DEF 14A: Terreno Realty Corporation Announces 2024 Annual Meeting of Stockholders
Proxy Statement
Terreno Realty Corporation's 2024 annual meeting of stockholders will be held on May 7, 2024, to vote on the election of directors, executive compensation, and the ratification of the independent accounting firm.
Summary
- Terreno Realty Corporation will hold its 2024 annual meeting of stockholders on May 7, 2024, at its Bellevue office.
- Stockholders will vote on the election of seven directors, an advisory vote on executive compensation, and the ratification of Ernst & Young LLP as the independent registered certified public accounting firm for the 2024 fiscal year.
- The record date for determining stockholders eligible to vote is March 8, 2024.
- The board of directors recommends voting for the election of all director nominees and for the approval of the executive compensation and the ratification of Ernst & Young LLP.
- The proxy statement and 2023 Annual Report are available online.
Sentiment
Score: 7
Explanation: The document is neutral in tone, as it is a standard proxy statement. It provides necessary information for stockholders to make informed decisions.
Positives
- The board of directors is actively engaged in risk oversight and corporate governance.
- The company has a code of business conduct and ethics in place.
- The company is committed to environmental stewardship, social responsibility, and governance.
- The company provides opportunities for stockholders to communicate with the board.
- The company encourages electronic delivery of proxy materials to reduce costs.
Industry Context
This is a standard proxy statement for a publicly traded REIT, outlining the matters to be voted on at the annual meeting, providing information on director nominees, executive compensation, and corporate governance practices.
Comparison to Industry Standards
- The document outlines standard corporate governance practices for a publicly traded REIT, similar to companies like Prologis (PLD), Digital Realty Trust (DLR), and Sunstone Hotel Investors (SHO).
- The board composition, committee structure, and executive compensation policies are consistent with industry norms.
- The focus on environmental stewardship, social responsibility, and governance (ESG) aligns with increasing investor expectations for REITs.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Director | Linda Assante | N/A | 2024-05-07 | Ms. Assante will not be standing for re-election as a member of our board of directors. |
| Executive Vice President | John T. Meyer | John T. Meyer | 2024-01-08 | Mr. Meyer was promoted to the position of Executive Vice President, Chief Operating Officer on January 8, 2024. |
Stakeholder Impact
- Shareholders are asked to vote on key decisions regarding the company's direction and governance.
- Employees are indirectly affected by decisions regarding executive compensation and company performance.
- The company's commitment to ESG impacts the broader community and environment.
Next Steps
- Stockholders should review the proxy materials and vote on the proposals.
- The company will hold the annual meeting on May 7, 2024.
- The company will announce the results of the votes after the annual meeting.
Key Dates
| Date | Description |
|---|---|
| 2024-03-08 | Record date for determining stockholders eligible to vote at the annual meeting |
| 2024-03-22 | Approximate date of mailing the proxy statement and 2023 Annual Report to stockholders |
| 2024-05-06 | Deadline for authorizing a proxy to vote shares via telephone or internet (11:59 p.m. Eastern Time) |
| 2024-05-07 | Date of the 2024 annual meeting of stockholders |
| 2024-10-23 | Earliest date for receipt of stockholder nomination or proposal intended to be considered at the 2025 annual meeting of stockholders |
| 2024-11-12 | If the number of directors to be elected at the 2025 annual meeting of stockholders is increased, and there is no public announcement of such increase before November 12, 2024, then notice of nominees for any new positions created by such increase must be delivered not later than 5:00 p.m., Eastern Time, the close of business, on the later of November 12, 2024 and the tenth day after the day on which public announcement of such increase is first made by the Company. |
| 2024-11-22 | Deadline for receipt of stockholder proposals for inclusion in the proxy materials relating to the 2025 annual meeting of stockholders |
Keywords
stockholders, annual meeting, directors, executive compensation, proxy statement, corporate governance, Terreno Realty Corporation, voting, proxy
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