STAG Industrial, Inc. 10-Q

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds Recent Sales of Unregistered Equity Securities During the quarter ended March 31, 2023, the Operating Partnership issued 43,834 common units in the Operating Partnership upon exchange of outstanding long term incentive plan units issued pursuant to the STAG Industrial, Inc. 2011 Equity Incentive Plan, as amended and restated (the “2011 Plan”). Subject to certain restrictions, common units in the Operating Partnership may be redeemed for cash in an amount equal to the value of a share of common stock or, at our election, for a share of common stock on a one-for-one basis. During the quarter ended March 31, 2023, we issued 43,834 shares of common stock upon redemption of 43,834 common units in the Operating Partnership held by various limited partners. The issuance of such shares of common stock was either registered under the Securities Act or effected in reliance upon an exemption from registration provided by Section 4(a)(2) under the Securities Act and the rules and regulations promulgated thereunder. We relied on the exemption based on representations given by the holders of the common units. All other issuances of unregistered securities during the quarter ended March 31, 2023, if any, have previously been disclosed in filings with the SEC. Issuer Purchases of Equity Securities Period Total Number of Shares Purchased (1) Average Price Paid per Share (1) Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Approximate Dollar Value of Shares that May Yet be Purchased Under the Plans or Programs January 1, 2023 - January 31, 2023 25,085 $ 32.39 — $ — February 1, 2023 - February 28, 2023 — $ — — $ — March 1, 2023 - March 31, 2023 — $ — — $ — Total/weighted average 25,085 $ 32.39 — $ — (1) Reflects shares surrendered to the Company for payment of tax withholdings obligations in connection with the vesting of shares of common stock issued pursuant to the 2011 Plan. The average price paid reflects the average market value of shares withheld for tax purposes. Item 3. Defaults Upon Senior Securities None. Item 4. Mine Safety Disclosures Not applicable.