Extra Space Storage Management

Management criteria checks 2/4

Extrace Storage's CEO is Joe Margolis, appointed in Jan 2017, has a tenure of 6.42 years. total yearly compensation is $11.63M, comprised of 7.7% salary and 92.3% bonuses, including company stock and options. directly owns 0.14% of the company’s shares, worth MX$524.11M. The average tenure of the management team and the board of directors is 4.7 years and 6.1 years respectively.

Key information

Joe Margolis

Chief executive officer

US$11.6m

Total compensation

CEO salary percentage	7.7%
CEO tenure	6.4yrs
CEO ownership	0.1%
Management average tenure	4.7yrs
Board average tenure	6.1yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Joe Margolis's remuneration changed compared to Extra Space Storage's earnings?
Date	Total Compensation	Salary	Company Earnings
Mar 31 2023	n/a	n/a	US$852m
Dec 31 2022	US$12m	US$900k	US$859m
Sep 30 2022	n/a	n/a	US$924m
Jun 30 2022	n/a	n/a	US$891m
Mar 31 2022	n/a	n/a	US$827m
Dec 31 2021	US$7m	US$850k	US$826m
Sep 30 2021	n/a	n/a	US$714m
Jun 30 2021	n/a	n/a	US$641m
Mar 31 2021	n/a	n/a	US$576m
Dec 31 2020	US$7m	US$850k	US$481m
Sep 30 2020	n/a	n/a	US$437m
Jun 30 2020	n/a	n/a	US$431m
Mar 31 2020	n/a	n/a	US$433m
Dec 31 2019	US$6m	US$850k	US$419m
Sep 30 2019	n/a	n/a	US$408m
Jun 30 2019	n/a	n/a	US$431m
Mar 31 2019	n/a	n/a	US$421m
Dec 31 2018	US$4m	US$750k	US$415m
Sep 30 2018	n/a	n/a	US$529m
Jun 30 2018	n/a	n/a	US$492m
Mar 31 2018	n/a	n/a	US$484m
Dec 31 2017	US$4m	US$750k	US$478m
Sep 30 2017	n/a	n/a	US$345m
Jun 30 2017	n/a	n/a	US$369m
Mar 31 2017	n/a	n/a	US$365m
Dec 31 2016	US$2m	US$500k	US$365m

Compensation vs Market: Joe's total compensation ($USD11.63M) is above average for companies of similar size in the MX market ($USD5.70M).

Compensation vs Earnings: Joe's compensation has increased by more than 20% in the past year.

CEO

Joe Margolis (62 yo)

6.4yrs

Tenure

US$11,628,744

Compensation

Mr. Joseph Daniel Margolis, also known as Joe, J.D., serves as Independent Director of Invitation Homes Inc. since May 20, 2020. He has been the Chief Executive Officer of Extra Space Storage Inc. since Ja...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Joseph Margolis	CEO & Director	6.4yrs	US$11.63m	0.14% $ 524.1m
P. Stubbs	Executive VP & CFO	11.5yrs	US$3.61m	0.11% $ 415.7m
Gwyn McNeal	Executive VP & Chief Legal Officer	9.9yrs	US$2.60m	0.024% $ 86.5m
Samrat Sondhi	Executive VP & Chief Marketing Officer	3yrs	US$2.89m	0.063% $ 230.5m
Noah Springer	Executive VP and Chief Strategy & Partnership Officer	2.5yrs	US$2.68m	0.0075% $ 27.3m
Matthew Herrington	Executive VP & COO	3yrs	US$1.05m	0.0046% $ 16.8m
Zachary Dickens	Executive VP & Chief Investment Officer	2.5yrs	no data	0.011% $ 40.2m
Grace Kunde	Senior VP of Accounting & Finance and Corporate Controller	11.5yrs	no data	0.0093% $ 34.0m
Timothy Arthurs	Senior Vice President of Operations	no data	US$203.12k	no data
Jeffrey Norman	Senior Vice President of Capital Markets	no data	no data	no data

