Company: EGP
Filing Date: 2025-02-12
Form Type: 10-K
Source: 0000049600-25-000019
Chunk: 205

Company: EASTGROUP PROPERTIES INC
Filing Date: 2025-02-12
Form: 10-K
Item: Item 3
Chunk 205
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 market value of the Company’s Common Stock on such date.  These restricted shares will vest 25% per year over a four-year period upon the performance of future service as a Director, subject to certain exceptions.  The shares are expensed on a straight-line basis over the service period.   Directors were granted 5,040, 4,134 and 5,568 shares of common stock as annual restricted share awards during 2024, 2023 and 2022, respectively.  Stock-based compensation expense for directors was $764,000, $764,000 and $566,000 for 2024, 2023 and 2022, respectively. Following is a summary of the total restricted shares granted, forfeited and delivered (vested) to directors with the related weighted average grant date fair value share prices for 2024, 2023 and 2022.  As of the grant dates, the aggregate fair value of shares that were granted during 2024, 2023 and 2022 was $811,000, $661,000 and $906,000, respectively. As of the vesting dates, the fair value of shares that vested during 2024, 2023 and 2022 was $680,000, $904,000 and $8,000, respectively.Restricted Stock Activity:Years Ended December 31,202420232022 SharesWeighted AverageGrant DateFair Value SharesWeighted AverageGrant DateFair Value SharesWeighted AverageGrant DateFair ValueUnvested at beginning of year4,282 $160.15 5,800 $158.31 156 $120.39 Granted 5,040 160.87 4,134 159.79 5,696 159.00 Forfeited — — — — — — Vested (4,218)159.58 (5,652)158.00 (52)120.39 Unvested at end of year 5,104 161.33 4,282 160.15 5,800 158.31 

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EASTGROUP PROPERTIES, INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(11)COMPREHENSIVE INCOME

Total Comprehensive Income is comprised of net income plus all other changes in equity from non-owner sources and is presented on the