February 15, 2024 · Form 4 insider transaction
Lieser Brian sold 528 shares of Belden Inc. at $84.53 per share, a transaction worth $44.6K. The trade was recorded as disposition to the issuer and disclosed on an SEC Form 4, filed 5 days after the transaction.
This represents the difference between the number of SARs exercised (570) and the number of shares issued as a result of the exercise (42). 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 ($84.535) and the exercise price ($72.57). Additional shares are then withheld to satisfy the Company's tax withholding obligations.