MICHELSON LESLIE D 4

What Happened Leslie D. Michelson, a director of Global Net Lease, Inc. (GNL), was granted 13,859 restricted stock units (RSUs) on May 21, 2026. The grant price/value is listed as $9.38 per share, for a total reported value of $129,997. This transaction is an award/grant (code A) — not a cash purchase or sale of existing shares — and represents a contingent right to receive common stock if and when the RSUs vest.

Key Details

• Transaction date: May 21, 2026; filing date: May 26, 2026 (filed 5 days after the transaction; typical Form 4 reporting is within two business days, so this filing appears late).
• Securities granted: 13,859 RSUs at $9.38 per share; total reported value $129,997.
• Vesting: Per footnote, RSUs vest on May 20, 2027; each RSU converts to one share upon vesting.
• Shares owned after transaction: Not disclosed in the provided summary.
• Other notes: No tax-withholding sale or 10b5-1 plan referenced in the provided footnote; only the RSU vesting condition is specified.

Context RSUs are a form of equity compensation that only become actual shares if and when they vest; they are not an immediate purchase signal like an open-market buy. Grants to directors are common as part of compensation and retention programs. The late filing is a procedural point for compliance monitoring but does not, by itself, indicate any insider sentiment about the stock.