Molly Kelly Wiegel
About Molly Kelly Wiegel
Molly Kelly Wiegel is Senior Vice President, Human Resources and Administration at Broadstone Net Lease, Inc. (BNL), a role she has held since March 2023, after serving as SVP, Human Resources from February 2020 to March 2023; she joined the Company in 2013 and holds an M.S. in Career and Human Resource Development (RIT) and a B.A. in Psychology (University of Rochester) . She is age 54 as disclosed in the 2025 proxy . Company performance metrics relevant to incentive alignment include FY2024 net income of $169.0 million, AFFO of $282.0 million ($1.43 per diluted share, +1.4% YoY), 99.1% economic occupancy, and Net Debt/Annualized Adjusted EBITDAre of 5.0x; long-term incentives for SVPs combine time-based restricted stock (four-year vesting) and performance-based RSUs (three-year rTSR) .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| BNL | SVP, Human Resources & Administration | Mar 2023–present | Leads talent acquisition, development, performance management, compensation/benefits, payroll, internal/external communications, and office operations/services . |
| BNL | SVP, Human Resources | Feb 2020–Mar 2023 | Oversaw HR activities including recruitment, performance management, training, development, compliance . |
| Broadstone Real Estate, LLC | SVP, Human Resources | Aug 2018–2020 | Senior HR leadership for affiliate entity; integration and talent systems . |
| Broadstone Real Estate, LLC | Various HR roles | 2013–2018 | Director/VP HR roles supporting HR operations and scaling HR programs . |
| Rochester Optical | Human Resources Director | 2012–2013 | Led HR function for optical company . |
| Nixon Peabody LLP | Director of Staff Professional Development; Director of HR Operations | 2002–2011 | Built HR operations and professional development frameworks at a major law firm . |
External Roles
No external board memberships or concurrent public company roles are mentioned in BNL’s executive officer biography for Ms. Wiegel .
Fixed Compensation
| Element | Policy for SVPs | Notes |
|---|---|---|
| Base salary | No broad 2024 salary increases; increases only in connection with promotions (Comp Committee action) . | Individual SVP base salaries not disclosed for Ms. Wiegel. |
| Annual cash bonus | 75% objective corporate metrics; 25% Structured Discretionary Bonus Program tied to strategic priorities . | Applies to SVPs and NEOs. |
| Standard benefits | Participation in 401(k) with employer match; standard health/fringe benefits; no significant perquisites . | Company-wide policy. |
Performance Compensation
| Metric | Weighting | Threshold | Target | Maximum | Actual performance |
|---|---|---|---|---|---|
| AFFO per share | 50% | 1.390 | 1.410 | 1.430 | 1.428 |
| Net Debt to Annualized Adjusted EBITDAre | 15% | 5.75x | 5.5x | 5.25x | 5.03x |
| Economic Occupancy | 10% | 97.0% | 98.0% | 99.0% | 99.1% |
| Structured Discretionary Bonus Program (strategic priorities) | 25% | 78/130 points | 104/130 points | 130/130 points | 124/130 points (95% achievement) |
Long-term incentive structure for SVPs: 60% time-based restricted shares vesting 25% annually over 4 years; 40% performance-based RSUs with three-year rTSR measurement against a net lease peer set and the MSCI US REIT Index; payouts range 0–200% based on percentile ranks, with a 25% reduction if absolute TSR is negative (not below target) starting with 2024 grants .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial ownership (historical) | 3,379.760 shares/OP Units as of March 1, 2020; <1% of outstanding shares . |
| Ownership guidelines | SVPs must hold BNL stock equal to 1.5x current base salary within 5 years of appointment; must retain at least 50% of vested awards until compliant; unvested time-based restricted shares count toward SVP ownership (performance-based do not) . |
| Hedging/pledging | Insider Trading Policy prohibits hedging, margining, pledging and short-selling of Company securities, except limited waivers by the Board; prohibitions apply to all employees and directors . |
| Clawback | Company must seek recovery of incentive-based compensation for current/former executive officers upon material restatements within prior 3 years; no misconduct finding required; policy amended Oct 2023 to comply with SEC/NYSE rules . |
| Vested vs. unvested/options | SVP vesting schedules: time-based RS vest 4 years; performance RSUs vest on three-year rTSR results; Company does not use stock options for current programs in proxy disclosures . |
| Pledging as collateral | Prohibited under Insider Trading Policy . |
Historical internalization-related awards:
| Event | Date | Shares | Cash |
|---|---|---|---|
| Internalization payments (disclosed) | 2020 proxy (Q4 2019) | 2,106.76 shares | ~$296,385 |
| Internalization follow-up disclosure | 2021 proxy (Q1 2021) | 2,106.76 shares | ~$296,385 |
| Internalization-related distributions | 2022 proxy (Q4 2021) | 2,936 shares (value approx. $63,124 at $21.50/share) | ~$111,538 |
Employment Terms
| Term | Detail |
|---|---|
| Employment agreement | Not disclosed for Ms. Wiegel; Amended employment agreements/severance protections are detailed for NEOs (CEO/President/CFO) . |
| Non-compete | NEOs have restrictive covenants including 12-month non-compete/non-solicit; SVP-specific covenants for Ms. Wiegel are not disclosed . |
| Change-of-control | No single-trigger bonus payments or automatic vesting; equity does not automatically vest upon a change-in-control unless awards are not assumed in the transaction . |
| Clawback | Mandatory recovery framework for incentive comp upon restatement, per SEC/NYSE-compliant policy . |
| Hedging/pledging | Generally prohibited; Board may waive in limited circumstances . |
Investment Implications
- Alignment and retention: SVP stock ownership guidelines (1.5x salary within 5 years) and post-vest holding requirements, combined with prohibitions on hedging/pledging, support alignment and reduce near-term selling pressure; clawback coverage adds governance rigor .
- Incentive design favors performance: 75% objective bonus metrics and rTSR-based equity (with negative absolute TSR modifier) create sensitivity to AFFO, leverage, occupancy, and TSR outcomes; 2024 metrics achieved near-top-end targets, indicating strong performance linkage .
- Governance quality: No excise tax gross-ups or SERP, no single-trigger CIC vesting, independent comp consultant, and robust say-on-pay support (95.8% approval in 2024) lower compensation-related risk and signal disciplined oversight .
- Data gaps: Ms. Wiegel’s individual base salary, bonus paid, and current beneficial ownership are not disclosed in recent proxies; reliance is on company-wide SVP policies and historical internalization payments for directional context .