Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On January 1, 2022, David Dodman formally succeeded Edward Killeen as Chief
Operating Officer of Life Storage, Inc. (the "Company"). Mr. Killeen's
previously announced retirement with the Company became effective on
December 31, 2021. Mr. Dodman, age 48, has served as Senior Vice President,
Strategic Planning and Investor Relations with the Company since June 2018.
Prior to joining the Company, Mr. Dodman held various corporate strategy,
mergers and acquisitions, and operational roles at KeyCorp, First Niagara
Financial Group, Inc. and Lockheed Martin Corporation. He also worked in the
Corporate Finance/Investment Banking departments of Legg Mason, Inc. and Stifel
Financial Corp. after earning an MBA from the University of Maryland and BA from
Loyola University Maryland.
In connection with his appointment as Chief Operating Officer, Mr. Dodman
entered into an amended and restated employment agreement with the
Company. Pursuant to such employment agreement, Mr. Dodman will have an annual
salary of $350,000. The employment agreement also provides for severance
payments in the event Mr. Dodman is terminated without cause by the Company or
for good reason by Mr. Dodman and includes other terms generally consistent with
the existing employment agreements for the Company's Chief Executive Officer and
Chief Financial Officer. The employment agreement is included herein as Exhibit
10.1, which exhibit is incorporated by reference.
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Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description
10.1 Amended and Restated Employment Agreement by and among Life
Storage, Inc., Life Storage LP and David Dodman, dated January 1,
2022
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document).
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