Company: EGP
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0000049600-25-000055
Chunk: 15

Company: EASTGROUP PROPERTIES INC
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 15
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4, following a review of peer group practices with the Compensation Committee’s independent compensation consultant, our Board amended the Independent Director Compensation Policy to increase the annual equity grant for each non-employee director from $110,000 to $135,000, the annual cash retainer for each non-employee director from $60,000 to $75,000, and the annual cash retainer for the Chairman of the Board from $75,000 to $85,000. In addition, increases were made to Board committee chairperson and member annual cash retainers. The recommendations were made to better align our Independent Director Compensation Policy with peer group practices.

#### 32EastGroup Properties

#### Proposal 1: Election of Directors
A non-employee director who is appointed to the Board outside of an annual meeting of shareholders will receive a prorated amount of the applicable annual cash retainer, based on the time between his or her appointment and our next annual meeting of shareholders.

Pursuant to the Independent Director Compensation Policy, non-employee directors receive an annual award of restricted shares of the Company’s common stock, par value $0.0001 per share (“Common Stock”), in connection with their election or re-election to the Board at the annual meeting of shareholders. The annual award consists of restricted shares of the Company’s Common Stock determined by dividing $135,000 by the fair market value of a share of the Company’s Common Stock on the date of grant. If a fraction results, the number of shares is rounded up to the next whole number. The restricted shares vest in full on the earlier of the one-year anniversary of the date of grant or the next annual meeting of shareholders following the date of grant, subject to the non-employee director’s continued service on the Board through such vesting date, subject to certain exceptions. A non-employee director who is appointed to the Board outside of the annual meeting of shareholders will receive a prorated amount of the annual award, based on the time between his or her appointment and our next annual meeting of shareholders.

The Independent Director Compensation Policy also provides that each new non-employee director appointed or elected will receive an automatic award of a number of restricted shares of Common Stock on the effective date of election or appointment, equal to $25,000 divided by the fair market value of a share of the Company’s Common Stock on such date. If a fraction results, the number of shares is rounded up to the next whole number. These restricted shares vest over a four- year period, subject to the