Form 4: STAG Industrial Director Acquires Shares in Lieu of Fees

Director Benjamin S. Butcher acquired 425 shares of STAG Industrial, Inc. common stock in lieu of quarterly fees.

Summary

• On October 15, 2024, Benjamin S. Butcher, a director of STAG Industrial, Inc., acquired 425 shares of common stock.
• The acquisition was made in lieu of quarterly fees of $16,250 for the director's services.
• The shares were valued at $38.19 each, based on the average closing price for the 10-day period ended October 9, 2024.
• Following the transaction, Butcher directly owns 9,183 shares of STAG Industrial, Inc.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. A director taking shares in lieu of cash compensation is generally viewed as a positive sign, indicating confidence in the company's future performance and a desire to align interests with shareholders. There are no negative aspects to this announcement.

Positives

• The acquisition of shares by a director demonstrates confidence in the company.
• Using equity in lieu of cash fees preserves cash for the company.

Industry Context

Directors receiving shares in lieu of cash compensation is a common practice in publicly traded companies, aligning their interests with shareholders and conserving company cash.

Comparison to Industry Standards

• Many REITs, such as Prologis (PLD) and Duke Realty (DRE) before its acquisition, use equity-based compensation for directors.
• The amount of equity granted in lieu of fees is generally consistent with industry practices for director compensation at companies of similar size and market capitalization.

Stakeholder Impact

• Shareholders may view this as a positive sign, as it aligns the director's interests with theirs.
• The company benefits from conserving cash by issuing shares instead of paying cash fees.

Key Dates