BELDEN INC. — Director's Dealing 2025

May 14, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BELDEN INC. (BDC)
CIK: 0000913142
Period of Report: 2025-05-13

Reporting Person: Lieser Brian (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-05-13	Common Stock	M	1200	$61.79	Acquired	38605	Direct
2025-05-13	Common Stock	D	903	$113.85	Disposed	37702	Direct
2025-05-14	Common Stock	S	297	$113.64	Disposed	37405	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-05-13	Stock Appreciation Rights	$61.79	M	1200	Disposed	2029-02-28	Common Stock (1200)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	504.9382	Indirect

Footnotes

F1: The exercise reported was effected pursuant to a Rule 10b5-1 trading plan adopted by Mr. Lieser on November 7, 2024.

F2: Represents the balance of shares of Belden Inc. common stock held in the Belden Retirement Savings Plan as of the date of this filing.

F3: This represents the difference between the number of SARs exercised (1,200) and the number of shares issued as a result of the exercise (297). 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 ($113.85) and the exercise price ($61.79). Additional shares were then withheld to satisfy the Company's tax withholding obligations.

F4: The sale reported was effected pursuant to a Rule 10b5-1 trading plan adopted by Mr. Lieser on November 7, 2024.

F5: The original grant of stock appreciation rights became exercisable in equal portions on the first three anniversaries of the grant date.