non-competition and non-solicitation covenants. In addition, in connection with CBRE’s acquisition of an interest in Turner & Townsend, Mr. Clancy and CBRE Titan Acquisition Co. Limited, one of our wholly-owned subsidiaries, entered into a Restrictive Covenant Undertaking, dated as of July 26, 2021, pursuant to which Mr. Clancy agreed to certain non-competition and non-solicitation covenants for a period of 60 months from the closing of that acquisition.”
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Related-Party Transactions and Other Transactions Involving Our Officers and Directors“Jamie Hodari, our Chief Executive Officer, Building Operations & Experience, and Chief Commercial Officer is party to a Restrictive Covenants Agreement with CBRE, Inc., a Delaware corporation and wholly-owned subsidiary of the company, dated January 13, 2025 (the Restrictive Covenants Agreement), which, among other things, provides for the non-solicitation and no-hire of certain company employees and restricts Mr. Hodari’s business activities related to flexible, collaborative and/or shared office space and related real estate-based services, all for a term of three-years. Mr. Hodari entered into the Restrictive Covenants Agreement prior to joining the company in his capacity as a shareholder of Industrious National Management Company LLC (Industrious) in connection with the company’s acquisition of Industrious.”
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Related-Party Transactions and Other Transactions Involving Our Officers and Directors“Other than as described above, none of our executive officers or directors were involved in related-party transactions with us during 2025.”
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Review and Approval of Transactions with Interested Persons“We have operated under our Standards of Business Conduct since 2004. As part of our Standards of Business Conduct, our directors and employees are expected to make business decisions and take actions based upon our best interests and not based upon personal relationships or benefits.”
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Review and Approval of Transactions with Interested Persons“Our Board has recognized that some transactions, arrangements, and relationships present a heightened risk of an actual or perceived conflict of interest and has adopted a written Policy Regarding Transactions with Interested Parties and Corporate Opportunities governing these transactions. This policy governs any transaction, arrangement, or relationship (or any series of similar transactions, arrangements, or relationships) in which we were or are to be a participant and the amount involved exceeds $120,000, and in which any of the following persons had or will have a direct or indirect material interest (other than relating to an employment relationship or transaction involving Board- or Compensation Committee-approved executive officer compensation):”
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Review and Approval of Transactions with Interested Persons“any beneficial owner of more than 5% of any class of our voting securities; and • any immediate family member of any of the foregoing natural persons.”
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Review and Approval of Transactions with Interested Persons“Directors and executive officers are required to submit to our Chief Legal & Administrative Officer a description of any current or proposed transaction potentially covered by the policy in advance of participating in such transaction. Our Chief Legal & Administrative Officer is responsible for determining whether the proposed transaction is subject to our policy. If our Chief Legal & Administrative Officer deems such transaction subject to our policy, he will report such transaction to the Audit Committee. The Audit Committee (or in certain cases, the Chair of the Audit Committee) is responsible for evaluating and approving such transactions, and in doing so, the Audit Committee may take into account, among other factors that it deems appropriate, due inquiries of disinterested senior business leaders, disinterested directors, and legal counsel.”
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Review and Approval of Transactions with Interested Persons“The policy is published in the Corporate Governance section of the Investor Relations page on our website at www.cbre.com. The information contained on or accessible through our corporate website is not part of or incorporated by reference into this Proxy Statement.”
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Review and Approval of Transactions with Interested Persons“CBRE 2026 PROXY STATEMENT ANNUAL MEETING INFORMATION — HOW TO ATTEND THE ANNUAL MEETING 99”
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Paragraphs are compared by their words, not read by AI: one counts as new when no paragraph last year shares half of its words, or when it names a person or company last year's section did not. A deal reported again with a new amount is not new. Always check the filing. Open the proxy ↗ · Last year's proxy ↗
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