STAG Industrial director reports grant of 3,369 LTIP units

STAG Industrial, Inc. reported that one of its directors received a grant of 3,369 long-term incentive plan units ("LTIP Units") on January 8, 2026 under the company’s 2011 Equity Incentive Plan.

Rhea-AI Filing Summary

STAG Industrial, Inc. reported that one of its directors received a grant of 3,369 long-term incentive plan units ("LTIP Units") on January 8, 2026 under the company’s 2011 Equity Incentive Plan. These LTIP Units vest quarterly over a one-year period, tying the director’s compensation to the company’s longer-term performance. Over time, the LTIP Units can achieve parity with operating partnership units and then be redeemed for cash equal to the market value of one share of STAG common stock or, at the company’s election, for one share of common stock per unit. Following this grant, the director beneficially owned 8,956 derivative securities related to STAG common stock.

FAQ

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What insider transaction did STAG (STAG) report in this Form 4?

STAG Industrial, Inc. reported that a director received a grant of 3,369 long-term incentive plan units (LTIP Units) on January 8, 2026 under its 2011 Equity Incentive Plan.

How do the STAG (STAG) LTIP Units granted to the director vest?

The 3,369 LTIP Units granted to the director vest on a quarterly basis over a one-year period, aligning compensation with continued service over that time.

What can the STAG Industrial LTIP Units be converted into over time?

Over time, the LTIP Units can achieve full parity with operating partnership units (OP Units). Non-forfeitable LTIP Units may then be converted into OP Units and redeemed for cash equal to the market value of one STAG common share or, at the company’s election, for one share of common stock per unit.

Do the STAG (STAG) LTIP Units reported in this filing have an expiration date?

No. The filing states that the LTIP Units do not have an expiration date, meaning they can remain outstanding as long as the other plan conditions are satisfied.

How many derivative securities did the STAG director own after this LTIP grant?

After the reported transaction, the director beneficially owned 8,956 derivative securities related to STAG Industrial, Inc. common stock.

Is the STAG Industrial director considered a 10% owner in this Form 4?

No. The relationship box indicates the reporting person is a Director, and the 10% Owner box is not marked.

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Accepted by SEC EDGAR 01/12/2026 - 04:52 PM Learn about SEC filing dates

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
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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).

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^*

Wilbon Vicki Lundy

(Last) (First) (Middle)

C/O STAG INDUSTRIAL, INC.

ONE FEDERAL STREET, 23RD FLOOR

(Street)

BOSTON MA 02110

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
STAG Industrial, Inc. [ STAG ]

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)
01/08/2026

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

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
LTIP Units(1)	(1)(2)	01/08/2026		A		3,369		(1)(2)	(2)	Common Stock, par value $0.01 per share	3,369	(1)(2)	8,956	D

Explanation of Responses:

1. The long-term incentive plan units ("LTIP Units") of STAG Industrial Operating Partnership, L.P., a Delaware limited partnership ("Operating Partnership"), of which STAG Industrial, Inc., a Maryland corporation (the "Issuer"), is the sole member of the general partner, were granted to the reporting person on January 8, 2026 pursuant to the Issuer's 2011 Equity Incentive Plan, as amended. The LTIP Units vest on a quarterly basis over a one-year period.

2. Over time, the LTIP Units can achieve full parity with common units of limited partnership of the Operating Partnership ("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.

	/s/ Jeffrey M. Sullivan, Attorney-in-Fact	01/12/2026
	** 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.
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