Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-05-01

Broadstone Net Lease, Inc. (BNL)

Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$6,065,001
John Moragne total, FY2025
36th
CEO pay percentile vs peers
35.25:1
CEO-to-median pay ratio
96.88%
Say-on-pay support, latest vote
Companies that benchmark against BNL
16 companies name BNL as a compensation peer

Each company listed discloses BNL in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named BNL in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
John Moragne$600,000$0$3,918,506$0$1,187,770$0$358,725$6,065,001
Chief Executive Officer and Director
Ryan Albano500,00002,020,4980874,8400210,3683,605,706
President and Chief Operating Officer
Kevin Fennell425,00001,010,2600736,1140168,0592,339,432
Executive Vice President, Chief Financial Officer and Treasurer
Michael Caruso285,0000351,2100260,0790106,0571,002,346
Senior Vice President, Underwriting and Strategy
Jennie O'Brien275,0000452,1490185,123073,816986,089
Senior Vice President, Chief Accounting Officer

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY20242025
John Moragne$6,065,001$6,613,722$4,195,587−548,721
Ryan Albano3,605,7064,311,2853,155,920−705,579
Kevin Fennell2,339,4323,172,7932,201,374−833,361
Michael Caruso1,002,3461,706,218−703,872
Jennie O'Brien986,089

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

02

Equity transactions since the proxy statement was filed

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Richard ImperialeDirector2026-05-01A4,987$0$0CommonForm 4 ↗
Laurie A. HawkesDirector2026-05-01A4,98700CommonForm 4 ↗
James H. WattersDirector2026-05-01A4,98700CommonForm 4 ↗
Jessica DuranDirector2026-05-01A4,98700CommonForm 4 ↗
David M. JacobsteinDirector2026-05-01A4,98700CommonForm 4 ↗
Joseph SaffireDirector2026-05-01A4,98700CommonForm 4 ↗
Michael A. CokeDirector2026-05-01A4,98700CommonForm 4 ↗
Laura FeliceDirector2026-05-01A4,98700CommonForm 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
John MoragneRSU2025-02-2880,744$1,360,536
Kevin FennellRSU2025-02-2820,817350,766
Michael CarusoRSU2025-02-2811,355191,332
Jennie O'BrienRSU2025-02-289,463159,452
Ryan AlbanoRSU2025-02-2841,634701,533
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
John Moragne$1,360,536$0$00.0%
Kevin Fennell350,766000.0%
Michael Caruso191,332000.0%
Jennie O'Brien159,452000.0%
Ryan Albano701,533000.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Michael CarusoPSU15,490$269,061
John MoragnePSU154,8942,690,509
Ryan AlbanoRSU41,634723,183
Jennie O'BrienRSU605,2926,160,482
Kevin FennellPSU50,248872,808
Ryan AlbanoPSU124,9022,169,548
John MoragneRSU80,7441,402,523
John MoragnePSU242,2324,207,570
John MoragneRSU200,0693,475,199
Ryan AlbanoPSU116,1702,017,873
Kevin FennellPSU62,4521,084,791
Kevin FennellPSU58,0861,008,954
John MoragneRSU22,332387,907
Ryan AlbanoRSU16,749290,930
Michael CarusoPSU15,140262,982
Jennie O'BrienPSU12,618219,175
Michael CarusoRSU11,355197,236
Michael CarusoPSU11,168193,988
Jennie O'BrienPSU8,934155,184
Michael CarusoRSU4,18772,728
John MoragnePSU4,08370,922
Jennie O'BrienPSU4537,869
Jennie O'BrienRSU28,397493,256
Kevin FennellRSU95,1941,653,520
John MoragnePSU133,9942,327,476
Kevin FennellRSU20,817361,591
Ryan AlbanoRSU109,7161,905,767
Kevin FennellRSU13,958242,450
Kevin FennellPSU87315,164
Ryan AlbanoPSU4,08370,922
Michael CarusoPSU95216,536
Ryan AlbanoPSU100,4961,745,616
Michael CarusoRSU58,7301,020,140
Jennie O'BrienRSU18,926328,745
Jennie O'BrienPSU10,328179,397
Jennie O'BrienRSU7,072122,841
05

Incentive-plan design — the Compensation Discussion & Analysis

Our executive compensation program is designed to attract and retain the leadership needed for the success of our business. The pillars of the Company's philosophy include: Competitive in the Marketplace, Alignment of Stockholder Interests, Balance of Elements, Pay-for-performance Culture.

