XML 188 R2.htm IDEA: XBRL DOCUMENT

Pay vs Performance Disclosure

12 Months Ended

Dec. 31, 2024

USD ($)

Dec. 31, 2023

USD ($)

Dec. 31, 2022

USD ($)

Dec. 31, 2021

USD ($)

Dec. 31, 2020

USD ($)

Pay vs Performance Disclosure

Pay vs Performance Disclosure, Table


			Average Summary Compensation Table Total for Non-PEO Named Executive Officers ($)(1) (4)	Average Compensation Actually Paid to Non-PEO Named Executive Officers ($)(3) (4)	Value ($) of Initial Fixed $100 Investment Based On:
Year	Summary Compensation Table Total for PEO ($)(1) (2)	Compensation Actually Paid to PEO ($)(2) (3)			Total Shareholder Return ($)(5)	Peer Group Total Shareholder Return($)(5)(6)	Net Income (in thousands) ($)(7)	FFO Per Diluted Share ($)(8)
2024	7,123,038	3,198,715	2,191,323	1,229,579	138.42	123.25	227,807	8.35
2023	6,894,670	11,324,343	2,277,324	3,441,758	153.53	113.35	200,548	7.79
2022	5,467,097	(36,469)	1,875,710	435,024	120.29	99.67	186,274	7.00
2021	5,397,019	14,229,431	1,681,057	4,026,839	179.73	131.78	157,638	6.09
2020	4,666,270	5,689,719	1,618,443	1,892,120	106.70	92.00	108,391	5.38

Company Selected Measure Name

FFO per diluted share

Named Executive Officers, Footnote

For all years presented, the PEO is Marshall A. Loeb, Chief Executive Officer, President and Director.For all years presented, the non-PEO Named Executive Officers include: Brent W. Wood, Executive Vice President, Chief Financial Officer and Treasurer; John F. Coleman, Executive Vice President; R. Reid Dunbar, Executive Vice President; and Ryan M. Collins, Executive Vice President.

Peer Group Issuers, Footnote

For the relevant fiscal year, represents the cumulative TSR of the Peer Group, defined as the FTSE Nareit Equity REITs Index, a published industry index.

PEO Total Compensation Amount

$ 7,123,038

$ 6,894,670

$ 5,467,097

$ 5,397,019

$ 4,666,270

PEO Actually Paid Compensation Amount

$ 3,198,715

11,324,343

(36,469)

14,229,431

5,689,719

Adjustment To PEO Compensation, Footnote

The dollar amounts reported represent the Compensation Actually Paid for our PEO and the average Compensation Actually Paid for our other Named Executive Officers, as computed in accordance with SEC rules, but do not reflect the actual amount of compensation received by our PEO or other Named

Executive Officers during the applicable year. Fair value or change in fair value, as applicable, of equity awards in the Compensation Actually Paid columns was determined by reference to (a) for restricted share awards (excluding performance-based stock awards), the closing price on applicable year-end date(s) or, in the case of vesting dates, the actual vesting price, (b) for performance-based stock awards that are not market based, the same valuation methodology as restricted share awards above except year-end values are multiplied by the probability of achievement as of each such date, and (c) for market-based performance-based stock awards, the fair value calculated by a Monte Carlo simulation model as of the applicable year-end dates. For the portion of Compensation Actually Paid that is based on year-end stock prices, the following prices were used: $160.49, $183.54, $148.06, $227.85, $138.06, and $132.67 for years ended 2024, 2023, 2022, 2021, 2020, and 2019, respectively. Compensation Actually Paid reflects the following adjustments from total compensation reported in the Summary Compensation Table:


	PEO ($)	Average Other Named Executive Officers ($)
Total Reported in 2024 Summary Compensation Table (“SCT”)	7,123,038		2,191,323
Less, Value of Stock Awards Reported in SCT	(4,220,955)		(1,074,210)
Plus, Year-End Value of Awards Granted in Fiscal Year that are Outstanding and Unvested	3,509,838		901,846
Plus (or Minus), Change in Fair Value of Prior Year Awards that are Outstanding and Unvested	(3,335,259)		(828,565)
Plus, Vesting Date Fair Value of Awards Granted this Year and that Vested this Year	123,469		39,536
Plus (or Minus), Change in Fair Value (from Prior Year-End) of Prior Year Awards that Vested this Year	(1,416)		(351)
Minus, Prior Year-End Fair Value of Prior Year Awards that Failed to Vest this Year	—		—
Total Adjustments	(3,924,323)		(961,744)
Compensation Actually Paid for Fiscal Year 2024	3,198,715		1,229,579


