Benjamin S. Butcher - 04 Mar 2026 Form 4 Insider Report for STAG Industrial, Inc. (STAG)

Reporting relationship: Director
Issuer ticker: STAG
Reported as of: 04 Mar 2026
Net transaction value: $0
SEC form: 4
Accepted by SEC: 05 Mar 2026, 16:39:00 UTC
Prior SEC filing: 20 Jan 2026
Next SEC filing: 17 Apr 2026
Source filing: View source filing
Reporting owner signature: /s/ Jeffrey M. Sullivan, Attorney-in-Fact

Key filing fact

Benjamin S. Butcher filed Form 4 for STAG Industrial, Inc. (STAG) on 05 Mar 2026.

Key facts

This page summarizes Benjamin S. Butcher's Form 4 filing for STAG Industrial, Inc. (STAG).
5 reported transactions and 3 derivative rows are listed below.
Accepted by SEC: 05 Mar 2026, 16:39.

Change

Previous filing in this sequence was filed on 20 Jan 2026.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0001517406 Primary reporting owner

Butcher Benjamin S

Relationship: Director
Address: C/O STAG INDUSTRIAL, INC., ONE FEDERAL STREET, 23RD FLOOR, BOSTON
Signature: /s/ Jeffrey M. Sullivan, Attorney-in-Fact
Signature date: 05 Mar 2026

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

STAG transaction

Common Stock

Conversion of derivative security

Transaction value
Shares: +30,000
Change %: +355%
Price
Shares after: 38,448
Date: 04 Mar 2026
Ownership: Direct
Footnotes: F1

STAG transaction

Common Stock

Disposed to Issuer

Transaction value
Shares: -30,000
Change %: -78%
Price: $39.25^*
Shares after: 8,448
Date: 04 Mar 2026
Ownership: Direct
Footnotes: F2

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

STAG transaction Derivative

LTIP Units

Conversion of derivative security

Transaction value
Shares: -30,000
Change %: -5.1%
Price
Shares after: 560,623
Date: 04 Mar 2026
Ownership: Direct
Underlying class: Common Stock, par value $0.01 per share
Underlying amount: 30,000
Exercise price
Footnotes: F1, F3

STAG transaction Derivative

Partnership Units

Conversion of derivative security

Transaction value
Shares: +30,000
Change %: +322%
Price
Shares after: 39,320
Date: 04 Mar 2026
Ownership: Direct
Underlying class: Common Stock, par value $0.01 per share
Underlying amount: 30,000
Exercise price
Footnotes: F1, F4

STAG transaction Derivative

Partnership Units

Conversion of derivative security

Transaction value
Shares: -30,000
Change %: -76%
Price
Shares after: 9,320
Date: 04 Mar 2026
Ownership: Direct
Underlying class: Common Stock, par value $0.01 per share
Underlying amount: 30,000
Exercise price
Footnotes: F1, F4

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 4 footnotes

Footnote F1

On March 4, 2026, the reporting person converted a total of 30,000 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 30,000 common units of limited partnership of the Operating Partnership ("OP Units") and redeemed 30,000 OP Units. The LTIP Units are convertible into OP Units as they are nonforfeitable 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.

Footnote F2

This represents the weighted average sales price. On March 4, 2026, sales prices ranged from $39.25 to $39.28. 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.

Footnote F3

Represents LTIP Units granted to the reporting person pursuant to the Equity Incentive Plan. 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.

Footnote F4

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.