CEO STI target (% of salary)120%
CEO LTI target (% of salary)
Independent consultantFerguson Partners Consulting, L.P.
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-04-30144,609,7974,657,397496,53296.88%Passed
20252025-05-01127,606,91512,996,251235,18090.76%Passed
20242024-05-02131,078,6115,792,938316,75295.77%Passed
20232023-05-04129,913,8987,938,154434,81694.24%Passed
20222022-05-05105,111,2311,934,270447,02798.19%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-04-3096.88%a
20252025-05-0190.76%b
20242024-05-0295.77%c

a. Approved under the standard stated in the filing — “For purposes of this non-binding advisory vote, any shares not voted (whether by abstention, broker non-vote, or otherwise) will not be counted as a vote cast and will have no impact on the result of the vote, although abstentions will count toward the presence of a quorum.”.

b. Approved under the standard stated in the filing — “For purposes of this non-binding advisory vote, any shares not voted (whether by abstention, broker non-vote, or otherwise) will not be counted as a vote cast and will have no impact on the result of the vote, although abstentions will count toward the presence of a quorum.”.

c. Approved under the standard stated in the filing — “For purposes of this non-binding advisory vote, any shares not voted (whether by abstention, broker non-vote, or otherwise) will not be counted as a vote cast and will have no impact on the result of the vote, although abstentions will count toward the presence of a quorum.”.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)35.25 : 1
CEO total compensation$6,065,001
Median employee compensation$172,073
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Laurie A. HawkesIndependent · Board Chair · Compensation$137,500$100,000$0$0$0$237,500
Jessica DuranIndependent · Audit · Compensation (Chair)80,529100,000000180,529
Laura FeliceIndependent · Audit · Nominating and Corporate Governance (Chair)80,529100,000000180,529
Michael A. CokeIndependent · Audit (Chair)80,000100,000000180,000
James H. WattersIndependent · Compensation · Nominating and Corporate Governance79,471100,000000179,471
David M. JacobsteinIndependent · Compensation · Nominating and Corporate Governance79,471100,000000179,471
Richard ImperialeIndependent · Audit · Nominating and Corporate Governance · Newly elected44,901100,000000144,901
Joseph SaffireIndependent · Compensation · Newly elected40,862100,000000140,862
Denise Brooks-WilliamsIndependent · Departed during FY40,24000040,240
Shekar NarasimhanIndependent · Departed during FY40,24000040,240
John D. MoragneEmployee director00000
09

Board fee structure and ownership guideline

Annual cash retainer$60,000
Annual equity retainer$100,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)10,000 / 7,500 / 7,500
Stock ownership guideline
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$703,743
Equity awards (grant-date value)$800,000
All other compensation$0
Total cost of the board$1,503,743

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies Broadstone Net Lease, Inc. names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Broadstone Net Lease, Inc..

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Agree Realty Corporation2025Joel Agree$921,808$6,923,608$0$3,053,253$10,957,876
2EPR Properties2025Gregory Silvers933,4007,266,1550010,901,683
3Easterly Government Properties, Inc.2025Darrell Crate825,0008,508,5190930,00010,277,519
4CareTrust REIT, Inc.2025David Sedgwick1,000,0001,242,02207,750,00010,002,522
5NNN REIT, Inc.2025Stephen Horn975,0006,664,54402,069,4379,730,926
6Essential Properties Realty Trust, Inc.2025Peter Mavoides800,0006,853,00001,950,0009,634,000
7EastGroup Properties, Inc.2025Marshall Loeb885,0005,896,73802,340,0299,437,394
8First Industrial Realty Trust, Inc.2025Peter Baccile935,0005,212,1992,113,0008,288,366
9LXP Industrial Trust2025T. Wilson Eglin840,0004,044,98201,442,4386,645,384
10Broadstone Net Lease, Inc.2025John Moragne600,0003,918,50601,187,7706,065,001
11STAG Industrial, Inc.2025William Crooker800,0003,599,97001,427,9155,881,152
12Four Corners Property Trust, Inc.2025William Lenehan724,6053,705,794005,701,486
13Sila Realty Trust, Inc.2024Michael Seton825,0002,275,00001,949,0635,510,455
14LTC Properties, Inc.2025Pamela Shelley-Kessler650,0002,250,00001,117,1884,027,538
15Plymouth Industrial REIT, Inc.2024Jeffrey Witherell643,7501,799,9800620,0003,108,503

