Camden Property Trust Announces Retirement of Executive Vice Chairman D. Keith Oden

Executive Summary

On August 31, 2026, Camden Property Trust (NYSE: CPT) filed a Current Report on Form 8-K under Items 1.01 and 5.02 announcing the retirement of D. Keith Oden from his role as Executive Vice Chairman of the Board of Trust Managers, effective August 31, 2026.

Key Highlights

• Role Transition: Mr. Oden is retiring as an officer/employee of the Company and its subsidiary, Camden Development, Inc., but will remain an active member of Camden Property Trust's Board of Trust Managers.
• Separation & Release Agreement:
  • Mr. Oden's Second Amended and Restated Employment Agreement (dated July 11, 2002, as amended) was terminated.
  • As consideration, Mr. Oden receives an additional retirement benefit comprising a $5,300,000 credit to his cash deferral account under the Company's Non-Qualified Deferred Compensation Plan (DCP).
  • The amount is payable as a lump sum on (or within 30 days after) the fifth anniversary of his Separation Date, subject to deemed investment earnings/losses under the plan rules.
• Restrictive Covenants: The agreement includes customary general releases, a 1-year non-compete, a 1-year non-solicitation of clients/employees, non-disparagement, and confidentiality obligations.

Market & Governance Implications

• Governance Continuity: Maintaining Mr. Oden on the Board preserves institutional knowledge while executing a planned leadership transition.
• Financial Impact: The $5.3M deferred compensation payment represents previously accrued-for amounts he would have been eligible to receive in February 2027 had he remained an active employee, resulting in minimal unbudgeted financial impact to the REIT.