Form 4: Director Michael Coke Receives Broadstone Net Lease Equity

Director Michael A. Coke was granted 4,987 shares of restricted stock as part of Broadstone Net Lease's director compensation policy.

Summary

• Director Michael A. Coke acquired 4,987 shares of restricted common stock on May 1, 2026.
• The grant was issued under the company's 2020 Omnibus Equity Incentive Plan and non-employee director compensation policy.
• The shares are subject to a vesting schedule tied to the earlier of May 1, 2027, or the next annual meeting of stockholders under specific conditions.
• Following this transaction, the director holds 62,950 shares directly and 22,952 shares indirectly through a family trust.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a routine regulatory disclosure regarding director compensation, which carries a neutral sentiment.

Positives

• Alignment of director interests with shareholders through equity-based compensation.
• Standardized compensation practice consistent with the company's 2020 Omnibus Equity Incentive Plan.

Negatives

• None identified.

Risks

• Vesting of restricted stock is subject to specific time-based conditions related to future annual meetings.

Future Outlook

The restricted stock is expected to vest on May 1, 2027, or the date of the next annual meeting of stockholders, provided specific timing criteria are met.

Industry Context

StockSavvy.ai notes that equity grants to non-employee directors are a standard corporate governance practice in the Real Estate Investment Trust (REIT) sector to ensure long-term alignment between board members and shareholders.

Comparison to Industry Standards

• The use of restricted stock units for director compensation is consistent with industry-standard practices for publicly traded REITs.
• The vesting period of approximately one year aligns with typical annual director compensation cycles observed in mid-cap real estate companies.

Related Party Transactions

• The reporting person holds 22,952 shares indirectly through a family trust of which he is a co-trustee.

Stakeholder Impact

• Minimal impact on shareholders as this is a standard compensation-related equity issuance.

Next Steps

• Vesting of the 4,987 restricted shares on May 1, 2027, or the next annual meeting of stockholders.

Key Dates

Keywords

Broadstone Net Lease, BNL, Director Compensation, Restricted Stock, Insider Transaction, Form 4