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Douglas Elliman (NYSE: DOUG) raises CFO and General Counsel pay and severance

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Douglas Elliman Inc. updated executive employment agreements for its Chief Financial Officer, J. Bryant Kirkland III, and General Counsel, Bradley H. Brodie.

Mr. Kirkland’s base salary was increased to $650,000 per year from January 1, 2026, with a target bonus set at 65% of base salary. He will receive a one-time $150,000 retention bonus if he remains employed through December 15, 2026 or experiences a qualifying termination, and his severance terms now provide 12 months of severance and bonus based on target, with enhanced benefits if termination occurs within 12 months after a change in control.

Mr. Brodie’s base salary was increased to $575,000 per year from January 1, 2026, with a target bonus equal to 50% of base salary. His severance now includes 12 months of severance and target-based prorated bonus for a qualifying termination, and, if this occurs within 12 months following a change in control, he will receive a lump sum equal to 1.5 times base salary, a full target bonus for that year, and 12 months of subsidized COBRA premiums.

Positive

  • None.

Negative

  • None.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
CFO base salary $650,000 per year Effective January 1, 2026 for J. Bryant Kirkland III
CFO target bonus 65% of base salary Annual target bonus opportunity for CFO
CFO retention bonus $150,000 one-time Payable December 15, 2026 or upon qualifying termination
General Counsel base salary $575,000 per year Effective January 1, 2026 for Bradley H. Brodie
General Counsel target bonus 50% of base salary Annual target bonus opportunity for General Counsel
Severance period 12 months Severance period for qualifying termination for both executives
GC change-in-control multiple 1.5 times base salary Lump-sum payment upon qualifying termination after change in control
COBRA subsidy duration 12 months Subsidized COBRA premiums for qualifying terminations after change in control
qualifying termination of employment financial
"the date of his termination of employment by the Company without cause or resignation of employment in circumstances amounting to good reason (a “qualifying termination of employment”)"
change in control financial
"in the event of a qualifying termination of employment during the twelve (12) months following a change in control of the Company"
A "change in control" occurs when the ownership or management of a company shifts significantly, such as through a merger, acquisition, or sale of a large part of its assets. This change can impact how the company is run and may influence its future direction. For investors, it matters because it can affect the company's stability, strategy, and value, often signaling potential changes in investment risk or opportunity.
target bonus opportunity financial
"his annual target bonus opportunity was increased to 65% of base salary"
COBRA premiums financial
"twelve (12) months of subsidized COBRA premiums following such termination of employment"
Understanding 8-K Material Events →
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 10, 2026
DOUGLAS ELLIMAN INC.
(Exact Name of Registrant as Specified in Its Charter)
Delaware
(State or Other Jurisdiction of Incorporation)
001-41054 87-2176850
(Commission File Number) (I.R.S. Employer Identification No.)
   
4400 Biscayne BoulevardMiamiFlorida 33137
(Address of Principal Executive Offices) (Zip Code)

(305) 579-8000
(Registrant’s Telephone Number, Including Area Code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities Registered Pursuant to 12(b) of the Act:
Title of each class:TradingName of each exchange
Symbol(s)on which registered:
Common stock, par value $0.01 per shareDOUGNew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐



Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Amendment to Executive Employment Agreements with each of J. Bryant Kirkland III and Bradley H. Brodie

On April 10, 2026, Douglas Elliman Inc. (the “Company”) entered into an amendment to its employment agreement with each of J. Bryant Kirkland III, the Company’s Executive Vice President, Treasurer and Chief Financial Officer (the “Kirkland Amendment”) and Bradley H. Brodie, the Company’s Senior Vice President, General Counsel and Secretary (the “Brodie Amendment” and together with the Kirkland Amendment, the “Amendments”).

The Kirkland Amendment

Pursuant to the Kirkland Amendment, Mr. Kirkland’s base salary was increased to $650,000.00 per annum, effective January 1, 2026, and his annual target bonus opportunity was increased to 65% of base salary. The Company also agreed to pay Mr. Kirkland a one-time retention bonus of $150,000, payable on the earlier of December 15, 2026 and the date of his termination of employment by the Company without cause or resignation of employment in circumstances amounting to good reason (a “qualifying termination of employment”), in each case, subject to his continued employment with the Company through such date.