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Broadstone Net Lease, Inc.198%PSU 60 · RSU 40Yes — Relative Total Shareholder Return vs rTSR Peer GroupFerguson Partners Consulting, L.P.
Agree Realty Corporation329%PSU 70 · RSU 30NoMeridian
CareTrust REIT, Inc.310%PSU 50 · RSU 50Yes — Relative TSRPearl Meyer
Easterly Government Properties, Inc.78%LTIP Units 100Yes — Absolute TSRFTI Consulting
EastGroup Properties, Inc.137%PSU 70 · RSU 30Yes — TSR Compared to Nareit Equity Index ConstituentsFerguson Partners Consulting L.P.
EPR Properties276.2%PSU 70 · RSU 30Yes — TSR vs. TSR of Triple-Net Peer GroupFerguson Partners Consulting L.P.
Essential Properties Realty Trust, Inc.163%LTIP Units 100Yes — Relative TSRFerguson Partners Consulting L.P.
First Industrial Realty Trust, Inc.113%PSU 65 · LTIP Units 35YesFerguson Partners Consulting, L.P.
Four Corners Property Trust, Inc.125%PSU 50 · RSU 50Yes — Absolute Total Stockholder Return (TSR)Semler Brossy
LTC Properties, Inc.137.5%RSU 50 · PSU 50Yes — Absolute TSRFrederic W. Cook & Co., Inc.
LXP Industrial Trustnot disclosedPSU 60 · RSU 40Yes — Relative TSR compared to MSCI US REIT IndexFerguson Partners Consulting, L.P.
NNN REIT, Inc.212.25%PSU 70 · RSU 30Yes — Three-year relative TSR compared to FTSE Nareit All Equity REITs IndexPearl Meyer
Plymouth Industrial REIT, Inc.77.5%RSU 50 · PSU 50Yes — 3-Year Relative TSR vs. MSCI US REIT IndexFerguson Partners Consulting L.P.
Sila Realty Trust, Inc.175%PSU 50 · RSU 50NoFPC
STAG Industrial, Inc.178%PSU 65 · LTIP Units 35Yes — Relative TSR vs Industry Peer GroupFerguson Partners Consulting

Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.

