Form 4: Broadstone Net Lease CEO John Moragne Reports Changes in Beneficial Ownership

CEO John Moragne reports acquisition and disposal of Broadstone Net Lease (BNL) common stock related to tax obligations and restricted stock awards.

Summary

• On February 28, 2025, Broadstone Net Lease CEO John Moragne reported changes in his beneficial ownership of the company's common stock.
• He disposed of 16,295 shares to cover tax obligations related to vesting shares at a price of $16.81 per share.
• Moragne also acquired 80,744 shares of restricted stock under the company's 2020 Omnibus Equity and Incentive Plan at $0 cost.
• Following these transactions, Moragne beneficially owns 433,752 shares, including 307,228 unvested restricted shares.
• The restricted stock vests ratably on the first, second, third, and fourth anniversaries of February 28, 2025.
• The reported shares are owned jointly with the reporting person's spouse, with respect to which the reporting person shares voting and investment power.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The filing is a routine disclosure of stock transactions. The acquisition of restricted stock is a positive sign, but the disposal of shares for tax obligations is a neutral event.

Positives

• The acquisition of 80,744 restricted shares indicates confidence in the company's future performance.

Future Outlook

The vesting schedule of the restricted stock suggests a long-term commitment by the CEO to the company's success.

Industry Context

Form 4 filings are routine disclosures required by the SEC to ensure transparency in insider trading activities. This filing indicates changes in the CEO's ownership stake in Broadstone Net Lease.

Stakeholder Impact

• The disclosure provides transparency to shareholders regarding the CEO's ownership stake.

Key Dates