NARASIMHAN SHEKAR 4
4 · Broadstone Net Lease, Inc. · Filed Oct 2, 2020
Insider Transaction Report
Form 4
NARASIMHAN SHEKAR
Director
Transactions
- Award
Common Stock
2020-10-01+1,538→ 70,476 total(indirect: By Beekman Advisors, Inc.)
Footnotes (3)
- [F1]On October 1, 2020, Broadstone Net Lease, Inc. (the "Issuer") granted the reporting person 1,538 shares of the Issuer's common stock pursuant to the Issuer's director compensation and stock ownership policy (the "Policy"). Pursuant to the Policy, the Issuer's directors are entitled to receive an annual retainer (payable quarterly). In addition, the chairperson of the board, the lead independent director, and the chairperson and members of each of the Issuer's audit, compensation, nominating and corporate governance, and real estate investment committees are entitled to receive an annual stipend (payable quarterly). Pursuant to the Policy, directors may elect to receive all or a portion of the annual retainer and stipends in the form of shares of the Issuer's common stock with a value equal to the amount of such retainer and stipend.
- [F2]On September 18, 2020, the Issuer effected a four-for-one stock split of its Common Stock and pursuant to which no fractional shares of Common Stock were issued (the "Recapitalization"). The amount of securities reported on this Form 4 has been adjusted to reflect the Recapitalization.
- [F3]The reported securities are owned by Beekman Advisors, Inc., of which the reporting person is the Managing Partner. The reporting person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for any purpose.