BELDEN INC. — Director's Dealing 2024

Feb 21, 2024

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BELDEN INC. (BDC)
CIK: 0000913142
Period of Report: 2024-02-15

Reporting Person: Lieser Brian (EVP, Indust. Automation Solut.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2024-02-15	Common Stock	M	570	$72.57	Acquired	17901	Direct
2024-02-15	Common Stock	D	528	$84.535	Disposed	17373	Direct
2024-02-16	Common Stock	F	653	$84.185	Disposed	16720	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2024-02-15	Stock Appreciation Rights	$72.57	M	570	Disposed	2024-03-04	Common Stock (570)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	205.2373	Indirect

Footnotes

F1: 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.

F2: Shares withheld for tax purposes related to February 16, 2021 restricted stock unit grant that vested on February 16, 2024.

F3: Represents the balance of shares of Belden Inc. common stock held in the Belden Retirement Savings Plan as of the date of this filing.