Our governance best practices include, but are not limited to, the following:

  • Separate chair and CEO roles
  • Stockholder ability to call special meetings
  • Simple majority vote to amend by-laws
  • Stock ownership requirements for executives and Directors
  • One-share, one-vote
  • External and internal executive pay parity
  • Annual director elections
  • Risk oversight by full Board and Committees
  • Anti-hedging, anti-short-sale and anti-pledging policies
  • Regular executive sessions of non-employee Directors
  • Annual Board and Committee self-evaluations
  • Compensation recovery/clawback policies
  • Annual advisory approval of executive compensation
  • Corporate governance principles
  • No poison pill

Compliance Programs

The Life Storage Code of Ethics sets forth our policies and procedures. Our Compliance Officer and the Board of Directors’ Audit Committee Chair oversee and enforce our anti-bribery, business ethics and whistleblower programs.

  • We have robust accounting systems to monitor and flag potential financial irregularities
  • All employees annually must read and sign-off on our Code of Ethics
  • Control Assessment Survey - As part of our enhanced risk assessments, an extensive ethical risk survey is administered annually to all employees at the Director level or above. The survey is also administered to a sample population of employees at other levels.
  • Our Code of Ethics provides guidance on ethical issues, supplemented by information on our company intranet on contacting your manager or the Compliance Department if employees have any questions or concerns

To ensure compliance with our Code of Ethics and our values, we have a robust whistleblower program. It offers anonymous, 24/7 reporting of any ethical concern with information and contact details provided on our company intranet. All reported incidents are investigated until resolved. It is available in English as all of our operations are in the U.S. and Ontario, Canada.

Vendor Code of Conduct

In addition to our employees and our customers, Life Storage's team includes a large list of trusted vendors that help our business achieve its greatest potential. Life Storage believes that the vendors we choose to partner with must uphold and demonstrate the same high level of ethics and values that we expect of ourselves. Accordingly, we are proud to say that starting in November 2020, 100% of the vendors who partner with Life Storage must first sign off and commit to the ethical standards found in our Life Storage Vendor Code of Conduct (maybe link here). By adding this requirement, we are taking another step to ensure that anyone partnering with Life Storage exemplifies the integrity, values, and trust that our core values demand.

View Vendor Code of Conduct

Relevant Documents

To view our library of governance documents please click the link below:

View Documents