Global Net Lease (GNL) director granted shares in lieu of cash fees

Rhea-AI Filing Summary

Global Net Lease, Inc. director Leslie D. Michelson reported receiving shares of common stock as board compensation. On 10/01/2025, the director acquired 3,697 shares at $8.19 per share, and on 01/01/2026 acquired 3,052 shares at $8.60 per share, both under the company’s 2025 Omnibus Incentive Compensation Plan.

These grants represent portions of the director’s annual retainer for service on the Board and certain committees, which the director elected to receive in stock instead of cash. Following the latest grant, the director directly owned 111,027 shares of Global Net Lease common stock.

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^*

MICHELSON LESLIE D

(Last) (First) (Middle)

C/O GLOBAL NET LEASE, INC.

650 FIFTH AVE., 30TH FLOOR

(Street)

NEW YORK NY 10019

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Global Net Lease, Inc. [ GNL ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
10/01/2025

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	10/01/2025		A		3,697(1)	A	$8.19	107,975	D
Common Stock	01/01/2026		A		3,052(1)	A	$8.6	111,027	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. Representing common stock issued pursuant to Global Net Lease, Inc.'s (the "Company") 2025 Omnibus Incentive Compensation Plan, representing a portion of the reporting person's annual retainer for service on the Company's Board of Directors and certain of its committees, which the reporting person elected to receive in shares of the Company's common stock in lieu of cash.

	/s/ Christopher J. Masterson, Attorney-in-Fact	01/30/2026
	** 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).
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FAQ

Who is the insider in Global Net Lease (GNL)'s latest Form 4 filing?

The insider is Leslie D. Michelson, a director of Global Net Lease, Inc. The filing reports his receipt of common stock as part of his annual retainer for serving on the company’s Board of Directors and certain committees, under the 2025 Omnibus Incentive Compensation Plan.

What transactions did Leslie D. Michelson report for GNL stock?

Leslie D. Michelson reported two stock acquisitions of Global Net Lease common shares. He received 3,697 shares on 10/01/2025 at $8.19 per share and 3,052 shares on 01/01/2026 at $8.60 per share, both as equity compensation rather than cash fees.

How many Global Net Lease shares does the director own after these grants?

After the reported transactions, Leslie D. Michelson directly owned 111,027 shares of Global Net Lease common stock. This figure reflects his holdings following the 3,052-share grant dated 01/01/2026 that was issued as part of his director compensation arrangement.

What is the purpose of the Global Net Lease 2025 Omnibus Incentive Compensation Plan?

The 2025 Omnibus Incentive Compensation Plan provides equity-based compensation to participants, including directors. In this case, it was used to issue common stock representing a portion of Leslie D. Michelson’s annual retainer, which he elected to receive in shares of common stock instead of cash fees.

Were the Global Net Lease shares acquired on the open market or as compensation?

The shares were issued as compensation, not bought on the open market. The Form 4 states they were common stock issued under Global Net Lease’s 2025 Omnibus Incentive Compensation Plan as part of the director’s annual retainer, taken in stock instead of cash.

Is Leslie D. Michelson’s ownership in Global Net Lease direct or indirect?

Leslie D. Michelson’s reported holdings are direct ownership of Global Net Lease common stock. The Form 4 lists the ownership form as “D” (direct) for the reported transactions, and no footnote indicates that the shares are held through a separate entity or trust.