Company: GTY
Filing Date: 2025-03-13
Form Type: DEF 14A
Source: 0001140361-25-008521
Chunk: 44

Company: GETTY REALTY CORP /MD/
Filing Date: 2025-03-13
Form: DEF 14A
Chunk 44
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 plans. We do not utilize compensation policies or practices that create risks which are reasonably likely to have a material adverse effect on the Company. This “Compensation Discussion and Analysis” section describes generally the compensation policies and practices that the Company applies to our Chief Executive Officer (“CEO”), Christopher J. Constant, Chief Operating Officer and Chief Investment Officer, Mark J. Olear, our Chief Financial Officer (“CFO”), Brian R. Dickman, and our General Counsel, Joshua Dicker (each of the foregoing, a NEO). For additional details about our NEOs for 2024, see “Executive Officers” at page 31of this Proxy Statement and “Summary Compensation Table” at page 48of this Proxy Statement. 2024 Company Performance Highlights The following presents a summary of certain financial and operational highlights achieved by the Company in 2024 which, among other factors, were considered by the Compensation Committee in reaching its determinations regarding the performance and compensation of our NEOs. (See our filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2024, for additional details regarding each of these highlights.)

| ■ | Financial Performance.2024 was a highly productive year for the Company, as we successfully executed on our growth and diversification strategies. The Company delivered on our key financial objectives and maintained our positive earnings trajectory, as measured by adjusted funds from operations (“AFFO”), which we believe provides the most useful measure of our core operating performance. For the year ended December 31, 2024, the Company reported net earnings of $71.1 million, or $1.25 per diluted share, as compared to net earnings of $60.2 million, or $1.15 per diluted share, in the prior year; funds from operations (“FFO”) of $124.0 million, or $2.21 per diluted share, as compared to FFO of $106.1 million, or $2.06 per diluted share, in the prior year; and AFFO of $130.8 million, or $2.34 per diluted share, as compared to AFFO of $115.8 million, or $2.25 per diluted share, in the prior year.1The Company also increased its dividend by 4.4% to an annualized rate of $1.88 per share, making 2024 the tenth consecutive year that the Company’s Board of Directors significantly increased the Company’s recurring cash dividend. For the year ended December