Staci Tyler
Executive Vice President, Chief Accounting Officer and Chief Administrative Officer at EASTGROUP PROPERTIES
Executive
About Staci Tyler
Staci H. Tyler is Executive Vice President, Chief Accounting Officer and Chief Administrative Officer at EastGroup Properties (principal accounting officer), age 44, a Certified Public Accountant; she joined EGP in 2007 and was promoted to EVP effective January 2025 after serving as CAO since June 2020 and Chief Administrative Officer since January 2024 . Company performance underpinning incentive payouts in 2024 included FFO attributable to common stockholders up 7.2%, Same PNOI (cash basis) up 5.6%, 96.1% year-end occupancy, $403.8M acquisitions, and $5.34/share dividends (6% YoY increase) . Executive incentives emphasize pay-for-performance tied to FFO/share, Same PNOI, leverage/coverage, and multi-year relative TSR vs Nareit benchmarks .
Past Roles
| Organization | Role | Years | Strategic impact/notes |
|---|---|---|---|
| EastGroup Properties | Executive Vice President | Jan 2025 – Present | Promoted to EVP while remaining CAO and Chief Administrative Officer . |
| EastGroup Properties | Chief Administrative Officer | Jan 2024 – Present | Expanded remit over administrative functions alongside CAO . |
| EastGroup Properties | Chief Accounting Officer | Jun 2020 – Present | Principal accounting officer; signs 10-K/10-Q filings . |
| EastGroup Properties | Senior Vice President & Secretary | 2020 – 2025 | Senior leadership and corporate secretary responsibilities . |
| EastGroup Properties | Controller | 2017 – 2020 | Led corporate accounting . |
| EastGroup Properties | Vice President | 2010 – 2020 | Progressive finance leadership . |
| EastGroup Properties | Assistant Controller | 2007 – 2010 | Joined company in 2007 . |
| KPMG | Senior Audit Associate | Prior to 2007 | Public accounting experience (CPA) . |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| BancPlus Corporation | Director; Chair, Audit Committee | 2022 – Present | Regional bank; audit committee leadership . |
Fixed Compensation
- Base salary philosophy: set competitively with annual peer benchmarking; NEO salary changes ranged from 4.0%–9.7% from 2023 to 2024 (company-level disclosure; EVP-level specifics not individually disclosed) .
- Governance practices: no employment agreements or guaranteed bonuses; no pension or non-qualified deferred compensation arrangements .
Performance Compensation
Annual Incentive Plan (AIP) – Structure and Metrics (2024)
| Element | Design | Details |
|---|---|---|
| Form | 50% cash / 50% equity | Cash and 34% of equity vest at end of 1-year performance; remaining equity vests ratably over the next two years . |
| Corporate metrics | FFO/share; Same PNOI (cash); Debt-to-EBITDAre; Fixed charge coverage | Metrics and rationale disclosed; align with REIT performance, leverage, and cash flow strength . |
| Individual component | Executive-specific objectives | Balanced qualitative/quantitative goals tied to function; 20% weighting for CEO/CFO; 30% for other NEOs . |
AIP 2024 Outcomes (Company-wide)
| Metric | Weighting (CEO/CFO) | Weighting (Other NEOs) | Outcome (% of target) |
|---|---|---|---|
| FFO per diluted share | Included | Included | 140% |
| Same PNOI (cash basis) | Included | Included | 60% |
| Debt-to-EBITDAre | Included | Included | 150% |
| Fixed charge coverage | Included | Included | 150% |
| Final company score | 80% of AIP corporate for CEO/CFO | 70% of AIP corporate for other NEOs | Weighted average 133% of target |
Note: Individual payouts and targets for Ms. Tyler were not separately disclosed in the proxy; structure and company outcomes above inform executive awards generally .
Long-Term Incentive Plan (LTIP)
| Component | Weight | Metric/Mechanics | Vesting |
|---|---|---|---|
| Performance-based RSUs | 70% | Relative TSR: 50% vs FTSE Nareit Equity REITs Index; 50% vs Nareit Industrial Index; 50% threshold / 100% target / 200% max | 75% after 3-year performance period; remaining 25% on Jan 1 following the performance period (continued service required) . |
| Service-based RSUs | 30% | Time-based retention awards | 25% per year over four years . |
- 2022–2024 LTIP cycle: relative TSR determined at target in Feb 2025; earned performance-based awards vested 75% at determination date; 25% scheduled to vest 1/1/2026 (illustrative for NEOs) .
