Donald Klimoski II
About Donald Klimoski II
Donald Klimoski II, Esq., 44, serves as Senior Vice President – Operations, General Counsel, Secretary, and Chief Compliance Officer at Global Self Storage (SELF). He joined the company in 2017 and was elevated to SVP – Operations in 2022, overseeing operations, investor relations, and legal/compliance; he is admitted to the U.S. Patent & Trademark Office and the New York and New Jersey State Bars . Prior roles include Associate General Counsel at Commvault Systems (2014–2017), associate at Sullivan & Cromwell (2008–2014), and a federal clerkship to Judge Freda L. Wolfson (D.N.J.) . Pay-versus-performance disclosure shows TSR values (initial $100 investment) of $149 (2021), $90 (2022), $101 (2023), and $122 (2024), alongside net income of $3,281,251 (2021), $2,057,723 (2022), $2,938,769 (2023), and $2,123,743 (2024) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Global Self Storage | General Counsel, Secretary, Chief Compliance Officer; SVP – Operations since 2022 | 2017–present | Leads operations, IR, legal/compliance; supports acquisition, development, and management of self-storage facilities |
| Commvault Systems, Inc. | Associate General Counsel | 2014–2017 | In-house counsel for enterprise software; corporate legal and compliance support |
| Sullivan & Cromwell LLP | Associate | 2008–2014 | Complex corporate and securities practice experience |
| U.S. District Court, D.N.J. | Law Clerk to Hon. Freda L. Wolfson | Not disclosed | Federal clerkship; foundational litigation and judicial process experience |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Tuxis Corporation | General Counsel, Secretary, Chief Compliance Officer | Not disclosed | Affiliate role |
| Winco | Co-General Counsel, Secretary, Chief Compliance Officer | Not disclosed | Affiliate role |
| Funds, Advisers, Bexil | Assistant Secretary, Assistant General Counsel, Assistant Chief Compliance Officer | Not disclosed | Affiliate roles |
Fixed Compensation
Summary Compensation – Donald Klimoski II (Amounts USD)
| Metric | 2018 | 2019 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|
| Salary ($) | 170,610 | 172,788 | 164,578 | 168,733 | 197,046 | 192,317 |
| Bonus ($) | 6,888 | 6,841 | 6,226 | 6,710 | 7,928 | 7,518 |
| Stock Awards ($) | 61,438 | 13,799 | 62,689 | 24,380 | 35,969 | 118,696 |
| All Other Compensation ($) | 14,801 | 16,280 | 14,936 | 16,037 | 22,179 | 29,868 |
| Total ($) | 253,737 | 209,708 | 248,429 | 215,860 | 263,122 | 348,399 |
All Other Compensation Breakdown (Klimoski)
| Component | 2018 | 2019 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| 401(k) Match ($) | 9,789 | 10,105 | 9,836 | 12,013 | 11,429 |
| Benefits ($) | 5,012 | 6,175 | 6,201 | 10,166 | 18,439 |
| Auto Lease & Insurance ($) | — | — | — | — | — |
| Total ($) | 14,801 | 16,280 | 16,037 | 22,179 | 29,868 |
Notes:
- Non-CEO employee compensation (including Klimoski) is set via a methodology led by Mark and Thomas Winmill and allocated based on time reports; bonuses include a subjective component tied to company performance and contribution .
Performance Compensation
Structure and Outcomes (AFFO and SSRG metrics; 50% weighting each; vesting 6.25% quarterly)
| Item | 2020 | 2022 | 2024 |
|---|---|---|---|
| Metric Weighting | AFFO 50%; SSRG 50% | AFFO 50%; SSRG 50% | AFFO 50%; SSRG 50% |
| AFFO Target | $2,425,877 | $2,801,359 | $3,555,900 |
| AFFO Actual | $2,245,996 | $4,695,031 | $4,259,327 |
| SSRG Target | 2.12% | 14.80% | -0.60% |
| SSRG Actual | 0.67% | 13.70% | 2.90% |
| Weighted Payout % | 12.92% | 126.09% | 200.00% |
| Shares Earned (Klimoski) | 452 | 4,413 | 11,054 |
| Vesting Schedule | 6.25% per quarter (time and earned performance shares) | 6.25% per quarter | 6.25% per quarter; 25% vested by Mar 31, 2025 |
Equity Award Grants (select years)
- 2018: 13,900 shares to Klimoski (time & performance mix; front-loaded time-based at 6.25% quarterly) .
