EASTGROUP PROPERTIES INC
For the period ended Dec 31, 2023. Filed Apr 12, 2024.
View on SEC.govAbout this filing
What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.
Dec 31, 2023 · Filed Apr 12, 2024
Contents
Nominating Procedures
In identifying suitable candidates for nomination as a director – whether new candidates or incumbent directors – the Nominating and Corporate Governance Committee considers the needs of the Board and the range of skills and characteristics required for effective functioning of the Board. The Committee regularly discusses director succession and refreshment of the Board to further cultivate diversity of skill sets, experiences, backgrounds and demographics.
| GENERAL CONSIDERATIONIn evaluating the suitability of individual board members, the Nominating and Corporate Governance Committee takes into account many factors, including experience in the real estate industry; understanding of finance and accounting; exposure to disciplines relevant to the success of a public company, such as capital markets, finance, investor relations, and corporate governance; experience in real estate development and construction; and diversity (including diversity of gender, race, ethnicity, age, sexual orientation, skill sets, background and experience), and other considerations memorialized in our Corporate Governance Guidelines. | RELEVANT SKILLS AND EXPERIENCECurrent members of the Board with skills and experience that are relevant to the Company’s business and who are willing to continue in service are considered for re-nomination. | SUGGESTIONSIn addition, the Nominating and Corporate Governance Committee will consider nominees suggested by incumbent Board members, management, shareholders and, in certain circumstances, outside search firms; as such, shareholders may influence the composition of the Board. |
|---|
| 2024 Proxy Statement | 23 |
|---|
OUR COMMITMENT TO BOARD DIVERSITYOur Board believes that it is in the Company’s and shareholders’ best interest that the Board be comprised of directors with diversity of thought, opinion, skill sets, background, gender and ethnicity. In April 2023, the Board amended our Corporate Governance Guidelines to reflect that, in evaluating candidates, the Board will consider diversity (including diversity of gender, race, ethnicity, age, sexual orientation and gender identity) as it deems appropriate given the current needs of the Board and the Company. Additionally, in identifying potential independent director candidates, the Nominating and Corporate Governance Committee will include in its initial list for consideration for any vacancy on the Board one or more qualified candidates who reflect diverse backgrounds, including diversity of gender and race or ethnicity. Two of our directors are women, and one of our directors identifies as a racial minority. In 2021, the Nominating and Corporate Governance Committee engaged Korn Ferry, a third-party search firm, to assist the committee in the identification and recruitment of an experienced, ethnically diverse candidate for our Board. Korn Ferry recommended Mr. Fields, along with various potential other candidates, and in February 2022, Mr. Fields was appointed to our Board.
Consideration of New Nominees
| COLLECT CANDIDATE POOLuThe Nominating and Corporate Governance Committee considers candidates brought forth by incumbent Board members, management and shareholders.uThe Nominating and Corporate Governance Committee has also previously engaged, and may in the future engage, an outside search firm to assist in identifying qualified candidates. | REVIEW CANDIDATESuThe Nominating and Corporate Governance Committee reviews the candidate pool to identify candidates it believes are best suited to serve as a director.uThe Nominating and Corporate Governance Committee and other directors and members of management interview candidates. | RECOMMEND TO BOARDuAfter interviewing and discussing candidates, the Nominating and Corporate Governance Committee recommends a candidate’s nomination to the full Board.uThe Board evaluates and approves the new director. |
|---|
Shareholder Recommendations
In accordance with the nominating procedures outlined above, the Nominating and Corporate Governance Committee will consider written recommendations for potential nominees suggested by shareholders. Any such person will be evaluated in the same manner as any other potential nominee for director. Any suggestion for a nominee for director by a shareholder should be sent to the Company’s Secretary at 400 W. Parkway Place, Suite 100, Ridgeland, Mississippi 39157, within the time periods set forth under the heading “About the 2024 Annual Meeting – How do I submit a proposal for the 2025 Annual Meeting?”.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.