4.7yrs

Average Tenure

48yo

Average Age

Experienced Management: EXR *'s management team is considered experienced (4.7 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Joseph Margolis	CEO & Director	6.1yrs	US$11.63m	0.14% $ 524.1m
Gary Crittenden	Independent Director	3.3yrs	US$268.75k	0.0032% $ 11.7m
Dennis Letham	Independent Director	7.1yrs	US$277.50k	0.0074% $ 27.1m
Kenneth Woolley	Independent Chairman of the Board	18.8yrs	US$490.00k	0.30% $ 1.1b
Roger Porter	Lead Independent Director	18.8yrs	US$292.50k	0.17% $ 626.1m
Spencer Kirk	Independent Director	18.8yrs	US$240.00k	0.70% $ 2.6b
Diane Olmstead	Independent Director	9.5yrs	US$260.00k	0.0056% $ 20.4m
Jefferson Shreve	Independent Director	less than a year	US$129.98k	0.0012% $ 4.5m
Julia Ploeg	Independent Director	2.6yrs	US$260.00k	0.0025% $ 9.2m
Joseph Bonner	Independent Director	4.1yrs	US$260.00k	0.0040% $ 14.7m
Jennifer Blouin	Independent Director	less than a year	no data	0.00081% $ 3.0m

6.1yrs

Average Tenure

67yo

Average Age

Experienced Board: EXR *'s board of directors are considered experienced (6.1 years average tenure).

Extra Space Storage Management

Management criteria checks 2/4

Key information

Recent management updates

Extra Space Storage Inc., Annual General Meeting, May 23, 2024

Extra Space Storage Inc. Announces Board Appointments

Executive VP & Chief Legal Officer recently sold Mex$4.5m worth of stock

Recent updates

Extra Space Storage Inc. has filed a Follow-on Equity Offering in the amount of $800 million.

Extra Space Storage Inc., Annual General Meeting, May 23, 2024

Extra Space Storage Inc. to Report Q1, 2024 Results on Apr 30, 2024

Extra Space Storage Inc. Announces First Quarter 2024 Dividend, Payable on March 29, 2024

Extra Space Storage Inc. to Report Q4, 2023 Results on Feb 27, 2024

Extra Space Storage Inc. Declares Fourth Quarter 2023 Dividend, Payable on December 29, 2023

Extra Space Storage Inc. to Report Q3, 2023 Results on Nov 07, 2023

Extra Space Storage Inc. Announces Second Dividend of the Third Quarter 2023, Payable on September 29, 2023

Extra Space Storage Inc. Announces Board Appointments

Extra Space Storage Inc. to Report Q2, 2023 Results on Aug 03, 2023

Extra Space Storage Inc. Announces Dividend on Common Stock, Payable on July 19, 2023

Extra Space Storage Inc. Declares Dividend for the Second Quarter 2023, Payable on June 30, 2023

Extra Space Storage Inc. Provides Earnings Guidance for the Year Ending December 31, 2023

Investor sentiment deteriorates as stock falls 16%

Upcoming dividend of US$1.62 per share at 3.9% yield

Executive VP & Chief Legal Officer recently sold Mex$4.5m worth of stock

Full year 2022 earnings released: FFO per share: US$8.9 (vs US$7.30 in FY 2021)

Extra Space Storage Inc. Announces 1st Quarter 2023 Dividend, Payable on March 31, 2023

Extra Space Storage Inc. to Report Q4, 2022 Results on Feb 22, 2023

Upcoming dividend of US$1.50 per share

Extra Space Storage Inc. Announces Fourth Quarter 2022 Dividend, Payable on December 30, 2022

Third quarter 2022 earnings released: FFO per share: US$2.3 (vs US$1.97 in 3Q 2021)

Extra Space Storage Inc. Provides Earnings Guidance for the Second Quarter and Fiscal Year 2022

Extra Space Storage Inc. to Report Q3, 2022 Results on Nov 01, 2022

Extra Space Storage Inc. (NYSE:EXR) acquired Storage Express Llc for approximately $590 million.

Invesco Advisers, Inc. and Baranof Holdings, LLC acquired 84,149 SF facility at 160 John St. in Brooklyn/a 27,462 SF facility at 3719 Crescent St. in Long Island City from Extra Space Storage Inc. (NYSE:EXR).

Upcoming dividend of US$1.50 per share

Extra Space Storage Inc. Declares Dividend for the Third Quarter 2022, Payable on September 30, 2022

Second quarter 2022 earnings released

Extra Space Storage Inc. to Report First Half, 2022 Results on Aug 02, 2022

Upcoming dividend of US$1.50 per share

Extra Space Storage Inc. Announces Quarterly Dividend for the Second Quarter 2022, Payable on June 30, 2022

Extra Space Storage Inc. Revises Earnings Guidance for the Year Ending December 31, 2022

First quarter 2022 earnings released: EPS: US$1.52 (vs US$1.54 in 1Q 2021)

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age

Board Members

Average Tenure

Average Age