Form 4: STAG Industrial Director Chin Jit Kee Acquires Shares in Lieu of Fees
SEC Form 4 Filing
Director Chin Jit Kee acquired 430 shares of STAG Industrial, Inc. common stock in lieu of quarterly fees.
Summary
- On April 15, 2024, Chin Jit Kee, 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 services as a director.
- 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, Chin Jit Kee directly owns 6,691 shares of STAG Industrial, Inc.
Sentiment
Score: 7
Explanation: The sentiment is neutral to positive. A director taking shares in lieu of fees shows confidence in the company's future.
Positives
- The acquisition reflects continued director investment in the company.
Industry Context
Directors receiving equity in lieu of fees is a common practice to align their interests with shareholders and conserve company cash.
Related Party Transactions
- The issuance of shares to Chin Jit Kee, a director, in lieu of quarterly fees is a related party transaction.
Stakeholder Impact
- The transaction has a minor positive impact on shareholders as it aligns director interests with shareholder value.
Key Dates
| Date | Description |
|---|---|
| 04/10/2024 | End date for the 10-day period used to calculate the average closing price of the shares. |
| 04/15/2024 | Date of the transaction where Chin Jit Kee acquired shares. |
| 04/17/2024 | Date of signature for the Form 4 filing. |
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