FAQ

Frequently asked questions

Who was the highest-paid executive at Broadstone Net Lease, Inc. in fiscal 2025?
The highest-paid executive at Broadstone Net Lease, Inc. in fiscal 2025 was John Moragne, Chief Executive Officer and Director, with total compensation of $6,065,001.
How does Broadstone Net Lease, Inc.'s chief executive pay compare to its disclosed peer group?
The chief executive's pay falls within the 36th percentile of the disclosed peer group.
What is Broadstone Net Lease, Inc.'s CEO-to-median employee pay ratio?
The CEO-to-median employee pay ratio was 35.25:1.
How did shareholders vote on Broadstone Net Lease, Inc.'s executive compensation?
Shareholders voted 96.88% in support of the executive compensation plan.
How much does Broadstone Net Lease, Inc. spend in total on board compensation for fiscal 2025?
Total board compensation for fiscal 2025 was $1,503,743.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, John MoragneDEF 14A2026-03-200001424182-26-000025Section “Summary Compensation Table” · page 43. As printed: 6,065,001. Filing ↗machine: span 1494368–1494377
2Section 01, Ryan AlbanoDEF 14A2026-03-200001424182-26-000025Section “Summary Compensation Table” · page 43. As printed: 3,605,706. Filing ↗machine: span 1509209–1509218
3Section 01, Kevin FennellDEF 14A2026-03-200001424182-26-000025Section “Summary Compensation Table” · page 43. As printed: 2,339,432. Filing ↗machine: span 1524488–1524497
4Section 01, Michael CarusoDEF 14A2026-03-200001424182-26-000025Section “Summary Compensation Table” · page 43. As printed: 1,002,346. Filing ↗machine: span 1539285–1539294
5Section 01, Jennie O'BrienDEF 14A2026-03-200001424182-26-000025Section “Summary Compensation Table” · page 43. As printed: 986,089. Filing ↗machine: span 1549884–1549891
6Section 03, John Moragne RSUDEF 14A2026-03-200001424182-26-000025Section “Grant of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t100 · r3 · c9 · span 1589176–1589185
7Section 03, Kevin Fennell RSUDEF 14A2026-03-200001424182-26-000025Section “Grant of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t100 · r9 · c9 · span 1615259–1615266
8Section 03, Michael Caruso RSUDEF 14A2026-03-200001424182-26-000025Section “Grant of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t100 · r12 · c9 · span 1628704–1628711
9Section 03, Jennie O'Brien RSUDEF 14A2026-03-200001424182-26-000025Section “Grant of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t100 · r15 · c9 · span 1641609–1641616
10Section 03, Ryan Albano RSUDEF 14A2026-03-200001424182-26-000025Section “Grant of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t100 · r6 · c9 · span 1602349–1602356
11Section 07, pay ratioDEF 14A2026-03-200001424182-26-000025Section “CEO Pay Ratio”. As printed: 35.25 : 1. Filing ↗machine: span 2214703–2214710
12Section 08, Laurie A. HawkesDEF 14A2026-03-200001424182-26-000025Section “Director Compensation”. As printed: 237,500. Filing ↗machine: t51 · r7 · c5 · span 894523–894530
13Section 08, Jessica DuranDEF 14A2026-03-200001424182-26-000025Section “Director Compensation”. As printed: 180,529. Filing ↗machine: t51 · r5 · c5 · span 888692–888699
14Section 08, Laura FeliceDEF 14A2026-03-200001424182-26-000025Section “Director Compensation”. As printed: 180,529. Filing ↗machine: t51 · r6 · c5 · span 891684–891691
15Section 08, Michael A. CokeDEF 14A2026-03-200001424182-26-000025Section “Director Compensation”. As printed: 180,000. Filing ↗machine: t51 · r4 · c5 · span 885862–885869
16Section 08, James H. WattersDEF 14A2026-03-200001424182-26-000025Section “Director Compensation”. As printed: 179,471. Filing ↗machine: t51 · r12 · c5 · span 909197–909204
17Section 08, David M. JacobsteinDEF 14A2026-03-200001424182-26-000025Section “Director Compensation”. As printed: 179,471. Filing ↗machine: t51 · r9 · c5 · span 900366–900373
18Section 08, Richard ImperialeDEF 14A2026-03-200001424182-26-000025Section “Director Compensation”. As printed: 144,901. Filing ↗machine: t51 · r8 · c5 · span 897526–897533
19Section 08, Joseph SaffireDEF 14A2026-03-200001424182-26-000025Section “Director Compensation”. As printed: 140,862. Filing ↗machine: t51 · r11 · c5 · span 906198–906205
