Form 4: Broadstone Net Lease Director Receives Equity Award

Director David M. Jacobstein receives 6,883 shares of restricted stock from Broadstone Net Lease, Inc.

Summary

• On May 3, 2024, David M. Jacobstein, a director of Broadstone Net Lease, Inc., was granted 6,883 shares of restricted stock.
• The grant was made under the Issuer's non-employee director compensation policy and 2020 Omnibus Equity Incentive Plan.
• The restricted stock will vest on the earlier of May 3, 2025, or the date of the Issuer's next annual meeting of stockholders, provided the meeting is at least 50 weeks after the 2024 annual meeting.
• Following the transaction, Jacobstein beneficially owns 57,870 shares, including unvested restricted stock, shares held in an IRA, and shares held in a trust.

Sentiment

Score: 7

Explanation: The document reflects a routine equity grant, which is generally viewed positively as it aligns director and shareholder interests. There are no indications of negative sentiment.

Positives

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

Future Outlook

The document does not contain specific forward-looking statements beyond the vesting schedule of the restricted stock.

Industry Context

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

Comparison to Industry Standards

• Equity compensation for board members is a common practice across the REIT industry, with amounts varying based on company size, performance, and board responsibilities.
• Comparable companies like Realty Income (O) and National Retail Properties (NNN) also utilize equity grants as part of their director compensation packages.
• The vesting schedule is typical, often tied to continued service or specific performance milestones.

Stakeholder Impact

• Shareholders may view the equity award positively as it aligns the director's interests with the company's long-term performance.
• The director benefits from the equity award, which provides a financial incentive to contribute to the company's success.

Key Dates