8-KLeadership ChangesRegulation FDExhibits & Filings

Extra Space Storage Inc. 8-K Report, Executive Changes (May 19, 2025)

Filed May 19, 2025For Securities:EXR

Summary

Extra Space Storage Inc. (EXR) announced a significant leadership transition within its finance department via an 8-K filing on May 19, 2025. P. Scott Stubbs, the current Executive Vice President and Chief Financial Officer (CFO), is set to retire effective December 31, 2025, after a long tenure with the company. To ensure a smooth handover, Mr. Stubbs will remain an active member of the Executive Committee and will work closely with his successor until his retirement date. The company has appointed Jeff Norman, the current Senior Vice President of Capital Markets and Treasury, to step into the CFO role starting July 1, 2025. Mr. Norman brings extensive experience within Extra Space Storage, having held various leadership positions since 2012, with a particular focus on capital markets, treasury, and investor relations. His compensation package for the new role includes a base salary of $450,000 and a $300,000 restricted stock grant, alongside eligibility for existing bonus and equity programs.

Key Highlights

  • 1P. Scott Stubbs, EVP and CFO, will retire effective December 31, 2025.
  • 2Jeff Norman appointed as the new EVP and CFO, effective July 1, 2025.
  • 3Mr. Stubbs will remain on the Executive Committee and provide transition support through his retirement.
  • 4Mr. Norman has a strong internal track record with the company since 2012, specializing in capital markets and treasury.
  • 5Mr. Norman's new role includes a base salary of $450,000 and a $300,000 restricted stock grant.
  • 6The company issued a press release on May 19, 2025, announcing these leadership changes.

Frequently Asked Questions

This 8-K filing announces a key leadership change in the finance department: the planned retirement of the current CFO, P. Scott Stubbs, and the appointment of Jeff Norman as his successor.

Jeff Norman will assume the responsibilities of Chief Financial Officer beginning July 1, 2025. P. Scott Stubbs will retire on December 31, 2025.

Jeff Norman has been with Extra Space Storage since 2012, holding various roles of increasing responsibility. Most recently, he served as Senior Vice President of Capital Markets and Treasury. He has significant experience in capital markets, treasury, risk management, and investor relations.

Jeff Norman's compensation as the new CFO will include an annual base salary of $450,000 and a restricted stock grant valued at $300,000, effective July 1, 2025. He will also remain eligible for the company's standard bonus, equity awards, and other employee benefits.