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

Larry T. Guillemette, a director of STAG Industrial, Inc., acquired 916 shares of common stock in lieu of quarterly fees.

Summary

• On October 15, 2024, Larry T. Guillemette, a director of STAG Industrial, Inc., acquired 916 shares of common stock.
• The acquisition was made in lieu of quarterly fees of $35,000 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, Guillemette directly owns 43,624 shares of STAG Industrial, Inc.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. It reflects a routine transaction indicating director alignment with the company's interests. There are no indications of negative performance or concerns.

Positives

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

Industry Context

Directors receiving shares in lieu of cash compensation is a fairly 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 part of Prologis) have similar compensation structures for their board members.
• The amount of equity granted in lieu of fees is within the typical range for REIT director compensation.

Related Party Transactions

• The acquisition of shares by the director in lieu of fees is a related party transaction.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders by aligning director interests with company performance and conserving cash.

Key Dates