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  4. [Form 4] BELDEN INC. Insider Trading Activity

Belden (NYSE: BDC) SVP exercises 4,847 SARs, sells 1,600 common shares

Filing Impact
(Moderate)
Filing Sentiment
(Positive)
Form Type
4

Rhea-AI Filing Summary

Belden Inc. executive reports stock appreciation right exercise and share sales. Senior Vice President of Strategy & Technology Hiran Bhadra exercised stock appreciation rights covering 4,847 shares of Belden common stock at an exercise price of $54.89 per share on 12/04/2025, acquiring the corresponding common stock.

On the same day, 3,247 shares were disposed of at a fair market value of $120.695 per share as part of the SAR mechanics and tax withholding, resulting in 1,600 shares being issued from the exercise. On 12/05/2025, those 1,600 shares were sold at $120 per share. All exercise and sale transactions were carried out under a Rule 10b5-1 trading plan adopted on August 15, 2025.

After these transactions, Bhadra directly owned 26,119 Belden common shares and indirectly held 717.9602 shares through the Belden Retirement Savings Plan.

Positive

  • None.

Negative

  • None.
Insider Bhadra Hiran
Role SVP, Strategy & Technology
Sold 1,600 shs ($192K)
Type Security Shares Price Value
Sale Common Stock Holding 1,600 $120.00 $192K
Exercise Stock Appreciation Rights 4,847 $0.00 --
Exercise Common Stock Holding 4,847 $54.89 $266K
Disposition Common Stock Holding 3,247 $120.695 $392K
holding Common Stock Holding -- -- --
Holdings After Transaction: Common Stock Holding — 26,119 shares (Direct); Stock Appreciation Rights — 0 shares (Direct); Common Stock Holding — 717.96 shares (Indirect, By 401(k) Plan)
Footnotes (1)
  1. The exercise reported was effected pursuant to a Rule 10b5-1 trading plan adopted by Mr. Bhadra on August 15, 2025. This represents the difference between the number of SARs exercised (4,847) and the number of shares issued as a result of the exercise (1,600). The number of shares to be issued under a SAR exercise is determined by multiplying the number of SARs being exercised by the difference between the FMV on the date of exercise ($120.695) and the exercise price ($54.89). Additional shares were then withheld to satisfy the Company's tax withholding obligations. The sale reported was effected pursuant to a Rule 10b5-1 trading plan adopted by Mr. Bhadra on August 15, 2025. Represents the balance of shares of Belden Inc. common stock held in the Belden Retirement Savings Plan as of the date of this filing. The original grant of stock appreciation rights became exercisable in equal portions on the first three anniversaries of the grant date.
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
X
 Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Bhadra Hiran
(Last) (First) (Middle)
C/O BELDEN INC.
1 N. BRENTWOOD BLVD., 15TH FLOOR
(Street)
SAINT LOUIS MO 63105
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
BELDEN INC. [ BDC ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
SVP, Strategy & Technology
3. Date of Earliest Transaction (Month/Day/Year)
12/04/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock Holding 12/04/2025 M(1) 4,847 A $54.89 30,966 D
Common Stock Holding 12/04/2025 D 3,247(2) D $120.695 27,719 D
Common Stock Holding 12/05/2025 S(3) 1,600 D $120 26,119 D
Common Stock Holding 717.9602(4) I By 401(k) Plan
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Appreciation Rights $54.89 12/04/2025 M(1) 4,847 (5) 03/14/2032 Common Stock 4,847 $0 0 D
Explanation of Responses:
1. The exercise reported was effected pursuant to a Rule 10b5-1 trading plan adopted by Mr. Bhadra on August 15, 2025.
2. This represents the difference between the number of SARs exercised (4,847) and the number of shares issued as a result of the exercise (1,600). The number of shares to be issued under a SAR exercise is determined by multiplying the number of SARs being exercised by the difference between the FMV on the date of exercise ($120.695) and the exercise price ($54.89). Additional shares were then withheld to satisfy the Company's tax withholding obligations.
3. The sale reported was effected pursuant to a Rule 10b5-1 trading plan adopted by Mr. Bhadra on August 15, 2025.
4. Represents the balance of shares of Belden Inc. common stock held in the Belden Retirement Savings Plan as of the date of this filing.
5. The original grant of stock appreciation rights became exercisable in equal portions on the first three anniversaries of the grant date.
/s/ Brian E. Anderson, attorney-in-fact for Hiran Bhadra 12/08/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Belden Inc. (BDC) report in this Form 4?

The filing reports that SVP, Strategy & Technology Hiran Bhadra exercised stock appreciation rights on 12/04/2025 and then sold the resulting Belden Inc. common shares on 12/05/2025.

How many Belden Inc. (BDC) shares did the executive acquire and sell?

Bhadra exercised stock appreciation rights covering 4,847 shares at an exercise price of $54.89. After tax-related share withholding, 1,600 shares were issued and then sold at $120 per share on 12/05/2025.

What were the key prices involved in the Belden Inc. (BDC) insider transactions?

The stock appreciation rights had an exercise price of $54.89 per share. The fair market value used in the SAR calculation on 12/04/2025 was $120.695 per share, and the 1,600 issued shares were later sold at $120 per share on 12/05/2025.

Was the Belden Inc. (BDC) insider trading under a Rule 10b5-1 plan?

Yes. The exercise and sale were effected under a Rule 10b5-1 trading plan adopted by Hiran Bhadra on August 15, 2025, as stated in the explanation of responses.

How many Belden Inc. (BDC) shares does the executive own after these transactions?

Following the reported transactions, Bhadra beneficially owned 26,119 Belden common shares directly and 717.9602 additional shares indirectly through the Belden Retirement Savings Plan.

What derivative security was involved in the Belden Inc. (BDC) Form 4 filing?

The filing involves stock appreciation rights with an exercise price of $54.89 per share, originally exercisable in portions through 03/14/2032. After exercising 4,847 SARs in this report, the number of such derivative securities beneficially owned was 0.