- The company does not grant stock options; none of the NEOs hold options .
Equity Ownership & Alignment
| Item | Policy/Status |
|---|---|
| Stock ownership guidelines (executives) | CEO: 5x salary; EVP: 3x salary; SVP: 2x salary (guidelines apply after 5 years in role) . |
| Compliance | All directors and executive officers with ≥5 years in role are currently in compliance . |
| Hedging/pledging | Prohibited for directors, officers, and designated employees . |
| Beneficial ownership disclosure | Ms. Tyler’s individual share count not separately itemized; “all directors, nominees and executive officers as a group (12 persons)” owned 499,052 shares (1.0%) as of Mar 31, 2025 . |
| Option overhang | Company does not grant employee stock options; equity plan outstanding awards consist of RSUs/PSUs; 68,016 shares subject to outstanding performance awards (target) as of 12/31/24 . |
| Vesting cadence (selling pressure watchpoints) | AIP equity: 34% vests at determination (Feb), 33% vests on Jan 1 of the next two years (e.g., 2024 AIP for CEO/CFO vested 34% on determination, 33% on 1/1/2026 and 1/1/2027) . LTIP: performance-based 75% on performance determination (Q1 following cycle) and 25% next Jan 1; service-based typically vest on grant-anniversary/Jan 1 (e.g., 2024 LTIP service-based vest on 2/12/2025, 1/1/2026, 1/1/2027, 1/1/2028) . |
Employment Terms
| Topic | EVP (applies to executive officers, including CAO/CAAO) |
|---|---|
| Severance/change-in-control agreements | In place for each executive officer . |
| Protection period | 24 months post-change in control for CEO, CFO, and EVPs . |
| Cash severance multiples | Termination without cause (no CoC): 2x average annual compensation; CoC + qualifying termination (double-trigger): 3x; death: 1x . |
| Benefits continuation | Health and life insurance for 24 months post CoC + qualifying termination (EVP) . |
| Equity acceleration | Without cause termination: accelerate all service-based (and earned performance awards pending service vest) . If awards not assumed at CoC: service-based fully vest; performance-based vest at target . If awards assumed and double-trigger: service-based fully vest; performance-based vest at target . |
| Retirement policy | Upon “retirement,” time-based equity fully vests on earlier of 12 months post-notice or original vest; performance awards prorated remain eligible to vest, subject to a non-competition agreement . |
| Shareholder-friendly limits | No tax gross-ups; no “single-trigger” vesting on change-in-control . |
Performance & Track Record
- Principal accounting officer signing company filings (10-K, 10-Q), indicating responsibility for financial reporting controls and disclosures .
- 2024 operating highlights supporting pay-for-performance: 7.2% FFO growth, 5.6% Same PNOI growth, 96.1% year-end occupancy, $403.8M acquisitions, $5.34/share dividends (6% increase) .
- Incentive outcomes reflected these results: corporate AIP metrics paid at a weighted average of 133% of target company-wide for 2024 .
Governance, Policies, and Committees (select)
- 100% independent Audit, Compensation, and Nominating committees; robust clawback policy covering cash and equity .
- Ms. Tyler (as CAO/CAAO) serves on the internal Corporate Sustainability Committee alongside the CFO; board-level oversight by the Nominating and Corporate Governance Committee .
Investment Implications
- Alignment and risk controls: Hedging/pledging prohibitions, robust clawback, no options, and ownership guidelines (EVP 3x salary) drive skin-in-the-game and curb misalignment; all seasoned executives are in compliance .
- Incentive quality: AIP ties to FFO/share, Same PNOI, leverage, and coverage; LTIP is 100% equity, 70% tied to relative TSR vs Nareit indices—this strongly links realized pay to shareholder returns and REIT fundamentals .
- Retention vs. overhang: Double-trigger CoC with 3x cash for EVPs and equity acceleration provisions provide retention through uncertainty; absence of options reduces dilution risk; equity vesting cadence in February and January could create seasonal insider selling windows as tranches vest (watch Form 4s around those dates) .
- Transparency gap: Ms. Tyler was not a Named Executive Officer in 2024, so her individual base salary, bonus, and grant values were not disclosed; analysts should monitor future proxies and Form 4 filings for direct insight into her realized/realizable pay and ownership accumulation .