Director at STAG (NYSE: STAG) receives 559-share equity grant in lieu of fees

Rhea-AI Filing Summary

Dilley Michelle reported acquisition or exercise transactions in this Form 4 filing.

STAG Industrial, Inc. director Michelle Dilley received 559 shares of common stock as a grant, valued at $36.86 per share. These shares were issued under STAG Industrial, Inc.'s 2011 Equity Incentive Plan in lieu of quarterly director fees of $20,625, bringing her direct holdings to 14,023 shares.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Dilley Michelle

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	559	$36.86	$21K

Holdings After Transaction: Common Stock — 14,023 shares (Direct)

Footnotes (1)

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Key Figures

Shares granted: 559 shares Grant valuation price: $36.86 per share Quarterly fees converted: $20,625 +1 more

4 metrics

Shares granted 559 shares Common Stock grant on April 15, 2026

Grant valuation price $36.86 per share Average closing price over 10 days ended April 10, 2026

Quarterly fees converted $20,625 Director fees paid in stock instead of cash

Post-transaction holdings 14,023 shares Director’s direct ownership after the grant

Key Terms

2011 Equity Incentive Plan, quarterly fees, average closing price, grant, award, or other acquisition

4 terms

2011 Equity Incentive Plan financial

"pursuant to STAG Industrial, Inc.'s 2011 Equity Incentive Plan, as amended"

quarterly fees financial

"in lieu of quarterly fees of $20,625 for the reporting person's services"

average closing price financial

"valued at the average closing price of the shares for the 10-day period"

grant, award, or other acquisition financial

"transaction code description: Grant, award, or other acquisition"

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).

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^*

Dilley Michelle

(Last) (First) (Middle)

C/O STAG INDUSTRIAL, INC.

ONE FEDERAL STREET, FLOOR 23

(Street)

BOSTON MASSACHUSETTS 02110

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/15/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	04/15/2026		A		559	A	$36.86(1)	14,023	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. The shares were issued to the reporting person pursuant to STAG Industrial, Inc.'s 2011 Equity Incentive Plan, as amended, in lieu of quarterly fees of $20,625 for the reporting person's services as a director. The shares were valued at the average closing price of the shares for the 10-day period ended April 10, 2026, which was $36.86.

	/s/ Jeffrey M. Sullivan, Attorney-in-Fact	04/17/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What did STAG (STAG) director Michelle Dilley report in this Form 4?

Director Michelle Dilley reported receiving 559 shares of STAG common stock as a grant. The shares were issued under the 2011 Equity Incentive Plan in lieu of quarterly director fees and are treated as compensation rather than an open-market purchase or sale.

At what value were the new STAG (STAG) shares granted to Michelle Dilley?

The 559 shares granted to Michelle Dilley were valued at $36.86 per share. This value reflects the average closing price over the 10-day period ended April 10, 2026, and was used to convert her $20,625 quarterly director fees into stock.

How many STAG (STAG) shares does Michelle Dilley hold after this transaction?

After this grant, Michelle Dilley directly holds 14,023 shares of STAG common stock. This total includes the newly issued 559 shares received as compensation for board service under the company’s 2011 Equity Incentive Plan, as amended, replacing a cash fee payment.

Was the STAG (STAG) Form 4 transaction a market buy or sell?

The Form 4 does not show a market buy or sell; it reports an acquisition coded as a grant. Shares were issued to Michelle Dilley as stock compensation in lieu of cash director fees, so no open-market trading activity occurred in this transaction.

What plan governed the STAG (STAG) share grant to director Michelle Dilley?

The share grant to Michelle Dilley was made under STAG Industrial, Inc.'s 2011 Equity Incentive Plan, as amended. This plan allows the company to issue stock in place of cash fees, aligning director compensation with shareholder interests through equity awards.

What cash compensation did the STAG (STAG) share grant replace for Michelle Dilley?

The grant of 559 shares replaced quarterly director fees of $20,625 for Michelle Dilley. Instead of receiving this amount in cash, she accepted common stock valued using the 10-day average closing price, converting her service fees into an equity-based award.