Governance Overview

At AIR, our corporate governance philosophy is rooted in our commitment to high ethical standards and professional responsibility. Our core values: integrity, respect, collaboration, customer focus, and performance guide our commitment to our residents, to our teammates, to our shareholders, and to the communities in which we own, operate, and live.

AIR prides itself on having a well-constructed and high performing Board of diverse backgrounds and expertise with a commitment to long-term shareholder value creation. The Board prioritizes strong corporate governance and corporate responsibility. Each director makes a meaningful investment in the AIR enterprise. Our eight independent directors include equal numbers of men and women and incorporate the perspectives of immigrants from Iraq, Mexico, and Vietnam together with the lived experience of African American, Asian, Hispanic, Middle Eastern, and other ethnicities.

Our Board has long overseen corporate responsibility. The Board’s Governance and Corporate Responsibility Committee includes the eight independent directors and, in partnership with AIR’s Chief Corporate Responsibility Officer, plays an active role in setting the strategy for AIR’s environmental, social, and governance work. Board, committees, and directors are evaluated annually. All board members are subject to annual election and the Board cannot be staggered without shareholder approval. AIR has an intentional approach to regular board refreshment.

View Board of Directors

Awards and Recognition

Stockholder Engagement

AIR conducts regular, ongoing dialogue with holders of more than two-thirds of AIR’s outstanding shares. This shareholder engagement covers a wide range of topics and includes independent directors as well as members of management. In response to shareholder input, AIR has implemented numerous governance changes. Below are some of the highlights:

Board oversight of capital allocation, Board refreshment, separation of the positions of Chairman and CEO, opted out of MUTA provisions regarding classified boards, disclosure regarding Board oversight of political and lobbying expenditures, disclosure regarding performance of “In-progress” LTI Awards, ESG disclosure, and more.

In addition, AIR has peer leading “Say on Pay” with the highest level of support among multifamily peers in each of the last five years.

Governance Policies

Building our reputation on ethical and transparent processes, we value responsible company management, stakeholder engagement, and professional responsibility. Our governance policies are publicly shared and regularly monitored and reviewed by our Board of Directors and Corporate Responsibility task force.

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Board member Kristin Finney Cooke visits with team members in Denver

Board Engagement

The newly refreshed Board of Directors is laser focused on corporate responsibility and provides guidance and oversight on updated Environmental, Social, and Governance (ESG) priorities. The Governance and Corporate Responsibility Committee tracks ESG metrics quarterly with a dynamic scorecard provided and reported on by our Chief Corporate Responsibility Officer. A team approach leverages internal and external experts to drive results in our portfolio, further our community involvement and shareholder engagement and continuously improve board governance. We are committed to uncompromising ethics, transparency, engagement, and progress.

Ann Sperling
Director, Chairman of the Governance and Corporate Responsibility Committee