	PEO ($)	Average Other Named Executive Officers ($)
Total Reported in 2023 SCT	6,894,670		2,277,324
Less, Value of Stock Awards Reported in SCT	(4,216,711)		(1,163,731)
Plus, Year-End Value of Awards Granted in Fiscal Year that are Outstanding and Unvested	5,648,593		1,574,180
Plus (or Minus), Change in Fair Value of Prior Year Awards that are Outstanding and Unvested	2,724,847		673,240
Plus, Vesting Date Fair Value of Awards Granted this Year and that Vested this Year	68,067		23,942
Plus (or Minus), Change in Fair Value (from Prior Year-End) of Prior Year Awards that Vested this Year	204,877		56,803
Minus, Prior Year-End Fair Value of Prior Year Awards that Failed to Vest this Year	—		—
Total Adjustments	4,429,673		1,164,434
Compensation Actually Paid for Fiscal Year 2023	11,324,343		3,441,758


	PEO ($)	Average Other Named Executive Officers ($)
Total Reported in 2022 SCT	5,467,097		1,875,710
Less, Value of Stock Awards Reported in SCT	(2,956,285)		(826,293)
Plus, Year-End Value of Awards Granted in Fiscal Year that are Outstanding and Unvested	2,256,774		646,922
Plus (or Minus), Change in Fair Value of Prior Year Awards that are Outstanding and Unvested	(4,391,500)		(1,151,722)
Plus, Vesting Date Fair Value of Awards Granted this Year and that Vested this Year	121,406		36,794
Plus (or Minus), Change in Fair Value (from Prior Year-End) of Prior Year Awards that Vested this Year	(533,961)		(146,387)
Minus, Prior Year-End Fair Value of Prior Year Awards that Failed to Vest this Year	—		—
Total Adjustments	(5,503,566)		(1,440,686)
Compensation Actually Paid for Fiscal Year 2022	(36,469)		435,024


	PEO ($)	Average Other Named Executive Officers ($)
Total Reported in 2021 SCT	5,397,019		1,681,057
Less, Value of Stock Awards Reported in SCT	(3,028,367)		(759,494)
Plus, Year-End Value of Awards Granted in Fiscal Year that are Outstanding and Unvested	6,253,558		1,574,699
Plus (or Minus), Change in Fair Value of Prior Year Awards that are Outstanding and Unvested	5,453,289		1,490,384
Plus, Vesting Date Fair Value of Awards Granted this Year and that Vested this Year	88,020		24,863


Plus (or Minus), Change in Fair Value (from Prior Year-End) of Prior Year Awards that Vested this Year	65,912	15,330
Minus, Prior Year-End Fair Value of Prior Year Awards that Failed to Vest this Year	—	—
Total Adjustments	8,832,412	2,345,782
Compensation Actually Paid for Fiscal Year 2021	14,229,431	4,026,839


	PEO ($)	Average Other Named Executive Officers ($)
Total Reported in 2020 SCT	4,666,270		1,618,443
Less, Value of Stock Awards Reported in SCT	(2,481,393)		(686,016)
Plus, Year-End Value of Awards Granted in Fiscal Year that are Outstanding and Unvested	3,007,943		835,889
Plus (or Minus), Change in Fair Value of Prior Year Awards that are Outstanding and Unvested	334,747		87,026
Plus, Vesting Date Fair Value of Awards Granted this Year and that Vested this Year	73,081		20,607
Plus (or Minus), Change in Fair Value (from Prior Year-End) of Prior Year Awards that Vested this Year	89,071		16,171
Minus, Prior Year-End Fair Value of Prior Year Awards that Failed to Vest this Year	—		—
Total Adjustments	1,023,449		273,677
Compensation Actually Paid for Fiscal Year 2020	5,689,719		1,892,120

