4//SEC Filing
Sullivan Jeffrey M 4
Accession 0001415889-23-016861
CIK 0001479094other
Filed
Dec 20, 7:00 PM ET
Accepted
Dec 21, 7:40 PM ET
Size
15.3 KB
Accession
0001415889-23-016861
Insider Transaction Report
Form 4
Sullivan Jeffrey M
EVP, GC AND SECRETARY
Transactions
- Sale
Common Stock
2023-12-20$38.84/sh−19,650$763,216→ 0 total - Conversion
Partnership Units
2023-12-20−19,650→ 0 total→ Common Stock, par value $0.01 per share (19,650 underlying) - Conversion
Common Stock
2023-12-20+19,650→ 19,650 total - Conversion
LTIP Units
2023-12-20−19,650→ 219,731 total→ Common Stock, par value $0.01 per share (19,650 underlying) - Conversion
Partnership Units
2023-12-20+19,650→ 19,650 total→ Common Stock, par value $0.01 per share (19,650 underlying)
Footnotes (4)
- [F1]On December 20, 2023, the reporting person converted a total of 19,650 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 19,650 common units of limited partnership of the Operating Partnership ("OP Units") and redeemed 19,650 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 December 20, 2023, sales prices ranged from $38.37 to $39.05. 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]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.
- [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.
Documents
Issuer
STAG Industrial, Inc.
CIK 0001479094
Entity typeother
Related Parties
1- filerCIK 0001628854
Filing Metadata
- Form type
- 4
- Filed
- Dec 20, 7:00 PM ET
- Accepted
- Dec 21, 7:40 PM ET
- Size
- 15.3 KB