Broadstone Net Lease (BNL) Form 4 Broadstone Net Lease / AMY L TAIT ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

TAIT AMY L

(Last) (First) (Middle)

800 CLINTON SQUARE

(Street)

ROCHESTER NY 14604

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Broadstone Net Lease, Inc. [ BNL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
12/11/2020

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	12/11/2020		C		149,827	A	$0.00	149,827	D
Common Stock	12/11/2020		C		499,423	A	$0.00	1,331,494	I	By Family Limited Liability Company(1)
Common Stock	12/11/2020		C		99,885	A	$0.00	155,700	I	By Spouse(2)
Common Stock	12/11/2020		C		36,805	A	$0.00	286,217	I	By Trust(3)
Common Stock	12/11/2020		C		36,805	A	$0.00	286,217	I	By Trust(3)
Common Stock								127,700	I	By Limited Liability Company(4)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
OP Units(5)	(5)	12/11/2020		C			149,827	(6)	(6)	Common Stock	149,827	$0.00	1,157,307	D
OP Units(5)	(5)	12/11/2020		C			99,885	(6)	(6)	Common Stock	99,885	$0.00	0	I	By Spouse(2)
OP Units(5)	(5)	12/11/2020		C			36,805	(6)	(6)	Common Stock	36,805	$0.00	0	I	By Trust(3)
OP Units(5)	(5)	12/11/2020		C			36,805	(6)	(6)	Common Stock	36,805	$0.00	0	I	By Trust(3)
OP Units(5)	(5)	12/11/2020		C			499,423	(6)	(6)	Common Stock	499,423	$0.00	0	I	By Family Limited Liability Company(1)

Explanation of Responses:

1. Securities held by a family limited liability company with respect to which the reporting person has shared voting and investment power.

2. The reporting person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for any purpose.

3. Securities held by irrevocable trust for benefit of reporting person's child.

4. Securities held by a limited liability company with respect to which the reporting person and her spouse have shared voting and investment power.

5. Represents membership units of Broadstone Net Lease, LLC (the "OP"), a subsidiary and the operating company of the Issuer ("OP Units"). OP Units are redeemable by the reporting person and, at the Issuer's discretion, can be settled in cash or shares of Common Stock of the Issuer on a one-for-one basis.

6. These OP Units are fully vested.

Remarks:

	/s/ John D. Moragne, as Attorney-in-Fact	12/15/2020
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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