Company: GTY
Filing Date: 2025-03-13
Form Type: DEF 14A
Source: 0001140361-25-008521
Chunk: 50

Company: GETTY REALTY CORP /MD/
Filing Date: 2025-03-13
Form: DEF 14A
Chunk 50
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9 is deferred until termination of service, pursuant to the terms of the award agreements in effect prior to 2009. All award agreements also provide for vesting of unvested RSUs in the discretion of the Compensation Committee in the event of the “Retirement” (as defined in the award agreement) of the executive officer or other holder. On a total company basis, when appropriate, the Compensation Committee also analyzes (i) the number of shares used by Getty during the year with respect to new equity awards (i.e., burn rates), (ii) the number of shares subject to outstanding equity awards relative to the total number of shares issued and outstanding (i.e., issued equity overhang), and (iii) the number of shares subject to outstanding equity awards and available for future grants relative to the total number of shares issued and outstanding (i.e., total equity overhang). The Compensation Committee believes that analyzing these additional factors allows it to assess whether granting new awards to the NEOs is prudent based on the pool of shares Getty has available for grants to all of Getty’s employees and to take into consideration the impact on the dilution of stockholder interests and overhang. The Compensation Committee’s determination in February 2025 to grant RSUs under the annual equity grant program to Messrs. Constant, Olear, Dickman and Dicker was in keeping with its annual practice of using RSUs as an important part of the total executive compensation program. The Compensation Committee determines each year the appropriate size of RSU awards to grant to the NEOs in furtherance of Getty’s executive compensation philosophy and objectives by reviewing and considering numerous factors, including the following:

| ■ | each NEO’s experience, skills, knowledge, responsibilities, and position with Getty; |

| ■ | the number and value of each NEO’s then unvested equity awards to evaluate the promotion of performance and retention objectives; |

| ■ | each NEO’s total compensation for the year; |

| ■ | each NEO’s personal performance in the year; |

| ■ | each NEO’s contribution to strategic objectives and business goals; and |

| ■ | each NEO’s contributions to the development of long-term value creation. |

The Compensation Committee also believes the annual equity award program in conjunction with the Company's Stock Ownership Policy encourages executive retention by supporting long-term commitment through its five-year vesting schedule and ten-year settlement terms, while also reinforcing alignment with stockholders' interests through sustained equity ownership. In February 2025, the Compensation Committee approved RSU grants to the NEOs