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

Director Jeffrey D. Furber acquired 594 shares of STAG Industrial, Inc. common stock in lieu of quarterly fees.

Summary

• On July 15, 2024, Jeffrey D. Furber, a director of STAG Industrial, Inc., acquired 594 shares of common stock.
• The acquisition was made in lieu of quarterly fees of $21,250 for his services as a director.
• The shares were valued at $35.75 each, based on the average closing price for the 10-day period ended July 10, 2024.
• Following the transaction, Furber directly owns 50,858 shares of STAG Industrial, Inc.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The director is taking shares in lieu of cash, which shows confidence in the company. It's a routine transaction, so it's not overly significant.

Positives

• The acquisition reflects the director's continued investment in the company.
• The use of equity in lieu of cash preserves company cash flow.

Industry Context

Director compensation in the form of equity is a common practice in publicly traded companies to align the interests of directors with those of shareholders.

Comparison to Industry Standards

• Many REITs (Real Estate Investment Trusts) like STAG Industrial use equity-based compensation for directors.
• Companies such as Prologis (PLD) and Duke Realty (DRE) (prior to its acquisition by Prologis) have similar compensation structures for their board members.
• The amount of equity granted in lieu of fees appears to be within the typical range for REIT director compensation.

Stakeholder Impact

• Shareholders may view the director's share acquisition positively, as it aligns their interests with management.
• The company benefits from preserving cash by issuing shares instead of paying cash fees.

Key Dates