---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-033308"
form_type: "8-K"
ticker: "STAG"
cik: "0001479094"
company_name: "STAG Industrial, Inc."
filed_at: "2023-03-16T23:59:59+00:00"
generated_at: "2026-06-18T00:26:12.309365+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Butcher to step down as Executive Chairman June 30, 2023; Kimball appointed EVP Real Estate Operations

## Summary
- Benjamin Butcher's role as Executive Chairman ends June 30, 2023; expected to continue as non-management director if re-elected.
- Larry Guillemette, current Lead Independent Director, expected to become Chairman of the Board after annual meeting on April 25, 2023.
- Steven Kimball appointed EVP – Real Estate Operations; joins from PGIM Real Estate, previously at Prologis for 26 years.
- Kimball's employment agreement includes base salary $375,000, cash target bonus $375,000 for 2023, and equity grants worth ~$1.24M.
- Severance for Kimball includes 2x base+bonus, 18 months health coverage, and accelerated equity vesting; 12-month non-compete clause.

## SEC filing metadata
- accession: 0001104659-23-033308
- form_type: 8-K
- ticker: STAG
- cik: 0001479094
- company_name: STAG Industrial, Inc.
- filed_at: 2023-03-16T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1479094/000110465923033308/0001104659-23-033308-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1479094/000110465923033308/tm239802d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-033308
- JSON: https://secwatch.observer/filing/0001104659-23-033308.json
- Plain text: https://secwatch.observer/filing/0001104659-23-033308.txt

## Key facts
- Executive change
  Benjamin S. Butcher changed role as non-management director at STAG Industrial, Inc..
  - Action: not renewed
  - Role: non-management director
  source text: On March 16, 2023, in connection with the successful completion of the Company’s management succession plan, the Board provided a notice of non-renewal to Mr. Butcher, whose role as Executive Chairman will end on June 30, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1479094/000110465923033308/0001104659-23-033308-index.htm
- Executive change
  Steven T. Kimball was appointed as Executive Vice President – Real Estate Operations at STAG Industrial, Inc..
  - Action: appointed
  - Role: Executive Vice President – Real Estate Operations
  source text: On March 16, 2023, the Company announced that the Board appointed Steven T. Kimball as Executive Vice President – Real Estate Operations of the Company, effective when he commences employment (expected this spring).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1479094/000110465923033308/0001104659-23-033308-index.htm
- Executive change
  Larry T. Guillemette changed role as Chairman of the Board at STAG Industrial, Inc..
  - Action: named Chairman
  - Role: Chairman of the Board
  source text: the Board expects that (i) Mr. Butcher will continue to serve on the Board as a non-management director, effective as of July 1, 2023 and (ii) Larry T. Guillemette, the Company’s current Lead Independent Director, will become the Chairman of the Board.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1479094/000110465923033308/0001104659-23-033308-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.