Equibles does not estimate personal net worth.
Earlier roles on record: CFO at Apollo Commercial Real Estate Finance, Inc. (ARI) until January 21, 2022 and CFO at Claros Mortgage Trust, Inc. (CMTG) until November 17, 2023. Claros Mortgage Trust, Inc. reported in an 8-K filed November 9, 2023 that Jai Agarwal resigned as chief financial officer, effective November 17, 2023. The proxy statement of Claros Mortgage Trust, Inc. reports total compensation of $397,159 for Jai Agarwal in fiscal 2023, including a base salary of $397,159. Disclosed compensation is on record for 7 fiscal years. Jai Agarwal has spoken on 12 earnings calls across 2 companies, most recently for Claros Mortgage Trust, Inc. on November 1, 2023. Those appearances were for Claros Mortgage Trust, Inc. (CMTG) and Apollo Commercial Real Estate Finance, Inc. (ARI). The companies whose calls Jai Agarwal spoke on are classified in the Real Estate sector.
“On November 6, 2023, Jai Agarwal notified Claros Mortgage Trust, Inc. (the "Company") of his decision to resign as chief financial officer of the Company, effective as of November 17, 2023.”
“For the third quarter of 2023, we reported distributable earnings, excluding net realized losses, of $0.35 per share, which comfortably covers our revised dividend of $0.25 per share.”
“For the second quarter of 2023, we reported distributable earnings, excluding net realized losses of $0.35 per share. Including net realized losses, the distributable loss was $0.01 per share.”
“For the first quarter of 2023, our distributable earnings were $0.29 per share. The decline of $0.09 per share from last quarter was primarily related to two items.”
“For the fourth quarter of 2022, distributable earnings increased to $53.7 million or $0.38 per share compared to $47.1 million or $0.33 per share last quarter. This was primarily due to higher benchmark rates, continued capital deployment, as well as the performance of the REO hotel portfolio.”
“For the third quarter of 2022, our distributable earnings were $47.1 million or $0.33 per share, and GAAP net income was $42.1 million or $0.30 per share. Our current quarterly dividend is $0.37 per share, which is an 8.2% yield to book value.”
2022-02-25–2023-11-17
Start not stated–2022-01-21
Start not stated–2023-11-17
REIT - Mortgage · Real Estate
CFO
2022-02-25–2023-11-17
Compensation components disclosed in company proxy statements. Amounts are nominal USD; total is the company-reported figure.
| Fiscal year | Company | Role | Salary | Total |
|---|---|---|---|---|
| 2023 | Claros Mortgage Trust, Inc. (CMTG) | Former Chief Financial Officer | $397,159 | $397,159 |
| 2022 | Apollo Commercial Real Estate Finance, Inc. (ARI) | Chief Financial Officer, Treasurer and Secretary (ceased serving as Chief Financial Officer, Treasurer and Secretary on January 21, 2022) | $22,909 | $37,984 |
| 2022 | Claros Mortgage Trust, Inc. (CMTG) | Former Chief Financial Officer | $250,551 | $999,351 |
| 2021 | Apollo Commercial Real Estate Finance, Inc. (ARI) | Chief Financial Officer, Treasurer and Secretary (ceased serving as Chief Financial Officer, Treasurer and Secretary on January 21, 2022) | $288,000 | $361,968 |
| 2021 | Claros Mortgage Trust, Inc. (CMTG) | Former Chief Financial Officer | — | — |
| 2020 | Apollo Commercial Real Estate Finance, Inc. (ARI) | Chief Financial Officer, Treasurer and Secretary (ceased serving as Chief Financial Officer, Treasurer and Secretary on January 21, 2022) | $256,500 | $948,720 |
| 2020 | Claros Mortgage Trust, Inc. (CMTG) | Chief Financial Officer | — | — |
| 2019 | Apollo Commercial Real Estate Finance, Inc. (ARI) | Chief Financial Officer, Treasurer and Secretary | $238,500 | $909,972 |
| 2018 | Apollo Commercial Real Estate Finance, Inc. (ARI) | Chief Financial Officer, Treasurer and Secretary | $225,000 | $836,072 |
| 2017 | Apollo Commercial Real Estate Finance, Inc. (ARI) | Chief Financial Officer, Treasurer and Secretary | $211,500 | $736,236 |
