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

Francis X Jacoby III, a director at STAG Industrial, acquired 454 shares of common stock in lieu of quarterly fees.

Summary

• On July 15, 2024, Francis X Jacoby III, a director of STAG Industrial, Inc., acquired 454 shares of common stock.
• The shares were acquired in lieu of quarterly fees of $16,250 for his services as a director.
• The price per share was $35.75, based on the average closing price for the 10-day period ended July 10, 2024.
• Following the transaction, Jacoby directly owns 30,644 shares of STAG Industrial common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. A director taking shares in lieu of cash compensation is generally viewed favorably as it aligns interests with shareholders and conserves company cash.

Positives

• The director's acquisition of shares demonstrates confidence in the company.
• Using equity in lieu of cash preserves cash for the company.

Industry Context

Directors often receive equity as part of their compensation, aligning their interests with those of shareholders. This is a common practice in publicly traded companies.

Comparison to Industry Standards

• Director compensation packages vary widely across the REIT industry, but equity-based compensation is a common component.
• Comparing STAG Industrial's director compensation structure to peers like Prologis (PLD) or Duke Realty (DRE) (prior to its acquisition by Prologis) would provide a benchmark for assessing the competitiveness and alignment of incentives.

Stakeholder Impact

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

Key Dates