Form 4: Broadstone Net Lease Director Receives Equity Award

David M. Jacobstein, a director of Broadstone Net Lease, Inc., was granted 6,263 shares of restricted stock on May 2, 2025, according to a Form 4 filing.

Summary

• On May 2, 2025, David M. Jacobstein, a director of Broadstone Net Lease, Inc. (BNL), received an equity award of 6,263 shares of restricted stock.
• The grant was made under the Issuer's non-employee director compensation policy and the 2020 Omnibus Equity Incentive Plan.
• The restricted stock will vest on the earlier of May 2, 2026, or the date of the Issuer's next annual meeting of stockholders, provided the meeting is at least 50 weeks after the 2025 annual meeting.
• Following the transaction, Jacobstein beneficially owns a total of 64,133 shares, including unvested restricted stock, shares held in an IRA, and shares held in a trust.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects standard director compensation practices, indicating stability and alignment of interests.

Positives

• The equity award aligns the director's interests with those of the shareholders.
• The vesting schedule encourages continued service and commitment to the company.

Future Outlook

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

Industry Context

Equity awards are a common form of compensation for directors of publicly traded companies, aligning their interests with shareholders and incentivizing long-term value creation.

Comparison to Industry Standards

• Director compensation packages, including equity awards, vary significantly across the REIT sector depending on company size, performance, and governance practices.
• Comparable REITs such as Realty Income (O) and National Retail Properties (NNN) also utilize equity-based compensation for their directors, with vesting schedules typically tied to continued service.

Stakeholder Impact

• Shareholders may view the equity award positively as it aligns the director's interests with long-term company performance.
• The director is incentivized to contribute to the company's success to realize the value of the restricted stock.

Key Dates

Keywords

Broadstone Net Lease, Director, Equity Award, Restricted Stock, Form 4, Beneficial Ownership, Jacobstein