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

Francis X Jacoby III, a director at STAG Industrial, acquired 430 shares of common stock in lieu of quarterly fees.

Summary

• On April 15, 2024, Francis X Jacoby III, a director of STAG Industrial, Inc., acquired 430 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 $37.71 each, based on the average closing price for the 10-day period ended April 10, 2024.
• Following the transaction, Jacoby directly owns 30,190 shares of STAG Industrial common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. It reflects a routine transaction related to director compensation, which is generally viewed as a positive sign of alignment between management and shareholders.

Positives

• The director's acquisition of shares demonstrates confidence in the company.
• The use of equity in lieu of cash fees can be seen as a positive for the company's cash flow.

Industry Context

Directors receiving shares in lieu of fees is a fairly common practice, particularly for REITs like STAG Industrial, as it aligns the interests of the directors with those of the shareholders.

Comparison to Industry Standards

• Many REITs compensate directors with a mix of cash and equity.
• The specific amount and valuation method are typical for director compensation plans.
• Comparing STAG's director compensation structure to peers like Prologis (PLD) or Duke Realty (DRE) (prior to its acquisition by Prologis) would provide further context.

Stakeholder Impact

• The transaction has a minimal direct impact on shareholders.
• It reinforces the alignment of interests between the director and shareholders.

Key Dates