Non-PEO NEO Average Total Compensation Amount

$ 2,191,323

2,277,324

1,875,710

1,681,057

1,618,443

Non-PEO NEO Average Compensation Actually Paid Amount

$ 1,229,579

3,441,758

435,024

4,026,839

1,892,120

Adjustment to Non-PEO NEO Compensation Footnote


	PEO ($)	Average Other Named Executive Officers ($)
Total Reported in 2024 Summary Compensation Table (“SCT”)	7,123,038		2,191,323
Less, Value of Stock Awards Reported in SCT	(4,220,955)		(1,074,210)
Plus, Year-End Value of Awards Granted in Fiscal Year that are Outstanding and Unvested	3,509,838		901,846
Plus (or Minus), Change in Fair Value of Prior Year Awards that are Outstanding and Unvested	(3,335,259)		(828,565)
Plus, Vesting Date Fair Value of Awards Granted this Year and that Vested this Year	123,469		39,536
Plus (or Minus), Change in Fair Value (from Prior Year-End) of Prior Year Awards that Vested this Year	(1,416)		(351)
Minus, Prior Year-End Fair Value of Prior Year Awards that Failed to Vest this Year	—		—
Total Adjustments	(3,924,323)		(961,744)
Compensation Actually Paid for Fiscal Year 2024	3,198,715		1,229,579


	PEO ($)	Average Other Named Executive Officers ($)
Total Reported in 2023 SCT	6,894,670		2,277,324
Less, Value of Stock Awards Reported in SCT	(4,216,711)		(1,163,731)
Plus, Year-End Value of Awards Granted in Fiscal Year that are Outstanding and Unvested	5,648,593		1,574,180
Plus (or Minus), Change in Fair Value of Prior Year Awards that are Outstanding and Unvested	2,724,847		673,240
Plus, Vesting Date Fair Value of Awards Granted this Year and that Vested this Year	68,067		23,942
Plus (or Minus), Change in Fair Value (from Prior Year-End) of Prior Year Awards that Vested this Year	204,877		56,803
Minus, Prior Year-End Fair Value of Prior Year Awards that Failed to Vest this Year	—		—
Total Adjustments	4,429,673		1,164,434
Compensation Actually Paid for Fiscal Year 2023	11,324,343		3,441,758


	PEO ($)	Average Other Named Executive Officers ($)
Total Reported in 2022 SCT	5,467,097		1,875,710
Less, Value of Stock Awards Reported in SCT	(2,956,285)		(826,293)
Plus, Year-End Value of Awards Granted in Fiscal Year that are Outstanding and Unvested	2,256,774		646,922
Plus (or Minus), Change in Fair Value of Prior Year Awards that are Outstanding and Unvested	(4,391,500)		(1,151,722)
Plus, Vesting Date Fair Value of Awards Granted this Year and that Vested this Year	121,406		36,794
Plus (or Minus), Change in Fair Value (from Prior Year-End) of Prior Year Awards that Vested this Year	(533,961)		(146,387)
Minus, Prior Year-End Fair Value of Prior Year Awards that Failed to Vest this Year	—		—
Total Adjustments	(5,503,566)		(1,440,686)
Compensation Actually Paid for Fiscal Year 2022	(36,469)		435,024


	PEO ($)	Average Other Named Executive Officers ($)
Total Reported in 2021 SCT	5,397,019		1,681,057
Less, Value of Stock Awards Reported in SCT	(3,028,367)		(759,494)
Plus, Year-End Value of Awards Granted in Fiscal Year that are Outstanding and Unvested	6,253,558		1,574,699
Plus (or Minus), Change in Fair Value of Prior Year Awards that are Outstanding and Unvested	5,453,289		1,490,384
Plus, Vesting Date Fair Value of Awards Granted this Year and that Vested this Year	88,020		24,863


Plus (or Minus), Change in Fair Value (from Prior Year-End) of Prior Year Awards that Vested this Year	65,912	15,330
Minus, Prior Year-End Fair Value of Prior Year Awards that Failed to Vest this Year	—	—
Total Adjustments	8,832,412	2,345,782
Compensation Actually Paid for Fiscal Year 2021	14,229,431	4,026,839


	PEO ($)	Average Other Named Executive Officers ($)
Total Reported in 2020 SCT	4,666,270		1,618,443
Less, Value of Stock Awards Reported in SCT	(2,481,393)		(686,016)
Plus, Year-End Value of Awards Granted in Fiscal Year that are Outstanding and Unvested	3,007,943		835,889
Plus (or Minus), Change in Fair Value of Prior Year Awards that are Outstanding and Unvested	334,747		87,026
Plus, Vesting Date Fair Value of Awards Granted this Year and that Vested this Year	73,081		20,607
Plus (or Minus), Change in Fair Value (from Prior Year-End) of Prior Year Awards that Vested this Year	89,071		16,171
Minus, Prior Year-End Fair Value of Prior Year Awards that Failed to Vest this Year	—		—
Total Adjustments	1,023,449		273,677
Compensation Actually Paid for Fiscal Year 2020	5,689,719		1,892,120

