Form 4: Belden SVP Acquires Shares Through Employee Stock Purchase Plan

Leah Tate, SVP of HR at Belden Inc., acquired 219 shares of common stock at $96.62 per share through the company's Employee Stock Purchase Plan, as reported in a recent SEC Form 4 filing.

Summary

• Leah Tate, Senior Vice President of Human Resources at Belden Inc. (BDC), reported the acquisition of 219 shares of Belden Inc. common stock.
• The transaction occurred on July 10, 2025, with shares acquired at a price of $96.62 per share.
• The shares were obtained through the Belden Inc. 2021 Employee Stock Purchase Plan (ESPP).
• Under the ESPP terms, the purchase price is 85% of the lesser of the stock price at the beginning of the offering period (January 1, 2025) or at the end of the offering period (June 30, 2025).
• Following this acquisition, Leah Tate directly holds 30,389 shares of Belden Inc. common stock.
• Additionally, 3,360 shares are indirectly owned by her spouse, and 1,163.666 shares are indirectly held in the Belden Retirement Savings Plan (401(k) Plan).
• A Limited Power of Attorney was executed on March 11, 2025, appointing Brian E. Anderson and Elizabeth Schepers as attorneys-in-fact to file SEC reports on behalf of Leah Tate.

Sentiment

Score: 7

Explanation: The acquisition of shares by an SVP through an ESPP indicates management confidence and aligns executive interests with shareholders, which is generally positive. However, it is a routine transaction and not indicative of significant new strategic developments.

Positives

• An executive acquiring shares through an Employee Stock Purchase Plan demonstrates confidence in the company's future performance and aligns management interests with shareholders.
• The Employee Stock Purchase Plan offers a discount (purchase price at 85% of the lesser of two prices), which is a benefit for participating employees and encourages broader employee ownership.

Future Outlook

The document does not provide a future outlook for the company, as it is a transactional report detailing an insider's stock acquisition.

Management Comments

• Shares acquired through the Belden Inc. 2021 Employee Stock Purchase Plan (the 'Plan'). The Plan is broadly available to employees of Belden Inc. and its subsidiaries. Pursuant to the terms of the Plan, the purchase price is 85% of the lesser of (i) the price at the beginning of the offering period (January 1, 2025) or (ii) the price at the end of the offering period (June 30, 2025). Employees elect their level of participation and the purchases are funded via payroll deductions through the offering period.
• Represents the balance of shares of Belden Inc. common stock held in the Belden Retirement Savings Plan as of the date of this filing.

Industry Context

This Form 4 filing is a routine disclosure of an insider stock transaction, specifically an acquisition through an employee stock purchase plan. Such plans are common across various industries as a means to encourage employee ownership and align interests with shareholders. This filing does not provide broader industry trends or competitive analysis.

Comparison to Industry Standards

• Employee Stock Purchase Plans (ESPPs) offering a discount (e.g., 15% as implied by the 85% purchase price) are a standard benefit in many publicly traded companies, particularly in the industrial and technology sectors where Belden Inc. operates.
• Companies such as Cisco Systems, Microsoft, and Apple also offer similar ESPP structures to their employees, often including a 'look-back' provision (lesser of beginning or end price) to maximize employee benefit.
• The specific discount and look-back period are competitive features designed to make the plan attractive for employee participation and retention.

Corporate Governance

Stakeholder Impact

• Shareholders: The acquisition by an SVP through an ESPP can be viewed positively as it signals management's belief in the company's value, potentially boosting investor confidence.
• Employees: The existence of an Employee Stock Purchase Plan (ESPP) is a benefit that encourages employee ownership and aligns their financial interests with the company's performance.

Next Steps

• Leah Tate will continue to hold the acquired shares as part of her beneficial ownership in Belden Inc.
• Future Form 4 filings will be made for any subsequent changes in her beneficial ownership.

Key Dates

Keywords

Belden Inc., BDC, Form 4, Insider Transaction, Stock Acquisition, Employee Stock Purchase Plan, Leah Tate, Corporate Governance, SEC Filing