Donald Colleran
About Donald F. Colleran
Independent Chairman of the Board of EastGroup Properties since 2023; director since 2017. Age 69. Former President and CEO of FedEx Express (2019–2023) and long-tenured FedEx executive with global sales and logistics leadership; holds a BBA from the University of New Hampshire . The Board determined Colleran is independent under NYSE standards; EGP maintains an independent Chair structure with executive sessions led by the independent Chairman .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| FedEx Express | President & Chief Executive Officer | 2019–2023 | Member, FedEx Corporation Strategic Management Committee (sets corporate strategic direction) |
| FedEx | EVP, Chief Sales Officer | 2016–2019 | Led global sales; executive leadership roles across FedEx since 1989 |
| FedEx Services | EVP, Global Sales | 2006–2016 | Oversaw global sales operations |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| ABM Industries (NYSE: ABM) | Director | Since 2018 | Current public-company directorship |
| Jefferies Financial Group Inc. | Senior Advisor | Since 2024 | Advisory role at diversified financial services firm |
Board Governance
- Current roles: Independent Chairman of the Board; member, Compensation Committee and Nominating & Corporate Governance Committee .
- Independence: Six of seven directors are independent; Audit, Compensation, and Nominating & Corporate Governance Committees are 100% independent .
- Committee activity (2024): Compensation Committee met 6 times; Nominating & Corporate Governance Committee met 3 times .
- Attendance: Board held 7 meetings; there were 27 Board/committee meetings; average director attendance 98%; each director attended ≥75% of meetings; 100% attendance at 2024 Annual Meeting .
- Overboarding safeguards: Non-executive directors may serve on ≤3 other public boards absent Board approval; Audit Committee members capped at ≤2 other audit committees unless the Board determines no impairment; all nominees are in compliance .
- Independent oversight: Executive sessions led by independent Chairman; committees and Board retain authority to hire independent advisors .
Fixed Compensation
| Item | Amount | Notes |
|---|---|---|
| Annual cash retainer (non-employee director) | $75,000 | Increased in May 2024 following peer review |
| Annual cash retainer (Chairman of the Board) | $85,000 | Increased in May 2024 |
| Committee chair/member retainers | Not disclosed (increases approved) | Specific dollar amounts not disclosed; policy updated May 2024 |
| Donald F. Colleran – Fees Earned/Paid in Cash (FY2024) | $166,875 | Aggregate cash fees |
Performance Compensation
| Equity Component | Grant Value Basis | Vesting | Notes |
|---|---|---|---|
| Annual restricted share award (non-employee director) | $135,000 divided by FMV per share on grant date | Vests in full on earlier of 1-year anniversary or next annual meeting, subject to continued service | Granted in connection with election/re-election at annual meeting |
| New director onboarding restricted shares | $25,000 divided by FMV per share on appointment date | Vests over four years, subject to continued service | Automatic award on effective date of election/appointment |
| Donald F. Colleran – Stock Awards (FY2024) | $135,131 | Aggregate grant-date fair value (ASC 718) |
EGP states it does not grant stock options to employees or executives; director equity is delivered via restricted shares under the Independent Director Compensation Policy .
Other Directorships & Interlocks
| Company | Relationship to EGP | Potential Interlock/Conflict Commentary |
|---|---|---|
| ABM Industries (NYSE: ABM) | Public-company board where Colleran serves | No related-person transactions disclosed in retrieved proxy content; EGP’s Related Person Transaction Policy requires Audit Committee review/approval and director recusal for any such transactions . |
| Jefferies Financial Group Inc. | Senior Advisor | External advisory role; overboarding policy permits up to three other public boards for non-executives; Colleran is in compliance . |
Expertise & Qualifications
- E-commerce and logistics; public company board experience; regulatory, legal or risk management; senior leadership and strategic initiatives .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Common Stock | Shares Outstanding Reference |
|---|---|---|---|
| Donald F. Colleran | 6,442 | <1.0% | 52,265,432 shares outstanding as of March 31, 2025 |
- Director stock ownership guideline: at least five times the annual cash retainer; for directors with ≥5 years’ service, the Nominating & Corporate Governance Committee reviews compliance annually, and all such directors/executives are currently in compliance .
- Hedging/pledging prohibited: Directors/officers cannot hedge or pledge company securities; insider trading policy on file .
Governance Assessment
- Board effectiveness: Independent chair structure with strong committee independence and ability to retain advisors supports robust oversight; executive sessions led by the independent Chairman enhance independent scrutiny .
- Engagement and attendance: High engagement metrics (98% average attendance; full annual meeting attendance) indicate active oversight; Colleran’s roles on Compensation and Nominating & Governance place him at the core of pay and board refreshment decisions .
- Alignment: Director pay mix balanced between cash retainers and time-vested equity; ownership guideline at 5× cash retainer and prohibition on hedging/pledging reinforce alignment; beneficial ownership disclosed for transparency .
- Pay governance signals: Peer-based director pay adjustments in 2024 and sustained high say‑on‑pay support (97.3% in 2024) indicate responsiveness to market norms and shareholder preferences .
- Conflicts and red flags: No related‑person transactions involving directors are presented in the retrieved sections; formal policy mandates Audit Committee oversight and director recusal, mitigating conflict risk. Overboarding limits and audit committee service caps reduce time‑commitment risk; all nominees comply .