Company: EGP
Filing Date: 2025-02-12
Form Type: 10-K
Source: 0000049600-25-000019
Chunk: 50

Company: EASTGROUP PROPERTIES INC
Filing Date: 2025-02-12
Form: 10-K
Item: Item 15
Chunk 50
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 years.During the restricted period for granted and unvested awards, dividends are accrued based upon the number of shares expected to be awarded.  As of December 31, 2024, 2023 and 2022, accrued dividends on unvested restricted stock were $1,617,000, $1,921,000 and $1,610,000, respectively.  Of the shares that vested in 2024, 2023 and 2022, 33,381 shares, 31,254 shares and 34,251 shares, respectively, were withheld by the Company to satisfy the tax obligations for those employees who elected this option as permitted under the applicable equity plan.   Following is a summary of the total restricted shares granted, forfeited and delivered (vested) to employees 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 $11,270,000, $8,562,000 and $8,654,000, respectively.  As of the vesting dates, the aggregate fair value of shares that vested during 2024, 2023 and 2022 was $14,324,000, $11,304,000 and $17,124,000, respectively.Restricted Stock Activity:Years Ended December 31,202420232022 SharesWeighted AverageGrant DateFair Value SharesWeighted AverageGrant DateFair Value SharesWeighted AverageGrant DateFair ValueUnvested at beginning of year80,282 $153.43 96,708 $131.79 106,056 $116.37 Granted (1) (2)84,308 133.68 57,741 148.28 71,217 121.52 Forfeited (2,545)156.45 (1,015)144.79 — — Vested (77,976)124.12 (73,152)120.87 (80,565)102.42 Unvested at end of year 84,069 160.72 80,282 153.43 96,708 131.79 (1)  Includes restricted shares granted during the year without performance or market conditions. Also includes restricted shares granted