ELME•Elme Communities will pay three officers a total of $7.75 million when their retention agreements end on November 6, 2026. Paul McDermott will receive $5.06 million, Tiffany Butcher $1.66 million and W. Drew Hammond $1.03 million.
Elme Communities will terminate the three officers’ retention agreements effective November 6, following the board’s October 28 decision. Under agreements signed January 22, 2026, McDermott will receive a $5.06 million cash lump sum, Butcher $1.66 million in cash and Hammond $1.03 million. After the expected dissolution on November 6, the liquidating trust expects to engage Butcher and Hammond as part-time, as-needed consultants.
