<SEC-DOCUMENT>0001179110-21-000516.txt : 20210111
<SEC-HEADER>0001179110-21-000516.hdr.sgml : 20210111
<ACCEPTANCE-DATETIME>20210111191618
ACCESSION NUMBER:		0001179110-21-000516
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20210107
FILED AS OF DATE:		20210111
DATE AS OF CHANGE:		20210111

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Paul Jaclyn
		CENTRAL INDEX KEY:			0001803985

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34907
		FILM NUMBER:		21522060

	MAIL ADDRESS:	
		STREET 1:		ONE FEDERAL STREET
		STREET 2:		23RD FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			STAG Industrial, Inc.
		CENTRAL INDEX KEY:			0001479094
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				273099608
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		ONE FEDERAL STREET
		STREET 2:		23RD FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110
		BUSINESS PHONE:		(617)574-4777

	MAIL ADDRESS:	
		STREET 1:		ONE FEDERAL STREET
		STREET 2:		23RD FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	STAG Industrial REIT, Inc.
		DATE OF NAME CHANGE:	20091218
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 4 -
<TEXT>
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    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2021-01-07</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001479094</issuerCik>
        <issuerName>STAG Industrial, Inc.</issuerName>
        <issuerTradingSymbol>STAG</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001803985</rptOwnerCik>
            <rptOwnerName>Paul Jaclyn</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O STAG INDUSTRIAL, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>ONE FEDERAL STREET, FLOOR 23</rptOwnerStreet2>
            <rptOwnerCity>BOSTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02110</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chief Accounting Officer</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

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                <value>LTIP Units</value>
                <footnoteId id="F1"/>
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            <conversionOrExercisePrice>
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                <footnoteId id="F2"/>
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            </transactionDate>
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                <transactionFormType>4</transactionFormType>
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            <transactionAmounts>
                <transactionShares>
                    <value>4999</value>
                </transactionShares>
                <transactionPricePerShare>
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                </directOrIndirectOwnership>
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        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>LTIP Units</value>
                <footnoteId id="F3"/>
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                <footnoteId id="F3"/>
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            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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                <transactionShares>
                    <value>5785</value>
                    <footnoteId id="F4"/>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F2"/>
                    <footnoteId id="F3"/>
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                <underlyingSecurityTitle>
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                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>17276</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The long-term incentive plan units (&quot;LTIP Units&quot;) of STAG Industrial Operating Partnership, L.P., a Delaware limited partnership (the &quot;Operating Partnership&quot;), of which STAG Industrial, Inc., a Maryland corporation (the &quot;Issuer&quot;), is the sole member of the general partner, were granted to the reporting person on January 7, 2021 pursuant to the Issuer's 2011 Equity Incentive Plan, as amended (the &quot;Equity Incentive Plan&quot;). The LTIP Units vest on a quarterly basis over a four-year period.</footnote>
        <footnote id="F2">Represents LTIP Units granted to the reporting person pursuant to the Equity Incentive Plan. Over time, the LTIP Units can achieve full parity with common units of limited partnership of the Operating Partnership (&quot;OP Units&quot;) 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.</footnote>
        <footnote id="F3">The LTIP Units were granted to the reporting person by the Board of Directors of the Issuer (the &quot;Board&quot;). The LTIP Units were earned by the reporting person based on a performance unit award made in January 2018 pursuant to the Equity Incentive Plan. The reporting person earned 140% of the target number of performance units over a three-year performance period. The Compensation Committee of the Board determined the number of LTIP Units earned on January 7, 2021.  3,302 LTIP Units are fully vested as of the issuance date, and 2,483 LTIP Units are subject to forfeiture until December 31, 2021. For more information on the terms of the performance unit award, please see the Issuer's definitive proxy statement filed with the SEC.</footnote>
        <footnote id="F4">Represents the number of LTIP Units earned as of December 31, 2020 under the performance unit award made in January 2018.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Jeffrey M. Sullivan, Attorney-in-Fact</signatureName>
        <signatureDate>2021-01-11</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
