Butcher Benjamin S 4

What Happened
Benjamin S. Butcher, a director of STAG Industrial, received 440 shares on April 15, 2026. The shares were issued as an award (transaction code A) under STAG’s 2011 Equity Incentive Plan in lieu of quarterly director fees. The shares were valued at $36.86 each (10-day average closing price through April 10, 2026), for a reported value of $16,218.

Key Details

• Transaction date: 2026-04-15 (reported on Form 4 filed 2026-04-17) — filed two days later, which appears timely under Section 16 reporting rules.
• Security acquired: 440 common shares at $36.86 per share (aggregate value reported $16,218).
• Consideration/Reason: Issued in lieu of quarterly director fees of $16,250 under the 2011 Equity Incentive Plan (valuation based on 10-day average closing price; slight rounding in reported aggregate).
• Shares owned after the transaction: Not disclosed in the provided filing excerpt.
• Note: This was an award issued as compensation (not an open-market purchase or sale).

Context
Director awards issued in lieu of cash fees are routine compensation and do not necessarily signal the director’s personal buying or selling intent. Retail investors should view this as part of regular director compensation rather than an explicit bullish or bearish insider trade.