Form 4: Broadstone Net Lease Executive Acquires and Disposes of Shares to Cover Tax Obligations
SEC Form 4 Filing
Michael B. Caruso, SVP at Broadstone Net Lease, reports acquisition of shares from performance-based awards and subsequent disposal to cover tax obligations.
Summary
- On March 6, 2025, Michael B. Caruso, SVP of Underwriting & Strategy at Broadstone Net Lease, acquired 823 shares of common stock related to performance-based awards.
- These awards were granted on February 28, 2022, and vested based on criteria met during the three-year performance period ending February 28, 2025.
- Simultaneously, Caruso disposed of 297 shares at $16.84 per share to cover tax obligations associated with the vesting of these shares.
- Following these transactions, Caruso beneficially owns 101,205 shares of Broadstone Net Lease, including 75,224 unvested restricted shares.
Sentiment
Score: 5
Explanation: The document reflects routine transactions related to executive compensation and tax obligations, indicating a neutral sentiment.
Industry Context
Form 4 filings are standard disclosures required by the SEC to ensure transparency in trading activities by company insiders. This filing indicates routine transactions related to executive compensation and tax obligations, which are common in publicly traded companies.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they are related to executive compensation and tax obligations.
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 stock acquisition and disposal. |
| March 10, 2025 | Date of signature for the Form 4 filing. |
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