PAY VERSUS PERFORMANCE TABLES
The following table sets forth information concerning the compensation paid to our CEO and to our other NEOs compared to Company performance for the years ended December 31, 2025, 2024, 2023, 2022, and 2021.
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Summary Compensation Table Total Pay |
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Average Summary Compensation Table Total Pay for |
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Average CAP to |
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Value of Initial Fixed $100 Investment Based on: |
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GAAP Net |
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Core FFO |
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Year |
for CEO(1)(2) |
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CAP to CEO(3) |
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Other NEOs(1)(2) |
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Other NEOs(3) |
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TSR |
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Peer TSR(4) |
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Income(5) |
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per share(6) |
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2025 |
$ |
9,909,777 |
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$ |
2,398,542 |
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$ |
4,493,229 |
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$ |
531,437 |
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$ |
139 |
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$ |
127 |
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$ |
1,797,032 |
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$ |
16.97 |
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2024 |
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9,502,226 |
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5,044,001 |
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5,232,404 |
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2,943,853 |
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154 |
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124 |
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2,084,410 |
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16.67 |
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2023 |
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8,776,291 |
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11,147,987 |
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3,753,576 |
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4,390,198 |
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151 |
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118 |
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2,160,120 |
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16.89 |
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2022 |
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9,201,442 |
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(1,902,305 |
) |
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4,844,366 |
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(2,183,334 |
) |
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133 |
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106 |
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4,366,274 |
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15.92 |
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2021 |
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10,358,153 |
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41,035,570 |
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5,944,502 |
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25,331,675 |
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167 |
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141 |
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1,959,639 |
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12.93 |
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SCT Total Pay |
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Minus |
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Plus |
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Plus |
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Plus |
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Plus |
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Minus |
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Plus |
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Equals |
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CEO |
$ |
9,909,777 |
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$ |
6,889,954 |
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$ |
4,398,949 |
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$ |
(5,230,106 |
) |
$ |
— |
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$ |
(516,305 |
) |
$ |
— |
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$ |
726,181 |
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$ |
2,398,542 |
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Other NEOs |
$ |
4,493,229 |
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$ |
2,942,799 |
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$ |
1,878,849 |
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$ |
(2,939,138 |
) |
$ |
— |
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$ |
(282,105 |
) |
$ |
— |
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$ |
323,401 |
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$ |
531,437 |
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Relationship of CAP to Performance. The following graphs illustrate the relationship during 2021 to 2025 of the CAP for our CEO and the average CAP for our other NEOs (each as set forth in the table above), to (i) our cumulative TSR and the cumulative TSR of the constituent companies in the NAREIT Equity Index, (ii) our GAAP net income, and (iii) our Core FFO per share (in each case as set forth in the table above).
Financial Performance Measures. The most important financial performance measures used by the Company in setting pay-for-performance compensation for the most recently completed year are described in the table below. The manner in which these measures, together with certain non-financial performance measures, determine the amounts of incentive compensation paid to our NEOs is described above in the “Compensation Discussion and Analysis” section of this proxy statement.
Significant Financial Performance Measures |
Core FFO Per Share Growth |
TSR Performance (versus the TSR of the S&P 500 Equity REITs) |
TSR Performance (versus the Company’s Self-Storage REIT Competitors) |
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SCT Total Pay |
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Minus |
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Plus |
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Plus |
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Plus |
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Plus |
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Minus |
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Plus |
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Equals |
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CEO |
$ |
9,909,777 |
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$ |
6,889,954 |
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$ |
4,398,949 |
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$ |
(5,230,106 |
) |
$ |
— |
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$ |
(516,305 |
) |
$ |
— |
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$ |
726,181 |
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$ |
2,398,542 |
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Other NEOs |
$ |
4,493,229 |
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$ |
2,942,799 |
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$ |
1,878,849 |
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$ |
(2,939,138 |
) |
$ |
— |
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$ |
(282,105 |
) |
$ |
— |
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$ |
323,401 |
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$ |
531,437 |
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SCT Total Pay |
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Minus |
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Plus |
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Plus |
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Plus |
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Plus |
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Minus |
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Plus |
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Equals |
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CEO |
$ |
9,909,777 |
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$ |
6,889,954 |
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$ |
4,398,949 |
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$ |
(5,230,106 |
) |
$ |
— |
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$ |
(516,305 |
) |
$ |
— |
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$ |
726,181 |
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$ |
2,398,542 |
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Other NEOs |
$ |
4,493,229 |
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$ |
2,942,799 |
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$ |
1,878,849 |
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$ |
(2,939,138 |
) |
$ |
— |
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$ |
(282,105 |
) |
$ |
— |
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$ |
323,401 |
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$ |
531,437 |
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Financial Performance Measures. The most important financial performance measures used by the Company in setting pay-for-performance compensation for the most recently completed year are described in the table below. The manner in which these measures, together with certain non-financial performance measures, determine the amounts of incentive compensation paid to our NEOs is described above in the “Compensation Discussion and Analysis” section of this proxy statement.
Significant Financial Performance Measures |
Core FFO Per Share Growth |
TSR Performance (versus the TSR of the S&P 500 Equity REITs) |
TSR Performance (versus the Company’s Self-Storage REIT Competitors) |