Company: EGP
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0000049600-25-000055
Chunk: 45

Company: EASTGROUP PROPERTIES INC
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 45
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 previously earned but remain subject to service- based vesting at the date of retirement (presumed to be December 31, 2024, for purposes of this disclosure) and all performance-based stock awards, pro-rated for the portion of the performance period that the executive was employed and assuming that performance criteria are deemed to be achieved at the target level, based on our closing stock price of $160.49 per share as of December 31, 2024, the last trading day of the year, plus accrued dividends.

For purposes of the footnotes above, average annual compensation means an amount equal to the annual average of the sum of (i) the executive’s annual base salary from the Company plus (ii) the amount of cash bonus paid by the Company to the executive, in each case for the average of the three calendar years that ended immediately before (or, if applicable, coincident with) a specified date, provided that: (A) any such year in which the executive was not employed by the Company is excluded from the averaging period; and (B) the base salary and cash bonus for any such year that reflects a partial year of employment is annualized.

The Company accrues dividends on all stock awards beginning with the first day of the applicable performance period. The accrued dividends are delivered to the executive officer when the stock awards vest. The value of the stock awards in the above table includes the actual value of the dividends accrued with respect to each stock award that is no longer subject to performance criteria.

#### Protection Period
Pursuant to Severance and Change in Control Agreements, each of our executive officers is entitled to severance payments and benefits if his or her employment is terminated (i) by the Company without “cause,” (ii) due to the executive’s death, or (iii) following a “change in control” within the “protection period” listed below, by the Company other than for death, disability or “breach of duty”, or by the executive’s resignation for “good reason” (as each term is defined in the Severance and Change in Control Agreement) (each, a “Qualifying Termination”).

|                                                                                |     | Protection Period |
| Chief Executive Officer, Chief Financial Officer and Executive Vice Presidents |     | 24 months         |
| Senior Vice Presidents                                                         |     | 18 months         |

#### Cash Severance Payment
Upon a Qualifying Termination, the cash portion of each executive’s severance is paid in lump-sum and is based upon the executive