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The Plan is broadly available to employees of Belden Inc. and its subsidiaries.  Pursuant to the terms of the Plan, the purchase price is 85% of the lesser of (i) the price at the beginning of the offering period (July 1, 2025) or (ii) the price at the end of the offering period (December 31, 2025).  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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 ($120.695) and the exercise price ($72.73).  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