20Section 08, Denise Brooks-WilliamsDEF 14A2026-03-200001424182-26-000025Section “Director Compensation”. As printed: 40,240. Filing ↗machine: t51 · r3 · c1 · span 881436–881442
21Section 08, Shekar NarasimhanDEF 14A2026-03-200001424182-26-000025Section “Director Compensation”. As printed: 40,240. Filing ↗machine: t51 · r10 · c1 · span 901815–901821
22Section 08, John D. MoragneDEF 14A2026-03-200001424182-26-000025Section “Director Compensation”. As printed: 0. Filing ↗machine: t51 · r2 · c5 · span 879564–879566
23Section 02, Richard Imperiale 2026-05-01Form 42026-05-010001311618-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
24Section 02, Laurie A. Hawkes 2026-05-01Form 42026-05-010001575253-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
25Section 02, James H. Watters 2026-05-01Form 42026-05-010001709565-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
26Section 02, Jessica Duran 2026-05-01Form 42026-05-010001963661-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
27Section 02, David M. Jacobstein 2026-05-01Form 42026-05-010001191856-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
28Section 02, Joseph Saffire 2026-05-01Form 42026-05-010001607364-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
29Section 02, Michael A. Coke 2026-05-01Form 42026-05-010001213051-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
30Section 02, Laura Felice 2026-05-01Form 42026-05-010001743504-26-000005Insider equity transaction reported since the proxy statement. Filing ↗
31Section 06, 2026 voteForm 8-K2026-05-010001424182-26-000039Item 5.07 · say-on-pay result. As reported: 96.88% (votes for as printed: 144,609,797.08). Filing ↗
32Section 06, 2025 voteForm 8-K2025-05-020000950170-25-062754Item 5.07 · say-on-pay result. As reported: 90.76% (votes for as printed: 127,606,915.00). Filing ↗
33Section 06, 2024 voteForm 8-K2024-05-060000950170-24-053552Item 5.07 · say-on-pay result. As reported: 95.77% (votes for as printed: 131,078,611.49). Filing ↗
34Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
35Section 03b vehicle mix (computed)ComputedcomputedRSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
36Section 09b board cost (computed)ComputedcomputedCash 703,743 + equity 800,000 + all other 0 = 1,503,743, summed across the director compensation table rows.machine: formula: Σ = 1,503,743
37Agree Realty Corporation, Section 10b CEO totalDEF 14A2026-04-020000917251-26-000031CEO total compensation as printed in Agree Realty Corporation's own proxy. As printed: 10,957,876. Filing ↗machine: t90 · r2 · c21 · span 720296–720306
38EPR Properties, Section 10b CEO totalDEF 14A2026-03-260001045450-26-000016CEO total compensation as printed in EPR Properties's own proxy. As printed: 10,901,683. Filing ↗machine: r3 · c45 · span 794198–794208
39Easterly Government Properties, Inc., Section 10b CEO totalDEF 14A2026-03-230001622194-26-000008CEO total compensation as printed in Easterly Government Properties, Inc.'s own proxy. As printed: 10,277,519. Filing ↗machine: t32 · r4 · c14 · span 1314670–1314680
40CareTrust REIT, Inc., Section 10b CEO totalDEF 14A2026-03-130001628280-26-017386CEO total compensation as printed in CareTrust REIT, Inc.'s own proxy. As printed: 10,002,522. Filing ↗machine: r3 · c21 · span 586779–586789
41NNN REIT, Inc., Section 10b CEO totalDEF 14A2026-03-230001193125-26-118585CEO total compensation as printed in NNN REIT, Inc.'s own proxy. As printed: 9,730,926. Filing ↗machine: t26 · r3 · c14 · span 998777–998786
42Essential Properties Realty Trust, Inc., Section 10b CEO totalDEF 14A2026-03-310001193125-26-134683CEO total compensation as printed in Essential Properties Realty Trust, Inc.'s own proxy. As printed: 9,634,000. Filing ↗
43EastGroup Properties, Inc., Section 10b CEO totalDEF 14A2026-04-100000049600-26-000019CEO total compensation as printed in EastGroup Properties, Inc.'s own proxy. As printed: 9,437,394. Filing ↗machine: r2 · c21 · span 1059338–1059347
44First Industrial Realty Trust, Inc., Section 10b CEO totalDEF 14A2026-03-300000921825-26-000041CEO total compensation as printed in First Industrial Realty Trust, Inc.'s own proxy. As printed: 8,288,366. Filing ↗machine: r2 · c36 · span 508347–508356
