O'Brien Jennie 4

What Happened
Jennie O'Brien, SVP and Chief Accounting Officer of Broadstone Net Lease (BNL), was issued 9,917 shares on March 12, 2026 pursuant to the payout of three‑year performance-based awards. On the same date 3,576 shares were disposed (withheld) to satisfy tax withholding obligations at $18.97 per share, a total withholding value of $67,837.

Key Details

• Transaction date: March 12, 2026 (reported on Form 4 filed March 16, 2026). Filing appears timely.
• Awarded: 9,917 shares (transaction code A, granted/issued due to performance). No purchase price ($0) reported for the award.
• Withheld/disposed: 3,576 shares at $18.97 per share, amounting to $67,837 (transaction code F — shares withheld to cover tax obligations).
• Holdings after transaction: the filing does not state a single total for shares owned following these entries; it notes the reporting person’s holdings include 50,077 unvested restricted shares (footnote F2).
• Notable footnotes:
  • F1: Shares issued upon achievement of specified criteria for the three‑year performance period ending Feb 28, 2026 (awards granted Feb 28, 2023).
  • F2: The reported holdings include 50,077 unvested restricted shares.
  • F3: The 3,576‑share disposition represents shares withheld by the issuer to cover the reporting person’s tax obligations under the 2020 Omnibus Equity and Incentive Plan.

Context
The primary event is a performance-based award vesting (an issuance of shares), while the “sale” is a routine tax‑withholding disposition — a common administrative step that doesn’t necessarily indicate insider sentiment. Transaction code A = award/grant; code F = tax withholding.