Sotherly Hotels Chairman Andrew Sims' 2023 pay rises 19% to $885K
Sotherly Hotels reports 2023 executive compensation
By ExecPay News
Published: March 27, 2024
Sotherly Hotels reported fiscal year 2023 executive compensation information on March 27, 2024.
In 2023, three executives at Sotherly Hotels received on average a compensation package of $770K, a 16% increase compared to previous year.
Average pay of disclosed executives at Sotherly Hotels
Andrew M. Sims, Chairman, received $885K in total, which increased by 19% compared to 2022. 61% of Sims' compensation, or $543K, was in salary. Sims also received $127K in bonus, $138K in stock awards, as well as $76K in other compensation.
For fiscal year 2023, the median employee pay was $355,547 at Sotherly Hotels. Therefore, the ratio of Andrew M. Sims' pay to the median employee pay was 2 to one.
David. R. Folsom, Chief Executive Officer, received a compensation package of $815K, which increased by 11% compared to previous year. 66% of the compensation package, or $538K, was in salary.
Anthony E. Domalski, Chief Financial Officer, earned $610K in 2023, a 18% increase compared to previous year.
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Source: SEC filing on March 27, 2024.