Mark E. Patten - 20 Feb 2025 Form 4 Insider Report for ESSENTIAL PROPERTIES REALTY TRUST, INC. (EPRT)

Role
Executive VP, CFO & Treasurer
Signature
/s/ Timothy J. Earnshaw, attorney-in-fact
Issuer symbol
EPRT
Transactions as of
20 Feb 2025
Net transactions value
$0
Form type
4
Filing time
24 Feb 2025, 16:46:10 UTC
Previous filing
13 Feb 2025
Next filing
15 Apr 2025
SEC
View on sec.gov

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction EPRT OP Units Award $0 +13,029 $0.000000 13,029 20 Feb 2025 Common Stock 13,029 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The OP Units ("OP Units") are units of limited partnership interest issued by Essential Properties, L.P., a Delaware limited partnership and the entity through which Essential Properties Realty Trust, Inc. (the "Company") holds substantially all of its assets and conducts its operations. The OP Units are redeemable by the holder for cash or, at the Company's election, may be exchanged for shares of the Company's common stock at a one-to-one ratio, subject to anti-dilution adjustments.
F2 Represents a special class of OP Units issued by Essential Properties, L.P. pursuant to its Partnership Agreement and the Company's Long-Term Incentive Plan ("LTIP Units"). Each LTIP Unit represents the contingent right to receive one OP Unit upon vesting, conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes.
F3 These LTIP Units vest ratably on the first, second, third and fourth anniversaries of January 18, 2025, subject to the reporting person's continued employment by the Company through the applicable vesting date. There is no expiration date for the LTIP Units or OP Units.

Remarks:

Exhibit 24.1 - Power of Attorney (incorporated by reference to the Power of Attorney filed as Exhibit 24.1 to the Form 3 filed by the reporting person on August 12, 2020.)