Broadstone Net Lease (BNL) SVP reports restricted stock grant and tax withholding

Rhea-AI Filing Summary

Broadstone Net Lease, Inc. executive William D. Garner, SVP of Acquisitions, reported routine equity compensation activity. On March 2, 2026, he had 4,478 shares of common stock withheld by the company at $19.39 per share to cover tax obligations tied to vesting awards.

That same day, he received a grant of 9,312 shares of restricted stock at no cost under Broadstone Net Lease’s 2020 Omnibus Equity and Incentive Plan. Following these transactions, he beneficially owned 84,842 common shares, which the footnotes state include 62,103 unvested restricted shares that vest in equal installments over four years starting from February 28, 2026.

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

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

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^*

Garner William D.

(Last) (First) (Middle)

207 HIGH POINT DRIVE, SUITE 300

(Street)

VICTOR NY 14564

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Broadstone Net Lease, Inc. [ BNL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP, Acquisitions

3. Date of Earliest Transaction (Month/Day/Year)
03/02/2026

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	03/02/2026		F		4,478(1)	D	$19.39	75,530(2)	D
Common Stock	03/02/2026		A		9,312(3)	A	$0	84,842(4)	D

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

Explanation of Responses:

1. 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.

2. This amount includes 52,791 shares of unvested restricted stock.

3. Reflects shares of restricted stock awarded to the Reporting Person on March 2, 2026, pursuant to the Broadstone Net Lease, Inc. 2020 Omnibus Equity and Incentive Plan. Such shares of restricted stock vest ratably on or about each of the first, second, third, and fourth anniversaries of February 28, 2026.

4. This amount includes 62,103 shares of unvested restricted stock.

Remarks:

	/s/ John D. Callan, Jr., as Attorney-in-Fact	03/04/2026
	** 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.

FAQ

What insider transactions did BNL executive William D. Garner report?

William D. Garner reported a tax-related share withholding and a new restricted stock grant. On March 2, 2026, 4,478 shares were withheld to cover taxes and 9,312 restricted shares were awarded under Broadstone Net Lease’s 2020 Omnibus Equity and Incentive Plan.

Did William D. Garner buy or sell Broadstone Net Lease (BNL) stock on the open market?

No open-market trades were reported. The Form 4 shows 4,478 shares withheld to satisfy tax obligations and 9,312 shares granted as restricted stock. These are equity compensation and tax events, not discretionary market purchases or sales of Broadstone Net Lease stock.

How many Broadstone Net Lease (BNL) shares does William D. Garner own after the transactions?

After the reported transactions, William D. Garner beneficially owned 84,842 Broadstone Net Lease common shares. Footnotes explain this total includes 62,103 unvested restricted shares, which are still subject to vesting conditions over a four-year schedule starting in 2026.

What was the purpose of the 4,478 BNL shares withheld from William D. Garner?

The 4,478 Broadstone Net Lease shares were withheld to cover tax obligations. This withholding occurred in connection with the vesting of previously awarded shares under the company’s 2020 Omnibus Equity and Incentive Plan and is coded as a tax-withholding disposition.

What are the terms of the 9,312 restricted BNL shares granted to William D. Garner?

The 9,312 restricted shares were granted under Broadstone Net Lease’s 2020 Omnibus Equity and Incentive Plan. According to the footnotes, these restricted shares vest ratably on or about each of the first four anniversaries of February 28, 2026, subject to vesting conditions.

Is the Form 4 for Broadstone Net Lease (BNL) a sign of unusual insider activity?

The filing reflects routine compensation-related activity rather than unusual trading. It records a restricted stock grant of 9,312 shares and 4,478 shares withheld for taxes. No open-market insider buying or selling of Broadstone Net Lease shares is reported in this Form 4.