Form 4: Broadstone Net Lease EVP, CFO & Treasurer Kevin Fennell Reports Changes in Beneficial Ownership

Kevin Fennell, EVP, CFO & Treasurer of Broadstone Net Lease, Inc., reports changes in beneficial ownership of company stock due to tax obligations and restricted stock awards.

Summary

• On February 28, 2025, Kevin Fennell, the EVP, CFO & Treasurer of Broadstone Net Lease, Inc., had changes in his beneficial ownership of the company's common stock.
• 6,538 shares were withheld by the issuer to cover tax obligations related to the vesting of shares awarded under the 2020 Omnibus Equity and Incentive Plan at a price of $16.81.
• He was also awarded 20,817 shares of restricted stock under the same plan.
• These restricted shares vest ratably on each of the first, second, third, and fourth anniversaries of February 28, 2025.
• Following these transactions, Fennell directly owns 173,060 shares of Broadstone Net Lease, Inc., including 130,842 unvested restricted shares.

Sentiment

Score: 6

Explanation: The document is a routine filing related to executive compensation and tax obligations, with no significant positive or negative implications.

Positives

• The awarding of restricted stock to the EVP, CFO & Treasurer aligns his interests with the long-term performance of the company.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Comparison to Industry Standards

• Equity compensation plans are a common practice in the real estate industry to incentivize executives.
• The vesting schedule of the restricted stock is typical, aligning with industry norms for long-term retention.

Stakeholder Impact

• Shareholders are informed about changes in insider ownership, which can influence investor sentiment.

Key Dates