July 17, 2025 · Form 4 insider transaction
Anderson Brian Edward sold 5,257 shares of Belden Inc. at $128.58 per share, a transaction worth $675.9K. The trade was recorded as disposition to the issuer and disclosed on an SEC Form 4, filed 1 day after the transaction.
This represents the difference between the number of SARs exercised (6,854) and the number of shares issued as a result of the exercise (1,597). The number of shares to be issued under a SAR exercise is determined by multiplying the number of SARs being exercised by the difference between the FMV on the date of exercise ($128.58) and the exercise price ($74.91). Additional shares were then withheld to satisfy the Company's tax withholding obligations.