Moragne John David 4
4 · Broadstone Net Lease, Inc. · Filed Mar 16, 2026
Research Summary
AI-generated summary of this filing
Broadstone Net Lease (BNL) CEO John D. Moragne Receives Award, Sells Shares
What Happened
John D. Moragne, CEO of Broadstone Net Lease (BNL), received 148,741 performance-based shares on March 12, 2026 (acquired at $0.00). On the same date, 75,933 of those shares were surrendered/withheld to cover tax obligations at a reported value of $18.97 per share, resulting in $1,440,449 in tax withholding (disposition code F). The grant reflects the payout of a three‑year performance award.
Key Details
- Transaction date: 2026-03-12; Form 4 filed: 2026-03-16 (filed within the SEC’s reporting window).
- Award: 148,741 shares issued (code A) at $0.00.
- Withholding/tax disposition: 75,933 shares withheld (code F) at $18.97, totaling $1,440,449.
- Footnotes of note:
- F1: Award issued upon achievement of performance criteria for the three-year performance period ending Feb 28, 2026 (granted Feb 28, 2023).
- F4: Withheld shares were taken by the issuer to cover the reporting person’s tax obligations.
- F2: Filing notes it includes 337,517 shares of unvested restricted stock (as part of reported holdings).
- F3: Some reported shares are owned jointly with the reporting person’s spouse.
- Shares owned after the transaction are not specified in the excerpt provided.
Context
This was not an open‑market sale but a routine tax-withholding disposition tied to a performance-based restricted stock award (i.e., part of the award was surrendered to cover taxes). Such withholdings are common when equity vests and do not necessarily signal a CEO cashing out beyond fulfilling tax obligations.
Insider Transaction Report
- Award
Common Stock
[F1][F2][F3]2026-03-12+148,741→ 652,483 total - Tax Payment
Common Stock
[F4][F2][F3]2026-03-12$18.97/sh−75,933$1,440,449→ 576,550 total
Footnotes (4)
- [F1]Represents shares issued upon the determination of achievement of specified criteria in the three year performance period that ended on February 28, 2026 pursuant to performance-based awards granted on February 28, 2023.
- [F2]This amount includes 337,517 shares of unvested restricted stock.
- [F3]The reported shares are owned jointly with the reporting person's spouse, with respect to which the reporting person shares voting and investment power.
- [F4]Represents shares withheld by the issuer to cover tax obligations of the reporting person in connection with the vesting of shares awarded pursuant to the Company's 2020 Omnibus Equity and Incentive Plan.