45LXP Industrial Trust, Section 10b CEO totalDEF 14A2026-04-030000910108-26-000015CEO total compensation as printed in LXP Industrial Trust's own proxy. As printed: 6,645,384. Filing ↗machine: t65 · r2 · c15 · span 653567–653576
46Broadstone Net Lease, Inc. (subject), Section 10b CEO totalDEF 14A2026-03-200001424182-26-000025CEO total compensation as printed in Broadstone Net Lease, Inc.'s own proxy. As printed: 6,065,001. Filing ↗machine: span 1494368–1494377
47STAG Industrial, Inc., Section 10b CEO totalDEF 14A2026-03-180001104659-26-031046CEO total compensation as printed in STAG Industrial, Inc.'s own proxy. As printed: 5,881,152. Filing ↗machine: span 1074440–1074449
48Four Corners Property Trust, Inc., Section 10b CEO totalDEF 14A2026-04-160001140361-26-015137CEO total compensation as printed in Four Corners Property Trust, Inc.'s own proxy. As printed: 5,701,486. Filing ↗machine: r2 · c18 · span 641840–641849
49Sila Realty Trust, Inc., Section 10b CEO totalDEF 14A2025-04-040001567925-25-000036CEO total compensation as printed in Sila Realty Trust, Inc.'s own proxy. As printed: 5,510,455. Filing ↗machine: span 1479805–1479814
50LTC Properties, Inc., Section 10b CEO totalDEF 14A2026-04-080001104659-26-040921CEO total compensation as printed in LTC Properties, Inc.'s own proxy. As printed: 4,027,538. Filing ↗machine: t203 · r7 · c20 · span 1255138–1255147
51Plymouth Industrial REIT, Inc., Section 10b CEO totalDEF 14A2025-04-280001171520-25-000158CEO total compensation as printed in Plymouth Industrial REIT, Inc.'s own proxy. As printed: 3,108,503. Filing ↗machine: r1 · c12 · span 469279–469288
52Section 10a, NNN REIT, Inc. reciprocityDEF 14A0001193125-26-118585NNN REIT, Inc.'s most recent proxy was read; its disclosed peer group does not include Broadstone Net Lease, Inc.. Filing ↗
53Section 10a, STAG Industrial, Inc. reciprocityDEF 14A0001104659-26-031046STAG Industrial, Inc. names Broadstone Net Lease, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
54Section 10a, LTC Properties, Inc. reciprocityDEF 14A0001104659-26-040921LTC Properties, Inc. names Broadstone Net Lease, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
55Section 10a, Plymouth Industrial REIT, Inc. reciprocityDEF 14A0001171520-25-000158Plymouth Industrial REIT, Inc.'s most recent proxy was read; its disclosed peer group does not include Broadstone Net Lease, Inc.. Filing ↗
56Section 10a, EPR Properties reciprocityDEF 14A0001045450-26-000016EPR Properties names Broadstone Net Lease, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
57Section 10a, First Industrial Realty Trust, Inc. reciprocityDEF 14A0000921825-26-000041First Industrial Realty Trust, Inc.'s most recent proxy was read; its disclosed peer group does not include Broadstone Net Lease, Inc.. Filing ↗
58Section 10a, LXP Industrial Trust reciprocityDEF 14A0000910108-26-000015LXP Industrial Trust names Broadstone Net Lease, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
59Section 10a, Sila Realty Trust, Inc. reciprocityDEF 14A0001567925-25-000036Sila Realty Trust, Inc. names Broadstone Net Lease, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
60Section 10a, Essential Properties Realty Trust, Inc. reciprocityDEF 14A0001193125-26-134683Essential Properties Realty Trust, Inc. names Broadstone Net Lease, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
61Section 10a, Easterly Government Properties, Inc. reciprocityDEF 14A0001622194-26-000008Easterly Government Properties, Inc.'s most recent proxy was read; its disclosed peer group does not include Broadstone Net Lease, Inc.. Filing ↗
62Section 10a, Four Corners Property Trust, Inc. reciprocityDEF 14A0001140361-26-015137Four Corners Property Trust, Inc. names Broadstone Net Lease, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
63Section 10a, Agree Realty Corporation reciprocityDEF 14A0000917251-26-000031Agree Realty Corporation names Broadstone Net Lease, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
64Section 10a, EastGroup Properties, Inc. reciprocityDEF 14A0000049600-26-000019EastGroup Properties, Inc.'s most recent proxy was read; its disclosed peer group does not include Broadstone Net Lease, Inc.. Filing ↗