- 2021: 13,900 shares (front-loaded time-based over three years; plus performance-based) .
- 2023: 5,527 shares (performance-based; earned at ~127.36%; 7,039 shares vest based on continued employment for Klimoski) .
- 2024: 5,527 performance-based shares granted, earned at 200% (11,054) .
- 2025: 5,527 performance-based shares granted; annual cadence expected; acquisition performance kicker (+25% earned shares if threshold met) .
- Company does not grant stock options; none granted in 2024 .
Equity Ownership & Alignment
Beneficial Ownership (common shares; per proxy tables)
| Metric | 2018 | 2021 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Shares Beneficially Owned | 13,900 | 39,352 | 49,440 | 74,461 | 86,054 |
| Shares Outstanding | 7,692,624 | 9,419,393 | 11,143,908 | 11,260,557 | 11,338,391 |
| Ownership % (per proxy classification) | <1% | <1% | <1% | <1% | <1% |
Outstanding Equity Awards at FYE 2024 (Unvested)
| Type | Shares Unvested (#) | Market Value ($) |
|---|---|---|
| Time Vesting | 13,993 | 74,583 (at $5.33/share) |
| Performance Vesting | 14,539 | 77,493 (at $5.33/share) |
Alignment Policies and Practices
- Restricted stock cannot be transferred or pledged during the restriction period; holders retain voting and dividend rights subject to earning provisions .
- The company has not adopted anti-hedging/anti-pledging practices for employees or directors; material transactions require Audit Committee approval for conflicts .
- No stock options outstanding; equity compensation is solely restricted stock (time and performance-based) .
Employment Terms
- Start date and tenure: Joined SELF in 2017; SVP – Operations since 2022 .
- Compensation-setting: For non-CEO employees (including Klimoski), total compensation levels are set by Mark and Thomas Winmill and allocated based on time reports; bonuses include subjective components tied to company performance and individual contribution .
- Change-in-control (CIC) treatment under the Plan:
- If CIC occurs before performance period completes, earned shares equal the greater of granted or pro-rata based on performance through CIC; if awards are not assumed/substituted, they vest at CIC with consideration equal to common shareholders .
- Post-CIC termination without Cause or by the grantee with Good Reason results in full vesting of all unvested restricted shares (double-trigger acceleration) .
- Deferred compensation: A portion of compensation may be deferred at the executive’s election .
- Severance multiples, non-compete, non-solicit, garden leave, and clawback terms: Not disclosed in proxy/10-K materials reviewed.
Performance Context
Financial performance (annual)
| Metric | FY 2021 | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|---|
| Revenues ($) | 10,127,296* | 11,569,279* | 11,798,138 | 12,095,113 |
| EBITDA ($) | 4,362,100* | 5,194,769* | 4,765,377* | 4,531,512* |
| Net Income ($) | 3,281,251 | 2,057,723 | 2,938,769 | 2,123,743 |
Values marked with * retrieved from S&P Global.
Pay-versus-Performance (TSR and Net Income)
| Metric | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| TSR – $100 Initial Value | $149 | $90 | $101 | $122 |
| Net Income ($) | 3,281,251 | 2,057,723 | 2,938,769 | 2,123,743 |
Investment Implications
- Pay-for-performance mechanics: Klimoski’s equity awards are tightly linked to AFFO and SSRG with 50/50 weighting; vesting at 200% of target in 2024 underscores strong incentive payouts aligned with company operational metrics .
- Vesting cadence and potential supply: Earned performance shares and time-based grants vest 6.25% quarterly, creating a steady stream of potential insider share supply; nearest-term earned shares from 2024 performance are scheduled to vest over the remaining four-year period .
- Ownership alignment: Beneficial ownership remains below 1% of outstanding shares, though unvested restricted shares represent a meaningful stake at the executive level; no options (reduces leverage but also limits upside asymmetry) .
- Hedging/pledging risk: Absence of anti-hedging/anti-pledging practices is a governance red flag for alignment; restricted stock cannot be pledged while unvested, but broader hedging is not prohibited .
- CIC economics: Equity awards feature protective provisions (greater-of grant vs performance earned at CIC; full vesting on qualifying post-CIC termination), which can increase realized compensation under strategic transactions and support retention through change events .
- Cash/equity mix evolution: Rising stock award values in 2024 (up to $118,696) indicate increased equity-based compensation relative to prior years, reinforcing long-term alignment but also increasing sensitivity to AFFO/SSRG target calibration and payout rigor .