The Kirkland Amendment also amended Mr. Kirkland’s severance payments and benefits such that (i) in the event of Mr. Kirkland’s qualifying termination of employment, the applicable severance period will be twelve (12) months and the applicable prorated bonus payment shall be based on Mr. Kirkland’s target bonus opportunity (instead of actual performance); and (ii) in the event of a qualifying termination of employment during the twelve (12) months following a change in control of the Company, Mr. Kirkland will be entitled to a payment equal to his full target bonus for the year of termination and twelve (12) months of subsidized COBRA premiums following such termination of employment.

The Brodie Amendment

Pursuant to the Brodie Amendment, Mr. Brodie’s base salary was increased to $575,000 per annum, effective January 1, 2026, and his annual target bonus opportunity was increased to 50% of base salary.

The Brodie Amendment also amended Mr. Brodie’s severance payments and benefits such that (i) in the event of Mr. Brodie’s qualifying termination of employment, the applicable severance period will be twelve (12) months and the applicable prorated bonus payment for the year of termination will be based on Mr. Brodie’s target bonus opportunity (instead of actual performance); and (ii) in the event of a qualifying termination of employment during the twelve (12) months following a change in control of the Company, Mr. Brodie will be entitled to a lump sum cash payment equal to one-and-a-half (1.5) times his base salary, a payment equal to his full target bonus for the year of termination, and twelve (12) months of subsidized COBRA premiums following such termination of employment.

The foregoing description of the Amendments is not complete and is qualified in its entirety by reference to the full texts of the Amendments, copies of which will be filed by the Company in a future periodic report under the Securities Exchange Act of 1934, as amended.










SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
  
DOUGLAS ELLIMAN INC.


  By: /s/ J. Bryant Kirkland III
   J. Bryant Kirkland III
   Executive Vice President, Treasurer and
Chief Financial Officer
Date: April 10, 2026

Source: View Original Filing on SEC EDGAR

FAQ

What executive compensation changes did Douglas Elliman (DOUG) make for its CFO?

Douglas Elliman increased CFO J. Bryant Kirkland III’s base salary to $650,000 from January 1, 2026 and raised his target bonus to 65% of base pay. He also becomes eligible for a $150,000 retention bonus and enhanced severance and benefits upon certain qualifying terminations.

How was Douglas Elliman (DOUG) General Counsel Bradley Brodie’s pay updated?

Bradley H. Brodie’s base salary was increased to $575,000 per year starting January 1, 2026, with a target annual bonus set at 50% of base salary. His severance protections were also enhanced, especially following a qualifying termination after a change in control.

What is the new retention bonus arrangement for Douglas Elliman (DOUG) CFO Kirkland?

The company agreed to pay J. Bryant Kirkland III a one-time $150,000 retention bonus. It becomes payable on December 15, 2026 or upon a qualifying termination without cause or for good reason, provided he remains employed with Douglas Elliman through the applicable date.

What severance does Douglas Elliman (DOUG) offer its CFO after a change in control?

If CFO J. Bryant Kirkland III has a qualifying termination within 12 months after a change in control, he is entitled to a payment equal to his full target bonus for that year and 12 months of subsidized COBRA premiums, in addition to a 12‑month severance period.

What enhanced change-in-control benefits did Douglas Elliman (DOUG) grant to its General Counsel?

If Bradley H. Brodie has a qualifying termination during the 12 months following a change in control, he will receive a lump-sum cash payment equal to 1.5 times base salary, his full target bonus for the termination year, and 12 months of subsidized COBRA premiums.

How long is the severance period for Douglas Elliman (DOUG) executives after a qualifying termination?

Both J. Bryant Kirkland III and Bradley H. Brodie now have an applicable severance period of twelve months in the event of a qualifying termination. Their prorated bonus for the termination year is based on their target bonus rather than actual performance.

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