4//SEC Filing
King David G 4
Accession 0001179110-20-000517
CIK 0001479094other
Filed
Jan 9, 7:00 PM ET
Accepted
Jan 10, 7:04 PM ET
Size
22.2 KB
Accession
0001179110-20-000517
Insider Transaction Report
Form 4
King David G
EVP and Director-Real Estate
Transactions
- Gift
Common Stock
2019-06-06+255→ 509 total - Conversion
Common Stock
2020-01-08+30,000→ 30,509 total - Conversion
Partnership Units
2020-01-08+30,000→ 30,000 total→ Common Stock, par value $0.01 per share (30,000 underlying) - Conversion
LTIP Units
2020-01-08−30,000→ 154,599 total→ Common Stock, par value $0.01 per share (30,000 underlying) - Conversion
Partnership Units
2020-01-08−30,000→ 0 total→ Common Stock, par value $0.01 per share (30,000 underlying) - Award
LTIP Units
2020-01-08+10,180→ 164,779 total→ Common Stock, par value $0.01 per share (10,180 underlying) - Sale
Common Stock
2020-01-08$31.32/sh−30,000$939,738→ 509 total - Award
LTIP Units
2020-01-08+20,062→ 184,841 total→ Common Stock, par value $0.01 per share (20,062 underlying)
Footnotes (8)
- [F1]The reporting person converted 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 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]The LTIP Units were converted, the OP Units were redeemed and the shares were sold pursuant to an approved Rule 10b5-1 Trading Plan entered into by the reporting person on December 9, 2019 in compliance with the Rule 10b5-1 Guidelines adopted by the Board of Directors of the Issuer (the "Board").
- [F3]This represents the weighted average sales price. Sales prices range from $31.09 to $31.52. Upon request by the Securities and Exchange Commission (the "SEC"), 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.
- [F4]The LTIP Units were granted to the reporting person by the Board. The LTIP Units were earned by the reporting person based on a performance unit award made in January 2017 pursuant to the Issuer's 2011 Equity Incentive Plan, as amended (the "Equity Incentive Plan"). The reporting person earned 166% of the target number of performance units over a three-year performance period. The Compensation Committee of the Board determined the number of LTIP Units earned on January 8, 2020. 12,910 LTIP Units are fully vested as of the issuance date and 7,152 LTIP Units are subject to forfeiture until December 31, 2020. For more information on the terms of the performance unit award, please see the Issuer's definitive proxy statement filed with the SEC.
- [F5]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.
- [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.
- [F7]The LTIP Units were granted to the reporting person on January 8, 2020 pursuant to the Equity Incentive Plan. The LTIP Units vest on a quarterly basis over a four-year period.
- [F8]Represents the number of LTIP Units earned as of December 31, 2019 under the performance unit award made in January 2017.
Documents
Issuer
STAG Industrial, Inc.
CIK 0001479094
Entity typeother
Related Parties
1- filerCIK 0001517398
Filing Metadata
- Form type
- 4
- Filed
- Jan 9, 7:00 PM ET
- Accepted
- Jan 10, 7:04 PM ET
- Size
- 22.2 KB