The chief executive officer of Highwoods Properties Inc. earned $4.5 million in 2018, about the same as a year prior, though the salary and stock award split changed significantly.

Ed Fritsch, who began the Raleigh-based real estate investment trust in 1978, received $2.3 million in stock awards in 2018 and $746,000 in salary during the year.

In 2017, his compensation included $1.6 million in stock awards (about 40 percent lower) and $692,300 in salary (8 percent lower).

Fellow executives earned less in total throughout 2018 than a year prior. Non-equity incentive plan compensation — rewards for hitting company performance thresholds approved by Highwoods’ board of directors — fell across the board for the team.

Each executive surpassed their respective target amounts established by Highwoods’ board, but average non-incentive compensation fell 16 percent to $693,050 in 2018 from $825,892 a year ago.

Highwoods’ annual meeting will be held on May 8 at 11:30 a.m. in Suite 600 of the company’s headquarters in Raleigh at 3100 Smoketree Court.

Its stock closed 5 cents lower Friday to $46.78 per share.