Pike Aloian
About D. Pike Aloian
Independent director of EastGroup Properties, Inc. since 1999; age 70; Managing Director at Neuberger Berman and senior leader at Almanac Realty Investors focusing on origination, structuring, and management of capital investments to public and private real estate companies; Audit Committee financial expert; education includes Harvard College (BA) and Columbia Business School (MBA; adjunct professor) . The Board has determined Aloian is independent under NYSE standards; six of seven directors are independent; the Board separates Chair and CEO roles .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Neuberger Berman | Managing Director | Since 2020 | Senior role managing Almanac capital investments; member of Almanac Investment Committee |
| Almanac Realty Investors and predecessor entities | Partner | Through Jan 31, 2020 | Senior investment leadership; transition to Neuberger Berman upon acquisition |
| Columbia University Graduate School of Business | Adjunct Professor | Not specified | Academic engagement |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Almanac Investment Committee | Member | Current | Provides investment oversight and decisioning within Neuberger Berman’s Almanac platform |
| Public company directorships | None disclosed (past five years) | — | No specific public boards listed for Aloian in nominee biography |
Board Governance
- Current committee assignments: Audit Committee member; Investment Committee member; designated Audit Committee financial expert alongside McCormick and Sandstrom .
- Committee activity in 2024: Audit Committee met 7 times; Investment Committee met 4 times .
- Effective upon 2025 re‑election: added to Compensation Committee (Bolton, Colleran, Fields, Aloian) and Investment Committee expanded to include McCormick .
- Independence, structure, and oversight: six of seven directors independent; independent Chair separate from CEO; 100% independent Audit, Compensation, and Nominating & Corporate Governance Committees; Board oversight of strategy, risk, and corporate responsibility .
- Attendance: Board held 7 meetings; average attendance 98% at Board and committee meetings; each director attended at least 75% of meetings; 100% director attendance at 2024 Annual Meeting .
Fixed Compensation
| Component | Policy/Amount | Vesting/Notes |
|---|---|---|
| Annual cash retainer (non‑employee directors) | $75,000 (increased from $60,000 in May 2024) | Paid for Board service; no per‑meeting fees |
| Chairman cash retainer | $85,000 (increased from $75,000 in May 2024) | — |
| Committee chair/member retainers | Increased in May 2024 (exact rates not detailed in excerpt) | — |
| 2024 cash actually paid to Aloian | $86,208 | Reflects role/service and committee retainers |
Performance Compensation
| Equity Award Type | Grant Basis | Grant Size/Value | Vesting |
|---|---|---|---|
| Annual director restricted share grant | Annual election/re‑election | $135,000 / fair market value, rounded up to whole shares | Vests in full on earlier of one‑year anniversary or next annual meeting, subject to continued service |
| New director initial grant (not applicable to Aloian) | Upon appointment | $25,000 / fair market value, rounded up to whole shares | Vests over four years |
| 2024 stock awards for Aloian | Aggregate grant‑date fair value $135,131 | Per Independent Director Compensation Policy terms |
Non‑employee directors do not receive performance‑based equity; awards are service‑based restricted shares designed to align with shareholders via ownership and vesting structure .
Other Directorships & Interlocks
| Company | Role | Committee Roles | Potential Interlock/Conflict Note |
|---|---|---|---|
| Neuberger Berman / Almanac Realty Investors | Managing Director; Almanac Investment Committee member | Investment oversight | Almanac invests in public/private real estate companies; Audit Committee monitors potential related‑party arrangements; Related Person Transaction Policy requires review/approval for transactions ≥$120k; no related‑party transactions disclosed involving Aloian . |
Expertise & Qualifications
- Accounting and Finance; Capital Markets; Public Company Board Experience; Real Estate Operations and Investment; Senior Leadership and Strategic Initiatives .
- Designated Audit Committee financial expert per SEC rules; Board determined accounting and related financial management expertise under NYSE standards .
- Education: Harvard College (BA); Columbia University Graduate School of Business (MBA; adjunct professor) .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Shares Outstanding | Notes |
|---|---|---|---|
| D. Pike Aloian | 34,695 [includes 7,522 owned by spouse; disclaimed] | <1% | Ownership guidelines: directors required to own ≥5x annual cash retainer; all directors with ≥5 years in role are in compliance . |
| Hedging/Pledging | Prohibited for directors and officers | — | Insider Trading Policy governs transactions; Code of Ethics in place . |
Insider Trades
| Date | Type | Shares | Price | Notes |
|---|---|---|---|---|
| Not disclosed in proxy | — | — | — | The DEF 14A provides beneficial ownership but does not list Form 4 transactions; refer to SEC Form 4 filings for transaction‑level detail . |
Governance Assessment
- Strengths: Long‑tenured independent director with deep real estate capital markets expertise; Audit Committee financial expert; high Board/committee attendance; robust governance practices including independent Chair, 100% independent key committees, clawback policy, and no hedging/pledging .
- Alignment: Director pay balanced between cash and service‑based equity; strict stock ownership guidelines (≥5x cash retainer) with compliance; no meeting fees; emphasis on shareholder‑aligned practices .
- Investor confidence signals: Prior say‑on‑pay support ~97.3% at 2024 meeting; compensation program continuity and use of independent consultant (Ferguson Partners) .
- Potential watch items: Dual role at Neuberger Berman/Almanac (invests across real estate companies) could pose appearance of conflict in certain transactions; mitigated by Related Person Transaction Policy and Audit Committee oversight; no related‑party transactions disclosed involving Aloian in the proxy . Chair and committee retainer increases in 2024 should be monitored for pay escalation versus peer alignment (Board cites peer benchmarking) .
Board Governance (Committee Details)
| Committee | 2024 Members | Meetings (2024) | Key Responsibilities |
|---|---|---|---|
| Audit | McCormick (Chair), Aloian, Sandstrom | 7 | Financial reporting oversight; internal/external audit; cybersecurity risk; financial risks; designated financial experts (McCormick, Sandstrom, Aloian) . |
| Compensation | Bolton (Chair), Colleran, Fields [effective update adds Aloian] | 6 | Executive and director compensation; pay‑for‑performance; independent consultant engagement . |
| Nominating & Corporate Governance | Sandstrom (Chair), Colleran, Fields, McCormick | 3 | Board refreshment, evaluations, corporate responsibility oversight . |
| Investment | Loeb (Chair), Aloian, Bolton [effective update adds McCormick] | 4 | Reviews/approves investments/dispositions in defined value ranges and markets . |
RED FLAGS
- None disclosed in proxy for Aloian: no related‑party transactions, no hedging/pledging, attendance above thresholds, independence affirmed .
- Monitor: Potential perceived conflicts via Almanac/Neuberger Berman activities; continued tenure length versus Board refresh objectives .