Compensation Actually Paid vs. Total Shareholder Return

Total Shareholder Return and Peer Group Total Shareholder Return

03 PRO013471_relation-disclosure_TSR.jpg

Compensation Actually Paid vs. Net Income

Net Income

Compensation Actually Paid vs. Company Selected Measure

FFO Per Diluted Share

03 PRO013471_relation-disclosure_FFO.jpg

Total Shareholder Return Vs Peer Group

Total Shareholder Return and Peer Group Total Shareholder Return

Tabular List, Table


FFO Per Diluted Share(1)(2)
Change in Same PNOI Excluding Income from Lease Terminations (Cash Basis)(1)(3)
Debt-to-EBITDAre Ratio(1)(4)
Company TSR Compared to FTSE Nareit Equity REITs Index(5)

Total Shareholder Return Amount

$ 138.42

153.53

120.29

179.73

106.70

Peer Group Total Shareholder Return Amount

123.25

113.35

99.67

131.78

92.00

Net Income (Loss)

$ 227,807,000

$ 200,548,000

$ 186,274,000

$ 157,638,000

$ 108,391,000

Company Selected Measure Amount

8.35

7.79

7.00

6.09

5.38

PEO Name

Marshall A. Loeb, Chief Executive Officer, President and Director

Additional 402(v) Disclosure

The dollar amounts reported represent the total compensation for the PEO and the average total compensation for the other Named Executive Officers, in each cased as reported in the Summary Compensation Table for the applicable year.Value assumes $100 invested on December 31, 2019.Represents net income computed in accordance with GAAP. FFO, Same PNOI Excluding Income from Lease Terminations (Cash Basis) and EBITDAre are not computed in accordance with GAAP. A reconciliation of FFO and other required disclosure can be found on page 24 of our Annual Report on Form 10-K for the year ended December 31, 2024, which we filed with the SEC on February 12, 2025. Reconciliations of Same PNOI Excluding Income from Lease Terminations (Cash Basis) and EBITDAre and other required disclosure, including disclosure related to the Debt-to-EBITDAre ratio and Interest and Fixed Charge Coverage ratio, can be found on pages 5, 6, 8, 10, 21, 23 and 24 in the Company’s quarterly Supplemental Information for the period ended December 31, 2024, which can be found on the Investor Relations page of the Company’s website at www.eastgroup.net. Interest and Fixed Charge Coverage ratio is calculated as EBITDAre divided by the sum of interest expense plus principal amortization.FFO is a commonly used operating performance measure of REITs used to evaluate the performance of the Company's investments in real estate assets and its operating results.Same PNOI Excluding Income from Lease Terminations (Cash Basis) is a non-GAAP, property-level supplemental measure of performance used to evaluate the performance of the Company's investments in real estate assets and its operating results on a same property basis. Debt-to-EBITDAre Ratio is a non-GAAP measure used to analyze the Company's financial condition and operating performance relative to its leverage.The Company's TSR relative to that of the FTSE Nareit Equity REITs Index over a three-year period is a metric included in the Company's multi-year long-term incentive plans.

Measure:: 1

Pay vs Performance Disclosure

Name

FFO Per Diluted Share(1)(2)

Non-GAAP Measure Description

The Company selected FFO per diluted share as its Company-Selected Financial Measure. FFO is a commonly used operating performance measure of REITs used to evaluate the performance of the Company's investments in real estate assets and its operating results and is defined by Nareit. FFO is not computed in accordance with GAAP. A reconciliation of FFO and other required disclosure can be found on page 24 of our Annual Report on Form 10-K for the year ended December 31, 2024, which we filed with the SEC on February 12, 2025.

Measure:: 2

Pay vs Performance Disclosure

Name

Change in Same PNOI Excluding Income from Lease Terminations (Cash Basis)(1)(3)

Measure:: 3

Pay vs Performance Disclosure

Name

Debt-to-EBITDAre Ratio(1)(4)

Measure:: 4

Pay vs Performance Disclosure

Name

Company TSR Compared to FTSE Nareit Equity REITs Index(5)