Pinard Matts 4
4 · STAG Industrial, Inc. · Filed Feb 23, 2026
Research Summary
AI-generated summary of this filing
STAG CFO Matts Pinard Sells 25,242 Shares ($989K)
What Happened
- Matts Pinard, EVP, Chief Financial Officer and Treasurer of STAG Industrial, converted 25,242 LTIP units into OP units and had those OP units redeemed for 25,242 shares of STAG common stock, then sold 25,242 shares in an open-market transaction. The weighted-average sale price was $39.18, for total proceeds of approximately $988,924. Reported sales prices ranged from $39.04 to $39.34.
Key Details
- Transaction date: February 23, 2026.
- Sale: 25,242 shares disposed in an open-market sale; weighted-average price $39.18; price range $39.04–$39.34; total proceeds ≈ $988,924. (Footnote F2)
- Derivative conversion/redemption: 25,242 LTIP Units converted to OP Units and those OP Units were redeemed for common stock (Issuer elected stock redemption). (Footnotes F1, F3, F4)
- Shares owned after transaction: not specified in this Form 4.
- Filing timeliness: Reported on the same day (filed Feb 23, 2026); not indicated as late.
Context
- This was not an option exercise in the classic sense but a conversion/redemption of long-term incentive (LTIP) units into partnership units (OP Units) and then redemption into common shares, which were immediately sold. Such conversions are part of STAG’s equity compensation mechanics (non-forfeitable LTIP units that can be converted and redeemed one-for-one when parity conditions are met).
- The transaction is a sale (liquidity event) rather than a purchase; sales by executives can be routine (compensation-related or portfolio management) and do not by themselves indicate company prospects.
Insider Transaction Report
Form 4
Pinard Matts
EVP, CFO AND TREASURER
Transactions
- Conversion
Common Stock
[F1]2026-02-23+25,242→ 26,193 total - Sale
Common Stock
[F2]2026-02-23$39.18/sh−25,242$988,924→ 951 total - Conversion
LTIP Units
[F3][F1]2026-02-23−25,242→ 93,859 total→ Common Stock, par value $0.01 per share (25,242 underlying) - Conversion
Partnership Units
[F4][F1]2026-02-23+25,242→ 25,242 total→ Common Stock, par value $0.01 per share (25,242 underlying) - Conversion
Partnership Units
[F4][F1]2026-02-23−25,242→ 25,242 total→ Common Stock, par value $0.01 per share (25,242 underlying)
Footnotes (4)
- [F1]On February 23, 2026, the reporting person converted a total of 25,242 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 25,242 common units of limited partnership of the Operating Partnership ("OP Units") and redeemed 25,242 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 February 23, 2026, sales prices ranged from $39.04 to $39.34. 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.
Signature
/s/ Jeffrey M. Sullivan, Attorney-in-Fact|2026-02-23