8-KLeadership ChangesRegulation FDExhibits & Filings

Extra Space Storage Inc. 8-K Report, Executive Changes (Aug 24, 2026)

Filed August 24, 2026For Securities:EXR

Summary

Extra Space Storage Inc. (EXR) announced a CEO transition plan. Current CEO Joseph D. Margolis will retire at the end of 2026, capping a significant tenure with the company. W. Noah Springer, currently President, is set to succeed Mr. Margolis as CEO and join the board of directors effective January 1, 2027. Mr. Margolis will transition to an advisory role to the board post-retirement, ensuring a degree of continuity. This planned transition aims to provide a smooth handover of leadership. Mr. Springer has a deep understanding of the company, having been with EXR since 2006 and holding key roles in operations, strategy, and partnerships, including the development of the third-party management platform. His compensation structure as CEO will include a base salary of $850,000, along with eligibility for bonuses and equity awards, aligning with the company's existing executive compensation program.

Key Highlights

  • 1CEO Joseph D. Margolis to retire effective December 31, 2026.
  • 2President W. Noah Springer appointed as successor CEO, effective January 1, 2027.
  • 3W. Noah Springer will also join the Company's board of directors on January 1, 2027.
  • 4Joseph D. Margolis will serve as an advisor to the board after his retirement.
  • 5W. Noah Springer's annual base salary as CEO will be $850,000, with eligibility for bonuses and equity awards.
  • 6Mr. Springer has extensive experience within Extra Space Storage since 2006, holding various leadership positions.

Frequently Asked Questions

Joseph D. Margolis is scheduled to retire as CEO of Extra Space Storage Inc. effective December 31, 2026.

W. Noah Springer, currently President of the Company, has been selected to succeed Joseph D. Margolis as CEO, effective January 1, 2027.

W. Noah Springer has been with Extra Space Storage since 2006 and has held several significant roles, including President since January 2026, Executive Vice President, Chief Strategy and Partnership Officer, and has been involved in acquisitions, third-party management, and asset management. He was instrumental in creating the company's third-party management platform.

W. Noah Springer's annual base salary as CEO will be $850,000. He will also remain eligible for an annual bonus, equity awards, and other standard employee benefits in accordance with the company's executive compensation program.

Yes, Joseph D. Margolis will remain a director on the Company's board until December 31, 2026, and thereafter will serve as an advisor to the board.