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

Vicki Lundy Wilbon, a director of STAG Industrial, acquired 425 shares of common stock in lieu of quarterly fees.

Summary

• On October 15, 2024, Vicki Lundy Wilbon, 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 her services as a director.
• The shares were valued at $38.19 each, based on the average closing price of the shares for the 10-day period ended October 9, 2024.
• The transaction was executed under STAG Industrial, Inc.'s 2011 Equity Incentive Plan, as amended.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive as it reflects a director's continued investment in the company and efficient use of company resources.

Positives

• The acquisition reflects the director's continued investment in the company.
• Using equity in lieu of cash fees can preserve cash for the company.

Industry Context

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

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) (now acquired by Prologis) have similar compensation structures for their board members.
• The amount of equity granted in lieu of fees is generally in line with industry standards for director compensation at companies of similar size and market capitalization.

Stakeholder Impact

• The transaction aligns the director's interests with those of shareholders.
• Using equity instead of cash for fees can be seen as a positive for creditors and other stakeholders as it preserves the company's cash position.

Key Dates