February 5, 2026 · Form 4 insider transaction
Zink Doug sold 934 shares of Belden Inc. at $129.36 per share, a transaction worth $120.8K. 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 (1,734) and the number of shares issued as a result of the exercise (800). 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 ($129.36) and the exercise price ($45.11). Additional shares were then withheld to satisfy the Company's tax withholding obligations.