Alexander & Baldwin (ALEX) Proxy Filing summary

Executive summary

• The annual meeting is scheduled for April 22, 2025, in a virtual format, with shareholders able to vote electronically on key proposals.

• 2024 saw strong financial performance: diluted EPS rose 102.4% to $0.83, and FFO per diluted share increased 25.7% to $1.37.

• The commercial real estate portfolio achieved 2.87% same-store NOI growth and 94.6% leased occupancy.

• The company maintained a net debt to EBITDA ratio of 3.6x and liquidity of $333.4 million as of year-end 2024.

• General and administrative expenses were reduced by $4.2 million (12.4%) compared to 2023.

Voting matters and shareholder proposals

• Shareholders will vote to elect six directors, approve executive compensation, determine the frequency of future say-on-pay votes, and ratify the appointment of Deloitte & Touche LLP as the independent auditor.

• The board recommends voting for all director nominees, for executive compensation, for annual say-on-pay votes, and for auditor ratification.

• Shareholder proposals for the 2026 meeting must be received by November 11, 2025, for inclusion in the proxy statement.

Board of directors and corporate governance

• All directors except the CEO are independent; the board features an independent chair, lead independent director, and CEO.

• The board is diverse: 33% women, 66% people of color, and average tenure is less than seven years.

• Annual board and committee evaluations are conducted, and there is a robust shareholder engagement program.

• Directors are subject to share ownership guidelines and a mandatory retirement age of 75.