EastGroup Properties Adds Two Directors, Growing Board To Nine
Bethany Logan Ropa and Robyn R. Werner join the industrial REIT's board, each receiving a $145,000 annual restricted-stock retainer.
EastGroup Properties appointed two new independent directors Thursday, expanding its board from seven to nine members and leaving eight of the nine seats held by independents. Bethany Logan Ropa, currently chief financial officer of JE Dunn Construction Group, and Robyn R. Werner, a recently retired Ernst & Young assurance partner, fill the two newly created seats effective October 1, 2026.
What The 8-K Says
The appointments were disclosed in an 8-K filed Thursday with the SEC under Item 5.02, which covers director elections and compensatory arrangements. The filing states that the board voted to increase its size from seven to nine and then filled both vacancies with Ropa and Werner, each effective October 1, 2026.
Ropa has been CFO of JE Dunn Construction Group — a privately held general contractor focused on large commercial projects across the United States — since 2025. Before that, she spent roughly 17 years at UBS inside its Real Estate, Lodging and Leisure investment banking group, rising to Managing Director and Head of Americas. She also served on JE Dunn's board from 2021 to 2024, including as chair of its Nominating and Governance Committee.
Werner is a Certified Public Accountant who retired in 2025 after serving as an assurance partner at Ernst & Young from 2008. During her tenure she focused on real estate, hospitality and construction, acting as lead or quality partner on audits of numerous public real estate investment trusts. She held several leadership roles at the firm, including National Real Estate, Hospitality and Construction Assurance Leader and Regional Market Co-leader for the sector.
Donald F. Colleran, chairman of the board, said the company is "excited to expand the Board's skillsets" and welcomed "the varied industry knowledge and expertise that each brings to EastGroup's Board, its executive team, and our shareholders."
The Compensation Terms
Under EastGroup's Independent Director Compensation Policy, each new director is entitled to an annual cash retainer of $80,000 and an annual restricted-stock retainer valued at $145,000. Those restricted shares vest on the earlier of the one-year anniversary of the grant date or the date of the next annual shareholder meeting, provided the director remains on the board through that date.
Because Ropa and Werner joined mid-year, they receive a pro-rated portion of both the cash and equity retainers covering service from October 1 through the next annual meeting. Each also receives an initial restricted-stock grant worth $25,000, vesting on the one-year anniversary of the grant date, again subject to continuous board service.
The filing notes that EastGroup intends to enter into indemnification agreements with both directors, covering liabilities that may arise from their service and requiring the company to advance expenses in connection with any covered proceeding. The form of that agreement was previously filed as an exhibit to the company's quarterly report filed October 28, 2020.
Committee assignments for Ropa and Werner have not yet been determined, the company said.
About EastGroup And The Stock
EastGroup is a self-administered equity real estate investment trust focused on industrial properties in high-growth U.S. markets, with particular concentration in Texas, Florida, California, Arizona and North Carolina. The company targets functional distribution space primarily in the 20,000-to-100,000-square-foot range, clustered near major transportation infrastructure in supply-constrained submarkets. Its portfolio — including development projects and value-add acquisitions in lease-up and under construction — spans approximately 67.0 million square feet. EastGroup is a member of the S&P Mid-Cap 400 and Russell 2000 indexes.
EGP shares were flat in Thursday after-hours trading at $194.84, unchanged from the regular-session close, according to market data.
Committee assignments for the two new directors are the next disclosure to watch; EastGroup said those roles have not yet been determined and are expected to be announced ahead of or at the company's next annual shareholder meeting.
