Company: EGP
Filing Date: 2025-02-12
Form Type: 10-K
Source: 0000049600-25-000019
Chunk: 45

Company: EASTGROUP PROPERTIES INC
Filing Date: 2025-02-12
Form: 10-K
Item: Item 15
Chunk 45
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New forward sale agreements (1)406,041 183.92 74,679 Forward Sale Agreements Outstanding at December 31, 2023406,041 $183.92 $74,679 Forward sale agreements settled — shares issued and proceedsreceived (2)(2,698,077)179.63 (484,653)New forward sale agreements (1)2,677,289 178.32 477,420 Forward Sale Agreements Outstanding at December 31, 2024385,253 $175.07 $67,446 (1) The Company did not receive any proceeds from the sale of common shares by the forward counterparties at the time it entered into forward sale agreements.(2) EastGroup settled outstanding forward equity sale agreements by issuing 2,698,077 shares of common stock in exchange for net proceeds of approximately $480,663,000.

(10)STOCK-BASED COMPENSATION

Equity Incentive PlanIn April 2013, the Board of Directors adopted the EastGroup Properties, Inc. 2013 Equity Incentive Plan (the “2013 Equity Plan”) upon the recommendation of the Compensation Committee of the Company's Board of Directors (the “Committee”); the 2013 Equity Plan was approved by the Company’s stockholders and became effective May 29, 2013.  The 2013 Equity Plan was further amended by the Board of Directors in March 2017.  The 2013 Equity Plan permitted the grant of awards to employees and directors with respect to 2,000,000 shares of common stock.  In April 2023, the Board of Directors adopted the EastGroup Properties, Inc. 2023 Equity Incentive Plan (the “2023 Equity Plan”) upon the recommendation of the Committee; the 2023 Equity Plan was approved by the Company’s stockholders and became effective May 25, 2023.  The 2023 Equity Plan permits the grant of awards to employees and directors with respect to 1,500,000 shares of common stock.

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EASTGROUP PROPERTIES, INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS

There were 1,396,713 and 1,484,116 shares available for grant under the 2023 Equity Plan as of December 31, 2024 and 2023, respectively, and 1,422,437