Form 4: Broadstone Net Lease Director Laura L. Felice Reports Changes in Beneficial Ownership

Director Laura L. Felice reports acquisition of 6,883 shares of restricted stock and adjustments to holdings of Broadstone Net Lease, Inc.

Summary

• On May 3, 2024, Laura L. Felice, a director of Broadstone Net Lease, Inc., reported changes in beneficial ownership.
• Felice acquired 6,883 shares of restricted stock as part of the Issuer's non-employee director compensation policy and 2020 Omnibus Equity Incentive Plan.
• These shares will vest on the earlier of May 3, 2025, or the date of the Issuer's next annual meeting of stockholders, provided that the next annual meeting of stockholders is at least 50 weeks after the date of the Issuer's 2024 annual meeting of stockholders.
• Following the reported transaction, Felice beneficially owns 13,137 shares, including 6,883 shares of unvested restricted stock.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed neutrally to positively as it aligns interests. There are no indications of negative sentiment.

Positives

• The grant of restricted stock aligns the director's interests with those of the shareholders.
• The vesting schedule encourages long-term commitment from the director.

Future Outlook

The vesting of the restricted stock is contingent upon continued service as a director and the timing of the next annual meeting.

Industry Context

This is a standard practice for compensating directors in publicly traded companies, aligning their interests with shareholders through equity ownership.

Comparison to Industry Standards

• Granting restricted stock to directors is a common practice among publicly traded REITs like Broadstone Net Lease.
• The vesting schedule, typically one year or until the next annual meeting, is also standard.
• Companies such as Realty Income and National Retail Properties also utilize similar equity-based compensation plans for their directors.

Stakeholder Impact

• Shareholders may view the equity grant positively as it aligns the director's interests with the company's long-term performance.

Next Steps

• The restricted stock will vest according to the specified schedule.
• The director will continue to hold and potentially trade shares of Broadstone Net Lease, Inc., subject to insider trading regulations.

Key Dates