Benjamin S. Butcher - Feb 16, 2024 Form 4 Insider Report for STAG Industrial, Inc. (STAG)

Role
Director
Signature
/s/ Jeffrey M. Sullivan, Attorney-in-Fact
Stock symbol
STAG
Transactions as of
Feb 16, 2024
Transactions value $
-$2,997,109
Form type
4
Date filed
6/10/2024, 04:16 PM
Previous filing
Jan 16, 2024
Next filing
Apr 1, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction STAG Common Stock Conversion of derivative security +50K +602.12% 58.3K Feb 16, 2024 Direct F1
transaction STAG Common Stock Sale -$1.95M -50K -85.76% $39.06 8.3K Feb 16, 2024 Direct F2
transaction STAG Common Stock Conversion of derivative security +30K +361.27% 38.3K Jun 6, 2024 Direct F3
transaction STAG Common Stock Sale -$1.04M -30K -78.32% $34.81 8.3K Jun 6, 2024 Direct F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction STAG LTIP Units Conversion of derivative security -50K -6.73% 693K Feb 16, 2024 Common Stock, par value $0.01 per share 50K Direct F1, F5
transaction STAG Partnership Units Conversion of derivative security +50K +536.48% 59.3K Feb 16, 2024 Common Stock, par value $0.01 per share 50K Direct F1, F6
transaction STAG Partnership Units Conversion of derivative security -50K -84.29% 9.32K Feb 16, 2024 Common Stock, par value $0.01 per share 50K Direct F1, F6
transaction STAG LTIP Units Conversion of derivative security -30K -4.33% 663K Jun 6, 2024 Common Stock, par value $0.01 per share 30K Direct F3, F5
transaction STAG Partnership Units Conversion of derivative security +30K +321.89% 39.3K Jun 6, 2024 Common Stock, par value $0.01 per share 30K Direct F3, F6
transaction STAG Partnership Units Conversion of derivative security -30K -76.3% 9.32K Jun 6, 2024 Common Stock, par value $0.01 per share 30K Direct F3, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On February 16, 2024, the reporting person converted a total of 50,000 long-term incentive plan units ("LTIP Units") of STAG Industrial Operating Partnership, L.P., a Delaware limited partnership (the "Operating Partnership"), of which STAG Industrial, Inc., a Maryland corporation (the "Issuer"), is the sole member of the general partner, into 50,000 common units of limited partnership of the Operating Partnership ("OP Units") and redeemed 50,000 OP Units. The LTIP Units are convertible into OP Units as they are non-forfeitable and certain conditions to parity have been satisfied. The OP Units held by the reporting person are redeemable for cash equal to the current market value of one share of the Issuer's common stock or, at the Issuer's election, for shares of the Issuer's common stock on a one-for-one basis. The Issuer elected to redeem the reporting person's OP Units with common stock.
F2 This represents the weighted average sales price. On February 16, 2024, sales prices ranged from $38.96 to $39.23. Upon request by the Securities and Exchange Commission, the Issuer or a stockholder of the Issuer, the reporting person will provide full information regarding the number of shares sold at each separate price.
F3 On June 6, 2024, the reporting person converted a total of 30,000 LTIPs of the Operating Partnership, of which the Issuer, is the sole member of the general partner, into 30,000 OP Units and redeemed 30,000 OP Units. The LTIP Units are convertible into OP Units as they are non-forfeitable and certain conditions to parity have been satisfied. The OP Units held by the reporting person are redeemable for cash equal to the current market value of one share of the Issuer's common stock or, at the Issuer's election, for shares of the Issuer's common stock on a one-for-one basis. The Issuer elected to redeem the reporting person's OP Units with common stock.
F4 This represents the weighted average sales price. On June 6, 2024, sales prices ranged from $34.80 to $34.84. Upon request by the Securities and Exchange Commission, the Issuer or a stockholder of the Issuer, the reporting person will provide full information regarding the number of shares sold at each separate price.
F5 Represents LTIP Units granted to the reporting person pursuant to the Issuer's 2011 Equity Incentive Plan, as amended. Over time, the LTIP Units can achieve full parity with OP Units for all purposes. If such parity is reached, non-forfeitable LTIP Units may be converted into OP Units and then may be redeemed for cash equal to the then-current market value of one share of the Issuer's common stock or, at the Issuer's election, for shares of the Issuer's common stock on a one-for-one basis. LTIP Units do not have an expiration date.
F6 Represents OP Units in the Operating Partnership. OP Units may be redeemed for cash equal to the then-current market value of one share of the Issuer's common stock or, at the Issuer's election, for shares of the Issuer's common stock on a one-for-one basis. The OP Units are vested as of the date of issuance and have no expiration date.