Form 4: STAG Industrial Director Converts and Sells Over 28,000 Shares

STAG Industrial, Inc. Director Benjamin S. Butcher converted long-term incentive plan units and partnership units into common stock, subsequently selling 28,843 shares for approximately $1.06 million.

Summary

• On June 6, 2025, Benjamin S. Butcher, a Director of STAG Industrial, Inc., converted 28,843 long-term incentive plan units (LTIP Units) of STAG Industrial Operating Partnership, L.P. into 28,843 common units of limited partnership (OP Units).
• Concurrently, Mr. Butcher redeemed these 28,843 OP Units, and STAG Industrial, Inc. elected to issue 28,843 shares of its common stock in exchange.
• Following the conversion and redemption, Mr. Butcher disposed of 28,843 shares of STAG Industrial common stock through a sale.
• The common stock was sold at a weighted average price of $36.9007 per share, with individual sales prices ranging from $36.76 to $37.01.
• After these transactions, Mr. Butcher's direct beneficial ownership of common stock is 7,115 shares.
• Mr. Butcher continues to beneficially own 662,254 LTIP Units and a total of 47,483 Partnership Units (OP Units).

Sentiment

Score: 5

Explanation: The sentiment is neutral. While it involves an insider sale, it appears to be a routine transaction related to compensation realization rather than a signal of negative sentiment towards the company. The director retains significant equity exposure through derivative securities.

Positives

• The transaction demonstrates the functioning of the company's equity incentive plan, allowing directors to realize value from their long-term incentive units.
• The director retains a substantial beneficial interest in the company through a significant number of LTIP Units (662,254) and Partnership Units (47,483), aligning his interests with long-term shareholder value.

Negatives

• The sale of 28,843 shares by a director, even if part of a pre-planned compensation realization, represents a reduction in direct common stock ownership and could be perceived negatively by some investors as insider selling.
• The transaction significantly reduced the director's direct common stock holdings from an unspecified prior amount to 7,115 shares.

Future Outlook

NA

Industry Context

NA

Related Party Transactions

• The transaction involves Benjamin S. Butcher, a Director of STAG Industrial, Inc., converting and selling shares of the company's common stock, which is a direct related party transaction.

Stakeholder Impact

• Shareholders: May observe the director's sale, which could be interpreted in various ways, though it is likely part of a pre-planned compensation realization strategy.
• Employees: No direct impact on employees is indicated by this filing.

Key Dates

Recommendation

Keywords

STAG Industrial, STAG, Form 4, Insider Trading, Director Transaction, Stock Sale, LTIP Units, OP Units, Common Stock, Benjamin S. Butcher, SEC Filing