Form 4: Broadstone Net Lease EVP, CFO & Treasurer Kevin Fennell Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Kevin Fennell, EVP, CFO & Treasurer of Broadstone Net Lease, Inc. (BNL), reports acquisition and disposal of common stock related to performance-based awards and tax obligations.
Summary
- On March 6, 2025, Kevin Fennell, EVP, CFO & Treasurer of Broadstone Net Lease, Inc., reported changes in beneficial ownership of the company's common stock.
- Fennell acquired 754 shares of common stock at $0 related to performance-based awards granted on February 28, 2022, for the three-year performance period ending February 28, 2025.
- The report also indicates the disposal of 385 shares at $16.84 to cover tax obligations related to the vesting of shares awarded under the company's 2020 Omnibus Equity and Incentive Plan.
- Following these transactions, Fennell beneficially owns 173,429 shares of Broadstone Net Lease, Inc., including 130,842 unvested restricted shares.
Sentiment
Score: 6
Explanation: Neutral sentiment as the filing reflects routine transactions related to executive compensation and tax obligations.
Positives
- The acquisition of shares indicates that performance criteria were met, suggesting positive performance during the specified period.
Industry Context
Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to monitor the actions of those with privileged information.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine executive compensation adjustments.
Key Dates
| Date | Description |
|---|---|
| February 28, 2022 | Date of grant for performance-based awards. |
| February 28, 2025 | End date of the three-year performance period for the awards. |
| March 6, 2025 | Date of the reported transactions (acquisition and disposal of shares). |
| March 10, 2025 | Date of signature for the Form 4 filing. |
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