DEI · Douglas Emmett, Inc.

This director transition reflects a planned leadership evolution rather than a response to governance concerns: Mr. Bider’s voluntary retirement after long tenure signals stability, while Mr. Cohen’s appointment brings deep real estate-adjacent expertise as Global Co-Chair of Gensler — a firm with which Douglas Emmett has an active, arms-length service relationship. The Board’s explicit affirmation of Cohen’s independence despite the $2.0 million 2025 engagement underscores confidence in objective oversight. The temporary expansion of the Board to nine members—followed by a return to eight—demonstrates disciplined governance sizing aligned with director succession planning. Cohen’s background in large-scale design, urban development, and institutional advisory roles (ULI, Berkeley Fisher Center, UCLA, USC) adds strategic perspective relevant to Douglas Emmett’s focus on premier coastal office and multifamily assets amid supply-constrained markets. No committee assignments or additional compensation terms beyond the standard non-employee director retainer were disclosed.