Company: EGP
Filing Date: 2025-02-12
Form Type: 10-K
Source: 0000049600-25-000019
Chunk: 201

Company: EASTGROUP PROPERTIES INC
Filing Date: 2025-02-12
Form: 10-K
Item: Item 3
Chunk 201
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 and individual annual performance goals over the upcoming year. The certain Company performance measures for 2024 are:  (i) funds from operations “FFO” per share, (ii) cash same property net operating income change, (iii) debt-to-EBITDAre ratio, and (iv) fixed charge coverage.  The Company begins recognizing expense for its estimate of the shares that could be earned pursuant to these awards on the grant date; the expense is adjusted to estimated performance levels during the performance period and to actual upon the determination of the awards.  The shares are expensed using the graded vesting attribution method which recognizes each separate vesting portion of the award as a separate award on a straight-line basis over the requisite service period (34% vests at the end of the one year performance period and 33% vests in each of the following two years).    The following table presents the Company performance measures component of the annual equity compensation awards for the three years ended December 31, 2024:2024 Award2023 Award2022 AwardGrant date2/26/20243/2/20233/3/2022Performance period1/1/24 - 12/31/241/1/23 - 12/31/231/1/22 - 12/31/22Range of earnable shares - low end of range— — — Range of earnable shares - high end of range18,548 21,438 13,289 Shares determinedN/A (1)21,438 12,761 Grant date share price$179.17 165.83 193.54 (1)  The performance conditions for this award have not yet been satisfied and the number of shares have not yet been determined.Any shares issued pursuant to the individual annual performance goals are determined by the Committee in its discretion following the performance period.  The Company begins recognizing the expense for the shares on the grant date and expenses on a straight-line basis over the remaining service period (34% vests at the end of the one year performance period and 33% vests in each of the following two years).The following table presents the individual performance goals component of the annual equity compensation awards for the three years ended December 31, 2024:2024 Award2023 Award2022 AwardGrant dateN/A (1)2/14/20242/15/2023Performance period1/1/24 - 12/31/241/1/23 -