CBL · CBL & Associates Properties, Inc.

Summary

On February 11, 2026, CBL & Associates Properties, Inc. approved amendments to Executive Employment Agreements for five Named Executive Officers, established the 2026 Annual Incentive Compensation Plan with target bonuses representing a 3% increase over 2025, and approved the 2026 Long Term Incentive Compensation Program consisting of Performance Stock Units and Restricted Stock Awards.

Key takeaways

• The Compensation Committee approved amendments to Executive Employment Agreements for five NEOs, resetting base salaries (CEO: $719,442) and updating severance and change of control provisions effective February 11, 2026.
• The 2026 Annual Incentive Compensation Plan sets the CEO's target cash bonus at $1,517,578, with NEO target bonus levels reflecting a 3% increase over the 2025 plan.
• The 2026 Long Term Incentive Program grants the CEO a target value of $1,556,500, split between Performance Stock Units (70%) and Restricted Stock Awards (30%).
• Employment agreements were updated to provide for uniform continuation of health insurance benefits for 24 months following termination.
• The 2026 LTIP Performance Stock Units will be earned based on relative Total Stockholder Return (30%) and absolute Total Stockholder Return (70%) over a 3-year performance period.